Trupanion : 2024 Shareholder Letter
TRUP
Published on 04/30/2025 at 17:42
2024 TRUPANION SHAREHOLDER LETTER 2
We use Truponion to continue to let Presley do the things Presley loves to do without the worry of 'what if'. This way, Presley con go for boot rides, participate in his favorite doggy activities, and just be the active boy he is.
Thank you, Truponion, for giving
us the peace of mind we need to
keep up with this guy!
- AMBER K.
We signed up for Truponion right after we adopted our kitty, Clover. We ore so grateful we did as she had a post-surgical complication after her spoy at 6 months thot required a second surgery and follow-up core. We were able to just focus on Clover getting back to herself and let Truponion look after the rest!
- CRYSTAL L.
trupanion'
Medical insurance for the life of your pet.
To Our Shareholders 4
A Category Coming of Age 6
Expanding Growth in an Untapped Market 9
Lead. Convert. Keep. Internal Rates of Return How We Are Different
2024 in Review
A 60-Month Plan Update The Team
Finishing Strong
2019 Shareholder Letter
13
25
29
36
49
51
57
2024 TRUPANION SHAREHOLDER LETTER
To Our Shoreholders
It is an honor to be writing this, my first shareholder letter to you. After over a decade of working alongside our founder, Darryl Rawlings, I am excited to be at the helm of Trupanion as we continue to compound and grow globally, and to be leading a team with such enormous potential in a vast and globally untapped market.
Those who have had the pleasure of meeting any one of our 1,200+ pet passionate team members will know that it is our mission that drives us. A mission fueled by long-held ambitions to support the health and well-being of the pets that share our beds and give us unconditional love. Indeed, our mission is global, one that transcends country and other boundaries, and unites us in our love for our four-legged companions.
We are a proudly Canadian-founded company, equally proud to operate across the United States and with a growing presence globally. As markets evolve and new dynamics emerge, we remain grounded in our mission and focus on those we serve: our team, members and partners. Amidst change and uncertainty is where we most comfortably sit. Our very goal is to serve as a robust and dependable support system to pets, their families and the veterinary teams that care for them. This remains unequivocally our purpose and ever more important.
Throughout this year's letter, I will touch on our progress in 2024 and revisit some of our regular features: highlighting our field performance, retention by cohort and provide a progress report on some of our initiatives in our 60-month plan. Before I go into the details of the year, I'd first like to take the opportunity to provide insight into where we are in our journey, how we think about growth, the impact of retention and dive into one of the less well understood concepts of the business: Pricing the Trupanion way. I hope after reading this IeNer, you leave with a greater understanding and a reinforcement of your excitement for what's ahead for our business.
With thanks,
Margi Tooth
Chief Executive Officer & President
2024 TRUPANION SHAREHOLDER LETTER
The Truponion Experience
Here's a glimpse into what our members experience every day with Truponion - from real-time vet payments to compassionate support and peace of mind when it matters most. This is what sets us apart, and why pet parents continue to trust us with their best friends.
2024 TRUPANION SHAREHOLDER LETTER 5
Disclaimer
Trupanion Inc. published this content on April 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2025 at 21:41 UTC.