TRUPANION, INC. (TRUP) financial statements: income statement, balance sheet and cash flow

TRUPANION, INC.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), TRUPANION, INC. reported revenue of $1.4B (+11.9% year on year) and net income of $19.4M (+301.7% year on year).

Income statement

TRUPANION, INC. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenue	$1.4B	$1.3B	$1.1B	$905.2M
Veterinary invoice expense	$1.0B	$949.1M	$831.1M	$649.7M
Other cost of revenue	$179.3M	$157.7M	$146.5M	$133.3M
Total cost of revenue	$1.2B	$1.1B	$977.6M	$783.0M
Technology and development	$37.8M	$31.3M	$21.4M	$25.1M
General and administrative	$76.6M	$63.7M	$60.2M	$39.4M
New pet acquisition expense	$85.4M	$71.4M	$77.4M	$89.5M
Goodwill, Impairment Loss	$1.1M	$5.3M	—	—
Depreciation and amortization	$15.8M	$16.5M	$12.5M	$10.9M
Total operating expenses	$216.9M	$188.1M	$171.5M	$164.9M
Loss from investment in joint venture	($305.0K)	($182.0K)	($219.0K)	($253.0K)
Operating income (loss)	$13.8M	($9.5M)	($40.7M)	($43.0M)
Interest expense	$13.8M	$14.5M	$12.1M	$4.3M
Other (income), net	($21.9M)	($14.4M)	($7.7M)	($3.1M)
Income (loss) before income taxes	$22.0M	($9.6M)	($45.0M)	($44.2M)
Income tax expense (benefit)	$2.6M	($5.0K)	($342.0K)	$476.0K
Net income (loss)	$19.4M	($9.6M)	($44.7M)	($44.7M)
Earnings Per Share, Basic	$0.45	-$0.23	-$1.08	-$1.10
Earnings Per Share, Diluted	$0.45	-$0.23	-$1.08	-$1.10
Weighted Average Number of Shares Outstanding, Basic	43.0M	42.2M	41.4M	40.8M
Weighted Average Number of Shares Outstanding, Diluted	43.6M	42.2M	41.4M	40.8M

TRUPANION, INC. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$392.9M	$384.0M	$366.9M	$353.6M
Claims Expense	$279.5M	$281.4M	$263.1M	$255.6M
Other Cost of Services Sold	$48.3M	$41.1M	$43.7M	$43.1M
Cost of Revenue	$327.8M	$322.6M	$306.9M	$298.7M
Technology and Development Expense	$12.8M	$11.3M	$9.9M	$8.6M
General and Administrative Expense	$19.5M	$19.1M	$18.3M	$20.1M
Selling and Marketing Expense	$22.8M	$22.6M	$21.9M	$19.8M
Depreciation, Depletion and Amortization	$3.7M	$3.7M	$4.1M	$4.0M
Operating Expenses	$58.8M	$56.7M	$54.2M	$52.5M
Income (Loss) from Equity Method Investments	$0	$0	$0	$0
Operating Income (Loss), Total	$6.4M	$4.8M	$5.9M	$2.3M
Interest Expense	$1.8M	$1.9M	$2.8M	$3.7M
Other Nonoperating Income (Expense)	($2.8M)	($3.1M)	($3.5M)	($11.9M)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$7.4M	$6.0M	$6.6M	$10.5M
Income Tax Expense (Benefit)	$542.0K	$1.1M	$726.0K	$1.1M
Net Income (Loss) Available to Common Stockholders, Basic, Total	$6.8M	$4.9M	$5.9M	$9.4M
Earnings Per Share, Basic	$0.16	$0.11	$0.14	$0.22
Earnings Per Share, Diluted	$0.16	$0.11	$0.13	$0.22
Weighted Average Number of Shares Outstanding, Basic	43.7M	43.5M	43.1M	42.9M
Weighted Average Number of Shares Outstanding, Diluted	43.8M	43.7M	43.6M	43.3M

