Trupanion, Inc. logo TRUP - Trupanion, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 9
HOLD 6
SELL 0
STRONG
SELL
0
| PRICE TARGET: $38.00 DETAILS
HIGH: $45.00
LOW: $34.00
MEDIAN: $35.00
CONSENSUS: $38.00
UPSIDE: 72.88%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 384.0 376.9 366.9 353.6 342.0 337.3 327.5 314.8 306.1 295.9 285.9 270.6 256.3 246.0 233.8 219.4 206.0 194.4 181.7 168.3 154.7 142.7 130.1 117.9 111.3 105.5 99.3 92.2 87.0 82.6 78.2 73.4 69.8 66.5 63.1 58.3 54.7 51.3 48.4 45.8 42.7 40.2 37.9 35.6 33.3 31.9 30.3 28.1 25.6 24.0 22.1 19.8 17.8
Cost of Revenue 281.4 262.8 306.9 298.7 290.9 284.4 278.1 274.5 269.9 255.8 250.6 241.2 230.0 212.4 203.7 190.8 176.1 163.8 153.5 143.7 133.6 119.1 109.5 98.1 93.4 87.7 81.8 77.5 71.9 68.4 64.4 61.0 58.7 54.8 51.3 47.9 45.6 42.1 39.9 37.6 35.4 32.9 31.3 29.8 27.7 26.3 25.9 22.9 20.9 19.9 18.0 16.0 14.2
Gross Profit 102.6 114.0 60.1 54.8 51.1 52.9 49.4 40.3 36.2 40.1 35.2 29.4 26.3 33.6 30.1 28.6 29.9 30.5 28.2 24.5 21.1 23.6 20.6 19.9 17.9 17.7 17.4 14.7 15.0 14.2 13.7 12.4 11.1 11.7 11.8 10.4 9.2 9.2 8.5 8.3 7.3 7.3 6.6 5.8 5.6 5.5 4.4 5.2 4.8 4.1 4.1 3.8 3.6
Operating Expenses
R&D Expenses 11.3 11.3 9.9 8.6 8.1 8.2 7.9 8.2 7.0 6.0 5.3 5.2 4.9 7.0 6.6 6.4 5.2 4.7 4.4 4.1 3.7 0.7 2.4 2.3 2.1 2.6 2.3 2.6 2.7 2.5 2.3 2.3 2.2 2.6 2.5 2.3 2.4 2.7 2.3 2.2 2.3 2.5 3.0 2.9 2.8 2.6 2.5 2.6 2.2 1.7 1.2 1.2 0.9
SG&A Expenses 19.1 41.4 18.3 20.1 19.9 16.8 17.0 15.3 14.7 13.4 12.7 13.1 21.0 10.5 10.3 9.2 9.4 28.8 8.2 7.4 7.2 18.9 18.8 14.3 15.3 14.5 14.3 14.0 13.6 11.9 10.5 10.3 10.4 10.3 8.9 8.6 8.1 8.1 7.7 7.1 7.6 7.7 8.2 7.5 7.3 7.1 7.3 6.1 5.4 4.9 4.0 4.3 4.5
Other Expenses 66.3 55.0 26.0 23.8 24.6 27.6 22.7 22.3 20.7 20.3 20.8 24.1 24.9 25.4 25.1 25.7 24.4 2.8 22.7 22.5 22.9 7.1 1.7 1.8 1.4 0.0 0.1 0.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 96.7 107.7 54.2 52.5 52.6 52.6 47.6 45.7 42.4 39.7 38.7 42.5 50.8 42.9 42.0 41.4 39.0 36.3 35.4 34.1 33.8 26.8 22.8 18.4 18.9 17.1 16.6 16.8 16.3 14.4 12.8 12.6 12.6 12.9 11.3 10.9 10.5 10.9 10.0 9.2 9.8 10.2 11.2 10.4 10.1 9.7 9.9 8.7 7.6 6.6 5.2 5.4 5.4
Operating Income
Operating Income 6.0 6.3 5.9 2.3 (1.5) 0.3 1.7 (5.5) (6.1) 0.4 (3.5) (13.1) (24.5) (9.2) (11.9) (12.8) (9.1) (5.8) (7.2) (9.5) (12.7) (3.2) (2.3) 1.5 (1.0) 0.6 0.8 (2.1) (1.3) (0.2) 0.9 (0.3) (1.5) (1.2) 0.5 (0.6) (1.3) (1.7) (1.5) (1.0) (2.5) (3.0) (4.6) (4.6) (4.6) (4.2) (5.4) (3.5) (2.9) (2.5) (1.1) (1.6) (1.8)
