TRUP · Trupanion, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $384.05M | - | $366.92M | $353.56M | $341.98M | - | $327.46M | $314.80M | $306.12M | - |
| Cost of Revenue | $322.56M | - | $306.87M | $298.73M | $290.87M | - | $278.08M | $274.53M | $269.89M | - |
| Gross Profit | $61.49M | - | $60.05M | $54.83M | $51.10M | - | $49.38M | $40.27M | $36.23M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $19.10M | - | $18.31M | $20.12M | $19.89M | - | $16.98M | $15.25M | $14.67M | - |
| Total Operating Expenses | $56.71M | - | $54.20M | $52.51M | $52.27M | - | $47.60M | $45.69M | $42.26M | - |
| D&A | $3.71M | - | $4.05M | $3.96M | $3.79M | - | $4.38M | $4.38M | $3.79M | - |
| Operating Income | $4.78M | - | $5.86M | $2.31M | ($1.47M) | - | $1.75M | ($5.47M) | ($6.14M) | - |
| Interest Expense | $1.88M | - | $2.79M | $3.68M | $3.21M | - | $3.82M | $3.65M | $3.60M | - |
| Income Tax | $1.08M | - | $726.0K | $1.13M | $39.0K | - | $39.0K | ($44.0K) | ($38.0K) | - |
| Net Income | $4.88M | - | $5.87M | $9.41M | ($1.48M) | - | $1.43M | ($5.86M) | ($6.85M) | - |
| EPS - Basic | $0.11 | - | $0.14 | $0.22 | ($0.03) | - | $0.03 | ($0.14) | ($0.16) | - |
| EPS - Diluted | $0.11 | - | $0.13 | $0.22 | ($0.03) | - | $0.03 | ($0.14) | ($0.16) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $153.46M | $138.02M | $154.77M | $122.74M | $166.31M | $160.29M | $137.48M | $124.34M | $146.46M | $147.50M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $12.83M | $16.45M | $12.76M | $8.67M | $9.68M | $11.53M | $10.14M | $6.63M | $8.35M | $10.51M |
| Current Assets | $705.17M | $691.06M | $668.03M | $629.08M | $628.34M | $597.33M | $599.57M | $578.86M | $570.76M | $562.09M |
| Total Assets | $921.58M | $915.04M | $880.17M | $847.79M | $837.16M | $806.85M | $816.12M | $795.95M | $789.46M | $782.95M |
| Current Liabilities | $408.37M | $409.81M | $390.77M | $372.29M | $369.34M | $349.63M | $361.85M | $355.81M | $351.58M | $344.47M |
| Long-term Debt | $101.78M | $101.78M | $113.79M | $113.12M | $127.53M | $127.54M | $127.55M | $127.56M | $127.58M | $127.58M |
| Total Liabilities | $526.76M | $531.11M | $511.61M | $492.33M | $503.49M | $483.58M | $495.94M | $490.10M | $486.09M | $479.23M |
| Stockholders' Equity | $394.82M | $383.94M | $368.56M | $355.45M | $333.67M | $323.27M | $320.18M | $305.85M | $303.37M | $303.72M |
| Retained Earnings | ($201.57M) | ($206.46M) | ($212.09M) | ($217.96M) | ($227.37M) | ($225.89M) | ($227.54M) | ($228.97M) | ($223.11M) | ($216.25M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.59M | - | - | - | $15.96M | - | - | - | $2.43M | - |
| Investing Cash Flow | $113.0K | - | - | - | ($8.97M) | - | - | - | ($2.74M) | - |
| Financing Cash Flow | ($2.74M) | - | - | - | ($459.0K) | - | - | - | ($286.0K) | - |
| CapEx | $847.0K | - | - | - | $1.93M | - | - | - | $3.06M | - |
| Free Cash Flow | $13.75M | - | - | - | $14.04M | - | - | - | ($631.0K) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 16.0% | - | 16.4% | 15.5% | 14.9% | - | 15.1% | 12.8% | 11.8% | - |
| Operating margin | 1.2% | - | 1.6% | 0.7% | -0.4% | - | 0.5% | -1.7% | -2.0% | - |
| EBITDA margin | 2.2% | - | 2.7% | 1.8% | 0.7% | - | 1.9% | -0.3% | -0.8% | - |
| Net margin | 1.3% | - | 1.6% | 2.7% | -0.4% | - | 0.4% | -1.9% | -2.2% | - |
