$TRUP
TRUPANION, INC. Stock $trup

$trup Overview Financials Valuation SEC Filings Company Website

2015 Q3 Form 10-Q Financial Statement

#000137128515000062 Filed on November 05, 2015

Income Statement

Concept	2015 Q3	2014 Q3
Revenue	$37.87M	$30.31M
YoY Change	24.92%	36.95%
Cost Of Revenue	$31.30M	$25.90M
YoY Change	20.85%	43.89%
Gross Profit	$6.591M	$4.445M
YoY Change	48.28%	7.91%
Gross Profit Margin	17.41%	14.66%
Selling, General & Admin	$8.195M	$7.319M
YoY Change	11.97%	80.89%
% of Gross Profit	124.34%	164.66%
Research & Development	$3.000M	$2.532M
YoY Change	18.48%	119.03%
% of Gross Profit	45.52%	56.96%
Depreciation & Amortization	$670.0K	$500.0K
YoY Change	34.0%	108.33%
% of Gross Profit	10.17%	11.25%
Operating Expenses	$11.20M	$9.851M
YoY Change	13.69%	89.37%
Operating Profit	-$4.609M	-$5.406M
YoY Change	-14.74%	399.17%
Interest Expense	$14.00K	$5.155M
YoY Change	-99.73%	3247.4%
% of Operating Profit
Other Income/Expense, Net	-$4.000K	$2.066M
YoY Change	-100.19%	15792.31%
Pretax Income	-$4.627M	-$8.495M
YoY Change	-45.53%	594.04%
Income Tax	$16.00K	$14.00K
% Of Pretax Income
Net Earnings	-$4.600M	-$8.509M
YoY Change	-45.94%	596.32%
Net Earnings / Revenue	-12.15%	-28.07%
Basic Earnings Per Share
Diluted Earnings Per Share	-$165.5K	-$406.7K
COMMON SHARES
Basic Shares Outstanding	28.25M shares	27.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2015 Q3	2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$44.90M	$78.40M
YoY Change	-42.73%
Cash & Equivalents	$21.69M	$59.07M
Short-Term Investments	$23.20M	$19.30M
Other Short-Term Assets	$2.200M	$1.400M
YoY Change	57.14%
Inventory
Prepaid Expenses
Receivables	$8.300M	$8.600M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$55.39M	$88.35M
YoY Change	-37.3%
LONG-TERM ASSETS
Property, Plant & Equipment	$9.614M	$6.355M
YoY Change	51.28%
Goodwill
YoY Change
Intangibles	$4.799M	$4.863M
YoY Change	-1.32%
Long-Term Investments	$300.0K	$900.0K
YoY Change	-66.67%
Other Assets	$29.00K	$0.00
YoY Change
Total Long-Term Assets	$17.16M	$12.16M
YoY Change	41.11%
TOTAL ASSETS
Total Short-Term Assets	$55.39M	$88.35M
Total Long-Term Assets	$17.16M	$12.16M
Total Assets	$72.55M	$100.5M
YoY Change	-27.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.451M	$1.641M
YoY Change	-11.58%
Accrued Expenses	$4.327M	$3.519M
YoY Change	22.96%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$23.24M	$21.28M
YoY Change	9.18%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$14.90M
YoY Change	-100.0%
Other Long-Term Liabilities	$412.0K	$141.0K
YoY Change	192.2%
Total Long-Term Liabilities	$412.0K	$15.04M
YoY Change	-97.26%
TOTAL LIABILITIES
Total Short-Term Liabilities	$23.24M	$21.28M
Total Long-Term Liabilities	$412.0K	$15.04M
Total Liabilities	$25.15M	$37.87M
YoY Change	-33.6%
SHAREHOLDERS EQUITY
Retained Earnings	-$71.38M	-$52.90M
YoY Change	34.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.601M	$2.601M
YoY Change	0.0%
Treasury Stock Shares
Shareholders Equity	$47.41M	$62.65M
YoY Change
Total Liabilities & Shareholders Equity	$72.55M	$100.5M
YoY Change	-27.82%