Interest Expense 1.9 4.1 2.8 3.7 3.2 3.4 3.8 3.7 3.6 3.7 3.1 2.9 2.4 1.6 1.4 1.2 0.1 0.0 0 0.0 0 0.3 0.3 0.3 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.2 0.1 5.2 0.7 0.7 0.2 0.2 0.1 0.1
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 11.5 14.4 13.4 18.2 5.6 9.0 9.7 2.1 0.5 4.7 2.0 (7.8) (19.4) (4.8) (8.4) (9.7) (6.1) (3.2) (4.2) (6.3) 10.2 (0.8) (0.5) 3.4 0.7 2.4 2.3 (0.1) 0.7 1.5 2.7 1.0 (0.4) (0.1) 1.7 1.6 (0.3) (0.4) (0.5) (0.2) (1.7) (2.2) (3.9) (4.0) (4.0) (3.8) (2.8) (2.3) (3.9) (2.8) (0.8) (1.5) (1.7)
EBIT 7.8 10.4 9.4 14.2 1.8 5.1 5.3 (2.3) (3.3) 1.7 (1.0) (11.0) (22.6) (7.7) (11.0) (12.4) (8.8) (6.0) (7.1) (9.4) 7.1 (3.1) (2.2) 1.7 (0.7) 1.2 1.1 (1.7) (0.9) 0.0 1.5 0.0 (1.4) (1.2) 0.6 0.5 (1.3) (1.6) (1.6) (0.9) (2.5) (3.0) (4.6) (4.6) (4.6) (4.2) (3.3) (2.7) (4.2) (3.0) (1.1) (1.7) (1.9)
Income Before Tax 6.0 6.3 6.6 10.5 (1.4) 1.7 1.5 (5.9) (6.9) (2.0) (4.1) (14.0) (25.0) (9.3) (12.4) (13.6) (8.9) (6.0) (7.1) (9.4) (12.7) (3.5) (2.5) 1.4 (1.1) 0.8 0.8 (2.0) (1.3) (0.3) 1.2 (0.3) (1.6) (1.3) 0.4 0.4 (1.5) (1.7) (1.6) (1.0) (2.6) (3.0) (4.6) (4.6) (4.8) (4.3) (8.5) (3.5) (4.9) (3.2) (1.2) (1.8) (2.0)
Income Tax Expense 1.1 0.7 0.7 1.1 0.0 0.0 0.0 (0.0) (0.0) 0.1 (0.0) (0.2) (0.2) (0.0) 0.5 0.0 (0.0) 1.0 (0.3) (0.2) (0.2) 0.0 0.0 0.0 0.0 0.2 0.0 (0.0) 0.0 0.0 (0.0) 0.1 (0.1) (0.5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (0.0) 0.1 (0.0) 0.0 0.0 0.0 (0.0) (0.0) (0.0) (0.1)
Net Income 4.9 5.6 5.9 9.4 (1.5) 1.7 1.4 (5.9) (6.9) (2.2) (4.0) (13.7) (24.8) (9.3) (12.9) (13.6) (8.9) (7.0) (6.8) (9.2) (12.4) (3.5) (2.6) 1.4 (1.1) 0.6 0.8 (1.9) (1.3) (0.3) 1.2 (0.4) (1.5) (0.8) 0.4 0.4 (1.5) (1.7) (1.6) (1.0) (2.6) (3.0) (4.6) (4.6) (4.9) (4.3) (8.5) (3.5) (4.9) (3.2) (1.2) (1.8) (1.9)
Per Share Data
EPS (Basic) 0.11 0.13 0.13 0.22 -0.03 0.04 0.03 -0.14 -0.16 -0.05 -0.10 -0.33 -0.60 -0.23 -0.32 -0.33 -0.22 -0.17 -0.17 -0.23 -0.31 -0.09 -0.07 0.04 -0.03 0.02 0.02 -0.06 -0.04 -0.01 0.04 -0.01 -0.05 -0.03 0.01 0.01 -0.05 -0.06 -0.06 -0.03 -0.09 -0.11 -0.17 -0.17 -0.18 -0.16 -0.31 -0.13 -3.22 -0.17 -0.79 -1.18 -0.10
EPS (Diluted) 0.11 0.13 0.13 0.22 -0.03 0.04 0.03 -0.14 -0.16 -0.05 -0.10 -0.33 -0.60 -0.23 -0.32 -0.33 -0.22 -0.17 -0.17 -0.23 -0.31 -0.09 -0.07 0.04 -0.03 0.02 0.02 -0.06 -0.04 -0.01 0.03 -0.01 -0.05 -0.03 0.01 0.01 -0.05 -0.06 -0.06 -0.03 -0.09 -0.11 -0.17 -0.17 -0.18 -0.15 -0.31 -0.13 -3.22 -0.17 -0.79 -1.18 -0.10
