Filing Flows › Trupanion (TRUP) › Q2 2026 › vs Q2 2025
Trupanion (TRUP) Q2 2026 vs Q2 2025 (year over year)
Trupanion's revenue rose $39.4M (+11%) from $354M in Q2 2025 to $393M in Q2 2026. The biggest changes: Subscription business +$34.5M (+14%); Other Segments +$4.8M (+4%). Operating margin 1.6% against 0.7% (+1.0 pts).
Trupanion, Q2 2026: revenue $393M (+11% year over year), operating margin 1.6%, net earnings $6.8M, operating cash flow $21.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 1.6% | 0.7% | +1.0 pts |
| Net margin | 1.7% | 2.7% | -0.9 pts |
| Free cash flow margin | 4.9% | 3.4% | +1.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Subscription business | $277M | $242M | $34.5M | +14% |
| Other Segments | $116M | $111M | $4.8M | +4% |
| Revenue | $393M | $354M | $39.4M | +11% |
| Operating profit | $6.4M | $2.3M | $4.1M | +176% |
| Costs & expenses | $387M | $351M | $35.3M | +10% |
| Pre-tax earnings | $7.4M | $10.5M | −$3.2M | -30% |
| Cost of revenue | $328M | $299M | $29.1M | +10% |
| Sales & marketing | $22.8M | $19.8M | $3.0M | +15% |
| General & admin | $19.5M | $20.1M | −$597K | -3% |
| Other operating costs | $16.4M | $12.5M | $3.9M | +31% |
| Net earnings | $6.8M | $9.4M | −$2.6M | -27% |
| Income tax | $542K | $1.1M | −$591K | -52% |
| Depreciation & amortization | $3.7M | $4.0M | −$289K | -7% |
| Share-based compensation | $10.0M | $9.5M | $513K | +5% |
| Working capital & other | $511K | −$7.8M | $8.3M | — |
| Operating cash flow | $21.0M | $15.0M | $6.0M | +40% |
| Free cash flow (company-reported) | $19.2M | $12.0M | $7.1M | +59% |
| Purchases of property, equipment, and internal-use software | $1.8M | $3.0M | −$1.2M | -39% |
Questions
How much did Trupanion's revenue grow year over year in Q2 2026?
Trupanion's revenue rose $39.4M (+11%) from $354M in Q2 2025 to $393M in Q2 2026.
What drove Trupanion's revenue change in Q2 2026?
Subscription business +$34.5M (+14%); Other Segments +$4.8M (+4%).