35.50
-3.40%
Close of 9 Nov 2026, in USD
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About Trupanion
From its filings with the US Securities and Exchange Commission
Trupanion is based in Seattle, Washington and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker TRUP. The SEC classifies its business as hospital & medical service plans. In the fiscal year to 31 December 2025, it reported revenue of $1.44bn. At that date it held total assets of $915.0m and shareholders' equity of $383.9m. By business, Subscription business [Member] brought in 68.7% of revenue, followed by Other Operating Segment [Member] at 31.3%.
We provide medical insurance for cats and dogs in the United States, Canada, and certain countries in Continental Europe. Through our data-driven, vertically-integrated approach, we develop and offer high-value medical insurance products, priced to take into account each pet’s unique characteristics and coverage level. Our growing and loyal membership base provides us with highly predictable and recurring revenue.
Our other business segment generates revenue from other product offerings, primarily by underwriting policies on behalf of third parties with whom we generally have a business-to-business relationship. This business segment has, and targets, a significantly lower margin profile than our subscription business segment and is not part of our core business strategy. The largest source of revenue within this segment is from our long-standing contractual relationship as an underwriter for Pets Best Insurance Services ("Pets Best"), a third-party insurance provider we have worked with since 2015. We expect that enrollment from Pets Best will continue to decline as it engages other third-party underwriters. Additional products in this segment include the U.S. Department of Veterans Affairs program and employer-sponsored programs, primarily for companies with animal health related operations.
Quoted from its 10-K, filed 13 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Insurance
- Listed since
- 18 Jul 2014
- Employees
- 1,121
- Website
- trupanion.com ↗
- Head office
- 6100 4TH AVENUE SOUTH, SEATTLE, WA, 98108
- Incorporated in
- DE
- Classification
- Hospital & Medical Service Plans
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Darryl RawlingsChairman of the Board, since 2000$1.9m
- Ms. Margaret ToothPresident, Chief Executive Officer, Director, since 2015$4.4m
- Mr. Fawwad QureshiChief Financial Officer$976,213
- Mr. John GallagherChief Operating Officer$1.6m
- Dr. Steve WeinrauchExecutive Vice President - Veterinary and Product$599,625
- Mr. Simon WheelerExecutive Vice President - International Business
- Ms. Emily DreyerSenior Vice President - Channels Growth$2.4m
- Ms. Brenna McgibneyChief Administrative Officer$1.3m
- Dr. Murray LowLead Independent Director$200,000
- Mr. Max BrodenIndependent Director$172,510
- Ms. Jacqueline DavidsonIndependent Director$214,998
- Ms. Paulette DodsonIndependent Director$214,998
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 41
- Environment
- 13
- Social
- 57
- Governance
- 54
- Direct emissions (scope 1)
- 74 t
- Energy emissions (scope 2)
- 284 t
- Women in the workforce
- 73%
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Trupanion Inc has built a strong brand and reputation in the pet insurance industry.
- The company has a unique business model focusing solely on pet insurance, allowing them to specialize and offer tailored services.
- Trupanion's extensive network of veterinary partners enables it to provide seamless and convenient service to policyholders.
Weaknesses
- Trupanion Inc's premium pricing for its pet insurance policies may deter price-sensitive customers.
- The company heavily relies on veterinarians to promote its insurance products, which limits direct consumer reach and potentially slows customer acquisition.
- Trupanion's geographic coverage is primarily limited to North America, limiting its global market potential.
Opportunities
- The pet insurance market is growing as more pet owners recognize the importance of financial protection for their pets' healthcare needs.
- Trupanion Inc can expand its offerings to include additional pet-related services, such as telehealth consultations or preventive care packages, to attract a broader customer base.
- Entering international markets could present significant growth opportunities for Trupanion, given the rising pet ownership rates across the globe.
Threats
- Increased competition from other pet insurance providers may pose a threat to Trupanion's market share.
- Changes in government regulations or legislation related to the insurance industry could impact Trupanion's operations and profitability.
- Economic downturns may lead to reduced discretionary spending by pet owners, potentially affecting the demand for pet insurance products.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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