$TRUP
TRUPANION, INC. Stock $trup

$trup Overview Financials Valuation SEC Filings Company Website

2016 Q2 Form 10-Q Financial Statement

#000137128516000213 Filed on August 05, 2016

Income Statement

Concept	2016 Q2	2015 Q2
Revenue	$45.83M	$35.59M
YoY Change	28.79%	26.69%
Cost Of Revenue	$37.60M	$29.80M
YoY Change	26.17%	30.13%
Gross Profit	$8.266M	$5.786M
YoY Change	42.86%	12.35%
Gross Profit Margin	18.04%	16.26%
Selling, General & Admin	$7.059M	$7.529M
YoY Change	-6.24%	23.39%
% of Gross Profit	85.4%	130.12%
Research & Development	$2.200M	$2.900M
YoY Change	-24.14%	13.59%
% of Gross Profit	26.62%	50.12%
Depreciation & Amortization	$730.0K	$560.0K
YoY Change	30.36%	33.33%
% of Gross Profit	8.83%	9.68%
Operating Expenses	$9.223M	$10.41M
YoY Change	-11.39%	20.25%
Operating Profit	-$957.0K	-$4.622M
YoY Change	-79.29%	31.87%
Interest Expense	$41.00K	$40.00K
YoY Change	2.5%	-94.49%
% of Operating Profit
Other Income/Expense, Net	$38.00K	$15.00K
YoY Change	153.33%	-98.02%
Pretax Income	-$960.0K	-$4.647M
YoY Change	-79.34%	33.84%
Income Tax	$4.000K	-$22.00K
% Of Pretax Income
Net Earnings	-$1.000M	-$4.600M
YoY Change	-78.26%	32.22%
Net Earnings / Revenue	-2.18%	-12.93%
Basic Earnings Per Share	-$0.03
Diluted Earnings Per Share	-$0.03	-$166.7K
COMMON SHARES
Basic Shares Outstanding	28.35M shares	28.25M shares
Diluted Shares Outstanding	28.35M shares

Balance Sheet

Concept	2016 Q2	2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$45.40M	$47.70M
YoY Change	-4.82%	103.85%
Cash & Equivalents	$18.21M	$26.16M
Short-Term Investments	$27.20M	$21.50M
Other Short-Term Assets	$1.700M	$1.700M
YoY Change	0.0%	54.55%
Inventory
Prepaid Expenses
Receivables	$9.300M	$8.800M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$56.39M	$58.16M
YoY Change	-3.03%	78.87%
LONG-TERM ASSETS
Property, Plant & Equipment	$9.733M	$9.131M
YoY Change	6.59%	76.72%
Goodwill
YoY Change
Intangibles	$4.882M	$4.815M
YoY Change	1.39%	-1.33%
Long-Term Investments	$311.0K	$2.500M
YoY Change	-87.56%	177.78%
Other Assets	$62.00K	$23.00K
YoY Change	169.57%	-99.57%
Total Long-Term Assets	$17.49M	$16.49M
YoY Change	6.06%	1.56%
TOTAL ASSETS
Total Short-Term Assets	$56.39M	$58.16M
Total Long-Term Assets	$17.49M	$16.49M
Total Assets	$73.88M	$74.65M
YoY Change	-1.03%	53.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$865.0K	$1.218M
YoY Change	-28.98%	-70.85%
Accrued Expenses	$3.368M	$3.720M
YoY Change	-9.46%	-14.91%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$25.25M	$21.37M
YoY Change	18.14%	-25.5%
LONG-TERM LIABILITIES
Long-Term Debt	$986.0K	$0.00
YoY Change		-100.0%
Other Long-Term Liabilities	$741.0K	$112.0K
YoY Change	561.61%	-85.86%
Total Long-Term Liabilities	$1.727M	$112.0K
YoY Change	1441.96%	-99.57%
TOTAL LIABILITIES
Total Short-Term Liabilities	$25.25M	$21.37M
Total Long-Term Liabilities	$1.727M	$112.0K
Total Liabilities	$28.41M	$22.98M
YoY Change	23.63%	-58.98%
SHAREHOLDERS EQUITY
Retained Earnings	-$77.92M	-$66.74M
YoY Change	16.75%	50.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.601M	$2.601M
YoY Change	0.0%	0.0%
Treasury Stock Shares
Shareholders Equity	$45.47M	$51.67M
YoY Change
Total Liabilities & Shareholders Equity	$73.88M	$74.65M
YoY Change	-1.03%	53.12%

