Trupanion, Inc. (NASDAQ:TRUP) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET
Company Participants
Laura Bainbridge - IR
Darryl Rawlings - CEO
Margi Tooth - President
Wei Li - Interim CFO
Conference Call Participants
Maria Ripps - Canaccord
Shweta Khajuria - Evercore ISI
Josh Shanker - Bank of America
Jon Block - Stifel
Wilma Burdis - Raymond James
Katie Sakys - Autonomous Research
John Barnidge - Piper Sandler
Operator
Good day. And welcome to the Trupanion Second Quarter 2023 Earnings Call. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Laura Bainbridge with Investor Relations. Please go ahead.
Laura Bainbridge
Good afternoon, and welcome to Trupanion's second quarter 2023 financial results conference call. Participating on today's call are Darryl Rawlings, Chief Executive Officer; Margi Tooth, President; and Wei Li, Interim Chief Financial Officer.
Before we begin, I would like to remind everyone that during today's conference call, we will make certain forward-looking statements regarding the future operations, opportunities and financial performance of Trupanion within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve a high degree of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed. A detailed discussion of these and other risks and uncertainties are included in our earnings release, which can be found on our Investor Relations website, as well as the company's most recent reports on Forms 10-K and 8-K filed with the Securities and Exchange Commission.
Today's presentation contains references to non-GAAP financial measures that management uses to evaluate the company's performance, including without limitation, variable expenses, fixed expenses, adjusted operating income, acquisition costs, internal rate of return, adjusted EBITDA, and free cash flow.
When we use the term adjusted operating income or margin, it is intended to refer to our non-GAAP operating income or margin before new pet acquisition and development expense. Unless otherwise noted, margins and expenses will be presented on a non-GAAP basis, which excludes stock-based compensation expense and depreciation expense. These non-GAAP measures are in addition to and not a substitute for measures of financial performance prepared in accordance with the U.S. GAAP.
Investors are encouraged to review these reconciliations of these non-GAAP financial measures to the most directly comparable GAAP results, which can be found in today's press release or on Trupanion's Investor Relations website under the Quarterly Earnings tab.