Shares Outstanding 43.5 42.3 43.1 42.9 42.8 42.2 42.2 42.1 41.9 41.7 41.5 41.4 41.1 40.9 40.8 40.7 40.6 40.4 40.3 40.1 39.7 37.8 35.4 35.1 35.0 34.9 34.9 34.6 34.3 33.7 33.1 30.7 30.2 29.9 30.0 29.5 29.3 29.0 28.7 28.3 28.0 27.9 27.8 27.6 27.3 27.5 27.8 26.6 1.5 18.4 1.5 1.5 18.4
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 153.5 138.0 154.8 122.7 166.3 160.3 137.5 124.3 146.5 147.5 150.3 118.4 126.7 65.6 85.5 101.6 122.5 87.4 109.6 117.3 133.1 139.9 35.2 30.0 27.2 29.2 25.0 27.4 26.6 26.6 34.7 95.4 30.8 25.7 25.2 24.6 21.9 23.6 20.6 18.2 17.5
Short-Term Investments 230.2 232.7 193.8 196.9 155.5 147.1 155.6 152.9 128.7 129.7 115.6 117.6 117.9 156.8 97.4 141.4 136.6 126.0 111.9 102.1 91.3 89.9 83.1 75.2 76.1 69.7 71.4 64.7 61.6 54.6 39.4 42.8 39.4 37.6 34.0 32.6 30.8 29.6 28.7 27.2 25.6
Net Receivables 304.8 301.9 302.5 292.8 290.1 274.0 289.8 285.9 278.5 267.9 277.9 265.6 248.2 232.4 224.1 204.2 189.0 165.2 157.9 140.0 117.9 99.1 92.4 80.7 66.0 54.4 50.1 43.5 37.6 31.6 32.0 28.6 24.3 20.4 20.3 17.1 13.5 10.1 10.3 9.3 8.5
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 16.7 (232.7) 17.0 16.7 16.4 15.9 16.7 15.7 17.1 17.0 17.4 18.9 17.5 14.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 705.2 440.0 668.0 629.1 628.3 597.3 599.6 578.9 570.8 562.1 561.2 520.6 510.4 469.1 421.8 462.5 462.6 391.0 390.5 369.9 352.0 337.0 218.1 191.8 175.1 158.8 151.5 140.0 130.7 118.0 110.3 173.7 97.5 86.6 82.6 76.6 68.5 65.4 61.6 56.4 53.6
Non-Current Assets
Property, Plant & Equipment 102.6 104.8 104.7 101.8 101.9 102.2 102.9 104.0 104.4 103.7 100.7 98.0 94.5 90.7 87.1 83.0 80.4 78.0 75.4 74.4 73.7 72.6 71.1 71.0 70.6 70.4 69.6 69.4 69.4 69.8 70.0 8.2 8.3 7.9 8.0 8.0 8.0 8.5 9.2 9.7 9.6
Goodwill 38.6 39.4 40.4 41.0 38.3 37.0 45.2 43.0 43.0 43.7 42.0 43.9 43.0 42.0 29.5 29.4 31.8 32.7 32.6 33.5 33.3 33.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 23.7 24.1 24.8 26.1 12.1 13.2 14.9 15.9 17.2 18.7 19.8 21.6 23.0 24.0 19.3 19.8 21.3 22.7 23.5 25.1 26.1 27.1 6.9 7.1 7.6 7.7 7.7 7.6 7.8 8.1 8.1 5.2 5 5.0 5.0 5.0 4.9 4.9 4.9 4.9 4.9
Long-Term Investments 1.0 1.0 1.0 0.2 0.4 0.4 14.2 14.1 13.0 (55.3) 11.4 9.8 8.4 7.8 55.1 7.7 7.4 7.1 6.6 6.2 5.8 5.6 5.0 4.5 4.1 4.3 4.1 3.9 3.7 3.6 3.5 3.3 3.2 3.2 3.1 2.8 2.9 2.9 2.8 2.8 2.8
Other Non-Current Assets 50.5 305.8 41.3 49.6 56.1 56.8 39.4 40.0 41.1 104.1 36.9 36.3 38.6 38.0 35.0 32.7 31.2 31.2 22.0 22.8 22.8 22.9 16.0 15.9 15.9 16.0 10.2 9.6 9.7 8.1 8.0 4.0 3.2 3.2 3.3 3.3 3.4 0.7 0.1 0.1 0.0