Cashflow Statement

Concept	2016 Q2	2015 Q2
OPERATING ACTIVITIES
Net Income	-$1.000M	-$4.600M
YoY Change	-78.26%	32.22%
Depreciation, Depletion And Amortization	$730.0K	$560.0K
YoY Change	30.36%	33.33%
Cash From Operating Activities	$1.560M	-$3.990M
YoY Change	-139.1%	60.24%
INVESTING ACTIVITIES
Capital Expenditures	-$440.0K	-$1.050M
YoY Change	-58.1%	-16.0%
Acquisitions
YoY Change
Other Investing Activities	-$1.660M	-$1.840M
YoY Change	-9.78%	-309.09%
Cash From Investing Activities	-$2.090M	-$2.890M
YoY Change	-27.68%	660.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	1.230M	440.0K
YoY Change	179.55%	-71.79%
NET CHANGE
Cash From Operating Activities	1.560M	-3.990M
Cash From Investing Activities	-2.090M	-2.890M
Cash From Financing Activities	1.230M	440.0K
Net Change In Cash	700.0K	-6.440M
YoY Change	-110.87%	391.6%
FREE CASH FLOW
Cash From Operating Activities	$1.560M	-$3.990M
Capital Expenditures	-$440.0K	-$1.050M
Free Cash Flow	$2.000M	-$2.940M
YoY Change	-168.03%	137.1%

