TRUP

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Trupanion, Inc.

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Key Metrics

Previous Close: $31.10
52-Week Range: $21.16 – $48.48
Market Cap: $1.34B
P/E (TTM): 57.89
EPS (TTM): 0.53
Dividend Yield: —

Advanced Metrics

Price/Book: 3.29
PEG Ratio: —
Return on Equity: 6.07%
Return on Assets: 1.78%
Gross Margin: 22.58%
Operating Margin: 1.62%
Profit Margin: 1.53%
Current Ratio: 1.77
Debt/Equity: 0.26
Total Debt: $106.91M
Free Cash Flow: $11.55M
Revenue Growth: 11.10%
Earnings Growth: -28.90%
Enterprise Value: $1.07B

TRUP Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$905.18M	$1.11B	$1.29B	$1.44B
Cost of Revenue	$782.99M	$977.59M	$1.11B	$1.21B
Gross Profit	$122.19M	$131.02M	$178.80M	$231.01M
Research & Development	$25.13M	$21.40M	$31.25M	$37.85M
Selling, General & Admin	$39.38M	$60.21M	$63.73M	$76.65M
Operating Expenses	$75.43M	$94.08M	$111.45M	$130.33M
Operating Income	$46.75M	$36.93M	$67.35M	$100.68M
EBITDA	-$29.01M	-$20.48M	$21.33M	$51.59M
Pretax Income	-$44.20M	-$45.03M	-$9.64M	$21.99M
Income Tax	$476.00K	-$342.00K	-$5.00K	$2.56M
Net Income	-$44.67M	-$44.69M	-$9.63M	$19.43M
Diluted EPS	-1.10	-1.08	-0.23	0.45
Diluted Shares	40.77M	41.44M	42.16M	43.56M

TRUP Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$65.61M	$147.50M	$160.29M	$138.02M
Receivables	$232.44M	$267.90M	$274.03M	$301.94M
Current Assets	$469.10M	$562.09M	$597.33M	$691.06M
Total Assets	$671.63M	$782.95M	$806.85M	$915.04M
Current Liabilities	$289.62M	$344.47M	$349.63M	$409.81M
Long-Term Debt	$68.35M	$127.58M	$127.54M	$101.78M
Total Debt	$69.46M	$128.93M	$128.89M	$111.78M
Total Liabilities	$366.33M	$479.23M	$483.58M	$531.11M
Retained Earnings	-$171.56M	-$216.25M	-$225.89M	-$206.46M
Shareholders' Equity	$305.30M	$303.72M	$323.27M	$383.94M
Working Capital	$179.48M	$217.62M	$247.70M	$281.25M
Net Debt	$3.85M	—	—	—

TRUP Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$8.00M	$18.64M	$48.29M	$89.49M
Capital Expenditure	-$17.09M	-$18.28M	-$9.72M	-$14.13M
Free Cash Flow	-$25.09M	$358.00K	$38.57M	$75.36M
Depreciation & Amortisation	$10.92M	$12.47M	$16.47M	$15.84M
Stock-Based Compensation	$33.39M	$33.16M	$33.43M	$38.31M
Investing Cash Flow	-$67.52M	$7.64M	-$13.46M	-$95.89M
Financing Cash Flow	$60.74M	$59.13M	-$3.96M	-$22.86M
Share Repurchases	-$10.11M	-$1.54M	-$2.52M	-$3.71M
Net Change in Cash	-$14.77M	$85.40M	$30.94M	-$29.26M

TRUP Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$341.98M	$353.56M	$366.92M	$376.85M	$384.05M
Cost of Revenue	$290.87M	$298.73M	$306.87M	$311.83M	$322.56M
Gross Profit	$51.10M	$54.83M	$60.05M	$65.03M	$61.49M
Research & Development	$8.07M	$8.59M	$9.89M	$11.30M	$11.29M
Selling, General & Admin	$19.89M	$20.12M	$18.31M	$18.32M	$19.10M
Operating Expenses	$31.75M	$32.67M	$32.25M	$33.66M	$34.10M
Operating Income	$19.35M	$22.16M	$27.80M	$31.37M	$27.39M
EBITDA	$5.56M	$18.19M	$13.44M	$14.40M	$11.54M
Pretax Income	-$1.44M	$10.55M	$6.60M	$6.29M	$5.96M
Income Tax	$39.00K	$1.13M	$726.00K	$663.00K	$1.08M
Net Income	-$1.48M	$9.41M	$5.87M	$5.63M	$4.88M
Diluted EPS	-0.03	0.22	0.13	0.13	0.11
Diluted Shares	42.78M	43.33M	43.56M	43.57M	43.68M

TRUP Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$166.31M	$122.74M	$154.77M	$138.02M	$153.46M
Receivables	$290.10M	$292.82M	$302.53M	$301.94M	$304.80M
Current Assets	$628.34M	$629.08M	$668.03M	$691.06M	$705.17M
Total Assets	$837.16M	$847.79M	$880.17M	$915.04M	$921.58M
Current Liabilities	$369.34M	$372.29M	$390.77M	$409.81M	$408.37M
Long-Term Debt	$127.53M	$113.12M	$113.79M	$101.78M	$99.35M
Total Debt	$128.88M	$114.47M	$114.54M	$111.78M	$109.35M
Total Liabilities	$503.49M	$492.33M	$511.61M	$531.11M	$526.76M
Retained Earnings	-$227.37M	-$217.96M	-$212.09M	-$206.46M	-$201.57M
Shareholders' Equity	$333.67M	$355.45M	$368.56M	$383.94M	$394.82M
Working Capital	$259.00M	$256.79M	$277.26M	$281.25M	$296.80M

TRUP Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$15.96M	$15.03M	$29.24M	$29.26M	$14.59M
Capital Expenditure	-$1.93M	-$2.98M	-$5.30M	-$3.92M	-$847.00K
Free Cash Flow	$14.04M	$12.05M	$23.93M	$25.34M	$13.75M
Depreciation & Amortisation	$3.79M	$3.96M	$4.05M	$4.03M	$3.71M
Stock-Based Compensation	$9.83M	$9.46M	$9.50M	$9.53M	$9.00M
Investing Cash Flow	-$8.97M	-$42.47M	-$2.32M	-$42.13M	$113.00K
Financing Cash Flow	-$459.00K	-$15.89M	-$1.44M	-$5.08M	-$2.74M
Share Repurchases	-$915.00K	-$773.00K	-$1.18M	-$845.00K	-$496.00K
Net Change in Cash	$6.53M	-$43.33M	$25.48M	-$17.94M	$11.97M

Market Snapshot

About

Trupanion is a leading provider of medical insurance for cats and dogs in North America, offering comprehensive coverage for veterinary costs. The company operates a subscription-based model with a focus on high-value, lifetime pet insurance policies. Trupanion partners with veterinarians and animal hospitals to provide direct payment at the time of service.