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MARKETS / NASDAQ / TRUP
NASDAQ · HOSPITAL & MEDICAL SERVICE PLANS · LARGE CAP

Trupanion, Inc. TRUP

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.4B
▲ 11.9% YoY
$19.4M
$75.4M
▲ 95.4% YoY
In brief

What this company does

Trupanion, Inc. provides medical insurance for cats and dogs in the United States, Canada, and certain countries in Continental Europe. As of December 31, 2025, the company employed 1,121 people across the U.S., Canada and Europe. It operates in two reporting segments, a subscription business and an other business. Within the subscription business segment, it generates revenue primarily through insurance premiums, referred to as subscription payments, from direct-to-consumer products. Within its subscription business, it also provides "Powered by Trupanion" products marketed by third parties, the Furkin and PHI Direct brands in Canada, and a Trupanion-branded product in Germany and Switzerland. The company was founded in Canada in 2000 as Vetinsurance Ltd. In 2013, it formally changed its name to Trupanion, Inc.

Written from the business description in TRUPANION, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.4B
Revenue, FY2025 · full 14-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.4 · Net income 0.0
0.5B1.0B20122014201620182020202220242025
Compound annual growth
+16.7%
+23.4%
+25.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +23.4% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
Operating margin Net margin
FY2025 · Operating 1.0% · Net
-5%-10%-15%20122014201620182020202220242025
ROE

No chart to show — the reason differs by year; see each year in the table below.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 75.4
40M-20M-40M20122014201620182020202220242025
Net buybacks $M Dividends $M
FY2024 · Dividends — · Net buybacks -0.8
2M-2M2021202220232024

Total assetsUSD 915.0M
EquityUSD 383.9M
CashUSD 138.0M
Gross debtUSD 111.8M
Net debtUSD -26.2M
Current ratio1.69×

The company holds more cash than debt.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B1.41.31.10.90.70.50.40.30.20.20.10.10.10.1
Operating income $B0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B0.00.0−0.0−0.0−0.00.00.00.00.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.0−0.0−0.00.00.00.00.0−0.0−0.00.00.0−0.0−0.00.0
Net income $B0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B0.10.00.0−0.0−0.00.00.0−0.00.00.0−0.0−0.0−0.0−0.0
EPS, diluted $0.45−0.23−1.08−1.10−0.89−0.16−0.05−0.03−0.05−0.24−0.62−1.64−6.23−9.76
Dividend / sh $··············
Payout %··············
ROE %···········−161.2··
Shares out B0.040.040.040.040.040.030.030.030.030.030.030.030.00·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 33 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityHospital & Medical Service Plans
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2012

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