Facts In Submission

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	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
	dei	Document Period End Date DocumentPeriodEndDate	2016-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001371285
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	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	TRUPANION INC.
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CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-4625000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-9561000	USD
CY2016Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-964000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-3536000	USD
CY2015Q2	us-gaap	Operating Expenses OperatingExpenses	10408000	USD
	us-gaap	Operating Expenses OperatingExpenses	20554000	USD
CY2016Q2	us-gaap	Operating Expenses OperatingExpenses	9223000	USD
	us-gaap	Operating Expenses OperatingExpenses	19072000	USD
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-4622000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-9186000	USD
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-957000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-3502000	USD
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CY2016Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	62000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	55000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-74000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	11000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	300000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	22000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-115000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	17000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	308000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-33000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-41000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	6000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	8000	USD
CY2015Q2	us-gaap	Other Cost Of Services OtherCostOfServices	4314000	USD
	us-gaap	Other Cost Of Services OtherCostOfServices	8691000	USD
CY2016Q2	us-gaap	Other Cost Of Services OtherCostOfServices	5100000	USD
	us-gaap	Other Cost Of Services OtherCostOfServices	9891000	USD
CY2015Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	654000	USD
CY2016Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	870000	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	511000	USD
CY2016Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	741000	USD
CY2015Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	15000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-4000	USD
CY2016Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	38000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	55000	USD
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-113000	USD
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	39000	USD
	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	0	USD
	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	69000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	384000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
	us-gaap	Payments To Acquire Held To Maturity Securities PaymentsToAcquireHeldToMaturitySecurities	11066000	USD
	us-gaap	Payments To Acquire Held To Maturity Securities PaymentsToAcquireHeldToMaturitySecurities	11223000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2644000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1090000	USD
CY2015Q4	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
CY2016Q2	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	2193000	USD
CY2016Q2	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	1717000	USD
	us-gaap	Proceeds From Repayments Of Debt ProceedsFromRepaymentsOfDebt	-14900000	USD
	us-gaap	Proceeds From Repayments Of Debt ProceedsFromRepaymentsOfDebt	986000	USD
	us-gaap	Proceeds From Sale And Maturity Of Held To Maturity Securities ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities	10266000	USD
	us-gaap	Proceeds From Sale And Maturity Of Held To Maturity Securities ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities	9338000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	801000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1785000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9719000	USD
CY2016Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9733000	USD
CY2015Q2	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
CY2016Q2	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	0	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	7184000	USD
CY2016Q2	us-gaap	Treasury Stock Value TreasuryStockValue	2601000	USD
CY2016Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares	1039686	shares
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P5Y10M0D
CY2015Q4	us-gaap	Short Term Investments ShortTermInvestments	25288000	USD
CY2016Q2	us-gaap	Short Term Investments ShortTermInvestments	27192000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	615300	shares
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	0	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	0	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	73000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	45356000	USD
CY2016Q2	us-gaap	Stockholders Equity StockholdersEquity	45472000	USD
CY2015Q2	us-gaap	Technology Services Costs TechnologyServicesCosts	2879000	USD
	us-gaap	Technology Services Costs TechnologyServicesCosts	5677000	USD
CY2016Q2	us-gaap	Technology Services Costs TechnologyServicesCosts	2164000	USD
	us-gaap	Technology Services Costs TechnologyServicesCosts	4451000	USD
CY2015Q4	us-gaap	Treasury Stock Value TreasuryStockValue	2601000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-74385000	USD
CY2016Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-77921000	USD
CY2015Q2	us-gaap	Revenues Revenues	35587000	USD
	us-gaap	Revenues Revenues	68897000	USD
CY2016Q2	us-gaap	Revenues Revenues	45832000	USD
	us-gaap	Revenues Revenues	88531000	USD
CY2015Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	3533000	USD
CY2016Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	743000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	1439000	USD
CY2016Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	3564000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	7404000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1600000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1439000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	5985000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	6.90
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	190305	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	272523	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	29644000	USD
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	39822000	USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4871949	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4338867	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	3.71
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	4.09
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	34563000	USD
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber	3267026	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	2.67
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	3.00
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	10.34
CY2015Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	897000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	1600000	USD
CY2015Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	27597721	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	27468231	shares
CY2016Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	28348348	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	28173798	shares
	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) provides medical insurance plans 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, 2015 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, 2015 included in the Company’s Annual Report on Form 10-K, filed with the U.S Securities and Exchange Commission on February 17, 2016. 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 six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016, 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;">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, 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-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 six months ended June 30, 2016 and 2015.</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 2015, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (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 as of January 1, 2016. The Company has determined that although this guidance will not impact the financial statements, additional disclosures will be required in the Company's Form 10-K and Form 10-Q upon adoption.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued an ASU amending the accounting for income taxes and requiring all deferred tax assets and liabilities be classified as non-current on the consolidated balance sheet. The ASU is effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The ASU may be adopted either prospectively or retrospectively. The Company plans to prospectively adopt this guidance as of January 1, 2017. The Company anticipates that this guidance will not have a material impact on the financial statements resulting from the reclassification of current deferred taxes. The Company will continue to monitor the impact of this guidance.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued an ASU amending the lease presentation guidance. The ASU requires organizations that lease assets to recognize the rights and obligations created by those leases on the balance sheet. This ASU is effective for fiscal years beginning after December 15, 2018 including interim periods within that reporting period, with early adoption permitted. The Company plans to adopt this guidance as of January 1, 2019. The Company has determined this guidance will require recognition of a lease liability and corresponding asset on the balance sheet equal to the present value of minimum lease payments. The carrying amount of the asset is derived from the amount of the lease liability at the end of each reporting period.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued an ASU amending the accounting for employee share-based payments, including income tax recognition and classification. The entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. Additionally, tax withholding of shares will be allowed to be up to the employees’ maximum individual tax rate in the relevant jurisdiction without resulting in liability classification of the award. This ASU is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, with early adoption permitted. The Company plans to adopt this guidance as of January 1, 2017. The Company has determined the guidance for estimating forfeitures does not currently have a material impact to the financial statements, however the Company will continue to monitor the impact of this guidance.</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, 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>

Files In Submission

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2016 Q2 Form 10-Q Financial Statement

#000137128516000213 Filed on August 05, 2016

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2016 Q2 Form 10-Q Financial Statement

#000137128516000213 Filed on August 05, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

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TRUPANION, INC. Stock $trup