Trupanion Continues Fast Growth

Trupanion posted revenue of $33.3 million in the first quarter of 2015. This was an increase of 30% from a year ago. The number of enrolled pets increased to 246,100, a 27% increase from last year.

This puts Trupanion at about half the size of VPI.

Other details from yesterday’s earnings call:

Cost to acquire a new customer is $134, while lifetime value of a customer is $567
22% of their business is in Canada
25% of claims are paid through Trupanion Express (a direct payment system between the company and the . . . → Read More: Trupanion Continues Fast Growth

Trupanion planning IPO

The rumors about Trupanion going public have been confirmed in SEC filings.  The company will be listed on the NYSE under the ticker TRUP and plans to raise up to $75 million.

Interesting details from the filings:

1.  $83.8 million in revenue in 2013.

2. 181,634 pets enrolled on March 31, 2014.

3.  They are growing very quickly (over 50% annually), but have posted a loss in each of the last three years.

4.  Lifetime value of an insured pet is $610 and average acquisition cost of a pet customer . . . → Read More: Trupanion planning IPO