TRUP

EX-99.1

2 ex991q32026.htm

EX-99.1

Document

Exhibit 99.1

Trupanion Reports Third Quarter 2026 Results

SEATTLE, WA. November 5, 2026 -- Trupanion, Inc. (Nasdaq: TRUP), a leading provider of medical insurance for cats and dogs, today announced financial results for the third quarter ended September 30, 2026.

“Our third-quarter results were strong, with record cash flow and increased profitability, the seventh consecutive quarter of improvement in retention, and continued progress on our key strategic initiatives,” said Margi Tooth, Chief Executive Officer and President of Trupanion. “As our business continues to compound, we are investing with discipline in organic growth, and this quarter we also repurchased approximately $25 million of our stock. Both reflect our confidence in the long-term value we are building for pet parents and shareholders.”

Third Quarter 2026 Financial and Business Highlights

•Total revenue was $405.6 million, an increase of 11% compared to the third quarter of 2025.

•Subscription business revenue was $287.9 million, an increase of 14% compared to the third quarter of 2025.

•Subscription enrolled pets was 1,145,160 at September 30, 2026, an increase of 6% over September 30, 2025.

•Total enrolled pets (including pets from our other business segment) was 1,626,901 at September 30, 2026, a decrease of 2% over September 30, 2025.

•Net income was $9.3 million, or $0.21 per basic and diluted share, compared to net income of $5.9 million, or $0.14 per basic and $0.13 per diluted share, in the third quarter of 2025.

•Adjusted EBITDA was $20.8 million, compared to adjusted EBITDA of $19.6 million in the third quarter of 2025.

•Operating cash flow was $30.7 million and free cash flow was $28.5 million in the third quarter of 2026. This compared to operating cash flow of $29.2 million and free cash flow of $23.9 million in the third quarter of 2025.

First Nine Months 2026 Financial and Business Highlights

•Total revenue was $1,182.6 million, an increase of 11% compared to the first nine months of 2025.

•Subscription business revenue was $834.0 million, an increase of 15% compared to the first nine months of 2025.

•Net income was $21.0 million, or $0.48 per basic and diluted share, compared to net income of $13.8 million, or $0.32 per basic and diluted share, in the first nine months of 2025.

•Adjusted EBITDA was $57.9 million, compared to adjusted EBITDA of $48.4 million in the first nine months of 2025.

•Operating cash flow was $66.3 million and free cash flow was $61.4 million in the first nine months of 2026. This compared to operating cash flow of $60.2 million and free cash flow of $50.0 million in the first nine months of 2025.

•At September 30, 2026, the Company held $396.8 million in cash and short-term investments with an additional $3.5 million available under its credit facility. Following the $15.0 million repayment on the PNC revolving credit facility in October 2026, available capacity under its facility is $18.5 million.

Share Repurchase Program

In June, the Board authorized a share repurchase program, pursuant to which the Company may repurchase up to an aggregate of $100.0 million of its outstanding shares of common stock, with no expiration date. The Company is not obligated to repurchase any specific number or dollar amount of shares, and the timing and actual number of shares repurchased will depend on a variety of factors, including the Company’s compliance with the PNC credit facility, available cash, cash flow from operations, stock price, general economic, business and market conditions, and alternative investment opportunities.

During the third quarter of 2026, the Company repurchased approximately 0.8 million shares of TRUP common stock at an aggregate cost of approximately $25.0 million. As of September 30, 2026, approximately $75.0 million remained available for repurchases under the Company's share repurchase program.

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Conference Call

Trupanion’s management will host a conference call today to review its third quarter 2026 results. The call is scheduled to begin shortly after 1:30 p.m. PT/ 4:30 p.m. ET. A live webcast will be accessible through the Investor Relations section of Trupanion’s website at https://investors.trupanion.com/ and will be archived online for 3 months upon completion of the conference call. Participants can access the conference call by dialing 1-844-676-1342 (United States) or 1-412-634-6683 (International). A telephonic replay of the call will also be available after the completion of the call, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10211762.

About Trupanion

Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, and certain countries in Continental Europe with over 1,100,000 pets currently enrolled. For 26 years, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, n

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