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Trupanion TRUP Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs at other companies

Trupanion logo
TrupanionTRUP
$8.5M+13.3%
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BlackLineBL
$85.1M-2.4%
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Palomar Holdings, Inc.PLMR
$153.82M+32.2%
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Root, Inc.ROOT
$47.1M+21.7%
Equitable Holdings logo
Equitable HoldingsEQH
$7.64B+3.8%
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AssurantAIZ
$10.38B+2.4%

Other financials

Income statement

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Revenue$392.9M+11.1%
Gross profit$65.1M+18.8%
Operating income$6.4M+176%
Net income$6.8M-27.4%
EPS (diluted)$0.16-27.3%

Balance sheet

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Cash & equivalents$178.3M+8.4%
Total debt$106.9M-6.6%
Total equity$409.7M+15.3%
Total assets$930.8M+9.8%

Cash flow

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Operating cash flow$21.0M+39.7%
CapEx$1.8M-38.7%
Free cash flow$19.2M+59.0%

Valuation

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Market cap$1.06B-48.9%
Enterprise value$992.51M-51.1%
P/E45.8×
P/S0.7×-0.8×

Profitability

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Gross margin16.6%+1.2pp
Operating margin1.6%+1.4pp
Net margin1.5%
FCF margin5.4%+0.9pp

Returns & leverage

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Return on equity6.1%
Debt / equity0.3×-0.1×
Current ratio1.8×+0.1×

Where this comes from

Reported directly by Trupanion in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The source filing: Trupanion’s 10-K, filed February 13, 2026.

Filed
Feb 13, 2026, 4:07 PM EST
Fiscal year
FY2025
Accession
0001371285-26-000018

The Company incurs certain costs, including premium taxes, enrollment-based bonuses, and referral fees that directly relate to the successful acquisition of new or renewal customer contracts. These costs are deferred and are included in prepaid expenses and other assets on the consolidated balance sheet and amortized over the related policy term to the applicable financial statement line item, either new pet acquisition expense or other cost of revenue. Deferred acquisition costs as of December 31, 2025 and 2024 were $8.5 million and $7.5 million, respectively. Amortized deferred acquisition costs classified within new pet acquisition expense amounted to $9.3 million, $6.9 million, and $6.0 million and amortized deferred acquisition costs classified within other cost of revenue amounted to $55.3 million, $51.5 million, and $45.6 million, for the years ended December 31, 2025, 2024, and 2023, respectively.

Item 8. Financial Statements and Supplementary Data

FAQ

What is Trupanion's deferred policy acquisition costs?
Trupanion (TRUP) reported deferred policy acquisition costs of $8.5M in Q4 2025.
How has Trupanion's deferred policy acquisition costs changed year-over-year?
Trupanion's deferred policy acquisition costs increased by 13.3% year-over-year, from $7.5M to $8.5M.
What is the long-term trend for Trupanion's deferred policy acquisition costs?
Over 5 years (2020 to 2025), Trupanion's deferred policy acquisition costs has grown at a 24.0% compound annual growth rate (CAGR), from $2.9M to $8.5M.
What does deferred policy acquisition costs mean?
Deferred Policy Acquisition Costs as reported by Trupanion, Inc..

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