Balance sheet

TRUPANION, INC. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$138.0M	$160.3M	$147.5M	$65.6M
Short-term investments	$232.7M	$147.1M	$129.7M	$156.8M
Accounts and other receivables	$301.9M	$274.0M	$267.9M	$232.4M
Prepaid expenses and other assets	$18.4M	$15.9M	$17.0M	$14.2M
Total current assets	$691.1M	$597.3M	$562.1M	$469.1M
Restricted cash	$33.4M	$39.2M	$23.0M	$19.0M
Long-term investments	$983.0K	$373.0K	$12.9M	$7.8M
Property, equipment, and internal-use software, net	$104.8M	$102.2M	$103.7M	$90.7M
Intangible assets, net	$24.1M	$13.2M	$18.7M	$24.0M
Other long-term assets	$21.2M	$17.6M	$18.9M	$18.9M
Goodwill	$39.4M	$37.0M	$43.7M	$42.0M
Total assets	$915.0M	$806.9M	$782.9M	$671.6M
Accounts payable	$16.4M	$11.5M	$10.5M	$9.5M
Accrued liabilities and other current liabilities	$56.5M	$33.5M	$34.1M	$32.6M
Reserve for veterinary invoices	$55.9M	$51.6M	$63.2M	$43.7M
Deferred revenue	$270.9M	$251.6M	$235.3M	$202.7M
Long-Term Debt, Current Maturities	$10.0M	$1.4M	$1.4M	$1.1M
Total current liabilities	$409.8M	$349.6M	$344.5M	$289.6M
Long-Term Debt	$101.8M	$127.5M	$127.6M	$68.4M
Deferred tax liabilities	$1.5M	$1.9M	$2.7M	$3.4M
Other liabilities	$18.0M	$4.5M	$4.5M	$5.0M
Total liabilities	$531.1M	$483.6M	$479.2M	$366.3M
Common stock: $0.00001 par value per share	$0.00	$0.00	$0.00	$0.00
Preferred stock: $0.00001 par value per share	$0.00	$0.00	$0.00	$0.00
Additional paid-in capital	$604.8M	$568.3M	$536.1M	$499.7M
Accumulated other comprehensive income (loss)	$2.1M	($2.6M)	$403.0K	($6.3M)
Accumulated deficit	($206.5M)	($225.9M)	($216.3M)	($171.6M)
Treasury stock, at cost	($16.5M)	($16.5M)	($16.5M)	($16.5M)
Total stockholders' equity	$383.9M	$323.3M	$303.7M	$305.3M
Total liabilities and stockholders’ equity	$915.0M	$806.9M	$782.9M	$671.6M
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	$0.00	$0.00
Common Stock, Shares Authorized	100.0M	100.0M	100.0M	100.0M
Preferred Stock, Shares Issued	0	0	0	0
Preferred Stock, Shares Authorized	10.0M	10.0M	10.0M	10.0M
Preferred Stock, Par or Stated Value Per Share	$0.00	$0.00	$0.00	$0.00

TRUPANION, INC. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and Cash Equivalent	$149.4M	$153.5M	$154.8M	$122.7M
Short-term Investments	$249.1M	$230.2M	$193.8M	$196.9M
Accounts and Other Receivables, Net, Current	$302.2M	$304.8M	$302.5M	$292.8M
Prepaid Expense and Other Assets	$18.8M	$16.7M	$17.0M	$16.7M
Assets, Current, Total	$719.4M	$705.2M	$668.0M	$629.1M
Restricted Cash and Cash Equivalent	$28.9M	$29.4M	$34.1M	$41.7M
Marketable Securities, Noncurrent	$989.0K	$986.0K	$981.0K	$167.0K
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization	$101.4M	$102.6M	$104.7M	$101.8M
Intangible Asset, Excluding Goodwill, after Accumulated Amortization	$23.3M	$23.7M	$24.8M	$26.1M
Other Assets, Noncurrent	$18.0M	$21.1M	$7.2M	$7.9M
Goodwill	$38.6M	$38.6M	$40.4M	$41.0M
Assets, Total	$930.8M	$921.6M	$880.2M	$847.8M
Accounts Payable, Current	$12.0M	$12.8M	$12.8M	$8.7M
Accrued Liabilities, Current	$44.6M	$42.3M	$43.6M	$37.6M
Liability for Claims and Claims Adjustment Expense	$51.7M	$56.7M	$54.0M	$52.5M
Deferred Revenue	$287.2M	$286.5M	$279.7M	$272.1M
Long-term Debt, Current Maturities	$10.0M	$10.0M	$750.0K	$1.4M
Liabilities, Current, Total	$405.5M	$408.4M	$390.8M	$372.3M
Long-term Debt, Excluding Current Maturities	$96.9M	$99.3M	$113.8M	$113.1M
Deferred Income Tax Liabilities, Net	$639.0K	$955.0K	$2.3M	$2.0M
Other Liabilities, Noncurrent	$18.1M	$18.1M	$4.8M	$4.9M
Liabilities, Total	$521.1M	$526.8M	$511.6M	$492.3M
Common Stock, Value, Outstanding	$0	$0	$0	$0
Preferred Stock, Value, Outstanding	$0	$0	$0	$0
Additional Paid in Capital	$623.6M	$613.6M	$595.8M	$587.3M
Accumulated Other Comprehensive Income (Loss), Net of Tax	($2.6M)	($693.0K)	$1.4M	$2.7M
Retained Earnings (Accumulated Deficit)	($194.7M)	($201.6M)	($212.1M)	($218.0M)
Treasury Stock, Value	($16.5M)	($16.5M)	($16.5M)	($16.5M)
Stockholders' Equity Attributable to Parent	$409.7M	$394.8M	$368.6M	$355.5M
Liabilities and Equity	$930.8M	$921.6M	$880.2M	$847.8M

