$TRUP
TRUPANION, INC.

2014 Q3 Form 10-Q Financial Statement

#000137128514000009 Filed on October 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $30.31M $22.13M
YoY Change 36.95% 52.65%
Cost Of Revenue $25.90M $18.00M
YoY Change 43.89% 65.14%
Gross Profit $4.445M $4.119M
YoY Change 7.91% 14.42%
Gross Profit Margin 14.66% 18.61%
Selling, General & Admin $7.319M $4.046M
YoY Change 80.89% -1.32%
% of Gross Profit 164.66% 98.23%
Research & Development $2.532M $1.156M
YoY Change 119.03%
% of Gross Profit 56.96% 28.07%
Depreciation & Amortization $500.0K $240.0K
YoY Change 108.33%
% of Gross Profit 11.25% 5.83%
Operating Expenses $9.851M $5.202M
YoY Change 89.37% 26.88%
Operating Profit -$5.406M -$1.083M
YoY Change 399.17% 116.6%
Interest Expense $5.155M $154.0K
YoY Change 3247.4% -254.0%
% of Operating Profit
Other Income/Expense, Net $2.066M $13.00K
YoY Change 15792.31%
Pretax Income -$8.495M -$1.224M
YoY Change 594.04% 74.86%
Income Tax $14.00K -$2.000K
% Of Pretax Income
Net Earnings -$8.509M -$1.222M
YoY Change 596.32% 74.57%
Net Earnings / Revenue -28.07% -5.52%
Basic Earnings Per Share
Diluted Earnings Per Share -$406.7K -$45.11K
COMMON SHARES
Basic Shares Outstanding 27.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.40M
YoY Change
Cash & Equivalents $59.07M $5.279M
Short-Term Investments $19.30M
Other Short-Term Assets $1.400M
YoY Change
Inventory
Prepaid Expenses
Receivables $8.600M
Other Receivables $0.00
Total Short-Term Assets $88.35M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $6.355M
YoY Change
Goodwill
YoY Change
Intangibles $4.863M
YoY Change
Long-Term Investments $900.0K
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $12.16M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $88.35M
Total Long-Term Assets $12.16M
Total Assets $100.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.641M
YoY Change
Accrued Expenses $3.519M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.28M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $14.90M
YoY Change
Other Long-Term Liabilities $141.0K
YoY Change
Total Long-Term Liabilities $15.04M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $21.28M
Total Long-Term Liabilities $15.04M
Total Liabilities $37.87M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$52.90M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.601M
YoY Change
Treasury Stock Shares
Shareholders Equity $62.65M
YoY Change
Total Liabilities & Shareholders Equity $100.5M
YoY Change

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$8.509M -$1.222M
YoY Change 596.32% 74.57%
Depreciation, Depletion And Amortization $500.0K $240.0K
YoY Change 108.33%
Cash From Operating Activities -$3.260M $610.0K
YoY Change -634.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.740M -$540.0K
YoY Change 222.22%
Acquisitions
YoY Change
Other Investing Activities -$5.230M -$370.0K
YoY Change 1313.51%
Cash From Investing Activities -$6.970M -$910.0K
YoY Change 665.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.04M 560.0K
YoY Change 10621.43%
NET CHANGE
Cash From Operating Activities -3.260M 610.0K
Cash From Investing Activities -6.970M -910.0K
Cash From Financing Activities 60.04M 560.0K
Net Change In Cash 49.81M 260.0K
YoY Change 19057.69%
FREE CASH FLOW
Cash From Operating Activities -$3.260M $610.0K
Capital Expenditures -$1.740M -$540.0K
Free Cash Flow -$1.520M $1.150M
YoY Change -232.17%

