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Companies / Financials / Trupanion, Inc.
TRUP

Trupanion, Inc.

FinancialsInsurance
Ticker TRUPSEATTLE, WAFiscal year ends DecemberBook value per share $9.36Diluted shares 43.8M

Trupanion, Inc. (Nasdaq: TRUP) provides medical insurance for cats and dogs in the United States, Canada and certain countries in Continental Europe, serving pet owners through direct-to-consumer sales and third-party partners. Its products price coverage based on each pet’s characteristics and selected coverage… From the company’s description.

In fiscal 2025, Trupanion, Inc. reported revenue of $1.44B, up 11.9% from fiscal 2024, and net income of $19.43M. Its operating margin was 1.0%, and operations generated $89.49M in cash. Over the twelve months to Jun 30, 2026, revenue was $1.52B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.44BFY2025
+11.9% year over year
Last 12 mo $1.52B
0.96%FY2025
+1.7 percentage points
Last 12 mo 1.59%
$19.43MFY2025
+301.7% year over year
Last 12 mo $23.21M
5.32%FY2025
+8.3 percentage points
Cash & financing
$89.49MFY2025
+85.3% year over year
Last 12 mo $94.08M
$75.36MFY2025
+95.4% year over year
Last 12 mo $82.18M
0.29FY2025
Was 0.40× a year earlier
Last 12 mo 0.26
43.6MFY2025
+3.3% year over year
Last 12 mo 43.8M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Trupanion, Inc. does

In the company’s own words

Trupanion, Inc. (Nasdaq: TRUP) provides medical insurance for cats and dogs in the United States, Canada and certain countries in Continental Europe, serving pet owners through direct-to-consumer sales and third-party partners. Its products price coverage based on each pet’s characteristics and selected coverage level; its core Trupanion plan offers lifetime coverage, and proprietary software enables participating veterinary hospitals to receive direct payment for approved invoices. The company reports two segments: subscription business, primarily insurance premiums from direct-to-consumer products, and other business, chiefly policies underwritten for third parties, including Pets Best. Subscription products also include “Powered by Trupanion” offerings and the Furkin and PHI Direct brands in Canada, as well as products in Germany and Switzerland. In 2025, the subscription segment generated approximately 69% of revenue, and subscription revenue was $989.3 million. As of December 31, 2025, the company had 1,096,173 pets enrolled in its subscription business and employed 1,121 people. Founded in Canada in 2000 as Vetinsurance Ltd., it began doing business as Trupanion in 2007. Its website is www.trupanion.com.

Company details
Sector
Financials
Industry (SIC)
Insurance
Headquarters
SEATTLE, WA
Fiscal year end
December
CIK
1371285
SIC
6324

Financial performance, year by year

Fiscal 2014–2025 · USD
$-201.24M$268.40M$738.03M$1.21B$1.68B201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Trupanion, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

210
funds hold it
1 of 35
superinvestors hold it
$381.99M
held by funds, at market
36.1%
of shares held by funds

Superinvestors in Trupanion, Inc. · what they did last quarter

Josh TarasoffUNCHANGED
Greenlea Lane Capital Management
5.3%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Trupanion, Inc.’s weight in each

0.05%of fund net assets
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.05%of fund net assets
0.01%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Trupanion, Inc. and its peers compare on margins and cash generation over ten years?”
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