TRUPANION, INC. (TRUP) FY2025 10-K Annual Report
TRUPANION, INC. (TRUP) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
TRUPANION, INC. FY2025 10-K Analysis
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
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
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
TRUPANION, INC. FY2025 Key Financial MetricsXBRL
Revenue
$1.4B
▲ +11.9% YoY
Net Income
$19M
▲ +301.7% YoY
Operating Margin
1.0%
▲ +170bp YoY
Net Margin
1.4%
▲ +210bp YoY
ROE
5.1%
▲ +804bp YoY
Total Assets
$915M
▲ +13.4% YoY
EPS (Diluted)
$0.45
▲ +295.7% YoY
Operating Cash Flow
$89M
▲ +85.3% YoY
Source: XBRL data from TRUPANION, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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