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Trupanion TRUP Subscription business — Goodwill, Impairment Loss

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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 us-gaap:GoodwillImpairmentLoss.

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
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Technology and development26,01620,82213,765
General and administrative52,68642,45736,256
New pet acquisition expense85,26971,24077,172
Goodwill impairment charges1,1295,299
Depreciation and amortization10,88510,9708,021
Subscription business operating income (loss)22,473(1,118)(35,994)
Other business:
Revenue449,967429,163395,699

Item 8. Financial Statements and Supplementary Data

FAQ

What is Trupanion's subscription business — goodwill, impairment loss?
Trupanion (TRUP) reported subscription business — goodwill, impairment loss of $282.25K in Q4 2025.
What does subscription business — goodwill, impairment loss mean?
This represents the reduction in the carrying value of goodwill when the fair value of a reporting unit falls below its book value. It serves as a critical indicator of potential overpayment for past acquisitions or a decline in the long-term economic prospects of a specific business segment. Investors monitor this to identify non-cash charges that impact net income and signal shifts in strategic asset valuation.

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