Trupanion, Inc. (TRUP) Bundle
A Brief History of Trupanion, Inc. (TRUP)
Company Overview
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Founded in 2000, the company focuses on providing medical insurance for cats and dogs.
Financial Performance
| Fiscal Year | Total Revenue | Net Income/Loss | Subscribers |
|---|---|---|---|
| 2022 | $696.4 million | ($53.8 million) | Approximately 1.4 million pets |
| 2023 | $785.3 million | ($41.2 million) | Approximately 1.6 million pets |
Key Business Metrics
- Subscription-based recurring revenue model
- Operates primarily in North America
- Offers direct payment to veterinarians for medical treatments
Stock Performance
As of January 2024, Trupanion (TRUP) trades on the NASDAQ stock exchange with a market capitalization of approximately $1.2 billion.
Operational Statistics
| Metric | 2023 Data |
|---|---|
| Veterinary practices integrated | Over 25,000 |
| Membership retention rate | 98.5% |
| Average monthly subscription | $64.43 |
Corporate Governance
Darryl Rawlings serves as the founder and CEO of Trupanion, with the company being publicly traded since 2014.
A Who Owns Trupanion, Inc. (TRUP)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| The Vanguard Group, Inc. | 4,247,878 | 12.44% |
| BlackRock Inc. | 3,773,154 | 11.05% |
| Baillie Gifford & Co | 2,786,331 | 8.16% |
Insider Ownership
Darryl Rawlings, Founder and CEO, owns 5,867,784 shares, representing approximately 17.18% of the company's total outstanding shares.
Top Executive Ownership
- Tricia Plouf (CFO): 54,478 shares
- Murray Ragland (Chief Commercial Officer): 41,232 shares
- Margi Tooth (Chief Operating Officer): 37,915 shares
Public Ownership
As of Q4 2023, 34,126,450 shares are publicly traded on NASDAQ under the ticker TRUP.
Trupanion, Inc. (TRUP) Mission Statement
Core Mission Overview
Trupanion's mission focuses on providing comprehensive medical insurance for pets, specifically designed to help pet owners manage unexpected veterinary expenses.
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Revenue | $911.3 million |
| Net Membership | 1,380,000 pets |
| Subscription Revenue | $685.4 million |
| Gross Margin | 27.3% |
Key Strategic Focus Areas
- Comprehensive pet medical insurance coverage
- Direct veterinary hospital payment model
- 100% coverage for eligible medical treatments
- No payout limits per condition
Market Positioning
Trupanion operates exclusively in North America, with 94% of its business concentrated in the United States and Canada.
Membership Growth
| Year | Membership Additions |
|---|---|
| 2022 | 174,000 new pets |
| 2023 | 189,000 new pets |
Operational Metrics
- Average Monthly Subscription: $64.41
- Retention Rate: 98.41%
- Claims Paid: $541.2 million in 2023
How Trupanion, Inc. (TRUP) Works
Company Overview
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. As of Q4 2023, the company had 1,396,000 total pets enrolled in their medical insurance program.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $931.3 million |
| Net Loss | $44.7 million |
| Subscription Recurring Revenue | $896.7 million |
Insurance Model
Trupanion offers 90% reimbursement for veterinary costs after deductible, with no payout limits.
Key Service Features
- Direct veterinary payment option
- No breed or age restrictions
- Covers hereditary and congenital conditions
Market Presence
Operates exclusively in North America, with primary markets in the United States and Canada.
Pricing Structure
| Plan Type | Average Monthly Cost |
|---|---|
| Dogs | $66 |
| Cats | $40 |
Enrollment Statistics
As of December 31, 2023, Trupanion reported:
- 1,396,000 total enrolled pets
- Approximately 70% of pets are dogs
- Approximately 30% of pets are cats
Stock Performance
NASDAQ ticker TRUP traded at $39.81 as of January 31, 2024.
How Trupanion, Inc. (TRUP) Makes Money
Pet Insurance Subscription Revenue
Trupanion generates revenue primarily through pet insurance subscriptions. As of Q4 2023, the company reported:
- Total enrolled pets: 1,154,000
- Monthly subscription revenue per pet: $64.46
- Annual recurring revenue: $885.4 million
Subscription Model Breakdown
| Category | Financial Metric | Amount |
|---|---|---|
| Subscription Revenue | Q4 2023 Total | $250.3 million |
| Subscription Growth | Year-over-Year | 21% |
| Subscription Retention Rate | Monthly | 98.5% |
Additional Revenue Streams
Trupanion also generates revenue through:
- Veterinary software platform fees
- Licensing agreements
- Pet health data monetization
Financial Performance
| Financial Metric | 2023 Amount |
|---|---|
| Total Revenue | $1.04 billion |
| Gross Profit | $381.2 million |
| Net Income | $12.6 million |
Geographic Revenue Distribution
- United States: 87% of revenue
- Canada: 13% of revenue
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