Revenue during the quarter grew 28.17 percent to $54.73 million from $42.70 million in the previous year period. Gross margin for the quarter contracted 38 basis points over the previous year period to 16.73 percent. Operating margin for the quarter stood at negative 2.46 percent as compared to a negative 5.96 percent for the previous year period.

Operating loss for the quarter was $1.35 million, compared with an operating loss of $2.54 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.45 million compared to negative $1.07 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 0.83 percent for the quarter compared to negative 2.50 percent in the last year period.

“It was a solid first quarter financially, with 28% revenue year-over-year growth and continued scale in our fixed expenses,” said Darryl Rawlings, Chief executive officer of Trupanion. “It also was our fourth consecutive quarter of positive operating cash flow. Operationally, we built momentum in the quarter, particularly around the key initiatives aimed at deepening the competitive moats around our business.”

The company has spent $4.47 million cash to meet investing activities during the quarter as against cash outgo of $0.95 million in the last year period.

Cash flow from financing activities was $0.90 million for the quarter, down 39.24 percent or $0.58 million, when compared with the last year period.

Cash and cash equivalents stood at $21.94 million as on Mar. 31, 2017, up 25.17 percent or $4.41 million from $17.53 million on Mar. 31, 2016.