Filing Flows › Trupanion (TRUP) › Q1 2025
Trupanion (TRUP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Trupanion (TRUP) reported revenue of $342M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +1% from the quarter before. Operating margin was -0.4%, net loss $1.5M (0.4% of revenue).
Trupanion, Q1 2025: revenue $342M (+12% year over year), operating margin -0.4%, net loss $1.5M, operating cash flow $16.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $342M | +1% | +12% |
| Operating profit | −$1.5M | — | — |
| Net earnings | −$1.5M | — | — |
| Operating cash flow | $16.0M | -33% | +556% |
| Free cash flow | $14.0M | — | — |
What changed
Revenue was $342.0M in Q1 2025, up 12% year over year and up 1% from the previous quarter. Subscription business was the largest line at 68% of revenue. Subscription business added $31.9M year over year (up 16%), 89% of the total change.
Operating costs exceeded revenue by $1.5M, an operating margin of -0.4%. Total costs grew 10% against revenue growth of 12%. The fastest-growing cost line was General & admin (+36%). The quarter ended with a net loss of $1.5M, after a profit of $1.7M the previous quarter.
Operating cash flow was $16.0M (up 556% year over year). Non-cash charges added back $3.8M of depreciation and amortization and $9.8M of share-based compensation. Working capital and other items added $3.8M. After purchases of property, equipment, and internal-use software ($1.9M), free cash flow as the company reports it was $14.0M.
Questions
What was Trupanion's revenue in the first quarter 2025?
Trupanion (TRUP) reported revenue of $342M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +1% from the quarter before.
Was Trupanion profitable in the first quarter 2025?
Operating loss was $1.5M (-0.4% of revenue) and net loss $1.5M.
Source: Trupanion 10-Q on SEC EDGAR.