Trupanion (NASDAQ:TRUP) announces quarterly earnings results. November 5, 2026 Key points. * Trupanion reported quarterly EPS of $0.21, beating the $0.16 consensus estimate, while revenue of $405.6 million also topped forecasts. * Third-quarter adjusted operating income reached a record $47 million, up 15% year over year, and free cash flow hit a record $28.5 million. The company raised the midpoint of its full-year adjusted operating income outlook to $180.5 million. * Customer growth and retention improved, but management expects veterinary cost inflation to remain in the double digits into 2027, making continued premium increases necessary while affordability remains a concern. * Interested in Trupanion? Here are five stocks we like better. Trupanion (NASDAQ:TRUP - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05, FiscalAI reports. Trupanion had a net margin of 1.53% and a return on equity of 5.96%. The firm had revenue of $405.59 million for the quarter, compared to analyst estimates of $402.53 million. Here are the key takeaways from Trupanion's conference call: * Trupanion reported record third-quarter adjusted operating income of $47 million, up 15% year over year, on revenue of $405.6 million, up 11%. Free cash flow also reached a record $28.5 million, and the company reported its sixth consecutive quarter of positive net income. * Growth and customer metrics improved: net new pets exceeded 20,500, up more than 28% year over year, while average monthly retention rose for the seventh consecutive quarter to 98.38%. Management attributed stronger conversion and lower acquisition cost per pet in part to expanded plan options and digital enrollment improvements. * The company raised the midpoint of its full-year adjusted operating income outlook to $180.5 million, implying about 19% year-over-year growth, and expects fourth-quarter adjusted operating income of $48 million to $51 million. Full-year subscription revenue is now expected to grow about 14% at the midpoint. * Management expects veterinary cost inflation to remain in the double digits into 2027, requiring continued pricing adjustments. It said average member increases may ease as pricing catches up with costs, but affordability remains an important consideration. * Trupanion repurchased about $25 million of shares in the quarter and repaid $15 million of borrowings after quarter-end, while continuing to fund growth initiatives. Its Landspath pet-food trials are underway, but management expects limited revenue from the initiative over the next 18 months. Trupanion stock up 3.1%. Shares of Trupanion stock traded up $1.05 on Thursday, hitting $34.72. The company had a trading volume of 733,923 shares, compared to its average volume of 437,702. The stock has a 50-day moving average of $27.00 and a 200-day moving average of $26.66. The firm has a market capitalization of $1.52 billion, a P/E ratio of 65.51, a P/E/G ratio of 1.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.77. Trupanion has a twelve month low of $21.16 and a twelve month high of $46.98. Analysts set new price targets. TRUP has been the topic of a number of recent analyst reports. Weiss Ratings raised Trupanion from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 29th. Stifel Nicolaus increased their target price on Trupanion from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Thursday, August 20th. Piper Sandler cut shares of Trupanion from an "overweight" rating to a "neutral" rating and cut their target price for the company from $45.00 to $32.00 in a research note on Wednesday, August 26th. Cantor Fitzgerald lowered their price objective on shares of Trupanion from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. Finally, Atlantic Securities set a $42.00 price target on Trupanion in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Trupanion has an average rating of "Hold" and an average price target of $38.40. Insider transactions at Trupanion. In other news, CFO Fawwad Qureshi sold 6,111 shares of Trupanion stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $30.01, for a total value of $183,391.11. Following the sale, the chief financial officer directly owned 4,230 shares in the company, valued at $126,942.30. This trade represents a 59.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Margaret Tooth sold 1,000 shares of Trupanion stock in a transaction on Friday, October 9th. The shares were sold at an average price of $25.84, for a total transaction of $25,840.00. Following the completion of the sale, the chief executive officer owned 184,952 shares in the company, valued at $4,779,159.68. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,046 shares of company stock valued at $407,743 in the last ninety days. 5.58% of the stock is currently owned by corporate insiders. About Trupanion. Trupanion, Inc is a pet insurance company that provides medical insurance coverage for cats and dogs. Its products are designed to help pet owners manage the cost of veterinary care, including coverage for eligible illnesses, injuries and other qualifying medical conditions, subject to the terms of each policy. The company offers subscription-based pet insurance through the Trupanion brand, with coverage generally intended for ongoing veterinary expenses rather than routine or preventive care. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Trupanion, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trupanion wasn't on the list. While Trupanion currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. 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A partnership for pets: Simon Cowell and Trupanion team up. The new partnership between Trupanion and Cowell aims to raise awareness about growing needs within the pet community. SEATTLE, Oct. 08, 2026 (GLOBE NEWSWIRE) - Trupanion, North America's leading pet insurer, announced today a new partnership with television personality and music executive Simon Cowell to raise awareness about the importance of protecting pets with pet insurance. Long known for his impeccable taste and eye for quality, Cowell says he decided to work with Trupanion after thoroughly reviewing the company and taking out a policy for each of his four dogs. "I've got to really trust something or love something to put my name behind it. I love animals and I love what Trupanion is doing. There's a reason nearly 99% of their customers are happy, it's because what they do for pets is working," said Simon Cowell. As part of the partnership, Trupanion and Cowell will create a series of media initiatives highlighting the importance of pet insurance and celebrating the unique bond between pets and the people who love and care for them. "From the moment I met Simon, it was clear he takes his dogs' care as seriously as anyone I've ever met. He came to us with hard questions, did his own homework, and took out a Trupanion policy for his four dogs. At Trupanion, our mission is to remove barriers to care so pets can get what they