TRUP at a glance
TRUPANION, INC. (TRUP, SEC CIK 1371285) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and Form 4 insider filings as recently as September 30, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), TRUPANION, INC. (TRUP) reported revenue of $1.4 billion (up 11.9% from FY2024) and net income of $19.4 million. Diluted EPS was $0.45.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding TRUPANION, INC. (TRUP) shares worth $476.6 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by GALLAGHER JOHN R on September 28, 2026 of 431 shares at $22.92 per share.
- In the last 90 days, TRUP insiders reported 0 open-market purchases ($0) and 7 open-market sales ($380K) on Form 4, a net sale of $380K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.4B
- +11.9% vs prior year
- Insiders · 90 days
- 0 buys · 7 sells
- Net −$380K
- 13F holders
- 31 funds
- $476.6M · +1 vs prior quarter
- Latest 8-K
- Aug 5, 2026
- Item 8.01 · Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: vertically-integrated medical insurance for cats and dogs with data-driven, subscription-based pricing personalized to each pet
- New emphasis on "Powered by Trupanion" third-party marketed products and expansion of low/medium revenue products Furkin and PHI Direct in Canada
- Strategic focus on increasing veterinary hospital leads, member referrals, conversion rates, and automating veterinary invoice payments using AI to reduce costs
- Employee count 1,121 as of Dec 31, 2025, with 159 field Territory Partners; revenue growth CAGR 28% from $19.1M in 2010 to $989.3M in 2025
- Patent portfolio expanded with 13 issued and 23 pending patents covering veterinary software, claims automation, pet tracking, and pet food technology
Risk Factors
- Regulatory risk: potential disallowance or delay of subscription price increases by state insurance regulators impacting revenue
- Macroeconomic threat: inflation and rising interest rates potentially reducing consumer ability or willingness to pay for subscriptions
- Operational vulnerability: reliance on independent Territory Partners critical for lead generation, with risk of termination or misclassification causing legal and financial exposures
- Competitive risk: established insurers and new large entrants increasing pet acquisition costs and challenging market share
- Financial risk: accumulated deficit $206.5M as of Dec 31, 2025, with uncertainty in recovering $85.4M spent on new pet acquisition in 2025
Management Discussion & Analysis
- Revenue $1.0B subscription segment, with monthly average revenue per pet $80.79 in 2025 vs $72.98 in 2024
- Subscription cost of paying veterinary invoices 70.5% of subscription revenue in 2025 vs 72.5% in 2024
- Subscription pets enrolled 1,096,173 in 2025, up 5.2% YoY from 1,041,212 in 2024; other segment pets declined
- New pet acquisition cost $77.9M (7.9% subscription revenue) in 2025 vs $64.4M (7.5%) in 2024; fixed expenses 5.8% of revenue
- Management targets pet acquisition return on investment; expects continued decline in other segment from Pets Best relationship
AI summary of the TRUP 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Subscription pets 1,124,548 vs 1,066,354 YoY; monthly revenue per pet $87.44 vs $79.93
- Subscription veterinary costs 70.2% of revenue vs 71.1% YoY; variable expenses 9.0% vs 9.1%
- Best segment subscription business; other business targets significantly lower margins, with Pets Best relationship ending after Q3 2028
- Headwinds: veterinary inflation, pricing-adjustment timing, rising PAC $299 vs $276, declining Pets Best enrollment
Risk Factors
- Newly added third-party underwriting risk: Pets Best premiums represented 30% of total revenue for 2025
- Most material update: Pets Best relationship ending after Q3 2028, with uncontrolled enrollment roll-off reducing revenue and diversification
- Compliance risk: Delayed or inaccurate third-party financial information could impair regulatory filings and audited financial statements
- Operational risk: Pets Best administration during roll-off may divert attention from the subscription business
- Financial risk: $100 million share-repurchase authorization may reduce cash reserves depending on execution
AI summary of the TRUP 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Board authorized $100 million share repurchase program, signaling capital-return support and potential share-count reduction
- No expiration date and no required purchase amount, leaving execution dependent on liquidity, valuation and alternatives
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026
- Press release furnished as Exhibit 99.1, containing the detailed financial results
Item EX-99.1: Item EX-99.1
- Q2 revenue $392.9M, up 11%; subscription revenue $276.7M, up 14%, reinforcing the core growth engine
- Subscription pets rose 5% to 1,124,548, while total enrolled pets fell 2% to 1,633,131, signaling segment mix shift
