Trupanion Inc. (TRUP) saw its loss narrow to $1.72 million, or $0.06 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3 million, or $0.11 a share.
Revenue during the quarter grew 27.71 percent to $51.34 million from $40.20 million in the previous year period. Gross margin for the quarter contracted 13 basis points over the previous year period to 17.95 percent. Operating margin for the quarter stood at negative 3.22 percent as compared to a negative 7.41 percent for the previous year period.
Operating loss for the quarter was $1.65 million, compared with an operating loss of $2.98 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.30 million compared to negative $1.59 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 0.59 percent for the quarter compared to negative 3.95 percent in the last year period.
"I am pleased with our results in 2016, highlighted by consistent revenue growth and achieving positive free cash flow," said Darryl Rawlings, chief executive officer of Trupanion. "In 2017, we will continue our focus on optimizing our LVP to PAC by sub-category, testing initiatives to bolster same store sales, expanding the footprint of our direct pay initiative, investing in direct to consumer testing and exploring additional revenue opportunities within our other business segment."
Operating cash flow turns positive
Trupanion Inc. has generated cash of $5.01 million from operating activities during the year as against cash outgo of $10.42 million in the last year.
The company has spent $6.51 million cash to meet investing activities during the year as against cash outgo of $9.92 million in the last year.
Cash flow from financing activities was $7.67 million for the year as against cash outgo of $14.21 million in the last year period.
Cash and cash equivalents stood at $23.64 million as on Dec. 31, 2016, up 31.64 percent or $5.68 million from $17.96 million on Dec. 31, 2015.
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