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Trupanion

TRUP

Trupanion is a leading provider of medical insurance for cats and dogs, operating a data-driven, vertically-integrated model across North America and parts of Europe.

Market cap
$1.08B-46.7%
Revenue$1.5B+12.1%
Net income$25.8M+302%
Free cash flow$75.1M+41.0%
EPS (diluted)$0.59+297%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 5, 2026 (In 1 week)
Revenue estimate$389.7M
EPS estimate$0.11

Financials

Q1 2026

Income statement

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Revenue$384.0M+12.3%
Gross profit$61.5M+20.3%
Operating income$4.8M+424%
Net income$4.9M+429%
EPS (diluted)$0.11+467%

Balance sheet

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Cash & equivalents$182.9M-11.2%
Total debt$109.3M-15.2%
Total equity$394.8M+18.3%
Total assets$921.6M+10.1%

Cash flow

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Operating cash flow$14.6M-8.6%
CapEx$847.0K-56.1%
Free cash flow$13.7M-2.1%

Valuation & ratios

Valuation

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Market cap$1.08B-46.7%
Enterprise value$1.01B-51.2%
P/E42.1×
P/S0.7×-0.8×

Profitability

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Gross margin16.3%+1.6pp
Operating margin1.4%+1.1pp
Net margin1.7%
FCF margin5.1%+1.0pp

Returns & leverage

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Return on equity7.1%
Debt / equity0.3×-0.1×
Current ratio1.7×0.0×

Segments

By segment

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Subscription business$269.5M+15.6%
Other Segments$114.6M+5.2%

Competitors

Profile

Trupanion is a leading provider of medical insurance for cats and dogs, operating a data-driven, vertically-integrated model across North America and parts of Europe. The company leverages over 25 years of proprietary pet health data to offer high-value, cost-plus subscription plans that help pet owners budget for unexpected veterinary expenses. Its core value proposition is built on a patented software platform that enables direct, real-time payments to veterinary hospitals at the point of care.

Competitive position

Trupanion maintains a significant competitive advantage through its proprietary data-driven pricing and patented software that allows for direct-to-veterinarian payments, creating a unique 'flywheel' effect with veterinary referrals.

GeographiesUnited States, Canada, Germany, Switzerland, Czechia, United Kingdom
Customer segmentsPet owners, Veterinary hospitals, Enterprise employees
Business modelSubscription, Direct-to-Consumer, B2B2C, Vertical Integration
SuppliersVeterinary health data, Actuarial modeling, Cloud infrastructure, Reinsurance providers
CustomersIndividual pet parents, Veterinary clinics, Corporate benefit managers, Third-party insurance marketers
Listed2014
Employees1.1K
CEOMargaret Rosemary Maria Tooth
FilingsSEC EDGAR

Questions, answered.

What is Trupanion's market cap?
Trupanion (TRUP) has a market capitalization of $1.1B and trades on NASDAQ.
What is Trupanion's revenue and profitability?
Trupanion generated $1.5B in trailing twelve-month revenue with net income of $25.8M, representing a net margin of 1.7%. Gross margin stands at 16.3%, with free cash flow of $75.1M. These figures are based on the Q1 2026 filing.
Who are Trupanion's competitors?
Trupanion's key competitors include MetLife, Aflac, The Travelers Companies, Inc., and others. These companies compete in similar markets and product categories.
Who does Trupanion partner with?
Trupanion's notable partners include Pets Best Insurance Services, Accelerant Insurance Company of Canada, U.S. Department of Veterans Affairs, and others.
What subsidiaries does Trupanion have?
Trupanion's subsidiaries include American Pet Insurance Company, GPIC Insurance Company, ZPIC Insurance Company, and others.
Where is Trupanion headquartered?
Trupanion is headquartered in United States of America and employs approximately 1,142 people. It has been publicly traded since 2014.