Filing Flows › Trupanion (TRUP) › Q1 2026
Trupanion (TRUP) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Trupanion (TRUP) reported revenue of $384M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +2% from the quarter before. Operating margin was 1.2%, net earnings $4.9M (1.3% of revenue).
Trupanion, Q1 2026: revenue $384M (+12% year over year), operating margin 1.2%, net earnings $4.9M, operating cash flow $14.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $384M | +2% | +12% |
| Operating profit | $4.8M | -33% | — |
| Net earnings | $4.9M | -13% | — |
| Operating cash flow | $14.6M | -50% | -9% |
| Free cash flow | $13.7M | — | -2% |
What changed
Revenue was $384.0M in Q1 2026, up 12% year over year and up 2% from the previous quarter. Subscription business was the largest line at 70% of revenue. Subscription business added $36.4M year over year (up 16%), 86% of the total change.
Operating profit was $4.8M, a 1.2% margin (up 1.7 points year over year). Total costs grew 10% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $4.9M. The effective tax rate was 18.1%.
Operating cash flow was $14.6M (down 9% year over year), 299% of net earnings. Non-cash charges added back $3.7M of depreciation and amortization and $9.0M of share-based compensation. Working capital and other items used $3.0M. After purchases of property, equipment, and internal-use software ($847K), free cash flow as the company reports it was $13.7M.
Questions
What was Trupanion's revenue in the first quarter 2026?
Trupanion (TRUP) reported revenue of $384M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +2% from the quarter before.
Was Trupanion profitable in the first quarter 2026?
Operating profit was $4.8M (1.2% of revenue) and net earnings $4.9M.
Source: Trupanion 10-Q on SEC EDGAR.