Trupanion, Inc. (NASDAQ:TRUP) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET
Company Participants
Gil Melchior - Director of Investor Relations
Margi Tooth - President & CEO
Fawwad Qureshi - CFO
Conference Call Participants
Maria Ripps - Canaccord Genuity
Brandon Vazquez - William Blair
John Barnidge - Piper Sandler
Jonathan Block - StifelJonathan
Katie Sacchi - Autonomous research
Wilma Burdis - Raymond James
Operator
Good day and welcome to the Trupanion Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the call over to Gil Melchior, Director of Investor Relations. Please go ahead.
Gil Melchior
Good afternoon and welcome to Trupanion's Second Quarter 2024 Financial Results Conference Call. Participating on today's call are Margi Tooth, President and Chief Executive Officer; and Fawwad Qureshi, Chief Financial Officer. For ease of reference, we've included a slide presentation to accompany today's discussion, which will be made available on our Investor Relations website under our Quarterly Earnings tab.
Before we begin, please be advised that remarks today will contain forward-looking statements. All statements other than statements of historical facts are forward-looking statements. These include, but are not limited to, statements regarding our future operations, opportunities and financial performance, pricing and veterinary industry inflation, and our ability to remediate our material weaknesses.
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 today's earnings release, 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, cost of paying veterinary invoices, 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 expenses. 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 another substitute for measures of financial performance prepared in accordance with the US GAAP.