Trupanion Inc. (NASDAQ: TRUP) stock slumped 5.85% in intraday trading on Friday, following the release of the company's full-year 2024 earnings results. Despite reporting a 16% year-over-year increase in revenue to $1.29 billion, the pet insurance provider's earnings per share (EPS) for the fourth quarter fell short of analysts' expectations.
While Trupanion managed to narrow its net loss by 78% to $9.63 million, the company's EPS of $0.23 loss per share missed analysts' estimates by 19%. This earnings miss, coupled with concerns about the company's future growth prospects, weighed heavily on investor sentiment, leading to the stock's sharp decline.
Despite the disappointing Q4 results, Trupanion remains optimistic about its long-term growth potential. The company forecasts revenue growth of 5.9% per annum on average over the next two years, outpacing the projected growth rate of 5.2% for the broader U.S. insurance industry.
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