Filing Flows › Trupanion (TRUP) › How it makes money
How Trupanion (TRUP) makes money
Trupanion (TRUP) made $406M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Subscription business brought in $288M (71%); Other Segments brought in $118M (29%). Of every dollar of revenue, 2¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Subscription business | $288M | 71.0% | +4% | +14% |
| Other Segments | $118M | 29.0% | +1% | +3% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $406M | 100.0% |
| Operating profit | $9.5M | 2.4% |
| Income tax | $964K | 0.2% |
| Net earnings | $9.3M | 2.3% |
| Operating cash flow | $30.7M | 7.6% |
| Free cash flow | $28.5M | 7.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $406M | +10% |
| Q2 2026 | $393M | +11% |
| Q1 2026 | $384M | +12% |
| Q4 2025 | $377M | +12% |
| Q3 2025 | $367M | +12% |
| Q2 2025 | $354M | +12% |
| Q1 2025 | $342M | +12% |
From Trupanion's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Trupanion make money?
Trupanion (TRUP) made $406M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Subscription business brought in $288M (71%); Other Segments brought in $118M (29%). Of every dollar of revenue, 2¢ was left as operating profit, 2¢ was left as net earnings.
What is Trupanion's biggest business?
Subscription business: $288M in the third quarter 2026, 71% of revenue, +14% from a year earlier.
What is Trupanion's profit margin?
Net earnings were $9.3M, 2.3% of revenue, in the third quarter 2026; the operating margin was 2.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.