Total Non-Current Assets 216.4 475.1 212.1 218.7 208.8 209.5 216.5 217.1 218.7 220.9 210.8 209.6 207.6 202.5 226.1 172.6 172.1 171.6 160.2 162.0 161.7 161.2 99.1 98.5 98.1 98.4 91.5 90.5 90.6 89.5 89.6 20.6 19.7 19.3 19.3 19.1 19.2 17.0 17.0 17.5 17.3
Total Assets 921.6 915.0 880.2 847.8 837.2 806.9 816.1 795.9 789.5 782.9 772.0 730.2 717.9 671.6 647.9 635.2 634.6 562.6 550.7 532.0 513.7 498.2 317.1 290.3 273.2 257.2 243.0 230.5 221.3 207.5 199.9 194.3 117.2 105.9 101.9 95.7 87.7 82.3 78.5 73.9 70.9
Current Liabilities
Account Payables 12.8 16.4 12.8 8.7 9.7 11.5 10.1 6.6 8.3 10.5 9.0 6.9 7.4 9.5 7.6 6.5 5.8 9.0 6.5 4.9 5.3 6.1 5.0 2.9 4.8 4.1 2.8 2.1 2.9 2.8 2.2 2.4 3.3 2.7 2.3 1.8 2.0 2.0 1.3 0.9 1.0
Short-Term Debt 10 10 0.8 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.1 1.3 1.1 0.6 0.6 0.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 286.5 270.9 279.7 272.1 267.4 251.6 260.2 252.6 249.1 235.3 246.5 236.5 225.5 202.7 202.5 185.3 171.0 146.9 140.1 126.6 110.9 92.5 87.0 75.7 62.0 52.5 49.9 44.1 38.6 33.0 32.8 30.3 26.8 22.7 22.7 20.4 17.7 13.5 13.2 12.4 11.8
Other Current Liabilities 99.0 55.9 97.5 52.5 90.9 85.1 56.7 60.6 62.3 63.2 61.3 56.2 48.3 43.7 39.5 36.6 38.5 39.7 38.8 35.9 30.1 28.9 28.8 24.4 22.9 21.2 19.3 18.3 17.2 16.1 14.2 14.0 13.4 12.8 11.3 10.8 10.6 (20.9) 8.5 7.8 7.0
Total Current Liabilities 408.4 409.8 390.8 372.3 369.3 349.6 361.9 355.8 351.6 344.5 347.6 330.7 312.0 289.6 281.4 260.2 245.7 223.7 211.2 189.9 169.7 150.4 139.8 118.0 103.7 91.6 85.6 77.9 70.7 63.2 61.2 57.1 51.9 45.9 44.1 39.6 35.4 30.7 27.5 25.2 23.6
Non-Current Liabilities
Long-Term Debt 99.3 101.8 113.8 113.1 127.5 127.5 127.5 127.6 127.5 127.6 127.6 102.9 102.9 68.4 53.6 53.6 53.7 0 0 0 0 0 29.8 27.3 29.8 26.1 22.1 19.1 18.1 12.9 8.6 18.6 14.9 9.3 7.3 6.3 4.8 4.8 4.0 1.0 1.0
Deferred Tax Liabilities 1.0 1.5 2.3 2.0 1.9 1.9 2.2 2.2 2.4 2.7 2.6 2.9 3.1 3.4 2.6 2.5 2.7 2.8 3.8 4.3 4.5 4.7 1.1 1.1 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.6 1.6 1.6 1.4 1.4 1.4 1.4
Other Non-Current Liabilities 18.1 18.0 4.8 4.9 4.7 4.5 4.4 4.5 4.6 4.5 4.8 4.9 5.0 5.0 4.6 4.1 4.1 3.9 3.7 3.6 3.5 3.2 2.0 1.9 1.8 1.6 1.5 1.5 1.5 1.3 1.2 1.3 1.2 1.2 1.0 0.9 0.8 32.6 2.1 2.0 1.8
Total Non-Current Liabilities 118.4 121.3 120.8 120.0 134.2 134.0 134.1 134.3 134.5 134.8 135.0 110.8 111.1 76.7 60.8 60.2 60.4 6.7 7.5 7.9 7.9 7.9 33.0 30.4 32.7 28.8 24.6 21.6 20.6 15.1 10.8 20.9 17.1 11.6 9.9 8.9 7.2 7.0 6.3 3.2 2.9
