Go Pro
→ Your book attached (From Profits Run) (Ad)tc pixel Free TRUP Stock Alerts

Trupanion (TRUP) Financials

Trupanion logo
$27.80 0.00 (0.00%)
As of 09/4/2026 04:00 PM Eastern
Compare
Annual Income Statements for Trupanion

Annual Income Statements for Trupanion

This table shows Trupanion's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -17 -6.90 -1.50 -0.93 -1.81 -5.84 -36 -45 -45 -9.63 19
Consolidated Net Income / (Loss)		 -17 -6.90 -1.50 -0.93 -1.81 -5.84 -36 -45 -45 -9.63 19
Net Income / (Loss) Continuing Operations		 -17 -6.90 -1.50 -0.93 -1.81 -5.84 -36 -45 -45 -9.63 19
Total Pre-Tax Income 		-17 -6.86 -1.93 -0.93 -1.64 -5.73 -35 -44 -45 -9.64 22
Total Operating Income		 -17 -6.70 -2.64 -1.05 -1.92 -4.80 -35 -43 -41 -9.51 14
Total Gross Profit		 25 33 43 51 65 82 104 122 131 179 231
Total Revenue		 147 188 243 304 384 502 699 905 1,109 1,286 1,439
Total Cost of Revenue		 122 155 200 253 319 420 595 783 978 1,107 1,208
Operating Cost of Revenue		 103 134 200 253 319 420 595 783 978 1,107 1,208
Total Operating Expenses		 42 40 46 52 67 87 140 165 172 188 217
Selling, General & Admin Expense		 16 15 17 17 18 22 32 39 60 64 77
Marketing Expense		 15 15 19 25 35 48 79 90 77 71 85
Research & Development Expense		 11 9.53 9.77 5.80 7.03 9.95 17 25 21 31 38
Depreciation Expense		 - - - 4.51 5.63 7.07 12 11 12 16 16
Other Operating Expenses / (Income)		 - - 0.00 0.00 0.35 - 0.17 0.25 0.22 0.18 0.31
Impairment Charge		 - - - - - - - 0.00 0.00 5.30 1.13
Total Other Income / (Expense), net		 -0.32 -0.16 0.71 0.11 0.28 -0.93 -0.01 -1.20 -4.38 -0.12 8.16
Interest Expense		 0.33 0.22 0.53 1.20 1.35 1.38 0.01 4.27 12 14 14
Other Income / (Expense), net		 0.01 0.06 1.24 1.31 1.63 0.58 0.00 3.07 7.70 14 22
Income Tax Expense		 0.11 0.04 -0.43 -0.01 0.17 0.11 0.31 0.48 -0.34 -0.01 2.56
Basic Earnings per Share		 ($0.62) ($0.24) ($0.05) ($0.03) ($0.05) ($0.16) ($0.89) ($1.10) ($1.08) ($0.23) $0.45
Weighted Average Basic Shares Outstanding		 27.64M 28.53M 29.59M 31.96M 34.65M 35.86M 40.14M 40.77M 41.44M 42.16M 42.96M
Diluted Earnings per Share		 ($0.62) $0.00 $0.00 $0.00 ($0.05) ($0.16) ($0.89) ($1.10) ($1.08) ($0.23) $0.45
Weighted Average Diluted Shares Outstanding		 27.64M 0.00 0.00 0.00 34.65M 35.86M 40.14M 40.77M 41.44M 42.16M 43.56M
Weighted Average Basic & Diluted Shares Outstanding		 27.64M 28.53M 29.59M 31.96M 34.65M 35.86M 40.14M 82.04M 83.63M 42.49M 43.43M

Quarterly Income Statements for Trupanion

This table shows Trupanion's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -2.16 -6.85 -5.86 1.43 1.66 -1.48 9.41 5.87 5.63 4.88 6.83
Consolidated Net Income / (Loss)		 -2.16 -6.85 -5.86 1.43 1.66 -1.48 9.41 5.87 5.63 4.88 6.83
Net Income / (Loss) Continuing Operations		 -2.16 -6.85 -5.86 1.43 1.66 -1.48 9.41 5.87 5.63 4.88 6.83
Total Pre-Tax Income 		-2.03 -6.89 -5.91 1.46 1.69 -1.44 11 6.60 6.29 5.96 7.37
Total Operating Income		 0.41 -6.14 -5.47 1.75 0.35 -1.47 2.31 5.86 7.14 4.78 6.38
Total Gross Profit		 40 36 40 49 53 51 55 60 65 61 65
Total Revenue		 296 306 315 327 337 342 354 367 377 384 393
Total Cost of Revenue		 256 270 275 278 284 291 299 307 312 323 328
Operating Cost of Revenue		 256 270 275 278 284 291 299 307 312 323 328
Total Operating Expenses		 39 42 46 48 53 53 53 54 58 57 59
Selling, General & Admin Expense		 13 15 15 17 17 20 20 18 18 19 20
Marketing Expense		 17 17 18 18 18 21 20 22 23 23 23
Research & Development Expense		 5.97 6.96 8.19 7.93 8.17 8.07 8.59 9.89 11 11 13
Depreciation Expense		 3.03 3.79 4.38 4.38 3.92 3.79 3.96 4.05 4.03 3.71 3.67
Other Operating Expenses / (Income)		 0.08 0.10 0.05 0.03 -0.00 0.31 0.00 0.00 - 0.00 0.00
Total Other Income / (Expense), net		 -2.44 -0.75 -0.44 -0.28 1.35 0.03 8.23 0.74 -0.84 1.18 1.00
Interest Expense		 3.70 3.60 3.66 3.82 3.43 3.21 3.68 2.79 4.08 1.88 1.83
Other Income / (Expense), net		 1.26 2.84 3.22 3.54 4.77 3.24 12 3.53 3.23 3.06 2.83
Income Tax Expense		 0.13 -0.04 -0.04 0.04 0.04 0.04 1.13 0.73 0.66 1.08 0.54
Basic Earnings per Share		 ($0.05) ($0.16) ($0.14) $0.03 $0.04 ($0.03) $0.22 $0.14 $0.12 $0.11 $0.16
Weighted Average Basic Shares Outstanding		 41.44M 41.92M 42.08M 42.23M 42.16M 42.78M 42.87M 43.08M 42.96M 43.51M 43.73M
Diluted Earnings per Share		 ($0.05) ($0.16) ($0.14) $0.03 $0.04 ($0.03) $0.22 $0.13 $0.13 $0.11 $0.16
Weighted Average Diluted Shares Outstanding		 41.44M 41.92M 42.08M 42.82M 42.16M 42.78M 43.33M 43.56M 43.56M 43.68M 43.82M
Weighted Average Basic & Diluted Shares Outstanding		 83.63M 42.02M 42.16M 42.34M 42.49M 42.78M 42.99M 43.20M 43.43M 43.62M 43.87M

