Trupanion Inc. (TRUP)
NASDAQ:TRUP
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Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.11Last Year’s EPS
0.22Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Q1 2026
Earnings Call Date:Apr 30, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call conveyed strong financial and operational momentum led by record per-pet economics, meaningful AOI and margin expansion, disciplined reinvestment of earnings into growth initiatives, and a solid balance sheet. Management acknowledged some challenges — higher acquisition costs, deceleration in a partner-driven segment, industry headwinds in vet visits and adoption, and an adverse reserve development — but emphasized improved efficiency (automation), encouraging early results from product expansion, and reiterated full-year guidance. Overall the positives (AOI growth, revenue beat, margin expansion, LTV improvement, net income recovery, and healthy cash/debt position) materially outweigh the lowlights, with management presenting a plan to invest AOI into scalable growth and product innovation.Company Guidance
Strong Adjusted Operating Income Growth
Total adjusted operating income (AOI) of $40.2M in Q1, up 29% year over year; subscription AOI of $38.4M (96% of total AOI), up 28% YoY. Company reiterates full-year AOI target range of $173M–$187M (≈19% YoY growth at midpoint).
Revenue and Subscription Momentum
Total revenue of $384M, up 12% YoY; subscription revenue of $269.5M, up 16% YoY and above the high end of expectations. Subscription pets reached 1.106M, up 5% YoY.
Per-Pet Economics and LTV Expansion
Total monthly average revenue per pet of $85.79, up 11% YoY. Management reports a record lifetime value per pet, up 29% YoY, supporting higher investment capacity for growth.
Margin Expansion and Loss Ratio Improvement
Subscription adjusted operating margin reached 14.2% (highest Q1 margin in company history), up from 12.9% YoY (~130 basis points expansion). Cost of paying veterinary invoices resulted in a value proposition (loss ratio) of 70.8% vs. 71.8% prior-year period (improvement despite a $3.1M adverse development ~120 bps of subscription revenue).
Cost Efficiency Gains
Fixed expenses as a percentage of revenue improved to 5.8% from 6.2% YoY; combined fixed and variable spending improved to 14.9% of revenue from 15.3% YoY, reflecting operating leverage.
Customer Retention and Growth Investment
Trailing twelve-month average monthly retention at 98.35% (up modestly from 98.28% YoY). Company deployed $21.2M of AOI to acquire ~64,700 subscription pets in Q1, with continued focus on disciplined acquisition funded by AOI.
Improved Profitability and Cash Position
Net income of $4.9M (vs. net loss of $1.5M prior year), marking the fourth consecutive quarter of positive net income. Free cash flow of $13.7M was roughly in line with last year; cash and short-term investments of $383.7M and total debt reduced to $109.3M (down $19.5M YoY).
Product and Operational Innovation
Early rollout of expanded coverage levels (higher deductibles / varying coinsurance) in Canada and select U.S. states with encouraging web conversion and selection behavior. Announced a new digital-first product to launch later this year. Automation rate improved to 62% from 56% YoY, aiding claims efficiency.
TRUP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TRUP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $23.99 | $24.33 | +1.42% |
Feb 12, 2026 | $32.14 | $27.96 | -13.01% |
Nov 06, 2025 | $42.09 | $38.58 | -8.34% |
Aug 07, 2025 | $48.75 | $48.81 | +0.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Trupanion Inc. (TRUP) report earnings?
Trupanion Inc. (TRUP) is schdueled to report earning on Aug 06, 2026, After Close (Confirmed).
What is Trupanion Inc. (TRUP) earnings time?
Trupanion Inc. (TRUP) earnings time is at Aug 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TRUP EPS forecast?
TRUP EPS forecast for the fiscal quarter 2026 (Q2) is 0.11.