Trupanion, Inc. (NASDAQ:TRUP) Q3 2024 Results Earnings Conference Call October 31, 2024 4:30 PM ET

Company Participants

Gil Melchior - Director of Investor Relations
Margi Tooth - President and Chief Executive Officer
Fawwad Qureshi - Chief Financial Officer

Conference Call Participants

Maria Ripps - Canaccord Genuity
John Barnidge - Piper Sandler
Brandon Vazquez - William Blair
Joshua Shanker - BofA Securities
Jonathan Block - Stifel
Katie Sakys - Autonomous Research
Wilma Burdis - Raymond James

Operator

Good day and welcome to the Trupanion Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please also note that today's event is being recorded.

I would now like to turn the conference over to Gil Melchior, Director of Investor Relations. Please go ahead.

Gil Melchior

Good afternoon and welcome to the Trupanion's third quarter 2024 financial results conference call. Participating on today's call are Margi Tooth, Chief Executive Officer and President, 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 on 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, key operating metrics, opportunities and financial performance, pricing and veterinary industry inflation, and our ability to immediate 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, including Forms 10-K, 10-Q, 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 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, all margins and expenses will be presented on a non-GAAP basis, and excluding 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 US GAAP. Investors are encouraged to review the 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.