Total Liabilities 526.8 531.1 511.6 492.3 503.5 483.6 495.9 490.1 486.1 479.2 482.6 441.4 423.1 366.3 342.2 320.4 306.1 230.4 218.7 197.8 177.6 158.3 172.8 148.4 136.4 120.4 110.1 99.4 91.3 78.3 72.0 78.0 69.0 57.4 54.0 48.5 42.6 37.6 33.7 28.4 26.6
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings (201.6) (206.5) (212.1) (218.0) (227.4) (225.9) (227.5) (229.0) (223.1) (216.3) (214.1) (210.1) (196.3) (171.6) (162.3) (149.4) (135.7) (126.9) (119.8) (113.0) (103.8) (91.4) (87.9) (85.3) (86.7) (85.5) (86.2) (86.9) (85.0) (83.7) (83.4) (84.6) (84.3) (82.8) (81.9) (82.4) (82.8) (81.3) (79.6) (77.9) (77.0)
Accumulated Other Comprehensive Income (0.7) 2.1 1.4 2.7 (0.7) (2.6) 3.2 (1.8) (1.6) 0.4 (7.1) (4.1) (4.3) (6.3) (6.0) (1.2) 2.2 3.1 2.3 4.1 3.7 3.1 0.1 (0.1) (0.4) 0.2 (0.5) (0.4) (0.5) (0.8) (0.3) (0.4) (0.3) (0.1) (0.1) (0.2) (0.4) (0.4) (0.3) (0.2) (0.2)
Total Stockholders' Equity 394.8 383.9 368.6 355.5 333.7 323.3 320.2 305.8 303.4 303.7 289.5 288.8 294.8 305.3 305.7 314.8 328.5 332.2 332.0 334.2 336.1 339.9 144.3 141.9 136.8 136.8 132.8 131.0 130.0 129.2 127.9 116.3 48.2 48.4 48.0 47.2 45.1 44.7 44.8 45.5 44.3
Total Liabilities & Equity 921.6 915.0 880.2 847.8 837.2 806.9 816.1 795.9 789.5 782.9 772.0 730.2 717.9 671.6 647.9 635.2 634.6 562.6 550.7 532.0 513.7 498.2 317.1 290.3 273.2 257.2 243.0 230.5 221.3 207.5 199.9 194.3 117.2 105.9 101.9 95.7 87.7 82.3 78.5 73.9 70.9
Debt Metrics
Total Debt 109.3 111.8 114.5 114.5 128.9 128.9 128.9 128.9 128.8 128.9 128.9 104.0 104.2 69.5 54.2 54.2 54.3 0 0 0 0 0 29.8 27.3 29.8 26.1 22.1 19.1 18.1 12.9 8.6 18.6 14.9 9.3 7.3 6.3 4.8 4.8 4.0 1.0 1.0
Net Debt (44.1) (26.2) (40.2) (8.3) (37.4) (31.4) (8.6) 4.6 (17.6) (18.6) (21.4) (14.4) (22.5) 3.9 (31.3) (47.4) (68.2) (87.4) (109.6) (117.3) (133.1) (139.9) (5.4) (2.7) 2.6 (3.1) (3.0) (8.3) (8.5) (13.7) (26.1) (76.8) (15.9) (16.4) (17.9) (18.3) (17.1) (18.9) (16.7) (17.2) (16.6)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 4.9 5.6 5.9 9.4 (1.5) 1.7 1.4 (5.9) (6.9) (2.2) (4.0) (13.7) (24.8) (9.3) (12.9) (13.6) (8.9) (7.0) (6.8) (9.2) (12.4) (3.5) (2.6) 1.4 (1.1) 0.6 0.8 (1.9) (1.3) (0.3) 1.2 (0.4) (1.5) (0.8) 0.4 0.4 (1.5) (1.7) (1.6) (1.0) (2.6)
Depreciation & Amortization 3.7 4.0 4.1 4.0 3.8 3.9 4.4 4.4 3.8 3.0 3.0 3.3 3.2 2.9 2.6 2.7 2.7 2.8 2.9 3.2 3.1 2.3 1.7 1.7 1.4 1.3 1.2 1.6 1.6 1.5 1.1 1.0 0.9 1.0 1.1 1.1 1.0 1.2 1.1 0.7 0.8
