TRUP · Trupanion, Inc.

0001371285-26-000096

SEC filing

Summary

Revenue was $384.0M (12.3%) Gross Profit was $61.5M (20.3%) Operating Income was $4.8M (424.2%) Eps was $0.11 (466.7%)

Key takeaways

Revenue increased 12.3% to $384.0M from $342.0M as membership growth drove higher subscription revenue.
Gross profit rose 20.3% to $61.5M from $51.1M, expanding gross margin to 16.0% through subscription business improvements.
Operating income turned positive at $4.8M from -$1.5M loss, reflecting higher revenue and better subscription margins.
Diluted EPS improved to $0.11 from -$0.03, supported by profitability gains and stable share count.
Operating cash flow of $14.6M reflected timing differences in working capital, partially offset by stronger operating results.

Full analysis

Trupanion delivered its first profitable quarter on a GAAP basis, with operating income of $4.8M contrasting a $1.5M loss in Q1 FY2025. This turnaround stemmed from revenue growth to $384.0M (up 12.3% YoY) and gross profit expansion to $61.5M (up 20.3% YoY), lifting gross margin to 16.0% from the prior period. These gains reflect the subscription segment's resilience amid Pets Best run-off, where higher revenue per pet offset declining pet months as expected from the strategic transition.