TRUP - Why Trupanion Stock Flopped on Friday
Trupanion (NASDAQ: TRUP) was a dog of a stock on Friday. The company, a highly specialized business that concentrates on insurance products for pets, saw its share price decline by almost 8% on the day. That was because of first-quarter earnings that fell short of expectations for profitability.
In Trupanion's inaugural quarter of this year, total revenue amounted to $206 million, a sturdy 33% improvement on a year-over-year basis. This was helped in no small measure by a 34% increase in the number of total enrolled pets to nearly 1.3 million animals. Subscription-enrolled pets totaled nearly 737,000, and subscription business revenue was 23% higher at just under $140 million.
Further down the profit-and-loss statement, the company's net loss narrowed to $8.9 million ($0.22 per share), from the first-quarter 2021 deficit of $12.4 million.
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Why Trupanion Stock Flopped on Friday