Facts In Submission

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16088000 USD
CY2014Q3 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
19297000 USD
CY2013Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
832000 USD
CY2014Q3 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
944000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations and Summary of Significant Accounting Policies</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trupanion, Inc. (collectively with its wholly-owned subsidiaries, the Company) is a direct-to-consumer monthly subscription service provider of a medical plan for cats and dogs throughout the United States, Canada and Puerto Rico.</font></div><div style="line-height:120%;padding-top:6px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation</font><font style="font-family:inherit;font-size:12pt;"> </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated balance sheet data as of December 31, 2013 was derived from audited consolidated financial statements. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the Company's audited consolidated financial statements and accompanying notes for the year ended December 31, 2013 included in the Company's prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933 on </font><font style="font-family:inherit;font-size:10pt;">July&#160;18, 2014</font><font style="font-family:inherit;font-size:10pt;">. The accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the Company's financial position and results of its operations, as of and for the periods presented. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014, or for any other period.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified within the Company&#8217;s consolidated financial statements from their original presentation to conform with the current period presentation.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies and the reported amounts of revenue and expenses. Significant items subject to such estimates and assumptions include the valuation of deferred tax assets, stock-based compensation, warrant liabilities, claims reserve, useful lives of software developed for internal use and income tax uncertainties. Actual results could differ from the estimates used in preparing the consolidated financial statements.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is subject to income taxes in the United States and in Canada. The provision for income taxes reflects the Company's estimated effective tax rate for the year. The difference between this rate and the U.S. federal income tax rate of 35% was primarily due to a full valuation allowance on its U.S. deferred tax assets. During the nine months ended September 30, 2014, the Company reduced its accrual for its existing uncertain tax positions by $</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">53</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Offering Costs </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior to the Company's initial public offering (IPO), deferred offering costs, including legal, accounting and other fees and costs related to the IPO, were capitalized and included as a noncurrent asset in the consolidated balance sheets. Upon completion of the IPO, the deferred offering costs were offset against IPO proceeds in additional paid-in capital in the consolidated balance sheet. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Initial Public Offering</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On July 23, 2014 the Company completed IPO pursuant to which </font><font style="font-family:inherit;font-size:10pt;">8,193,750</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock were sold to the public at a price of </font><font style="font-family:inherit;font-size:10pt;">$10.00</font><font style="font-family:inherit;font-size:10pt;"> per share. The Company received net proceeds of approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$72.8 million</font><font style="font-family:inherit;font-size:10pt;"> from the IPO. Upon the closing of the IPO, all shares of the outstanding convertible preferred stock and exchangeable shares automatically converted into </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">14,944,945</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2,247,130</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock, respectively. If this transaction had taken place on January 1, 2014, the Company's weighted-average shares outstanding for the three and nine months ended September 30, 2014 would have been </font><font style="font-family:inherit;font-size:10pt;">27,135,340</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">26,900,033</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Upon completion of the IPO, </font><font style="font-family:inherit;font-size:10pt;">25,170</font><font style="font-family:inherit;font-size:10pt;"> warrants to purchase preferred stock were converted into warrants for the purchase of common shares on a 1:1 basis. These warrants were classified as liabilities on the consolidated balance sheet due to terms allowing for a modification of the exercise price under certain circumstances. Upon completion of the IPO, these warrants were revalued resulting in a gain of </font><font style="font-family:inherit;font-size:10pt;">$14</font><font style="font-family:inherit;font-size:10pt;"> that was recorded in other (income) expense, net in the consolidated statement of operations. Immediately after the IPO, all of these warrants were exercised at the IPO price of </font><font style="font-family:inherit;font-size:10pt;">$10.00</font><font style="font-family:inherit;font-size:10pt;"> per share, resulting in an increase of </font><font style="font-family:inherit;font-size:10pt;">25,170</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock outstanding.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Immediately prior to the Company's IPO, there were warrants to purchase </font><font style="font-family:inherit;font-size:10pt;">1,164,085</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock outstanding, of which warrants to purchase </font><font style="font-family:inherit;font-size:10pt;">415,646</font><font style="font-family:inherit;font-size:10pt;"> of shares of common stock were issued on July 2, 2014 in connection with an amended and restated credit agreement that contained terms modifying the exercise price and number of underlying shares upon completion of an IPO resulting in historical liability classification in the consolidated balance sheet. Upon the closing of the IPO, the number of shares underlying these warrants was adjusted to </font><font style="font-family:inherit;font-size:10pt;">869,999</font><font style="font-family:inherit;font-size:10pt;"> shares, and the exercise price of each warrant was adjusted to </font><font style="font-family:inherit;font-size:10pt;">$10.00</font><font style="font-family:inherit;font-size:10pt;"> per share. These warrants were also revalued resulting in a gain of </font><font style="font-family:inherit;font-size:10pt;">$2,040</font><font style="font-family:inherit;font-size:10pt;">, which was recorded in other (income) expense, net in the statement of operations. Immediatly following the IPO, these warrants were no longer subject to contractual modification provisions and were reclassified from a liability classification to an equity classification on the consolidated balance sheet.