need, when they need it. Simon believes in that mission and sees the value of pet insurance and the impact Trupanion is making on pets' lives. Together, we can help more people understand why pet insurance is so important," said Margi Tooth, CEO and President of Trupanion. The Growing Importance of Pet Insurance Right now, there are more than 180 million pets across the United States and Canada. However, less than 5% of people have pet insurance. This is a growing problem because the cost of care, driven largely by advancements in veterinary medicine, means that without high-quality pet insurance, bills for unexpected accidents and illnesses can be thousands or even tens of thousands of dollars. Meanwhile, a recent survey found that a bill of around $1,500 would force many pet parents to choose between their financial health and the health, or even life, of their pet. "We need to start talking more about what it really costs to care for a pet over their lifetime. Veterinary care in many ways is akin to human medicine, which when used as intended, leads to pets living longer and healthier lives. But that care comes at a cost. Pet insurance is the best way to budget for those unexpected vet bills, while getting access to extraordinary veterinary care," said Tooth. "I love the peace of mind pet insurance brings because now you know you can afford to have your vet bills covered. And what's especially important with Trupanion is that they can pay your vet directly, so you don't have the stress of waiting to be paid back. How cool is that?" said Cowell. Raising Awareness about Protecting Pets Trupanion's partnership with Cowell is the latest initiative by the company to raise awareness about the importance of pet insurance. To highlight Trupanion's new partnership with Cowell, Trupanion has launched a dedicated landing spot on Trupanion.com highlighting Simon's passion for animals, his journey with Trupanion, and how pet insurance has helped him prepare for the unexpected. "This partnership is about bringing visibility to pet insurance as a whole. If Simon can help more pet parents understand the value of being prepared, that's a win for the pets we all love," said Tooth. About Trupanion Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, and certain countries in Continental Europe with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol "TRUP." The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by GPIC Insurance Company or Accelerant Insurance Company of Canada. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (in California, Trupanion Insurance Services, #0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. For more information, please visit Trupanion.com. [email protected]

Trupanion joins Home To Home to support pets through life's transitions. Alex Corbit PRISM MarketView Key points. * Trupanion has partnered with Home To Home(R), a nonprofit direct pet-rehoming platform, to reach adopters right when a pet changes households. * Home To Home adopters now get Trupanion's educational resources on veterinary costs and pet insurance, plus an exclusive Exam Day Offer that activates coverage right after a pet's first vet visit. * Home To Home posts more than 100,000 animals a year and achieves an approximately 86% positive-outcome rate, giving Trupanion a new, high-volume channel of newly bonded pet owners. * The tie-up extends Trupanion's existing playbook: embedding itself with breeders, shelters, and veterinary hospitals at the earliest point in the pet-ownership journey. * Trupanion disclosed no financial terms. The partnership is a customer-acquisition and brand initiative, not a material transaction. Partnership targets a high-intent moment in the adoption journey. Trupanion, Inc. (Nasdaq: TRUP), North America's largest pet insurer by enrolled pets, is expanding its reach through a new partnership with Home To Home(R), a nonprofit platform that connects pet guardians directly with adopters and fosters. Most insurers court customers through breeders or shelters. Trupanion is taking a different approach: it's reaching adopters at the exact moment a pet settles into a new home - often the same window when new owners first consider insurance. Home To Home adopters now get free access to Trupanion's educational content on unexpected veterinary costs and the value of medical coverage. Trupanion is also offering an exclusive Exam Day Offer that activates comprehensive coverage right after a pet's first veterinary exam. The offer mirrors acquisition tactics Trupanion already runs with breeder networks, where early, low-friction enrollment windows have historically converted new pet owners into paying policyholders. Scale of the rehoming channel supports lead volume. Home To Home lists more than 100,000 animals every year, and roughly 86% of those postings end in a successful rehoming. For shelter partners, the model delivers an average 26% reduction in owner surrenders. That eases capacity pressure on shelters and directs more pet transitions through a channel where Trupanion now has visibility. For Trupanion, this volume isn't a one-time opportunity - it's a recurring source of new leads. Each successful rehoming creates a new pet owner who must budget for veterinary care. That's the exact decision point Trupanion's enrollment strategy targets. Consistent with Trupanion's broader acquisition strategy. The Home To Home partnership builds on, rather than reinvents, Trupanion's playbook. For years, the company has embedded its brand with breeders, shelters, and veterinary hospitals instead of relying solely on direct-to-consumer marketing. These distribution partnerships typically cost less than paid acquisition channels. Investors should track enrollment and retention data, not immediate revenue, to gauge success. Investor takeaway. This is a brand and customer-acquisition move, not a financial catalyst. Trupanion disclosed no revenue, enrollment, or cost terms, so the near-term impact on the top line is likely immaterial. The more relevant signal is strategic: Trupanion keeps diversifying its funnel of newly bonded pet owners at low incremental cost. That reinforces a distribution model built on partnerships rather than dependence on any single acquisition channel. Sustained execution across these partnerships - not any single announcement - will ultimately drive pet enrollment growth and lifetime value. Investor items to watch. * Total pets enrolled and net pet acquisition trends in upcoming quarterly reports * Retention and lifetime value across rehoming, shelter, and breeder channels versus direct marketing * Customer acquisition cost trends as Trupanion adds lower-cost partnership channels * New distribution partnerships across breeders, shelters, and adoption platforms * Pet insurance category growth in the U.S. and Canada, where Trupanion leads the market Trupanion has not disclosed financial terms, projected enrollment volumes, or revenue expectations tied to the Home To Home partnership.