Stock-Based Compensation 9 9.5 9.5 9.5 9.8 8.3 8.3 8.6 8.2 7.3 6.9 6.6 12.3 8.6 8.6 8.6 7.5 6.8 6.4 6.5 8.4 2.6 2.4 2.2 1.7 1.8 1.8 1.9 1.4 1.2 1.3 1.3 1.0 0.9 0.9 0.9 0.8 0.7 0.8 0.7 0.7
Change in Working Capital (19.4) 8.0 9.6 (0.6) 3.5 5.8 1.3 (0.2) (2.4) 6.9 6.1 0.6 2.8 (2.2) (0.7) (0.9) (4.9) 3.6 4.0 (2.3) (0.6) 2.5 8.3 (0.5) 0.9 0.9 0.9 1.3 2.3 1.2 4.0 (2.4) 1.6 2.6 0.4 0.5 1.4 3.3 0.9 1.0 (0.2)
Other Non-Cash Items 16.4 2.1 0.2 (7.2) 0.3 4.0 (0.1) (0.1) (0.2) 2.5 (0.5) (18.8) (0.4) 1.0 0.1 0.0 (0.1) (1.0) (0.4) (0.3) (0.2) 0.0 0.0 0.0 0.1 (0.0) 0.0 0.1 (0.0) (0.0) (0.3) 0.0 0.0 (0.6) 0.2 (0.0) 0.1 (0.1) 0.2 0.0 0.0
Operating Cash Flow 14.6 29.3 29.2 15.0 16.0 23.7 15.3 6.9 2.4 17.5 11.4 (3.4) (6.9) 1.0 (2.3) (3.1) (3.6) 5.2 6.2 (2.2) (1.7) 4.0 9.8 4.8 2.9 4.5 4.7 2.9 4.0 3.7 7.4 (0.5) 2.1 3.0 3.0 1.8 1.9 3.4 1.3 1.6 (1.3)
Investing Activities
Capital Expenditure (0.8) (3.9) (5.3) (3.0) (1.9) (1.9) (1.9) (2.9) (3.1) (4.0) (4.4) (4.7) (5.2) (5.5) (4.1) (3.9) (3.6) (3.8) (2.8) (2.9) (2.9) (2.9) (1.3) (1.7) (1.5) (1.8) (1.8) (0.9) (0.9) (1.1) (56.4) (1.4) (1.0) (0.9) (1.0) (0.8) (0.5) (0.4) (0.5) (0.4) (0.7)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 (12.3) (2.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (3.0) 0 0 0 0 1.4 0 0 0 0 0
Purchases of Investments (47.9) (73.0) (41.0) (101.1) (40.9) (26.1) (26.1) (62.1) (19.2) (56.5) (29.5) (45.1) (34.8) (147.3) (78.3) (24.5) (22.9) (33.4) (18.9) (31.2) (12.2) (21.3) (17.4) (15.0) (11.6) (24.0) (13.3) (14.9) (17.4) (23.3) (12.2) (13.2) (7.1) (11.2) (5.8) (9.7) (5.2) (15.6) (4.8) (7.3) (4.0)
Sales/Maturities of Investments 48.9 34.8 43.6 61.0 33.2 45.9 26.1 36.7 19.0 42.9 29.7 43.9 73.8 134.7 73.3 19.0 12.2 18.8 8.5 20.1 10.5 14.2 9.0 15.7 5.1 21.5 6.3 11.7 10.2 8.0 12.4 9.7 5.3 7.5 4.2 7.8 3.9 14.7 3.2 5.6 3.7
Other Investing Activities (0.0) 0.0 0.4 0.6 0.6 0.5 0.5 0.5 0.5 0.2 0.8 0.5 0.1 (0.2) 0.1 (1.5) (0.0) (1.7) 0.0 (0.0) (0.0) (48.2) (0.0) 0.1 0.0 (1.0) (0.5) 0.0 (1.5) (0.3) 2.0 0.1 (1.8) (0.0) (0.0) (0.0) (2.7) (0.1) (0.1) (0.0) (0.0)
Investing Cash Flow 0.1 (42.1) (2.3) (42.5) (9.0) 18.5 (1.5) (27.7) (2.7) (17.4) (3.3) (5.5) 33.9 (30.6) (11.8) (10.9) (14.3) (20.1) (13.2) (14.0) (4.6) (58.2) (9.7) (0.9) (8.0) (5.2) (9.2) (4.1) (9.5) (16.6) (57.2) (4.8) (2.8) (4.6) (2.6) (1.3) (4.5) (1.4) (2.0) (2.1) (0.9)
Financing Activities
Net Debt Issuance (2.5) (4.5) (0.2) (15.2) (0.3) (0.3) (0.3) (0.3) (0.3) (0.3) 24.6 (0.4) 34.5 14.6 (0.3) (0.2) 54.5 0 0 0 0 (29.9) 2.5 (2.5) 3.7 4 3 1.0 5.2 4.2 (0.1) 3.8 5.5 2.0 1.0 1.4 0 0.9 3.1 (0.0) 1.0