Cashflow Statement

Concept	2015 Q3	2014 Q3
OPERATING ACTIVITIES
Net Income	-$4.600M	-$8.509M
YoY Change	-45.94%	596.32%
Depreciation, Depletion And Amortization	$670.0K	$500.0K
YoY Change	34.0%	108.33%
Cash From Operating Activities	-$870.0K	-$3.260M
YoY Change	-73.31%	-634.43%
INVESTING ACTIVITIES
Capital Expenditures	-$1.180M	-$1.740M
YoY Change	-32.18%	222.22%
Acquisitions
YoY Change
Other Investing Activities	-$2.000M	-$5.230M
YoY Change	-61.76%	1313.51%
Cash From Investing Activities	-$3.180M	-$6.970M
YoY Change	-54.38%	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	-150.0K	60.04M
YoY Change	-100.25%	10621.43%
NET CHANGE
Cash From Operating Activities	-870.0K	-3.260M
Cash From Investing Activities	-3.180M	-6.970M
Cash From Financing Activities	-150.0K	60.04M
Net Change In Cash	-4.200M	49.81M
YoY Change	-108.43%	19057.69%
FREE CASH FLOW
Cash From Operating Activities	-$870.0K	-$3.260M
Capital Expenditures	-$1.180M	-$1.740M
Free Cash Flow	$310.0K	-$1.520M
YoY Change	-120.39%	-232.17%

