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Trupanion TRUP Subscription business — Claims expense non-cash

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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$1.18B-44.4%
Enterprise value$1.11B-46.4%
P/E51×
P/S0.8×-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 trup:Claimsexpensenoncash.

The source filing: Trupanion’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 5:02 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001371285-26-000172
SubscriptionSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Prior years2,4112,132
Total veterinary invoice expense386,217341,055
Amounts paid during the period related to:
Current year360,156315,253
Prior years23,56321,355
Total paid383,719336,608
Non-cash expenses1,0781,624
Reserve at end of period$27,784$25,907

Item 1. Financial Statements

FAQ

What is Trupanion's subscription business — claims expense non-cash?
Trupanion (TRUP) reported subscription business — claims expense non-cash of $501K in Q2 2026.
How has Trupanion's subscription business — claims expense non-cash changed year-over-year?
Trupanion's subscription business — claims expense non-cash decreased by 36.7% year-over-year, from $792K to $501K.
What is the long-term trend for Trupanion's subscription business — claims expense non-cash?
Over 4 years (2021 to 2025), Trupanion's subscription business — claims expense non-cash has grown at a -11.0% compound annual growth rate (CAGR), from $4.68M to $2.93M.
What does subscription business — claims expense non-cash mean?
Represents the portion of claims-related expenses that do not involve an immediate cash outflow, such as amortization of deferred acquisition costs or specific accounting adjustments. Distinguishing non-cash expenses from cash claims payments allows for a clearer view of the underlying operational cash flow. This helps investors isolate accounting-driven volatility from actual insurance underwriting performance.

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