Annual Cash Flow Statements for Trupanion

This table details how cash moves in and out of Trupanion's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -35 6.28 2.07 1.65 2.62 116 -45 -16 86 29 -28
Net Cash From Operating Activities		 -10 5.01 9.67 -13 16 22 7.46 -8.00 19 48 89
Net Cash From Continuing Operating Activities		 -10 4.80 9.67 13 16 22 7.46 -8.00 19 48 89
Net Income / (Loss) Continuing Operations		 -17 -6.90 -1.50 -0.93 -1.81 -5.84 -36 -45 -45 -9.63 19
Consolidated Net Income / (Loss)		 -17 -6.90 -1.50 -0.93 -1.81 -5.84 -36 -45 -45 -9.63 19
Depreciation Expense		 2.54 3.85 4.23 4.51 5.63 7.07 12 11 12 16 16
Non-Cash Adjustments To Reconcile Net Income		 3.07 2.84 2.00 4.54 6.95 9.07 26 34 35 37 34
Changes in Operating Assets and Liabilities, net		 1.30 5.01 4.94 4.56 5.38 11 4.72 -8.69 16 4.47 20
Net Cash From Investing Activities		 -9.92 -6.51 -13 -81 -28 -77 -52 -68 7.64 -13 -96
Net Cash From Continuing Investing Activities		 -9.92 -6.51 -13 -81 -28 -77 -52 -68 7.64 -13 -96
Purchase of Property, Plant & Equipment		 -4.89 -1.94 -3.13 -57 -5.37 -7.45 -12 -17 -18 -9.72 -14
Acquisitions		 - 0.00 0.00 -2.96 0.00 -48 0.00 -15 0.00 0.00 0.00
Purchase of Investments		 -25 -32 -32 -56 -70 -65 -96 -273 -166 -133 -256
Sale and/or Maturity of Investments		 20 27 23 35 50 44 58 239 190 128 173
Other Investing Activities, net		 - -0.20 -2.78 -1.11 -2.89 0.06 -1.76 -1.60 1.59 2.10 1.66
Net Cash From Financing Activities		 -14 7.67 5.08 71 14 171 -1.13 61 59 -3.96 -23
Net Cash From Continuing Financing Activities		 -14 7.67 5.08 71 14 171 -1.13 61 59 -3.96 -23
Repayment of Debt		 0.00 -0.40 -0.69 -9.64 -0.44 -33 0.00 -0.57 -2.10 -2.19 -135
Issuance of Debt		 -15 4.99 4.40 13 13 6.21 0.00 69 60 0.00 114
Other Financing Activities, net		 0.69 3.08 1.38 1.76 1.32 4.90 -1.13 -2.07 1.12 -1.77 -2.02
Effect of Exchange Rate Changes		 -0.59 0.11 0.38 -0.81 0.42 -0.02 0.25 -1.46 0.42 -1.88 1.19
Cash Interest Paid		 0.16 0.15 0.33 1.02 1.19 1.36 0.02 3.35 12 13 13

Quarterly Cash Flow Statements for Trupanion

This table details how cash moves in and out of Trupanion's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 1.88 -0.90 -22 13 39 6.48 -43 26 -17 11 -4.57
Net Cash From Operating Activities		 18 2.43 6.86 15 24 16 15 29 29 15 21
Net Cash From Continuing Operating Activities		 18 2.43 6.86 15 24 16 15 29 29 15 21
Net Income / (Loss) Continuing Operations		 -2.16 -6.85 -5.86 1.43 1.66 -1.48 9.41 5.87 5.63 4.88 6.83
Consolidated Net Income / (Loss)		 -2.16 -6.85 -5.86 1.43 1.66 -1.48 9.41 5.87 5.63 4.88 6.83
Depreciation Expense		 3.03 3.79 4.38 4.38 3.92 3.79 3.96 4.05 4.03 3.71 3.67
Non-Cash Adjustments To Reconcile Net Income		 9.78 7.95 8.53 8.21 12 10 22 -9.80 12 8.79 9.80
Changes in Operating Assets and Liabilities, net		 6.86 -2.45 -0.19 1.28 5.82 3.48 -20 29 8.01 -2.78 0.68
Net Cash From Investing Activities		 -17 -2.74 -28 -1.46 18 -8.97 -42 -2.32 -42 0.11 -23
Net Cash From Continuing Investing Activities		 -17 -2.74 -28 -1.46 18 -8.97 -42 -2.32 -42 0.11 -23
Purchase of Property, Plant & Equipment		 -3.97 -3.07 -2.88 -1.91 -1.86 -1.93 -2.98 -5.30 -3.92 -0.85 -1.83
Purchase of Investments		 -57 -19 -62 -26 -26 -41 -101 -41 -73 -48 -72
Sale and/or Maturity of Investments		 43 19 37 26 46 33 61 44 35 49 51
Other Investing Activities, net		 0.17 0.52 0.55 0.49 0.55 0.59 0.61 0.44 0.03 -0.04 0.02
Net Cash From Financing Activities		 0.57 -0.29 -0.96 -1.04 -1.67 -0.46 -16 -1.44 -5.08 -2.74 -2.57
Net Cash From Continuing Financing Activities		 0.27 -0.29 -0.96 -1.04 -1.67 -0.46 -16 -1.44 -5.08 -2.74 -2.57
Repayment of Debt		 -0.87 -0.41 -0.71 -0.50 -0.57 -0.57 -15 -0.34 -119 -2.50 -2.50
Other Financing Activities, net		 1.13 0.13 -0.24 -0.54 -1.11 0.11 -0.47 -1.10 -0.56 -0.24 -0.07
Effect of Exchange Rate Changes		 1.25 -0.31 -0.15 0.48 -1.90 -0.05 - - 0.49 -0.56 -0.44

Annual Balance Sheets for Trupanion

This table presents Trupanion's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 71 82 106 208 257 498 563 672 783 807 915
Total Current Assets		 54 65 87 118 159 337 391 469 562 597 691
Cash & Equivalents		 18 24 26 27 29 140 87 66 148 160 138
Short-Term Investments		 25 30 38 55 70 90 126 157 130 147 233
Accounts Receivable		 8.20 10 20 32 54 99 165 232 268 274 302
Prepaid Expenses		 2.19 2.06 2.90 5.30 5.51 8.22 12 14 17 16 18
Plant, Property, & Equipment, net		 9.72 8.46 7.87 70 70 73 78 91 104 102 105
Total Noncurrent Assets		 7.57 8.49 11 20 28 89 94 112 117 107 119
Long-Term Investments		 2.69 2.85 3.24 3.55 4.32 5.57 7.06 7.84 13 0.37 0.98
Goodwill		 - - - - 0.00 33 33 42 44 37 39
Intangible Assets		 4.85 4.91 4.97 8.07 7.73 27 23 24 19 13 24
Other Noncurrent Operating Assets		 0.02 0.73 3.22 8.11 16 23 31 38 42 57 55
Total Liabilities & Shareholders' Equity		 71 82 106 208 257 498 563 672 783 807 915
Total Liabilities		 26 38 57 78 120 158 230 366 479 484 531
Total Current Liabilities		 24 30 46 63 92 150 224 290 344 350 410
Short-Term Debt		 - - - - - - - 1.10 1.35 1.35 10
Accounts Payable		 1.29 2.01 2.72 2.77 4.09 6.06 8.95 9.47 11 12 16
Accrued Expenses		 4.19 5.42 7.66 11 14 23 28 33 34 33 57
Current Deferred Revenue		 11 13 23 33 53 93 147 203 235 252 271
Other Current Liabilities		 6.93 9.52 13 16 21 29 40 44 63 52 56
Total Noncurrent Liabilities		 1.94 7.22 12 15 29 7.91 6.69 77 135 134 121
Long-Term Debt		 0.00 4.77 9.32 13 26 - - 68 128 128 102
Noncurrent Deferred & Payable Income Tax Liabilities		 1.43 1.62 1.00 1.00 1.12 4.71 2.83 3.39 2.69 1.95 1.51
Other Noncurrent Operating Liabilities		 0.51 0.83 1.23 1.27 1.61 3.21 3.86 4.97 4.49 4.48 18
Total Equity & Noncontrolling Interests		 45 45 48 129 137 340 332 305 304 323 384
Total Preferred & Common Equity		 45 45 48 129 137 340 332 305 304 323 384
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 45 45 48 129 137 340 332 305 304 323 384
Common Stock		 123 130 135 220 233 439 467 500 536 568 605
Retained Earnings		 -74 -81 -83 -84 -86 -91 -127 -172 -216 -226 -206
Treasury Stock		 -2.60 -3.20 -3.20 -6.20 -11 -11 -11 -17 -17 -17 -17
Accumulated Other Comprehensive Income / (Loss)		 -0.50 -0.38 -0.09 -0.75 0.25 3.07 3.08 -6.30 0.40 -2.61 2.10

