TRUP Trupanion, Inc.

bullish · high conviction track record → $27.91 -0.97 (-3.4%)
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Mkt Cap $1B P/E 64.2 fwd 6.8 52wk $24.15 - $57.88 Earnings 2026-04-30 45d ago
Insider selling: $7,921,617 sold by 21 insiders (30d)
Est. revisions: +6.0% (1 up, 0 down in 30d)
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net +1.9)

Factor Model

net +1.9 3.7 / 10
Est. Revisions
+0.4
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
+1.0
Narrative Gap
+0.0

Pet insurance exits losses, targets $1.58B in revenue

Watch: Watch Q1 2026 results for proof that profitability sticks in an inflationary environment and veterinary cost trends don't reverse gains. Pet healthcare inflation has been a headwind industry-wide — if claims inflation accelerates, margin expansion could stall. Also monitor retention rates and cohort economics as the company scales to confirm unit economics don't deteriorate.

Trupanion crossed a major inflection point in 2025: subscription revenue hit $1B for the first time while net income swung to $19.4M profitability after a $9.6M loss in 2024. Total revenue climbed 12% to $1.4B, driven by subscription-adjusted operating margin expanding to 15% — a 33% jump in adjusted operating income. Q4 subscribed pets grew 5% to 1.1M with per-pet economics holding steady. Management's 2026 guidance of $1.55–$1.58B revenue signals confidence the profitability story is locked in, not a one-off.

Trupanion has proven the pet insurance model scales profitably at B2C scale. The shift from losses to double-digit adjusted margins while growing the subscriber base 5% demonstrates pricing power and efficient customer acquisition. This is the inflection moment — the market had been pricing in perpetual losses. Now the question shifts from "can they be profitable?" to "how much margin can they sustain at higher scale?" The 2026 guidance implies confidence in protecting margins even as revenue grows 10%+ more.

Evidence

Fundamentals & Data ▾
Trupanion, Inc. Financial Services · Insurance - Property & Casualty
Mkt Cap
$1B
P/E
64.2 fwd 6.8
Beta
1.66
52w Range
$24.15 - $57.88
Short Interest
3.5M 9.79%
Days to Cover
8.7 -10%
Technicals downtrend
from 52w Hi
-3.4%
1w return
+6.3%
Insiders
selling 0B / 6S
Analysts
mixed
EPS Estimate
$0.88 +6.0% 30d 1up / 0dn
Est. Dispersion
0% 1 analysts
Analyst Target
$42 $31 - $59
Options P/C
1.07
Insider Cluster
strong sell 0B / 6S
Fund Convergence
strong Citadel, D.E. Shaw, Two Sigma, Bridgewater, Renaissance
Financials
Revenue
$377M +12% YoY
FCF
$25M
Gross Margin
17%
Op Margin
8%
Momentum: decelerating
Top Holders
Citadel $14M
D.E. Shaw $9M
Two Sigma $3M
Bridgewater
Renaissance
Recent Filings & Data
insider trade 124
net selling · $7,921,617 sold
21 insiders · 124 transactions (30d)
Recent transactions
QURESHI FAWWAD · other
DREYER EMILY · sell · $219,320
GALLAGHER JOHN R · sell · $140,080
QURESHI FAWWAD · sell · $75,075
BEARMAN ASHER · other
WEINRAUCH STEVE A · sell · $2,270
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
DREYER EMILY · other
GALLAGHER JOHN R · other
MCGIBNEY BRENNA · other
WHEELER SIMON · other
QURESHI FAWWAD · sell · $118,958
QURESHI FAWWAD · other
POWELL BRADLEY S · other
BEARMAN ASHER · other
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
RUBIN HOWARD · other
TOOTH MARGARET R · other
DREYER EMILY · other
GALLAGHER JOHN R · other
MCGIBNEY BRENNA · other
WHEELER SIMON · other
QURESHI FAWWAD · other
GALLAGHER JOHN R · sell · $13,618
LOW MURRAY B · exercise · $198,935
GALLAGHER JOHN R · sell · $16,146
TOOTH MARGARET R · sell · $363,850
TOOTH MARGARET R · exercise · $71,440
GALLAGHER JOHN R · sell · $222,283
QURESHI FAWWAD · sell · $219,837
TOOTH MARGARET R · sell · $346,144
TOOTH MARGARET R · exercise · $71,440
MCGIBNEY BRENNA · other
WHEELER SIMON · other
POWELL BRADLEY S · other
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
DREYER EMILY · other
GALLAGHER JOHN R · other
MCGIBNEY BRENNA · other
WHEELER SIMON · other
QURESHI FAWWAD · other
RAWLINGS DARRYL G · exercise · $29,900
TOOTH MARGARET R · sell · $388,493
TOOTH MARGARET R · exercise · $53,580
TOOTH MARGARET R · sell · $375,318
RAWLINGS DARRYL G · sell · $2,236,726
QURESHI FAWWAD · sell · $291,294
QURESHI FAWWAD · sell · $127,574
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
DREYER EMILY · other
GALLAGHER JOHN R · other
RUBIN HOWARD · other
TOOTH MARGARET R · other
GALLAGHER JOHN R · other
TOOTH MARGARET R · sell · $9,714
TOOTH MARGARET R · exercise · $1,556
MCGIBNEY BRENNA · sell · $107,956
GALLAGHER JOHN R · sell · $191,600
QURESHI FAWWAD · sell · $122,406
QURESHI FAWWAD · sell · $37,699
MCGIBNEY BRENNA · other
WHEELER SIMON · other
TOOTH MARGARET R · other
WHEELER SIMON · other
TOOTH MARGARET R · sell · $183,434
TOOTH MARGARET R · exercise · $35,720
MCGIBNEY BRENNA · sell · $110,906
RUBIN HOWARD · other
TOOTH MARGARET R · sell · $133,373
TOOTH MARGARET R · sell · $148,700
DREYER EMILY · sell · $454,590
DREYER EMILY · exercise · $172,872
GALLAGHER JOHN R · sell · $102,280
MCGIBNEY BRENNA · sell · $164,926
TOOTH MARGARET R · sell · $72,009
QURESHI FAWWAD · sell · $81,864
TOOTH MARGARET R · other
QURESHI FAWWAD · sell · $46,977
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
DREYER EMILY · other
GALLAGHER JOHN R · other
WASDIN JASON · other
HEWITT MELISSA JOY · other
WEINRAUCH STEVE A · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
KEARNS CHRISTOPHER · other
DREYER EMILY · other
GALLAGHER JOHN R · other
WASDIN JASON · other
MCGIBNEY BRENNA · other
HEWITT MELISSA JOY · other
WHEELER SIMON · other
QURESHI FAWWAD · other
RUBIN HOWARD · other
LOW MURRAY B · sell · $9,600
MCLAUGHLIN ELIZABETH · other
BRODEN MAX · other
DAVIDSON JACQUELINE L. · other
DODSON PAULETTE R. J.D. · other
QURESHI FAWWAD · sell · $523,789
QURESHI FAWWAD · sell · $32,723
WEINRAUCH STEVE A · other
WORRA TRAVIS · other
DREYER EMILY · sell · $219,133
DREYER EMILY · other
RAWLINGS DARRYL G · other
TOOTH MARGARET R · other
GALLAGHER JOHN R · other
WASDIN JASON · other
RAVAL KALPESH · other
GALLAGHER JOHN R · sell · $10,952
MCGIBNEY BRENNA · other
HEWITT MELISSA JOY · other
WHEELER SIMON · other
3 signals · latest 7d ago

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