Stock Repurchased (0.5) 0 0 0 0 0 0.6 (0.3) (0.2) 0 0 0.9 (0.9) 0 (0.0) (3.5) (2.3) (1.0) (1.0) (0.9) (1.9) (0.5) (0.2) (0.1) (0.3) (0.1) (1.4) (0.1) (0.2) 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 0 (0.8) (1.3) (1.0) (1.1) (1.4) (1.5) (0.4) (0.1) (0.5) (0.4) (1.0) 0 (0.6) (0.8) (2.9) 0 0 0 0 0 0 0 0 (0.1) 0 (0.0) (0.1) (0.3) 0.9 (2.4) 0 0 0 (1.2) 0 0 0 (0.7) 1.2 0.5
Financing Cash Flow (2.7) (5.1) (1.4) (15.9) (0.5) (1.7) (1.0) (1.0) (0.3) 0.6 24.8 (0.1) 33.8 14.7 (0.7) (6.0) 52.8 (0.5) (0.3) 0.2 (0.6) 163.6 4.9 (1.5) 3.9 4.7 2.2 1.7 5.4 5.6 (11.1) 71.0 5.8 2.2 0.0 2.0 0.9 1.7 3.3 1.2 1.5
Cash Position
Net Change in Cash 11.4 (16.7) 24.4 (41.5) 6.5 38.7 13.3 (22.0) (0.9) 1.9 32.0 (9.2) 61.1 (14.3) (16.1) (20.8) 35.1 (15.1) (7.7) (15.8) (6.8) 109.6 5.2 2.8 (1.9) 4.1 (2.4) 0.8 0.1 (8.1) (60.7) 65.4 5.1 0.5 0.6 2.7 (1.7) 3.6 2.4 0.7 (0.4)
Cash at Beginning 171.5 154.8 164.5 206.0 199.5 160.9 147.6 146.5 147.5 168.6 136.5 145.8 84.6 99.0 115.1 135.9 100.9 116.0 123.7 139.4 146.2 36.6 31.4 28.6 30.6 26.4 28.8 28.0 28.0 36.1 96.8 31.4 26.3 25.8 25.2 22.5 24.2 20.6 18.2 17.5 18.0
Cash at End 182.9 138.0 188.9 164.5 206.0 199.5 160.9 124.3 146.5 170.5 168.6 136.5 145.8 84.6 99.0 115.1 135.9 100.9 116.0 123.7 139.4 146.2 36.6 31.4 28.6 30.6 26.4 28.8 28.0 28.0 36.1 96.8 31.4 26.3 25.8 25.2 22.5 24.2 20.6 18.2 17.5
Free Cash Flow 13.7 25.3 23.9 12.0 14.0 21.8 13.4 4.0 (0.6) 13.5 7.0 (8.1) (12.0) (4.5) (6.4) (7.1) (7.1) 1.3 3.5 (5.1) (4.6) 1.0 8.5 3.1 1.4 2.7 2.9 2.0 3.1 2.6 (49.0) (1.8) 1.1 2.1 2.0 1.0 1.4 3.0 0.9 1.1 (2.0)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 384.0 376.9 366.9 353.6 342.0 337.3 327.5 314.8 306.1 295.9 285.9 270.6 256.3 246.0 233.8 219.4 206.0 194.4 181.7 168.3 154.7 142.7 130.1 117.9 111.3 105.5 99.3 92.2 87.0 82.6 78.2 73.4 69.8 66.5 63.1 58.3 54.7 51.3 48.4 45.8 42.7 40.2 37.9 35.6 33.3 31.9 30.3 28.1 25.6 24.0 22.1 19.8 17.8
Gross Profit 102.6 114.0 60.1 54.8 51.1 52.9 49.4 40.3 36.2 40.1 35.2 29.4 26.3 33.6 30.1 28.6 29.9 30.5 28.2 24.5 21.1 23.6 20.6 19.9 17.9 17.7 17.4 14.7 15.0 14.2 13.7 12.4 11.1 11.7 11.8 10.4 9.2 9.2 8.5 8.3 7.3 7.3 6.6 5.8 5.6 5.5 4.4 5.2 4.8 4.1 4.1 3.8 3.6
Operating Income 6.0 6.3 5.9 2.3 (1.5) 0.3 1.7 (5.5) (6.1) 0.4 (3.5) (13.1) (24.5) (9.2) (11.9) (12.8) (9.1) (5.8) (7.2) (9.5) (12.7) (3.2) (2.3) 1.5 (1.0) 0.6 0.8 (2.1) (1.3) (0.2) 0.9 (0.3) (1.5) (1.2) 0.5 (0.6) (1.3) (1.7) (1.5) (1.0) (2.5) (3.0) (4.6) (4.6) (4.6) (4.2) (5.4) (3.5) (2.9) (2.5) (1.1) (1.6) (1.8)
