Trupanion, Inc.
NASDAQ:TRUP · NASDAQ Global Market
+$0.05 today
Vol 0.48M · Avg 0.39M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:TRUP · Revenue to Net Income
Key Ratios
Analysis
$1.5B of revenue converted into $25.8M of net income for the selected period. Gross margin is 22.2% and net margin is 1.8%, showing how much revenue survives after costs and taxes. EPS is $0.59, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B +11.9% | $1.3B +16.0% | $1.1B +22.5% | $905.2M +29.5% | $699.0M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $1.0B -7.0% | $1.1B +13.2% | $977.6M +24.9% | $783.0M +31.7% | $594.6M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $410.3M +129.5% | $178.8M +36.5% | $131.0M +7.2% | $122.2M +17.1% | $104.3M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 28.5% +14.6pp | 13.9% +2.1pp | 11.8% -1.7pp | 13.5% -1.4pp | 14.9% | 9.8% | 28.9% | 38.3% |
| Research & Development | $37.8M +21.1% | $31.3M +46.0% | $21.4M -14.8% | $25.1M +49.0% | $16.9M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $162.1M +154.3% | $63.7M +5.9% | $60.2M +52.9% | $39.4M +23.5% | $31.9M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $388.3M +106.2% | $188.3M +9.7% | $171.7M +3.9% | $165.2M +18.4% | $139.5M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $15.8M -3.8% | $16.5M +32.0% | $12.5M +14.2% | $10.9M -8.7% | $12.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $51.6M +141.9% | $21.3M +204.1% | -$20.5M +29.4% | -$29.0M -24.8% | -$23.2M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 3.6% +1.9pp | 1.7% +3.5pp | -1.8% +1.4pp | -3.2% +0.1pp | -3.3% | 5.6% | 46.3% | 42.0% |
| Operating Income | $22.0M +331.2% | -$9.5M +76.6% | -$40.7M +5.4% | -$43.0M -22.2% | -$35.2M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 1.5% +2.3pp | -0.7% +2.9pp | -3.7% +1.1pp | -4.8% +0.3pp | -5.0% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 -100.0% | $12.4M +37.8% | $9.0M +200.0% | $3.0M | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $13.8M -5.1% | $14.5M +20.0% | $12.1M +183.0% | $4.3M +42570.0% | $10.0K | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $0 +100.0% | -$124.0K +97.2% | -$4.4M -266.2% | -$1.2M -4879.2% | -$24.0K | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $22.0M +328.2% | -$9.6M +78.6% | -$45.0M -1.9% | -$44.2M -25.5% | -$35.2M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 1.5% +2.3pp | -0.7% +3.3pp | -4.1% +0.8pp | -4.9% +0.2pp | -5.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $2.6M +51320.0% | -$5.0K +98.5% | -$342.0K -171.8% | $476.0K +53.5% | $310.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | $19.4M +301.7% | -$9.6M +78.4% | -$44.7M -0.0% | -$44.7M -25.7% | -$35.5M | $4.9B | $4.8B | $4.7B |
| Net Margin | 1.4% +2.1pp | -0.7% +3.3pp | -4.0% +0.9pp | -4.9% +0.1pp | -5.1% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $0 +295.7% | -$0 +78.7% | -$1 +1.8% | -$1 -23.6% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $0 +295.7% | -$0 +78.7% | -$1 +1.8% | -$1 -23.6% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $43.0M +1.9% | $42.2M +1.7% | $41.4M +1.6% | $40.8M +1.6% | $40.1M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $43.6M +3.3% | $42.2M +1.7% | $41.4M +1.6% | $40.8M +1.6% | $40.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Northwest Bancshares, Inc.
NASDAQ:NWBI
$2.11B
Federal Agricultural Mortgage Corporation
NYSE:AGM
$2.02B
Stewart Information Services Corporation
NYSE:STC
$2.01B
Qfin Holdings, Inc.
NASDAQ:QFIN
$2.00B
Horace Mann Educators Corporation
NYSE:HMN
$1.97B
OFG Bancorp
NYSE:OFG
$1.97B
Slide Insurance Holdings, Inc. Common Stock
NASDAQ:SLDE
$1.89B
Tri-Continental Corporation
NYSE:TY
$1.85B
The Baldwin Insurance Group, Inc.
NASDAQ:BWIN
$1.29B
Perella Weinberg Partners
NASDAQ:PWP
$1.05B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does TRUP generate?
Trupanion, Inc. (TRUP) reported $1.44B of revenue in fiscal 2025.
Is TRUP profitable?
Trupanion, Inc. (TRUP) reported $19.43M of net income, with a net margin of 1.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.