Facts In Submission

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	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
	dei	Document Period End Date DocumentPeriodEndDate	2015-09-30
	dei	Document Type DocumentType	10-Q
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	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	TRUPANION INC.
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	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-9768000	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
CY2015Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-4643000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-14204000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1545000	USD
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-4000	USD
CY2014Q3	us-gaap	Operating Expenses OperatingExpenses	9851000	USD
	us-gaap	Operating Expenses OperatingExpenses	26138000	USD
CY2015Q3	us-gaap	Operating Expenses OperatingExpenses	11200000	USD
	us-gaap	Operating Expenses OperatingExpenses	31755000	USD
CY2014Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-5406000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-11787000	USD
CY2015Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-4609000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-13796000	USD
CY2015Q3	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	21000000	USD
CY2014Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	0	USD
CY2015Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	29000	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	49000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-274000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-347000	USD
CY2014Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	42000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	161000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-245000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-359000	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 Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	112000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	29000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-12000	USD
CY2014Q3	us-gaap	Other Cost Of Services OtherCostOfServices	4059000	USD
	us-gaap	Other Cost Of Services OtherCostOfServices	11872000	USD
CY2015Q3	us-gaap	Other Cost Of Services OtherCostOfServices	4670000	USD
	us-gaap	Other Cost Of Services OtherCostOfServices	13361000	USD
CY2014Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1523000	USD
CY2015Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	668000	USD
CY2014Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	92000	USD
CY2015Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	412000	USD
CY2014Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	2066000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-8000	USD
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-56000	USD
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	91000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	643000	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	0	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	300000	USD
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	26455000	USD
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	16082000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4013000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3816000	USD
CY2014Q4	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3194000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	2349000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	3167000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	8.71
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	222351	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	615273	shares
CY2014Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	21116000	USD
CY2015Q3	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
CY2014Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	1299000	USD
CY2015Q3	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	2157000	USD
	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	72946000	USD
	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	0	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	17000000	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	0	USD
	us-gaap	Proceeds From Repayments Of Debt ProceedsFromRepaymentsOfDebt	-32103000	USD
	us-gaap	Proceeds From Repayments Of Debt ProceedsFromRepaymentsOfDebt	-14900000	USD
	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	23239000	USD
	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	13580000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	161000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	914000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	7862000	USD
CY2015Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9614000	USD
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	0	USD
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	0	USD
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-57180000	USD
CY2015Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-71383000	USD
CY2014Q3	us-gaap	Revenues Revenues	30312000	USD
	us-gaap	Revenues Revenues	84042000	USD
CY2015Q3	us-gaap	Revenues Revenues	37865000	USD
	us-gaap	Revenues Revenues	106762000	USD
CY2014Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	2934000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	8390000	USD
CY2015Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	4128000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	11312000	USD
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	20674000	USD
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5082500	shares
CY2014Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5112556	shares
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4991047	shares
CY2014Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	3.19
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	3.65
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	19306000	USD
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber	3589654	shares
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	2.28
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	1.78
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	7.78
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
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P6Y4M2D
CY2015Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	749000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	2349000	USD
CY2014Q4	us-gaap	Short Term Investments ShortTermInvestments	22371000	USD
CY2015Q3	us-gaap	Short Term Investments ShortTermInvestments	23203000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	514431	shares
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	59275000	USD
CY2015Q3	us-gaap	Stockholders Equity StockholdersEquity	47409000	USD
CY2014Q3	us-gaap	Technology Services Costs TechnologyServicesCosts	2532000	USD
	us-gaap	Technology Services Costs TechnologyServicesCosts	7285000	USD
CY2015Q3	us-gaap	Technology Services Costs TechnologyServicesCosts	3005000	USD
	us-gaap	Technology Services Costs TechnologyServicesCosts	8683000	USD
CY2014Q4	us-gaap	Treasury Stock Value TreasuryStockValue	2601000	USD
CY2015Q3	us-gaap	Treasury Stock Value TreasuryStockValue	2601000	USD
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	8092287	shares
CY2015Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	27755310	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	27564975	shares
	us-gaap	Advertising Cost Policy Expensed Advertising Cost AdvertisingCostPolicyExpensedAdvertisingCost	<div style="font-family:Times New Roman;font-size:10pt;"><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;">Advertising</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advertising costs are expensed as incurred, with the exception of television advertisements, which are expensed the first time each advertisement is aired.</font></div></div>
	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 consolidated balance sheet data as of December 31, 2014 was derived from audited consolidated financial statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for unaudited 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 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, 2014 included in the Company’s Annual Report on Form 10-K, filed with the U.S Securities and Exchange Commission on February 24, 2015. The accompanying unaudited 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, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015, 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’s consolidated financial statements from their original presentation to conform to the current period presentation. In addition, amounts in note 9 related to segments have been recast to reflect a change in the composition of the Company’s segments as described in note 9.</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, claims reserve and useful lives of software developed for internal use. 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;">Advertising</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advertising costs are expensed as incurred, with the exception of television advertisements, which are expensed the first time each advertisement is aired.</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;">Accumulated Other Comprehensive Loss</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> reclassifications out of accumulated other comprehensive loss during the three and nine months ended September 30, 2015 and 2014.</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;">Insurance Operations</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Effective January 1, 2015, the Company formed a segregated account in Bermuda as part of Wyndham Insurance Company (SAC) Limited (WICL), and entered into a revised fronting and reinsurance arrangement with Omega General Insurance Company (Omega) to include its newly formed segregated account. The Company maintains all risk with the business written in Canada and consolidates the entity in its financial statements. Contractual requirements restrict dividends from this entity until after 2016, at which time dividends will be allowed subject to the Segregated Accounts Company Act of 2000, which allows for dividends only to the extent that the entity remains solvent and the value of its assets remain greater than the aggregate of its liabilities and its issued share capital and share premium accounts. </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;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:6px;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, 2017, with early adoption permitted, and must be applied retrospectively or modified retrospectively. The Company does not believe this ASU will have a material impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2015, the FASB issued an ASU amending short-term insurance contract disclosures and requiring more detailed disclosures to enable users of financial statements to understand information relating to liabilities for unpaid claims and claims adjustment expenses. Additionally, the amendments will also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate these liabilities. This guidance is effective for annual reporting periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. Early adoption of this guidance is permitted, and must be applied retrospectively by providing comparative disclosures for each period presented. The Company plans to adopt this guidance in 2016.</font></div></div>
	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’s consolidated financial statements from their original presentation to conform to the current period presentation. In addition, amounts in note 9 related to segments have been recast to reflect a change in the composition of the Company’s segments as described in note 9.</font></div></div>
	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, claims reserve and useful lives of software developed for internal use. Actual results could differ from the estimates used in preparing the consolidated financial statements.</font></div></div>

Files In Submission

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TRUPANION, INC. Stock $trup

2015 Q3 Form 10-Q Financial Statement

#000137128515000062 Filed on November 05, 2015

Income Statement

Balance Sheet

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$TRUP TRUPANION, INC. Stock $trup

2015 Q3 Form 10-Q Financial Statement

#000137128515000062 Filed on November 05, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TRUP
TRUPANION, INC. Stock $trup