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accumulated Other Comprehensive Loss, net of tax</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A rollforward of accumulated other comprehensive loss is as follows:</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.828125%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="73%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">ACCUMULATED OTHER COMPREHENSIVE LOSS</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">UNREALIZED LOSSES ON AVAILABLE FOR SALE SECURITIES</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">FOREIGN CURRENCY GAIN</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at December 31, 2013</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(168</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at March 31, 2014 </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(133</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">60</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(27</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at June 30, 2014 </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(73</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at September 30, 2014</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were no reclassifications out of accumulated other comprehensive loss during the three and nine months ended September 30, 2014 and 2013.</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) amending revenue recognition guidance and requiring more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Insurance contracts are excluded from the scope of this new guidance. The guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption prohibited, and must be applied retrospectively or modified retrospectively.&#160;We are currently evaluating the impact this ASU will have on our consolidated financial statements.</font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
61004000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4134000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2076000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7229000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1066000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9700000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1222000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8509000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16901000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4972000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
5202000 USD
us-gaap Operating Expenses
OperatingExpenses
26138000 USD
us-gaap Operating Expenses
OperatingExpenses
16026000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4470000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-11787000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1083000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5406000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
49000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
25000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
29000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-29000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-27000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
51000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-126000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-102000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
161000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
42000 USD
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-97000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
3700000 USD
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
17000 USD
us-gaap Other Cost Of Services
OtherCostOfServices
7942000 USD
CY2014Q3 us-gaap Other Cost Of Services
OtherCostOfServices
4059000 USD
us-gaap Other Cost Of Services
OtherCostOfServices
11872000 USD
CY2013Q3 us-gaap Other Cost Of Services
OtherCostOfServices
3205000 USD
CY2014Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1340000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1138000 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
141000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
166000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1545000 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-168000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2066000 USD
CY2014Q3 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
255000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
103000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
15697000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
26455000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4013000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1416000 USD
CY2014Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2013Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1386000 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
935000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified within the Company&#8217;s consolidated financial statements from their original presentation to conform with the current period presentation</font></div></div>
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
72946000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2014Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
72778000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
17000000 USD
CY2014Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
17000000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
3000000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-32000000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
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23239000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
15055000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
-18000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
434000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
161000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3124000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6355000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7285000 USD
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2532000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3191000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1156000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3000000 USD
CY2014Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
0 USD
us-gaap Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
595665 shares
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-36003000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-52904000 USD
us-gaap Revenues
Revenues
59818000 USD
CY2014Q3 us-gaap Revenues
Revenues
30312000 USD
us-gaap Revenues
Revenues
84042000 USD
CY2013Q3 us-gaap Revenues
Revenues
22134000 USD
CY2013Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2013000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6853000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8390000 USD
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2934000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3194000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1364000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1020000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.16
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
107167 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
665100 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
28332000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
30406000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4663445 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5082500 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.12
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.12
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
19908000 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