Item 5.07: Submission of Matters to a Vote of Security Holders
- All nine director nominees elected, with 30.5–30.9 million votes for each and 3,968,734 broker non-votes
- Ernst & Young ratified as fiscal 2026 auditor, receiving 34,886,804 votes for versus 53,345 against
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 results covered quarter ended March 31, 2026
- Press release furnished as Exhibit 99.1 contains the financial results
Item EX-99.1: Item EX-99.1
- Q1 revenue $384.0M, up 12% YoY, led by subscription revenue of $269.5M, up 16%
- Subscription pets grew 5% to 1,105,783, while total enrolled pets declined 2% to 1,637,665
AI summaries of TRUP 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for TRUP
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| GALLAGHER JOHN R | Sell | Sep 28, 2026 | 431 | $22.92 |
| Tooth Margaret | Sell | Sep 11, 2026 | 1,000 | $25.00 |
| GALLAGHER JOHN R | Sell | Aug 28, 2026 | 3,604 | $29.70 |
| Qureshi Fawwad | Sell | Aug 26, 2026 | 6,111 | $30.01 |
| BEARMAN ASHER | M | Aug 25, 2026 | 125 | - |
| BEARMAN ASHER | F | Aug 25, 2026 | 40 | $31.84 |
| BEARMAN ASHER | M | Aug 25, 2026 | 125 | - |
| POWELL BRADLEY S | M | Aug 25, 2026 | 1,640 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $1.3B | $1.4B |
| Operating Income | - | -$9.5M | $13.8M |
| Net Income | -$44.7M | -$9.6M | $19.4M |
| Op. Margin | - | -0.7% | 1.0% |
| Net Margin | - | -0.7% | 1.4% |
| Balance Sheet | |||
| Total Assets | - | $806.9M | $915.0M |
| Equity | $303.7M | $323.3M | $383.9M |
| ROE | -14.7% | -3.0% | 5.1% |
| Per Share | |||
| EPS | - | $-0.23 | $0.45 |
| Cash Flow | |||
| Operating CF | $18.6M | $48.3M | $89.5M |
| CapEx | $18.3M | $9.7M | $14.1M |
Source: XBRL data in TRUPANION, INC. (TRUP)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate TRUP share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $476.6M |
| Q1 2026 | 30 | $489.4M |
| Q4 2025 | 31 | $755.9M |
| Q3 2025 | 29 | $884.6M |
| Q2 2025 | 28 | $1.14B |
| Q1 2025 | 25 | $546.5M |
| Q4 2024 | 21 | $605.3M |
| Q3 2024 | 18 | $299.4M |
- Morgan Stanley+203.3K (+29%)
- JPMorgan Chase & Co+181.0K (+173%)
- Goldman Sachs Group+133.4K (+37%)
- Two Sigma Investments+54.8K (+32%)
- State Street Corp+48.2K (+4%)
- Dimensional Fund Advisors−321.5K (-46%)
- FMR LLC (Fidelity)−314.0K (-23%)
- D.E. Shaw & Co−42.3K (-70%)
- Citadel Advisors LLC−34.1K (-43%)
- Bank of America Corp−15.0K (-3%)
- Allstate+38.0K
Source: 13F-HR filings on SEC EDGAR (aggregated from 213 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
TRUP filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jul 30, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 8-K | Jun 15, 2026 | - | Analysis | - |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - |
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TRUP SEC filings: frequently asked questions
Are TRUP insiders buying or selling?
In the last 90 days, TRUPANION, INC. (TRUP) officers, directors and 10% owners reported no open-market purchases and 7 open-market sales worth $380,162 by 3 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold TRUP stock?
As of June 30, 2026, the largest TRUPANION, INC. (TRUP) holders among the 13F filers tracked by SignalX were BlackRock ($134.8 million), Aflac ($90.1 million), Vanguard Portfolio Management LLC ($44.6 million), Vanguard Capital Management LLC ($36.8 million), State Street Corp ($33.8 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was TRUP's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), TRUPANION, INC. (TRUP) reported revenue of $1.4 billion (up 11.9% from FY2024) and net income of $19.4 million. Diluted EPS was $0.45. The figures come from the XBRL data in the 10-K.
What are the main risks in TRUP's latest 10-K?
In the 10-K filed February 13, 2026, TRUPANION, INC. (TRUP) flagged: Regulatory risk: potential disallowance or delay of subscription price increases by state insurance regulators impacting revenue. Macroeconomic threat: inflation and rising interest rates potentially reducing consumer ability or willingness to pay for subscriptions. (AI summary of the Risk Factors section.)
What did TRUP report in its latest 8-K?
TRUPANION, INC. (TRUP) filed an 8-K on August 5, 2026 reporting Item 8.01 (Other Events) and Item 2.02 (Results of Operations and Financial Condition). Board authorized $100 million share repurchase program, signaling capital-return support and potential share-count reduction.
What are the latest TRUP SEC filings?
TRUPANION, INC. (TRUP) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and a Form 4 insider filing on September 30, 2026.
What is TRUP's SEC CIK number?
TRUPANION, INC. (TRUP)'s SEC Central Index Key (CIK) is 1371285. EDGAR lists every TRUP filing under that number.
Ask anything about TRUP
The research agent reads TRUP's filings, financials, insider trades and 13F holders, then answers with sources.