Trupanion Shares Jump 12% as Third-Quarter Loss Narrows, Pet Enrollment Grows

By Paul Ziobro

Shares of Trupanion jumped in late trading on Thursday after the pet insurance company posted a narrower-than-expected third-quarter loss on a 19% increase in enrollment.

The stock was up 12% in after-hours trading to $25.54. Shares ended Thursday's regular trading session up 11.8% at $22.87, which left them down a little more than 50% for the year.

The Seattle-based company on Thursday reported a net loss of $4 million, or 10 cents a share, for the quarter-ended Sept. 30, compared with a loss of $12.9 million, or 32 cents a share, in the same period a year ago.

Analysts recently polled by FactSet expected a loss of 31 cents.

Revenue rose 22% to $285.9 million, topping analyst estimates of $275 million. The company said that it had 1.7 million enrolled pets at the end of the quarter.

Write to Paul Ziobro at [e-mail]

(END) Dow Jones Newswires

11-02-23 1724ET