Quarterly Balance Sheets for Trupanion

This table presents Trupanion's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 718 730 772 789 796 816 837 848 880 922 931
Total Current Assets		 510 521 561 571 579 600 628 629 668 705 719
Cash & Equivalents		 127 118 150 146 124 137 166 123 155 153 149
Short-Term Investments		 118 118 116 129 153 156 156 197 194 230 249
Accounts Receivable		 248 266 278 278 286 290 290 293 303 305 302
Prepaid Expenses		 17 19 17 17 16 17 16 17 17 17 19
Plant, Property, & Equipment, net		 94 98 101 104 104 103 102 102 105 103 101
Total Noncurrent Assets		 113 112 110 114 113 114 107 117 107 114 110
Long-Term Investments		 8.44 9.82 11 13 14 14 0.38 0.17 0.98 0.99 0.99
Goodwill		 43 44 42 43 43 45 38 41 40 39 39
Intangible Assets		 23 22 20 17 16 15 12 26 25 24 23
Other Noncurrent Operating Assets		 39 36 37 41 40 39 56 50 41 51 47
Total Liabilities & Shareholders' Equity		 718 730 772 789 796 816 837 848 880 922 931
Total Liabilities		 423 441 483 486 490 496 503 492 512 527 521
Total Current Liabilities		 312 331 348 352 356 362 369 372 391 408 405
Short-Term Debt		 1.26 1.10 1.35 1.35 1.35 1.35 1.35 1.35 0.75 10 10
Accounts Payable		 7.38 6.92 8.97 8.35 6.63 10 9.68 8.67 13 13 12
Accrued Expenses		 30 30 29 30 35 33 37 38 44 42 45
Current Deferred Revenue		 226 237 247 249 253 260 267 272 280 287 287
Other Current Liabilities		 48 56 61 62 61 57 54 53 54 57 52
Total Noncurrent Liabilities		 111 111 135 135 134 134 134 120 121 118 116
Long-Term Debt		 103 103 128 127 128 128 128 113 114 99 97
Noncurrent Deferred & Payable Income Tax Liabilities		 3.13 2.94 2.58 2.40 2.24 2.17 1.88 2.01 2.25 0.96 0.64
Other Noncurrent Operating Liabilities		 5.02 4.90 4.82 4.63 4.50 4.38 4.74 4.92 4.80 18 18
Total Equity & Noncontrolling Interests		 295 289 289 303 306 320 334 355 369 395 410
Total Preferred & Common Equity		 295 289 289 303 306 320 334 355 369 395 410
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 295 289 289 303 306 320 334 355 369 395 410
Common Stock		 512 519 527 545 553 561 578 587 596 614 624
Retained Earnings		 -196 -210 -214 -223 -229 -228 -227 -218 -212 -202 -195
Treasury Stock		 -17 -17 -17 -17 -17 -17 -17 -17 -17 -17 -17
Accumulated Other Comprehensive Income / (Loss)		 -4.26 -4.10 -7.11 -1.58 -1.77 3.24 -0.72 2.66 1.38 -0.69 -2.62

