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Trupanion, Inc., together with its subsidiaries, provides medical insurance for cats and dogs on subscription basis in the United States, Canada, Continental Europe, and Australia. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians. The company was formerly known as Vetinsurance International, Inc. changed its name to Trupanion, Inc. in 2013. The company was founded in 2000 and is headquartered in Seattle, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | $52M | $19M | $75M | 5.1% | 11.9% | -301.7% |
| 2024 | $1.3B | $21M | $-10M | $39M | -3.0% | 16.0% | -78.4% |
| 2023 | $1.1B | $-20M | $-45M | $0M | -14.7% | 22.5% | 0.0% |
| 2022 | $905M | $-29M | $-45M | $-25M | -14.6% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 905.18 | 1,108.60 | 1,285.68 | 1,439.30 |
| Cost Of Revenue | - | 782.99 | 977.59 | 1,106.89 | 1,208.29 |
| Gross Profit | - | 122.18 | 131.02 | 178.80 | 231.01 |
| Operating Expense | - | 75.43 | 94.08 | 111.45 | 130.33 |
| Operating Income | - | 46.75 | 36.93 | 67.35 | 100.68 |
| EBITDA | - | -29.01 | -20.48 | 21.33 | 51.59 |
| EBIT | - | -39.93 | -32.96 | 4.86 | 35.75 |
| Pretax Income | - | -44.20 | -45.04 | -9.64 | 21.99 |
| Tax Provision | - | 0.48 | -0.34 | 0 | 2.56 |
| Net Income | - | -44.67 | -44.69 | -9.63 | 19.43 |
| Net Income Common Stockholders | - | -44.67 | -44.69 | -9.63 | 19.43 |
| Total Expenses | - | 858.43 | 1,071.67 | 1,218.34 | 1,338.63 |
| Interest Expense | - | 4.27 | 12.08 | 14.50 | 13.76 |
| Interest Income | - | 3 | 9 | 12.40 | 12.30 |
| Research And Development | - | 25.13 | 21.40 | 31.26 | 37.85 |
| Selling General And Administration | - | 39.38 | 60.21 | 63.73 | 76.65 |
| Normalized EBITDA | - | 60.49 | 56.89 | 98 | 138.13 |
| Normalized Income | - | 26.03 | 32.06 | 67.04 | 95.93 |
| Market Cap | 1,192.59 | 1,192.59 | 1,192.59 | 1,192.59 | 1,192.59 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Trupanion, Inc.this co. | TRUP | $1.2B | 61.37↑ premium | 3.11 | 5.1% | 22.61 |
| Peoples Bancorp Inc. | PEBO | $1.2B | 10.91 | 0.99 | 8.8% | - |
| Goosehead Insurance, Inc. | GSHD | $1.2B | 41.05 | -11.96 | -29.1% | - |
| Amalgamated Financial Corp. | AMAL | $1.2B | 11.84 | 1.49 | 13.1% | - |
| Community Trust Bancorp, Inc. | CTBI | $1.2B |
| - |
| - |
| - |
| - |
| 11.39 |
| 1.36 |
| 11.5% |
| - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.37 | 1.26 | 17.2% | - |
| Coastal Financial Corporation | CCB | $1.2B | 23.59 | 2.33 | 9.6% | - |
| First Mid Bancshares, Inc. | FMBH | $1.1B | 11.23 | 1.08 | 9.6% | - |
| Atlanticus Holdings Corporation | ATLC | $1.1B | 12.87 | 1.88 | 20.2% | - |
| Peer Median | - | 11.62 | 1.31 | 10.5% | - | |