Trupanion(US:TRUP) Globenewswireยท2025-08-07 20:05Core Insights - Trupanion, Inc. reported strong financial results for Q2 2025, highlighting consistent revenue growth, margin expansion, and improved retention rates, which positions the company well for future investments in the pet insurance market [2][10]. Financial Highlights - Total revenue for Q2 2025 was $353.6 million, a 12% increase compared to Q2 2024 [10]. - Subscription business revenue reached $242.2 million, marking a 16% increase year-over-year [10]. - Net income for Q2 2025 was $9.4 million, or $0.22 per share, compared to a net loss of $(5.9) million, or $(0.14) per share, in Q2 2024 [10]. - Adjusted EBITDA for Q2 2025 was $16.6 million, up from $7.4 million in Q2 2024 [10]. - Operating cash flow was $15.0 million, with free cash flow of $12.0 million in Q2 2025, compared to $6.9 million and $4.0 million, respectively, in Q2 2024 [10]. Enrollment Metrics - Total enrolled pets as of June 30, 2025, was 1,660,455, a decrease of 2% from the previous year [10]. - Subscription enrolled pets increased by 4% to 1,066,354 [10]. - Monthly average revenue per pet rose to $78.73 from $70.76 year-over-year [22]. Cost and Expense Analysis - Total cost of revenue for Q2 2025 was $298.7 million, compared to $274.5 million in Q2 2024 [10]. - Subscription cost of paying veterinary invoices was 71.1% of subscription revenue, down from 74.1% in Q2 2024 [26]. - Average pet acquisition cost increased to $272 from $219 year-over-year [22]. Cash and Investment Position - As of June 30, 2025, the company held $319.6 million in cash and short-term investments, with an additional $15 million available under its credit facility [10]. - The company reported a net cash provided by operating activities of $30.99 million for the first half of 2025, compared to $9.29 million in the first half of 2024 [20].