Annual Metrics And Ratios for Trupanion

This table displays calculated financial ratios and metrics derived from Trupanion's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 26.79% 28.08% 28.92% 25.26% 26.31% 30.76% 39.23% 29.50% 22.47% 15.97% 11.95%
EBITDA Growth		 -83.51% 80.36% 201.43% 68.53% 11.83% -46.62% -914.84% -24.87% 29.39% 204.11% 141.91%
EBIT Growth		 -15.96% 60.40% 78.95% 118.88% -210.23% -1,350.17% -734.03% -13.45% 17.46% 114.75% 635.66%
NOPAT Growth		 -5.21% 60.07% 60.56% 60.45% -83.73% -150.05% -633.10% -22.18% 5.45% 76.60% 283.58%
Net Income Growth		 18.76% 59.92% 78.20% 38.32% -95.15% -222.83% -508.39% -25.73% -0.05% 78.45% 301.73%
EPS Growth		 62.20% 100.00% 0.00% 0.00% 0.00% -220.00% -456.25% -23.60% 1.82% 78.70% 295.65%
Operating Cash Flow Growth		 3.48% 148.02% 93.09% -231.18% 227.42% 33.34% -65.38% -207.27% 332.98% 159.08% 85.33%
Free Cash Flow Firm Growth		 16.03% 109.78% -73.24% -19,174.87% 94.62% -1,244.75% 34.40% -98.16% 57.73% 68.24% 486.46%
Invested Capital Growth		 74.24% -1,041.49% -33.46% 753.79% 3.93% 75.49% 6.78% 29.34% -1.31% 1.25% -14.12%
Revenue Q/Q Growth		 6.01% 6.29% 6.68% 5.59% 6.33% 8.00% 7.99% 6.05% 4.71% 3.33% 2.83%
EBITDA Q/Q Growth		 9.82% 39.38% 10.66% 53.18% 20.73% -52.38% -12.17% -5.84% 31.70% 25.64% 11.58%
EBIT Q/Q Growth		 6.92% 16.67% 25.48% 128.30% 79.49% -7,303.51% -9.28% -4.52% 22.15% 246.40% 17.20%
NOPAT Q/Q Growth		 6.56% 16.53% 15.70% 47.98% 30.21% -326.76% -8.38% -8.73% 19.14% -0.63% 95.19%
Net Income Q/Q Growth		 6.90% 15.63% 37.06% 37.79% 33.49% -243.13% -11.07% -5.29% 13.75% 28.39% 25.71%
EPS Q/Q Growth		 -116.67% 100.00% -100.00% 0.00% 0.00% -433.33% -9.88% -4.76% 14.29% 28.13% 25.00%
Operating Cash Flow Q/Q Growth		 -220.28% 123.00% 8,505.22% -272.78% 102.95% -2.57% 19.02% -107.09% 766.88% 14.72% 6.62%
Free Cash Flow Firm Q/Q Growth		 0.00% 153.67% -83.63% -0.50% -242.04% -1,840.27% 58.89% -37.66% 51.17% -14.61% 125.29%
Invested Capital Q/Q Growth		 -185.15% -94.70% -13.77% -0.09% 12.57% 111.82% 7.59% 18.61% 1.11% 1.83% -7.17%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 17.17% 17.68% 17.74% 16.90% 16.91% 16.31% 14.93% 13.50% 11.82% 13.91% 16.05%
EBITDA Margin		 -9.68% -1.48% 1.17% 1.57% 1.39% 0.57% -3.32% -3.20% -1.85% 1.66% 3.58%
Operating Margin		 -11.41% -3.56% -1.09% -0.34% -0.50% -0.96% -5.04% -4.75% -3.67% -0.74% 0.96%
EBIT Margin		 -11.41% -3.53% -0.58% 0.09% -0.08% -0.84% -5.04% -4.41% -2.97% 0.38% 2.48%
Profit (Net Income) Margin		 -11.71% -3.66% -0.62% -0.31% -0.47% -1.16% -5.08% -4.94% -4.03% -0.75% 1.35%
Tax Burden Percent		 100.67% 100.55% 77.84% 99.25% 110.30% 101.97% 100.88% 101.08% 99.24% 99.95% 88.36%
Interest Burden Percent		 101.94% 103.28% 138.13% -353.79% 563.57% 135.71% 100.07% 110.69% 136.64% -198.31% 61.52%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11.64%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% -3.01% -2.30% -4.09% -22.77% -23.50% -19.83% -4.64% 9.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -2.71% -1.67% -2.51% -17.99% -15.85% -9.74% -2.89% 5.83%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 1.97% 0.94% 1.64% 12.20% 9.48% 5.15% 1.57% -3.61%
Return on Equity (ROE)		 -32.89% -15.31% -3.23% -1.04% -1.36% -2.45% -10.57% -14.01% -14.68% -3.07% 5.50%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -116.57% -6.15% -58.90% -29.33% -49.08% -18.51% -5.88% 24.30%
Operating Return on Assets (OROA)		 -19.82% -8.66% -1.49% 0.17% -0.13% -1.12% -6.64% -6.47% -4.53% 0.61% 4.15%
Return on Assets (ROA)		 -20.33% -9.00% -1.60% -0.59% -0.78% -1.55% -6.70% -7.24% -6.15% -1.21% 2.26%
Return on Common Equity (ROCE)		 -32.89% -15.31% -3.23% -1.04% -1.36% -2.45% -10.57% -14.01% -14.68% -3.07% 5.50%
Return on Equity Simple (ROE_SIMPLE)		 -37.93% -15.42% -3.10% -0.72% -1.32% -1.72% -10.70% -14.63% -14.72% -2.98% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -4.69 -1.85 -0.73 -1.34 -3.36 -25 -30 -28 -6.66 12
NOPAT Margin		 -7.99% -2.49% -0.76% -0.24% -0.35% -0.67% -3.52% -3.33% -2.57% -0.52% 0.85%
Net Nonoperating Expense Percent (NNEP)		 -10.17% -4.54% 0.64% -0.30% -0.62% -1.59% -4.78% -7.64% -10.09% -1.75% 3.29%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -8.03% -6.58% -1.47% 2.47%
Cost of Revenue to Revenue		 82.83% 82.32% 82.26% 83.10% 83.09% 83.69% 85.07% 86.50% 88.18% 86.09% 83.95%
SG&A Expenses to Revenue		 10.59% 8.08% 6.93% 5.63% 4.79% 4.35% 4.56% 4.35% 5.43% 4.96% 5.33%
R&D to Revenue		 7.63% 5.07% 4.03% 1.91% 1.83% 1.98% 2.41% 2.78% 1.93% 2.43% 2.63%
Operating Expenses to Revenue		 28.58% 21.24% 18.83% 17.24% 17.41% 17.27% 19.96% 18.22% 15.47% 14.65% 15.09%
Earnings before Interest and Taxes (EBIT)		 -17 -6.64 -1.40 0.26 -0.29 -4.22 -35 -40 -33 4.86 36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -2.79 2.83 4.78 5.34 2.85 -23 -29 -20 21 52
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.08 10.15 18.15 6.59 9.57 12.53 16.04 6.36 4.17 6.31 4.20
Price to Tangible Book Value (P/TBV)		 6.81 11.41 20.23 7.03 10.15 15.22 19.25 8.12 5.25 7.47 5.04
Price to Revenue (P/Rev)		 1.88 2.41 3.62 2.80 3.41 8.48 7.63 2.15 1.14 1.59 1.12
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 83.07
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.20%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 13.58 20.66 38.46 45.73 12.33 7.76 12.90 10.92
Enterprise Value to Revenue (EV/Rev)		 1.56 2.14 3.39 2.56 3.21 8.02 7.31 1.97 1.00 1.45 0.94
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 290.07 163.12 230.67 1,411.37 0.00 0.00 0.00 87.32 26.25
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 2,951.02 0.00 0.00 0.00 0.00 0.00 383.15 37.88
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 110.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 80.45 85.05 0.00 76.25 186.77 685.08 0.00 59.36 38.56 15.13
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 307.33 2,344.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 41.52
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.11 0.19 0.10 0.19 0.00 0.00 0.23 0.42 0.40 0.29
