TRUPANION INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
TRUP$34.26-3.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Trupanion, Inc. Consolidated Statements of Cash Flows(in thousands) | |||
|---|---|---|---|
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(44,693) | $(44,672) | $(35,530) |
| Adjustments to reconcile net loss to cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 12,474 | 10,921 | 11,965 |
| Stock-based compensation expense | 33,161 | 33,393 | 28,226 |
| Other, net | 1,347 | 1,051 | (1,927) |
| Changes in operating assets and liabilities: | |||
| Accounts and other receivables | (35,440) | (66,982) | (66,170) |
| Prepaid expenses and other assets | (1,907) | (5,227) | (3,055) |
| Accounts payable, accrued liabilities, and other liabilities | 1,644 | 3,136 | 8,796 |
| Reserve for veterinary invoices | 19,485 | 4,227 | 10,768 |
| Deferred revenue | 32,567 | 56,153 | 54,385 |
| Net cash provided by (used in) operating activities | 18,638 | (8,000) | 7,458 |
| Investing activities | |||
| Purchases of investment securities | (165,936) | (273,006) | (95,672) |
| Maturities and sales of investment securities | 190,270 | 239,210 | 57,869 |
| Cash paid in business acquisition, net of cash acquired | — | (15,034) | — |
| Purchases of property, equipment, and internal-use software | (18,280) | (17,088) | (12,355) |
| Other | 1,585 | (1,598) | (1,755) |
| Net cash provided by (used in) investing activities | 7,639 | (67,516) | (51,913) |
| Financing activities | |||
| Proceeds from debt financing, net of financing fees | 60,102 | 69,138 | — |
| Repayment of debt financing | (1,717) | (571) | — |
| Repurchases of common stock | — | (5,755) | — |
| Proceeds from exercise of stock options | 2,655 | 2,290 | 3,607 |
| Shares withheld to satisfy tax withholding | (1,536) | (4,359) | (4,732) |
| Other | (378) | — | — |
| Net cash provided by (used in) financing activities | 59,126 | 60,743 | (1,125) |
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash, net | 424 | (1,459) | 252 |
| Net change in cash, cash equivalents, and restricted cash | 85,827 | (16,232) | (45,328) |
| Cash, cash equivalents, and restricted cash at beginning of period | 84,637 | 100,869 | 146,197 |
| Cash, cash equivalents, and restricted cash at end of period | $170,464 | $84,637 | $100,869 |
| Supplemental disclosures | |||
| Income taxes paid (refund) | $611 | $2,498 | $282 |
| Interest paid | 12,100 | 3,353 | 16 |
| Noncash investing and financing activities: | |||
| Purchases of property, equipment, and internal-use software included in accounts payable and accrued liabilities | 887 | 1,324 | 729 |
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