Cash flow statement

TRUPANION, INC. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net loss	$19.4M	($9.6M)	($44.7M)	($44.7M)
Depreciation and amortization	$15.8M	$16.5M	$12.5M	$10.9M
Stock-based compensation expense	$38.3M	$33.4M	$33.2M	$33.4M
Nonmonetary Transaction, Gain (Loss) Recognized on Transfer	($7.8M)	—	—	—
Goodwill, Impairment Loss	$1.1M	$5.3M	—	—
Other, net	$2.1M	($1.7M)	$1.3M	$1.1M
Accounts and other receivables	($27.2M)	($6.7M)	($35.4M)	($67.0M)
Prepaid expenses and other assets	($1.2M)	$3.2M	($1.9M)	($5.2M)
Accounts payable, accrued liabilities, and other liabilities	$26.0M	$2.1M	$1.6M	$3.1M
Reserve for veterinary invoices	$4.1M	($11.3M)	$19.5M	$4.2M
Deferred revenue	$18.7M	$17.2M	$32.6M	$56.2M
Net cash provided by operating activities	$89.5M	$48.3M	$18.6M	($8.0M)
Purchases of investment securities	($256.0M)	($133.5M)	($165.9M)	($273.0M)
Maturities and sales of investment securities	$172.6M	$127.7M	$190.3M	$239.2M
Purchases of property, equipment, and internal-use software	($14.1M)	($9.7M)	($18.3M)	($17.1M)
Other	$1.7M	$2.1M	$1.6M	($1.6M)
Net cash provided by (used in) investing activities	($95.9M)	($13.5M)	$7.6M	($67.5M)
Proceeds from exercise of stock options	$1.7M	$752.0K	$2.7M	$2.3M
Shares withheld to satisfy tax withholding	-3.7M	-2.5M	-1.5M	-4.4M
Proceeds from debt financing, net of financing fees	$114.2M	$0	$60.1M	$69.1M
Repayment of debt financing	($134.4M)	($1.4M)	($1.7M)	($571.0K)
Other	($614.0K)	($840.0K)	($378.0K)	$0
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation, Total	($22.9M)	($4.0M)	$59.1M	$60.7M
Net change in cash, cash equivalents, and restricted cash	($28.1M)	$29.0M	$85.8M	($16.2M)
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	$1.2M	($1.9M)	$424.0K	($1.5M)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	$199.5M	$170.5M	$84.6M	$100.9M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	$171.5M	$199.5M	$170.5M	$84.6M
Interest paid	$13.1M	$13.2M	$12.1M	$3.4M
Purchases of property, equipment, and internal-use software included in accounts payable and accrued liabilities	$129.0K	$534.0K	$887.0K	$1.3M
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$14.5M	—	—	—
Noncash or Part Noncash Acquisition, Description	$14.8M	—	—	—

TRUPANION, INC. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net Income (Loss) Available to Common Stockholders, Basic	$11.7M	$4.9M	$13.8M	$7.9M
Depreciation, Depletion and Amortization	$7.4M	$3.7M	$11.8M	$7.8M
Share-based Payment Arrangement, Noncash Expense	$19.0M	$9.0M	$28.8M	$19.3M
Nonmonetary Transaction, Gain (Loss) Recognized on Transfer	$0	—	($7.8M)	($7.8M)
Other Operating Income (Expense), Net	($378.0K)	($213.0K)	$1.2M	$951.0K
Increase (Decrease) in Accounts Receivable	($627.0K)	($3.0M)	($27.9M)	($18.0M)
Increase (Decrease) in Prepaid Expense and Other Assets	$2.6M	$2.0M	($540.0K)	($584.0K)
Increase (Decrease) in Accounts Payable and Accrued Liabilities	($16.8M)	($18.3M)	$11.0M	$990.0K
Increase (Decrease) in Claims Reserve and Loss Adjustment	($4.0M)	$842.0K	$2.2M	$697.0K
Increase (Decrease) in Unearned Premiums	$16.8M	$15.8M	$27.7M	$19.8M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation	$35.6M	$14.6M	$60.2M	$31.0M
Payments to Acquire Held-to-maturity Securities	($120.0M)	($47.9M)	($183.0M)	($142.0M)
Maturities of Investment Securities	$100.2M	$48.9M	$137.8M	$94.3M
Payments to Acquire Property, Plant, and Equipment	($2.7M)	($847.0K)	($10.2M)	($4.9M)
Payment for (Proceeds from) Other Investing Activity	($17.0K)	($35.0K)	$1.6M	$1.2M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	($22.4M)	$113.0K	($53.8M)	($51.4M)
Repayments of Debt	($5.0M)	($2.5M)	($15.7M)	($15.5M)
Proceeds from Stock Options Exercised	$668.0K	$260.0K	$1.4M	$1.3M
Payment, Tax Withholding, Share-based Payment Arrangement	($976.0K)	($496.0K)	($2.9M)	($1.7M)
Proceeds from (Payment for) Other Financing Activity	$0	$0	($614.0K)	($460.0K)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation	($5.3M)	($2.7M)	($17.8M)	($16.3M)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	($999.0K)	($557.0K)	$701.0K	$1.7M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$6.8M	$11.4M	($10.6M)	($35.1M)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	$171.5M	$171.5M	$199.5M	$199.5M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	$178.3M	$182.9M	$188.9M	$164.5M
Capital Expenditures Incurred but Not yet Paid	$605.0K	$340.0K	$571.0K	$296.0K
Noncash or Part Noncash Acquisition, Intangible Assets Acquired	$0	—	$14.8M	$14.8M

TRUPANION, INC. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.