Long-Term Debt to Equity		 0.00 0.11 0.19 0.10 0.19 0.00 0.00 0.22 0.42 0.39 0.27
Financial Leverage		 -1.03 -1.08 -1.16 -0.73 -0.56 -0.66 -0.68 -0.60 -0.53 -0.54 -0.62
Leverage Ratio		 1.62 1.70 2.02 1.76 1.75 1.58 1.58 1.94 2.39 2.54 2.43
Compound Leverage Factor		 1.65 1.76 2.79 -6.24 9.85 2.15 1.58 2.14 3.26 -5.03 1.50
Debt to Total Capital		 0.00% 9.63% 16.14% 9.06% 16.02% 0.00% 0.00% 18.53% 29.80% 28.51% 22.55%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.29% 0.31% 0.30% 2.02%
Long-Term Debt to Total Capital		 0.00% 9.63% 16.14% 9.06% 16.02% 0.00% 0.00% 18.24% 29.49% 28.21% 20.53%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 90.37% 83.86% 90.94% 83.98% 100.00% 100.00% 81.47% 70.20% 71.50% 77.45%
Debt to EBITDA		 0.00 -1.71 3.29 2.69 4.88 0.00 0.00 -2.39 -6.29 6.04 2.17
Net Debt to EBITDA		 0.00 18.36 -20.19 -15.03 -14.44 0.00 0.00 5.54 7.86 -8.39 -5.04
Long-Term Debt to EBITDA		 0.00 -1.71 3.29 2.69 4.88 0.00 0.00 -2.36 -6.23 5.98 1.97
Debt to NOPAT		 0.00 -1.02 -5.04 -17.58 -19.41 0.00 0.00 -2.31 -4.53 -19.35 9.14
Net Debt to NOPAT		 0.00 10.94 30.93 98.16 57.39 0.00 0.00 5.34 5.66 26.86 -21.26
Long-Term Debt to NOPAT		 0.00 -1.02 -5.04 -17.58 -19.41 0.00 0.00 -2.27 -4.48 -19.15 8.33
Altman Z-Score		 6.80 8.39 10.80 7.74 7.86 17.31 14.96 4.30 2.81 4.12 3.58
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.27 2.15 1.89 1.87 1.73 2.24 1.75 1.62 1.63 1.71 1.69
Quick Ratio		 2.18 2.08 1.82 1.78 1.67 2.19 1.69 1.57 1.58 1.66 1.64
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -13 1.31 0.35 -67 -3.60 -48 -32 -63 -27 -8.44 33
Operating Cash Flow to CapEx		 -213.02% 257.91% 308.72% -22.27% 300.71% 289.14% 60.36% -46.82% 101.96% 496.98% 633.36%
Free Cash Flow to Firm to Interest Expense		 -41.24 6.01 0.66 -55.82 -2.67 -35.03 -3,173.12 -14.74 -2.20 -0.58 2.37
Operating Cash Flow to Interest Expense		 -32.08 22.96 18.14 -10.58 11.98 15.60 745.80 -1.87 1.54 3.33 6.50
Operating Cash Flow Less CapEx to Interest Expense		 -47.14 14.06 12.26 -58.11 7.99 10.20 -489.70 -5.88 0.03 2.66 5.48
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.74 2.46 2.58 1.94 1.65 1.33 1.32 1.47 1.52 1.62 1.67
Accounts Receivable Turnover		 18.28 20.56 15.92 11.71 8.93 6.54 5.29 4.55 4.43 4.74 5.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 16.72 20.70 29.72 7.83 5.48 7.02 9.29 10.73 11.41 12.49 13.90
Accounts Payable Turnover		 74.89 94.05 84.55 92.14 93.09 82.82 79.23 85.00 97.88 100.46 86.38
Days Sales Outstanding (DSO)		 19.97 17.76 22.93 31.18 40.87 55.79 69.00 80.17 82.37 76.93 73.03
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 4.87 3.88 4.32 3.96 3.92 4.41 4.61 4.29 3.73 3.63 4.23
Cash Conversion Cycle (CCC)		 15.10 13.88 18.61 27.22 36.95 51.38 64.39 75.88 78.64 73.29 68.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.58 -6.58 -8.78 57 60 105 112 145 143 144 124
Invested Capital Turnover		 -104.53 -52.64 -31.62 12.51 6.56 6.11 6.46 7.07 7.72 8.96 10.72
Increase / (Decrease) in Invested Capital		 1.66 -6.00 -2.20 66 2.25 45 7.09 33 -1.89 1.78 -20
Enterprise Value (EV)		 230 403 822 779 1,232 4,024 5,109 1,782 1,106 1,862 1,354
Market Capitalization		 276 454 879 851 1,309 4,259 5,330 1,943 1,268 2,041 1,614
Book Value per Share		 $1.61 $1.53 $1.61 $3.87 $3.91 $9.55 $8.23 $7.47 $7.31 $7.63 $8.89
Tangible Book Value per Share		 $1.43 $1.36 $1.45 $3.62 $3.69 $7.86 $6.86 $5.85 $5.81 $6.45 $7.42
Total Capital		 45 49 58 142 163 340 332 375 433 452 496
Total Debt		 0.00 4.77 9.32 13 26 0.00 0.00 69 129 129 112
Total Long-Term Debt		 0.00 4.77 9.32 13 26 0.00 0.00 68 128 128 102
Net Debt		 -46 -51 -57 -72 -77 -235 -220 -161 -161 -179 -260
Capital Expenditures (CapEx)		 4.89 1.94 3.13 57 5.37 7.45 12 17 18 9.72 14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -13 -18 -23 -26 -32 -43 -46 -42 -58 -58 -79
Debt-free Net Working Capital (DFNWC)		 30 35 41 55 67 187 167 181 219 249 291
Net Working Capital (NWC)		 30 35 41 55 67 187 167 179 218 248 281
Net Nonoperating Expense (NNE)		 5.46 2.21 -0.35 0.20 0.47 2.48 11 15 16 2.97 -7.21
Net Nonoperating Obligations (NNO)		 -46 -51 -57 -72 -77 -235 -220 -161 -161 -179 -260
Total Depreciation and Amortization (D&A)		 2.54 3.85 4.23 4.51 5.63 7.07 12 11 12 16 16
Debt-free, Cash-free Net Working Capital to Revenue		 -9.00% -9.68% -9.31% -8.67% -8.26% -8.59% -6.60% -4.62% -5.25% -4.54% -5.52%
Debt-free Net Working Capital to Revenue		 20.42% 18.58% 16.77% 18.02% 17.50% 37.17% 23.93% 19.95% 19.75% 19.37% 20.24%
Net Working Capital to Revenue		 20.42% 18.58% 16.77% 18.02% 17.50% 37.17% 23.93% 19.83% 19.63% 19.27% 19.54%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.05) ($0.16) ($0.89) ($1.10) ($1.08) ($0.23) $0.45
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 34.96M 78.95M 81.01M 40.77M 41.44M 42.16M 42.96M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.89) ($1.10) ($1.08) ($0.23) $0.45
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 0.00 81.01M 40.77M 41.44M 42.16M 43.56M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.05) ($0.16) ($0.89) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 34.65M 35.86M 40.14M 82.04M 83.63M 42.49M 43.43M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -4.69 -1.85 -0.73 -1.34 -3.36 -25 -30 -28 -2.95 13
Normalized NOPAT Margin		 -7.99% -2.49% -0.76% -0.24% -0.35% -0.67% -3.52% -3.33% -2.57% -0.23% 0.92%
Pre Tax Income Margin		 -11.63% -3.64% -0.80% -0.31% -0.43% -1.14% -5.04% -4.88% -4.06% -0.75% 1.53%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -51.59 -30.46 -2.62 0.22 -0.22 -3.06 -3,519.60 -9.36 -2.73 0.34 2.60
NOPAT to Interest Expense		 -36.13 -21.51 -3.47 -0.61 -1.00 -2.43 -2,463.72 -7.05 -2.36 -0.46 0.89
EBIT Less CapEx to Interest Expense		 -66.65 -39.36 -8.50 -47.31 -4.20 -8.45 -4,755.10 -13.36 -4.24 -0.33 1.57
NOPAT Less CapEx to Interest Expense		 -51.19 -30.41 -9.34 -48.14 -4.98 -7.83 -3,699.22 -11.06 -3.87 -1.13 -0.14
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -12.88% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Trupanion