Net Income 4.9 5.6 5.9 9.4 (1.5) 1.7 1.4 (5.9) (6.9) (2.2) (4.0) (13.7) (24.8) (9.3) (12.9) (13.6) (8.9) (7.0) (6.8) (9.2) (12.4) (3.5) (2.6) 1.4 (1.1) 0.6 0.8 (1.9) (1.3) (0.3) 1.2 (0.4) (1.5) (0.8) 0.4 0.4 (1.5) (1.7) (1.6) (1.0) (2.6) (3.0) (4.6) (4.6) (4.9) (4.3) (8.5) (3.5) (4.9) (3.2) (1.2) (1.8) (1.9)
EPS (Diluted) 0.11 0.13 0.13 0.22 -0.03 0.04 0.03 -0.14 -0.16 -0.05 -0.10 -0.33 -0.60 -0.23 -0.32 -0.33 -0.22 -0.17 -0.17 -0.23 -0.31 -0.09 -0.07 0.04 -0.03 0.02 0.02 -0.06 -0.04 -0.01 0.03 -0.01 -0.05 -0.03 0.01 0.01 -0.05 -0.06 -0.06 -0.03 -0.09 -0.11 -0.17 -0.17 -0.18 -0.15 -0.31 -0.13 -3.22 -0.17 -0.79 -1.18 -0.10
Balance Sheet
Cash & Equivalents 153.5 138.0 154.8 122.7 166.3 160.3 137.5 124.3 146.5 147.5 150.3 118.4 126.7 65.6 85.5 101.6 122.5 87.4 109.6 117.3 133.1 139.9 35.2 30.0 27.2 29.2 25.0 27.4 26.6 26.6 34.7 95.4 30.8 25.7 25.2 24.6 21.9 23.6 20.6 18.2 17.5
Total Assets 921.6 915.0 880.2 847.8 837.2 806.9 816.1 795.9 789.5 782.9 772.0 730.2 717.9 671.6 647.9 635.2 634.6 562.6 550.7 532.0 513.7 498.2 317.1 290.3 273.2 257.2 243.0 230.5 221.3 207.5 199.9 194.3 117.2 105.9 101.9 95.7 87.7 82.3 78.5 73.9 70.9
Total Debt 109.3 111.8 114.5 114.5 128.9 128.9 128.9 128.9 128.8 128.9 128.9 104.0 104.2 69.5 54.2 54.2 54.3 0 0 0 0 0 29.8 27.3 29.8 26.1 22.1 19.1 18.1 12.9 8.6 18.6 14.9 9.3 7.3 6.3 4.8 4.8 4.0 1.0 1.0
Stockholders' Equity 394.8 383.9 368.6 355.5 333.7 323.3 320.2 305.8 303.4 303.7 289.5 288.8 294.8 305.3 305.7 314.8 328.5 332.2 332.0 334.2 336.1 339.9 144.3 141.9 136.8 136.8 132.8 131.0 130.0 129.2 127.9 116.3 48.2 48.4 48.0 47.2 45.1 44.7 44.8 45.5 44.3
Cash Flow
Operating Cash Flow 14.6 29.3 29.2 15.0 16.0 23.7 15.3 6.9 2.4 17.5 11.4 (3.4) (6.9) 1.0 (2.3) (3.1) (3.6) 5.2 6.2 (2.2) (1.7) 4.0 9.8 4.8 2.9 4.5 4.7 2.9 4.0 3.7 7.4 (0.5) 2.1 3.0 3.0 1.8 1.9 3.4 1.3 1.6 (1.3)
Capital Expenditure (0.8) (3.9) (5.3) (3.0) (1.9) (1.9) (1.9) (2.9) (3.1) (4.0) (4.4) (4.7) (5.2) (5.5) (4.1) (3.9) (3.6) (3.8) (2.8) (2.9) (2.9) (2.9) (1.3) (1.7) (1.5) (1.8) (1.8) (0.9) (0.9) (1.1) (56.4) (1.4) (1.0) (0.9) (1.0) (0.8) (0.5) (0.4) (0.5) (0.4) (0.7)
Free Cash Flow 13.7 25.3 23.9 12.0 14.0 21.8 13.4 4.0 (0.6) 13.5 7.0 (8.1) (12.0) (4.5) (6.4) (7.1) (7.1) 1.3 3.5 (5.1) (4.6) 1.0 8.5 3.1 1.4 2.7 2.9 2.0 3.1 2.6 (49.0) (1.8) 1.1 2.1 2.0 1.0 1.4 3.0 0.9 1.1 (2.0)