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Nasdaq · Financials

TRUPANION, INC. (TRUP)

As-reported financials and SEC filings for TRUPANION, INC. The latest annual period is FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About TRUPANION, INC.

Trupanion, Inc. provides medical insurance for cats and dogs in the United States, Canada, and parts of Continental Europe. The company offers subscription-based pet insurance products that are priced based on each pet's unique characteristics and coverage level, helping pet owners budget for unexpected veterinary expenses. Trupanion serves pet owners directly and also partners with third parties to offer insurance products, supporting veterinary hospitals with proprietary software that facilitates direct payment for covered treatments.

Snapshot

Revenue
$1.44B
Revenue growth (YoY)
11.9%
Net income
$19.4M
Diluted EPS
$0.45
Gross margin
16.1%
Operating margin
1.0%
Net margin
1.4%
FCF margin
5.2%
ROE
5.1%
net income / fiscal-year-end equity
P/E
55.9×
trailing when available, otherwise FY EPS
Market cap
$1.29B
Long-term debt / equity
0.27×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Trupanion

  • Revenue grew 11.9% to $1.4B in FY2025, slower than the 16.0% the year before.
  • Operating margin turned positive at 1.0% in FY2025, from a 5.0% operating loss in FY2021.
  • Free cash flow was $75M in FY2025, 5.2% of revenue.
  • Net income turned positive at $19M in FY2025, from a $10M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Trupanion’s fundamentals sit among the 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin16.1%
18th percentile of 51
Operating margin1.0%
33rd percentile of 146
Net margin1.4%
19th percentile of 377
FCF margin5.2%
27th percentile of 272
Revenue growth (YoY)+11.9%
56th percentile of 420
ROE5.1%
30th percentile of 375
P/E55.9×
95th percentile of 318
Long-term debt / equity0.27×
42nd percentile of 194
Short interest5.01d
63rd percentile of 420

Trupanion’s P/E of 55.9 ranks in the 95th percentile of the 318 peers with a meaningful P/E.

No reported insider purchases (code P) in the last 90 days; 7 insider sales totaling $503,037. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$11.5M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$5.5M224.0KAdded
AQR Capital ManagementquantQ2 2026$1.7M68.1KAdded
Millennium ManagementquantQ2 2026$1.5M61.1KAdded
Renaissance TechnologiesquantQ2 2026$1.2M47.4KAdded
Citadel AdvisorsquantQ2 2026$1.1M44.6KReduced
D. E. ShawquantQ2 2026$439,39517.7KReduced

No longer held by: Gotham Asset Management (as of Q2 2026), Maverick Capital (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
7
$503K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-28
filed 2026-09-01
GALLAGHER JOHN RChief Operating OfficerSell3.6K$29.70$107K
2026-08-26
Qureshi FawwadChief Financial OfficerSell6.1K$30.01$183K
2026-08-25
filed 2026-08-26
Tooth MargaretCEOSell491$31.84$16K
2026-08-11
filed 2026-08-13
Tooth MargaretCEOSell978$29.05$28K
2026-07-28
filed 2026-07-30
GALLAGHER JOHN RChief Operating OfficerSell431$25.08$11K
2026-06-29
filed 2026-07-01
GALLAGHER JOHN RChief Operating OfficerSell431$25.35$11K
2026-06-05
filed 2026-06-09
WEINRAUCH STEVEEVP, North Am & Vet StrategySell6.7K$22.00$147K
2026-05-28
filed 2026-06-01
GALLAGHER JOHN RChief Operating OfficerSell3.6K$21.69$78K
2026-05-27
Qureshi FawwadChief Financial OfficerSell6.0K$22.17$133K
2026-05-27
Qureshi FawwadChief Financial OfficerSell170$22.63$4K
2026-05-25
filed 2026-05-27
Tooth MargaretCEOSell491$21.86$11K
2026-04-28
filed 2026-04-29
GALLAGHER JOHN RChief Operating OfficerSell431$27.47$12K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.0M
settled 2026-08-14
Change vs prior
+6.8%
vs previous settlement
Days to cover
5.01
at avg daily volume
Avg daily volume
792.6K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.0M+6.8%5.01
2026-07-313.7M+0.3%11.69
2026-07-153.7M-1.5%11.47
2026-06-303.8M-1.0%8.65
2026-06-153.8M-2.2%10.49
2026-05-293.9M+4.2%9.68
2026-05-153.7M+1.4%8.91
2026-04-303.7M+2.2%9.95

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.44B$1.29B$1.11B$905.2M$699.0M
Gross profit$231.0M$178.8M$131.0M$122.2M$104.3M
Operating income$13.8M$-9.5M$-40.7M$-43.0M$-35.2M
Net income$19.4M$-9.6M$-44.7M$-44.7M$-35.5M
Diluted EPS$0.45$-0.23$-1.08$-1.10$-0.89

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$89.5M$48.3M$18.6M$-8.0M$7.5M
Capital expenditure$14.1M$9.7M$18.3M$17.1M$12.4M
Free cash flow$75.4M$38.6M$358,000$-25.1M$-4.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Company facts

ExchangeNasdaq
SectorFinancials
SIC industryHospital & Medical Service Plans
Latest annual periodFY2025 (ended December 31, 2025)
Oldest indexed filing2020
SEC CIK1371285

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-15
View on EDGAR →
8-K2026-04-30
View on EDGAR →
8-K2026-04-27
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.