This table displays calculated financial ratios and metrics derived from Trupanion's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 43,430,169.00 43,620,472.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 43,430,169.00 43,620,472.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.11 0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 20.26% 19.43% 16.35% 14.55% 14.01% 11.71% 12.31% 12.05% 11.72% 12.30% 11.14%
EBITDA Growth		 197.45% 102.53% 127.39% 392.11% 92.73% 1,031.98% 756.00% 39.06% 59.22% 107.57% -29.20%
EBIT Growth		 121.57% 85.41% 79.56% 615.01% 207.75% 153.64% 732.07% 77.69% 102.48% 343.18% -35.30%
NOPAT Growth		 104.43% 74.94% 58.20% 169.55% 19.12% 76.00% 153.93% 206.82% 1,776.90% 479.51% 186.01%
Net Income Growth		 76.70% 72.35% 57.26% 135.31% 176.56% 78.36% 260.58% 312.14% 239.98% 429.06% -27.43%
EPS Growth		 78.26% 73.33% 57.58% 130.00% 180.00% 81.25% 257.14% 333.33% 225.00% 466.67% -27.27%
Operating Cash Flow Growth		 1,618.06% 135.47% 301.35% 34.19% 35.39% 555.88% 119.15% 91.15% 23.46% -8.58% 39.66%
Free Cash Flow Firm Growth		 105.54% 94.95% 99.09% 104.40% -166.30% 211.02% -1,249.90% 1,308.35% 1,959.70% 845.02% 934.98%
Invested Capital Growth		 -1.31% -1.33% -2.37% 0.53% 1.25% -2.53% 4.69% -5.79% -14.12% -14.85% -22.02%
Revenue Q/Q Growth		 3.50% 3.47% 2.84% 4.02% 3.01% 1.38% 3.39% 3.78% 2.71% 1.91% 2.31%
EBITDA Q/Q Growth		 138.95% -89.54% 332.79% 354.82% -6.41% -38.55% 227.28% -26.11% 7.15% -19.89% 11.62%
EBIT Q/Q Growth		 262.18% -297.96% 31.66% 334.74% -3.08% -65.50% 705.21% -34.01% 10.44% -24.48% 17.55%
NOPAT Q/Q Growth		 111.69% -1,604.17% 10.85% 144.38% -79.98% -403.09% 300.31% 152.47% 22.45% -38.71% 50.96%
Net Income Q/Q Growth		 46.41% -216.78% 14.45% 124.31% 16.21% -189.55% 734.73% -37.61% -4.14% -13.32% 39.98%
EPS Q/Q Growth		 50.00% -220.00% 12.50% 121.43% 33.33% -175.00% 833.33% -40.91% 0.00% -15.38% 45.45%
Operating Cash Flow Q/Q Growth		 53.60% -86.10% 181.68% 123.09% 54.97% -32.65% -5.88% 94.59% 0.09% -50.13% 43.79%
Free Cash Flow Firm Q/Q Growth		 110.02% -208.63% 85.34% 375.81% -251.00% 281.89% -278.19% 387.76% 99.40% -7.57% 57.44%
Invested Capital Q/Q Growth		 1.11% 0.97% -0.40% -1.13% 1.83% -2.80% 6.98% -11.04% -7.17% -3.62% -2.03%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 13.54% 11.83% 12.79% 15.08% 15.69% 14.94% 15.51% 16.37% 17.26% 16.01% 16.58%
EBITDA Margin		 1.59% 0.16% 0.68% 2.95% 2.68% 1.63% 5.14% 3.66% 3.82% 3.00% 3.28%
Operating Margin		 0.14% -2.00% -1.74% 0.53% 0.10% -0.43% 0.65% 1.60% 1.89% 1.24% 1.62%
EBIT Margin		 0.56% -1.08% -0.72% 1.61% 1.52% 0.52% 4.02% 2.56% 2.75% 2.04% 2.34%
Profit (Net Income) Margin		 -0.73% -2.24% -1.86% 0.44% 0.49% -0.43% 2.66% 1.60% 1.49% 1.27% 1.74%
Tax Burden Percent		 106.39% 99.45% 99.26% 97.34% 97.76% 102.70% 89.26% 89.00% 89.46% 81.93% 92.65%
Interest Burden Percent		 -122.18% 209.17% 262.37% 27.71% 33.08% -81.72% 74.12% 70.28% 60.69% 76.06% 80.10%
Effective Tax Rate		 0.00% 0.00% 0.00% 2.66% 2.24% 0.00% 10.74% 11.00% 10.54% 18.07% 7.35%
Return on Invested Capital (ROIC)		 0.75% -11.21% -10.08% 4.57% 0.90% -2.80% 5.41% 14.45% 18.17% 11.62% 17.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.27% -9.55% -8.74% 4.73% 0.13% -2.55% 1.42% 14.13% 18.52% 11.20% 16.74%
Return on Net Nonoperating Assets (RNNOA)		 -1.20% 4.92% 4.47% -2.54% -0.07% 1.41% -0.79% -8.48% -11.49% -7.21% -10.89%
Return on Equity (ROE)		 -0.45% -6.29% -5.60% 2.03% 0.83% -1.39% 4.63% 5.97% 6.68% 4.41% 6.22%
Cash Return on Invested Capital (CROIC)		 -18.51% -9.44% -4.68% -5.21% -5.88% 0.18% -2.79% 10.51% 24.30% 29.60% 40.74%
Operating Return on Assets (OROA)		 0.86% -1.65% -1.13% 2.53% 2.46% 0.84% 6.66% 4.22% 4.60% 3.44% 4.01%
Return on Assets (ROA)		 -1.11% -3.44% -2.93% 0.68% 0.79% -0.70% 4.41% 2.64% 2.50% 2.14% 2.97%
Return on Common Equity (ROCE)		 -0.45% -6.29% -5.60% 2.03% 0.83% -1.39% 4.63% 5.97% 6.68% 4.41% 6.22%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -8.82% -6.18% -4.20% 0.00% -1.28% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.29 -4.30 -3.83 1.70 0.34 -1.03 2.07 5.21 6.39 3.91 5.91
NOPAT Margin		 0.10% -1.40% -1.22% 0.52% 0.10% -0.30% 0.58% 1.42% 1.69% 1.02% 1.50%
Net Nonoperating Expense Percent (NNEP)		 -1.52% -1.66% -1.34% -0.17% 0.77% -0.26% 4.00% 0.32% -0.34% 0.41% 0.37%
Return On Investment Capital (ROIC_SIMPLE)		 0.07% - - - 0.08% -0.22% 0.44% 1.08% 1.29% 0.78% 1.14%
Cost of Revenue to Revenue		 86.46% 88.17% 87.21% 84.92% 84.31% 85.06% 84.49% 83.63% 82.74% 83.99% 83.42%
SG&A Expenses to Revenue		 4.53% 4.79% 4.85% 5.18% 4.99% 5.82% 5.69% 4.99% 4.86% 4.97% 4.97%
R&D to Revenue		 2.02% 2.27% 2.60% 2.42% 2.42% 2.36% 2.43% 2.69% 3.00% 2.94% 3.25%
Operating Expenses to Revenue		 13.33% 13.84% 14.53% 14.55% 15.59% 15.37% 14.85% 14.77% 15.36% 14.77% 14.95%
Earnings before Interest and Taxes (EBIT)		 1.66 -3.29 -2.25 5.28 5.12 1.77 14 9.39 10 7.83 9.21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4.69 0.49 2.13 9.67 9.05 5.56 18 13 14 12 13
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.17 3.78 4.04 5.53 6.31 4.75 6.66 5.05 4.20 2.82 2.64
Price to Tangible Book Value (P/TBV)		 5.25 4.72 5.00 6.81 7.47 5.59 8.21 6.13 5.04 3.34 3.11
Price to Revenue (P/Rev)		 1.14 0.99 1.03 1.42 1.59 1.20 1.74 1.33 1.12 0.75 0.71
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 215.06 120.37 83.07 43.12 46.54
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.47% 0.83% 1.20% 2.32% 2.15%
Enterprise Value to Invested Capital (EV/IC)		 7.76 6.86 7.48 11.22 12.90 9.91 14.40 12.17 10.92 7.00 6.73
Enterprise Value to Revenue (EV/Rev)		 1.00 0.85 0.89 1.28 1.45 1.05 1.59 1.16 0.94 0.57 0.52
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 115.71 93.77 87.32 52.68 50.94 35.17 26.25 14.54 15.08
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 1,134.47 383.15 140.14 81.92 53.30 37.88 20.01 21.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 820.48 259.57 110.78 47.48 36.85
Enterprise Value to Operating Cash Flow (EV/OCF)		 59.36 35.36 28.09 37.81 38.56 22.49 30.90 19.37 15.13 9.50 8.38
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 5,452.20 0.00 112.30 41.52 21.76 14.47
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.42 0.42 0.42 0.40 0.40 0.39 0.32 0.31 0.29 0.28 0.26
Long-Term Debt to Equity		 0.42 0.42 0.42 0.40 0.39 0.38 0.32 0.31 0.27 0.25 0.24