23497000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2719609 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3418197 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.63
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.38
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.16
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.04
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2001000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
3194000 USD
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
478000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1364000 USD
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1664303 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M16D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y0M22D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y0M11D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.47
CY2014Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
900000 USD
CY2014Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
0 USD
CY2014Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
1123000 USD
CY2013Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
0 USD
CY2013Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
44000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
138878 shares
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-32999000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
62645000 USD
CY2013Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
31724000 USD
CY2014Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
2601000 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2601000 USD
CY2014Q3 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
1123000 USD
CY2013Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
3801000 USD
CY2014Q3 us-gaap Unearned Premiums
UnearnedPremiums
9291000 USD
CY2013Q4 us-gaap Unearned Premiums
UnearnedPremiums
8468000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies and the reported amounts of revenue and expenses. Significant items subject to such estimates and assumptions include the valuation of deferred tax assets, stock-based compensation, warrant liabilities, claims reserve, useful lives of software developed for internal use and income tax uncertainties. Actual results could differ from the estimates used in preparing the consolidated financial statements.</font></div></div>
CY2013Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4900000 USD
CY2014Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 USD
CY2013Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
724000 USD
CY2014Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
6119000 USD
CY2013Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
693000 USD
CY2014Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4380000 USD
CY2012Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
551000 USD
CY2013Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
721000 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8092287 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20857126 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1296105 shares
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1411866 shares
trup Claims Expense
ClaimsExpense
57819000 USD
CY2014Q3 trup Claims Expense
ClaimsExpense
21808000 USD
CY2013Q3 trup Claims Expense
ClaimsExpense
14810000 USD
trup Claims Expense
ClaimsExpense
40320000 USD
CY2014Q3 trup Common Sharesfromconversionof Preferred Warrants
CommonSharesfromconversionofPreferredWarrants
25170 shares
trup Deferred Offering Costs Not Yet Paid
DeferredOfferingCostsNotYetPaid
0 USD
trup Deferred Offering Costs Not Yet Paid
DeferredOfferingCostsNotYetPaid
136000 USD
CY2014Q3 trup Exchangeable Stock Shares Issued Upon Conversion
ExchangeableStockSharesIssuedUponConversion
2247130 shares
trup Exchangeof Stockand Intangible Assetfor Equity Method Investment
ExchangeofStockandIntangibleAssetforEquityMethodInvestment
448000 USD
trup Exchangeof Stockand Intangible Assetfor Equity Method Investment
ExchangeofStockandIntangibleAssetforEquityMethodInvestment
0 USD
CY2014Q3 trup Gsthst Tax Accrual
GSTHSTTaxAccrual
983000 USD
trup Increase Decreasein Claims Reserveand Loss Adjustment
IncreaseDecreaseinClaimsReserveandLossAdjustment
2565000 USD
trup Increase Decreasein Claims Reserveand Loss Adjustment
IncreaseDecreaseinClaimsReserveandLossAdjustment
-201000 USD
CY2014Q3 trup Prepayment Premium Rateon Subordinated Debt
PrepaymentPremiumRateonSubordinatedDebt
0.015
trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
0 USD
trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
1270000 USD
CY2014Q3 trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
-270000 USD
CY2014Q2 trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
-999000 USD
CY2013Q3 trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
0 USD
CY2013Q2 trup Redemptionof Warrants Non Cash
RedemptionofWarrantsNonCash
0 USD
CY2014Q3 trup Restricted Shares Vested Contingenton Initial Public Offering
RestrictedSharesVestedContingentonInitialPublicOffering
116877 shares
CY2014Q3 trup Restricted Stock Expenseoncontingentonperformancecondition
RestrictedStockExpenseoncontingentonperformancecondition
1433000 USD
trup Sharebased Compensation Arrangement Nonemployee Weighted Average Remaining Vesting Period
SharebasedCompensationArrangementNonemployeeWeightedAverageRemainingVestingPeriod
P3Y2M15D
CY2014Q3 trup Sharesof Common Stock Issuedin Initial Public Offering
SharesofCommonStockIssuedinInitialPublicOffering
8193750 shares
CY2013Q4 trup Special Voting Shares
SpecialVotingShares
0 USD
CY2014Q3 trup Special Voting Shares
SpecialVotingShares
0 USD
trup Term Loan Interest Rate Description
TermLoanInterestRateDescription
greater of 5.5% or 2.0% plus the prime rate
trup Uncertain Tax Position Reduction
UncertainTaxPositionReduction
53000 USD
CY2014Q3 trup Unvested Portionof Restricted Stock Grantwith Ipo Performance Condition
UnvestedPortionofRestrictedStockGrantwithIPOPerformanceCondition
584385 shares
CY2014Q3 trup Warrantreclassificationfromliabilitytoequity
Warrantreclassificationfromliabilitytoequity
-3180000 USD
CY2013Q3 trup Warrantreclassificationfromliabilitytoequity
Warrantreclassificationfromliabilitytoequity
0 USD
CY2014Q3 trup Warrants Convertedinto Preferred Shares
WarrantsConvertedintoPreferredShares
25170 shares
CY2014Q3 trup Warrants Issued
WarrantsIssued
415646 shares
trup Warrants Issuedin Conjunctionwith Debt Issuance
WarrantsIssuedinConjunctionwithDebtIssuance
43000 USD
trup Warrants Issuedin Conjunctionwith Debt Issuance
WarrantsIssuedinConjunctionwithDebtIssuance
1123000 USD
CY2014Q3 trup Weightedaveragesharesifconvertedwithinitialpublicoffering
Weightedaveragesharesifconvertedwithinitialpublicoffering
27135340 shares
trup Weightedaveragesharesifconvertedwithinitialpublicoffering
Weightedaveragesharesifconvertedwithinitialpublicoffering
26900033 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001371285
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27789803 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
TRUPANION INC.

Files In Submission

Name View Source Status
0001371285-14-000009-index-headers.html Edgar Link pending
0001371285-14-000009-index.html Edgar Link pending
0001371285-14-000009.txt Edgar Link pending
0001371285-14-000009-xbrl.zip Edgar Link pending
a10-qq32014.htm Edgar Link pending
ex311q32014.htm Edgar Link pending
ex312q32014.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
trup-20140930.xml Edgar Link completed
trup-20140930.xsd Edgar Link pending
trup-20140930_cal.xml Edgar Link unprocessable
trup-20140930_def.xml Edgar Link unprocessable
trup-20140930_lab.xml Edgar Link unprocessable
trup-20140930_pre.xml Edgar Link unprocessable