| Free cash flow margin | 3.6% | - | - | - | 4.1% | - | - | - | -0.2% | - |
| FCF / Net income | 2.82 | - | - | - | -9.46 | - | - | - | 0.09 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.0% | - | 5.0% | 5.7% | 5.8% | - | 5.2% | 4.8% | 4.8% | - |
| Effective tax rate | 18.1% | - | 11.0% | 10.7% | - | - | 2.7% | - | - | - |
| Return on assets | 0.5% | - | 0.7% | 1.1% | -0.2% | - | 0.2% | -0.7% | -0.9% | - |
| Return on equity | 1.2% | - | 1.6% | 2.6% | -0.4% | - | 0.4% | -1.9% | -2.3% | - |
| Return on invested capital | 0.8% | - | 1.1% | 0.4% | -0.3% | - | 0.4% | -1.0% | -1.1% | - |
| Liquidity | ||||||||||
| Current ratio | 1.73 | 1.69 | 1.71 | 1.69 | 1.70 | 1.71 | 1.66 | 1.63 | 1.62 | 1.63 |
| Quick ratio | 1.73 | 1.69 | 1.71 | 1.69 | 1.70 | 1.71 | 1.66 | 1.63 | 1.62 | 1.63 |
| Cash ratio | 0.38 | 0.34 | 0.40 | 0.33 | 0.45 | 0.46 | 0.38 | 0.35 | 0.42 | 0.43 |
| Leverage | ||||||||||
| Debt / Equity | 0.26 | 0.27 | 0.31 | 0.32 | 0.38 | 0.39 | 0.40 | 0.42 | 0.42 | 0.42 |
| Debt / Assets | 0.11 | 0.11 | 0.13 | 0.13 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| Debt / EBITDA | 12.00 | - | 11.48 | 18.02 | 55.02 | - | 20.82 | - | - | - |
| Interest coverage | 2.5x | - | 2.1x | 0.6x | -0.5x | - | 0.5x | -1.5x | -1.7x | - |
| Equity multiplier | 2.33 | 2.38 | 2.39 | 2.39 | 2.51 | 2.50 | 2.55 | 2.60 | 2.60 | 2.58 |
| Liabilities / Assets | 0.57 | 0.58 | 0.58 | 0.58 | 0.60 | 0.60 | 0.61 | 0.62 | 0.62 | 0.61 |
| Efficiency | ||||||||||
| Asset turnover | 0.42 | - | 0.42 | 0.42 | 0.41 | - | 0.40 | 0.40 | 0.39 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 15d | - | 15d | 11d | 12d | - | 13d | 9d | 11d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 232.8x | - | 332.9x | 251.6x | - | - | 1399.3x | - | - | - |
| P / B | 2.8x | - | 5.1x | 6.7x | 4.8x | - | 5.6x | 4.0x | 3.8x | - |
| P / S | 2.9x | - | 5.1x | 6.8x | 4.7x | - | 5.5x | 3.9x | 3.8x | - |
| EV / EBITDA | 125.8x | - | 186.1x | 380.6x | 671.0x | - | 291.8x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 12.3% | - | 12.1% | 12.3% | 11.7% | - | 14.6% | 16.3% | 19.4% | - |
| Revenue CAGR (3y) | 14.4% | - | 16.2% | 17.2% | 18.4% | - | 21.7% | 23.2% | 25.5% | - |
| Revenue CAGR (5y) | 19.9% | - | 23.0% | 24.6% | 25.2% | - | 27.0% | 27.8% | 28.6% | - |
| Gross profit growth (YoY) | 20.3% | - | 21.6% | 36.2% | 41.1% | - | 40.1% | 37.1% | 37.5% | - |
| Operating income growth (YoY) | - | - | 235.6% | - | 76.0% | - | - | 58.2% | 74.9% | - |
| Net income growth (YoY) | - | - | 312.1% | - | 78.4% | - | - | 57.3% | 72.3% | - |
| EPS growth (YoY) | - | - | 333.3% | - | 81.3% | - | - | 57.6% | 73.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | 40.6% | - | - | 8.4% | - | - | - |
| FCF growth (YoY) | -2.1% | - | - | - | - | - | - | - | 94.8% | - |
| FCF CAGR (5y) | - | - | - | - | 57.9% | - | - | - | - | - |
| Book value growth (YoY) | 18.3% | 18.8% | 15.1% | 16.2% | 10.0% | 6.4% | 10.6% | 5.9% | 2.9% | -0.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.44B totalSubscriptionbusiness$989.34M · 68.7%
All Other Segments$449.97M · 31.3%
Geographic
$1.20B totalUS$1.20B · 100.0%
Peer comparison
Same SIC group: Hospital & Medical Service Plans
Comparing TRUPANION against the 5 most active filers in the same SIC group.