Financial Leverage		 -0.53 -0.52 -0.51 -0.54 -0.54 -0.55 -0.56 -0.60 -0.62 -0.64 -0.65
Leverage Ratio		 2.39 2.52 2.57 2.61 2.54 2.55 2.49 2.46 2.43 2.41 2.32
Compound Leverage Factor		 -2.92 5.27 6.73 0.72 0.84 -2.09 1.84 1.73 1.48 1.84 1.86
Debt to Total Capital		 29.80% 29.81% 29.65% 28.70% 28.51% 27.86% 24.36% 23.71% 22.55% 21.69% 20.70%
Short-Term Debt to Total Capital		 0.31% 0.31% 0.31% 0.30% 0.30% 0.29% 0.29% 0.16% 2.02% 1.98% 1.94%
Long-Term Debt to Total Capital		 29.49% 29.50% 29.34% 28.40% 28.21% 27.57% 24.07% 23.55% 20.53% 19.70% 18.76%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 70.20% 70.19% 70.35% 71.30% 71.50% 72.14% 75.64% 76.29% 77.45% 78.31% 79.30%
Debt to EBITDA		 -6.29 -210.85 13.90 7.59 6.04 4.88 2.70 2.48 2.17 1.90 2.05
Net Debt to EBITDA		 7.86 260.82 -17.52 -10.51 -8.39 -7.32 -4.84 -5.08 -5.04 -4.78 -5.60
Long-Term Debt to EBITDA		 -6.23 -208.64 13.76 7.51 5.98 4.83 2.66 2.46 1.97 1.73 1.85
Debt to NOPAT		 -4.53 -8.25 -12.54 -19.48 -19.35 -37.96 43.42 18.29 9.14 6.20 5.00
Net Debt to NOPAT		 5.66 10.20 15.79 26.95 26.86 56.94 -77.88 -37.51 -21.26 -15.62 -13.69
Long-Term Debt to NOPAT		 -4.48 -8.16 -12.40 -19.27 -19.15 -37.56 42.91 18.17 8.33 5.64 4.53
Altman Z-Score		 2.96 2.81 2.95 3.65 4.12 3.46 4.55 3.85 3.49 2.98 3.02
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.63 1.62 1.63 1.66 1.71 1.70 1.69 1.71 1.69 1.73 1.77
Quick Ratio		 1.58 1.57 1.58 1.61 1.66 1.66 1.65 1.67 1.64 1.69 1.73
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.17 -2.36 -0.35 0.95 -1.44 2.62 -4.67 13 27 25 39
Operating Cash Flow to CapEx		 440.98% 79.41% 238.06% 799.53% 1,275.67% 828.01% 504.87% 551.43% 745.91% 1,723.02% 1,149.81%
Free Cash Flow to Firm to Interest Expense		 0.59 -0.66 -0.09 0.25 -0.42 0.82 -1.27 4.81 6.57 13.20 21.27
Operating Cash Flow to Interest Expense		 4.74 0.68 1.88 4.00 6.92 4.97 4.08 10.48 7.18 7.78 11.45
Operating Cash Flow Less CapEx to Interest Expense		 3.66 -0.18 1.09 3.50 6.37 4.37 3.27 8.58 6.22 7.33 10.46
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.52 1.54 1.58 1.57 1.62 1.62 1.66 1.65 1.67 1.68 1.71
Accounts Receivable Turnover		 4.43 4.40 4.36 4.38 4.74 4.65 4.70 4.73 5.00 4.98 5.11
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.41 11.65 11.91 12.22 12.49 12.81 13.22 13.49 13.90 14.48 14.97
Accounts Payable Turnover		 97.88 129.35 155.13 112.89 100.46 125.12 150.60 103.15 86.38 110.18 123.00
Days Sales Outstanding (DSO)		 82.37 82.98 83.70 83.27 76.93 78.52 77.65 77.23 73.03 73.29 71.41
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 3.73 2.82 2.35 3.23 3.63 2.92 2.42 3.54 4.23 3.31 2.97
Cash Conversion Cycle (CCC)		 78.64 80.16 81.35 80.04 73.29 75.60 75.22 73.69 68.81 69.98 68.44
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 143 144 143 142 144 140 150 134 124 120 117
Invested Capital Turnover		 7.72 7.99 8.28 8.80 8.96 9.29 9.27 10.17 10.72 11.40 11.38
Increase / (Decrease) in Invested Capital		 -1.89 -1.94 -3.48 0.75 1.78 -3.65 6.73 -8.21 -20 -21 -33
Enterprise Value (EV)		 1,106 988 1,073 1,592 1,862 1,390 2,163 1,626 1,354 837 788
Market Capitalization		 1,268 1,147 1,235 1,770 2,041 1,584 2,368 1,861 1,614 1,112 1,080
Book Value per Share		 $7.31 $7.24 $7.28 $7.59 $7.63 $7.85 $8.31 $8.57 $8.89 $9.09 $9.39
Tangible Book Value per Share		 $5.81 $5.80 $5.88 $6.17 $6.45 $6.67 $6.74 $7.06 $7.42 $7.66 $7.97
Total Capital		 433 432 435 449 452 463 470 483 496 504 517
Total Debt		 129 129 129 129 129 129 114 115 112 109 107
Total Long-Term Debt		 128 127 128 128 128 128 113 114 102 99 97
Net Debt		 -161 -159 -162 -178 -179 -193 -205 -235 -260 -275 -293
Capital Expenditures (CapEx)		 3.97 3.07 2.88 1.91 1.86 1.93 2.98 5.30 3.92 0.85 1.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -58 -55 -53 -54 -58 -61 -61 -71 -79 -77 -75
Debt-free Net Working Capital (DFNWC)		 219 221 224 239 249 260 258 278 291 307 324
Net Working Capital (NWC)		 218 219 223 238 248 259 257 277 281 297 314
Net Nonoperating Expense (NNE)		 2.45 2.56 2.03 0.27 -1.32 0.45 -7.35 -0.66 0.76 -0.97 -0.92
Net Nonoperating Obligations (NNO)		 -161 -159 -162 -178 -179 -193 -205 -235 -260 -275 -293
Total Depreciation and Amortization (D&A)		 3.03 3.79 4.38 4.38 3.92 3.79 3.96 4.05 4.03 3.71 3.67
Debt-free, Cash-free Net Working Capital to Revenue		 -5.25% -4.72% -4.39% -4.34% -4.54% -4.65% -4.52% -5.04% -5.52% -5.19% -4.90%
Debt-free Net Working Capital to Revenue		 19.75% 19.04% 18.66% 19.21% 19.37% 19.70% 18.98% 19.86% 20.24% 20.71% 21.30%
Net Working Capital to Revenue		 19.63% 18.92% 18.55% 19.11% 19.27% 19.60% 18.88% 19.81% 19.54% 20.04% 20.65%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.05) ($0.16) ($0.14) $0.03 $0.04 ($0.03) $0.22 $0.14 $0.12 $0.11 $0.16
Adjusted Weighted Average Basic Shares Outstanding		 41.44M 41.92M 42.08M 42.23M 42.16M 42.78M 42.87M 43.08M 42.96M 43.51M 43.73M
Adjusted Diluted Earnings per Share		 ($0.05) ($0.16) ($0.14) $0.03 $0.04 ($0.03) $0.22 $0.13 $0.13 $0.11 $0.16
Adjusted Weighted Average Diluted Shares Outstanding		 41.44M 41.92M 42.08M 42.82M 42.16M 42.78M 43.33M 43.56M 43.56M 43.68M 43.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 83.63M 42.02M 42.16M 42.34M 42.49M 42.78M 42.99M 43.20M 43.43M 43.62M 43.87M
Normalized Net Operating Profit after Tax (NOPAT)		 0.29 -4.30 -3.83 1.70 0.34 -1.03 2.07 5.21 6.39 3.91 5.91
Normalized NOPAT Margin		 0.10% -1.40% -1.22% 0.52% 0.10% -0.30% 0.58% 1.42% 1.69% 1.02% 1.50%
Pre Tax Income Margin		 -0.69% -2.25% -1.88% 0.45% 0.50% -0.42% 2.98% 1.80% 1.67% 1.55% 1.88%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.45 -0.92 -0.62 1.38 1.49 0.55 3.86 3.37 2.54 4.18 5.02
NOPAT to Interest Expense		 0.08 -1.19 -1.05 0.44 0.10 -0.32 0.56 1.87 1.57 2.09 3.22
EBIT Less CapEx to Interest Expense		 -0.62 -1.77 -1.40 0.88 0.95 -0.05 3.06 1.46 1.58 3.72 4.03
NOPAT Less CapEx to Interest Expense		 -1.00 -2.05 -1.84 -0.06 -0.44 -0.92 -0.25 -0.03 0.60 1.64 2.23
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Trupanion’s financial profile has improved significantly since late 2022. Revenue increased in every reported quarter, rising from $233.8 million in Q3 2022 to $392.9 million in Q2 2026. That represents growth of approximately 68%. The company’s gross margin also expanded from 12.9% to 16.6% over the same period, indicating that gross profit is growing faster than revenue.

Profitability has followed the top-line improvement. Trupanion reported operating losses throughout 2023 and into Q1 2025, but returned to operating profitability in Q2 2025. Operating income reached $6.4 million in Q2 2026, while net income was $6.8 million, or $0.16 per diluted share. However, the company’s recent earnings remain modest relative to revenue, and investment income continues to influence bottom-line results.

Cash generation has also become more consistent. Operating cash flow was negative in Q2 and Q3 2023 but remained positive in every quarter from Q4 2023 through Q2 2026. Q2 2026 operating cash flow rose to $21.0 million from $15.0 million in the year-ago quarter. Trupanion ended Q2 2026 with $149.4 million of cash and $249.1 million of short-term investments, providing substantial liquidity.

  • Consistent revenue growth: Quarterly revenue climbed from $233.8 million in Q3 2022 to $392.9 million in Q2 2026, with year-over-year growth of approximately 10% in the latest quarter.
  • Improving gross margins: Gross margin expanded from roughly 12.9% in Q3 2022 to 16.6% in Q2 2026, supporting the company’s transition toward sustained profitability.
  • Return to operating profitability: Operating income improved from a $24.5 million loss in Q3 2022 and a $1.5 million loss in Q1 2025 to positive results in each of the subsequent reported quarters.
  • Positive operating cash flow: Operating cash flow reached $21.0 million in Q2 2026, up from $15.0 million in Q2 2025, suggesting that the improving earnings trend is increasingly supported by cash generation.
  • Strong liquidity position: Cash and short-term investments totaled approximately $398.5 million at the end of Q2 2026, compared with approximately $182.9 million in Q3 2022.
  • Manageable debt relative to liquidity: Total short- and long-term debt was approximately $106.9 million in Q2 2026, well below the company’s cash and short-term investment balance.
  • Deferred revenue continues to grow: Current deferred revenue increased from $202.5 million in Q3 2022 to $287.2 million in Q2 2026. This can provide visibility into future revenue, although it represents an obligation to deliver services rather than immediately recognized revenue.
  • Investment activity is significant: Trupanion routinely purchases and sells large amounts of investments. In Q2 2026, investment purchases of $72.1 million exceeded sales and maturities of $51.4 million, creating a $22.5 million investing cash outflow despite positive operating cash flow.
  • Cash declined in the latest quarter: Cash and equivalents fell from $153.5 million at the end of Q1 2026 to $149.4 million at the end of Q2, while total cash flow was negative $4.6 million. Continued investment outflows and debt repayments can temporarily reduce available cash.
  • Profitability remains relatively thin and partly supported by non-operating items: Q2 2026 operating income was $6.4 million, while net income benefited from $2.8 million of other income. Interest expense also remained meaningful at $1.8 million, leaving limited room for operating setbacks.

Overall, the statements show a company moving from substantial losses toward positive operating income and more reliable cash generation. The main issues for investors are whether margin expansion can continue, whether earnings can grow without relying heavily on investment income, and how much of the cash balance must remain invested to support the business. The supplied history also includes restated periods, particularly for portions of 2024 and 2025, so investors should review the latest filings when comparing historical results.

09/07/26 05:13 AM ETAI Generated. May Contain Errors.

Trupanion Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Trupanion's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Trupanion's net income appears to be on an upward trend, with a most recent value of $19.43 million in 2025, falling from -$17.21 million in 2015. The previous period was -$9.63 million in 2024. Check out Trupanion's forecast to explore projected trends and price targets.

Trupanion's total operating income in 2025 was $13.84 million, based on the following breakdown:
  • Total Gross Profit: $231.01 million
  • Total Operating Expenses: $217.17 million

Over the last 10 years, Trupanion's total revenue changed from $146.96 million in 2015 to $1.44 billion in 2025, a change of 879.4%.

Trupanion's total liabilities were at $531.11 million at the end of 2025, a 9.8% increase from 2024, and a 1,977.8% increase since 2015.

In the past 10 years, Trupanion's cash and equivalents has ranged from $17.96 million in 2015 to $160.30 million in 2024, and is currently $138.02 million as of their latest financial filing in 2025.

Over the last 10 years, Trupanion's book value per share changed from 1.61 in 2015 to 8.89 in 2025, a change of 453.6%.


Related Companies

Financial statements for NASDAQ:TRUP last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
ALERT: Drop these 5 stocks before the market opens tomorrow!
The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings researc...
Weiss Ratings | Sponsoredtc pixel
Small Colorado Company (Backed by Sam Altman) Could Save U.S. Power Grid
A small Colorado company has secured rights to technology that could prevent the U.S. public power grid from c...
Altimetry | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
The $15 Gold Fund That Pays Up to $1,152/Month
Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying...
Investors Alley | Sponsoredtc pixel
Iran War Shock: What I Was Told In That Private Meeting
You’re Being LIED To About The Iran War Forget EVERYTHING you’ve heard about the Iran war. Especially th...
Banyan Hill Publishing | Sponsoredtc pixel
My top 3 AI picks for the next decade
Alexander Green bought Apple in 1996, recommended Nvidia at a split-adjusted 66 cents in 2004, and picked up A...
The Oxford Club | Sponsoredtc pixel
Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
Stansberry Research | Sponsoredtc pixel