Trupanion Q2 revenue up 11% to $392.9M; net income $6.8M; authorizes $100M buyback

TRUPANION, INC.

Total revenue $392.9M (+11% YoY); subscription revenue $276.7M (+14%).
Net income $6.8M ($0.16 per share) vs $9.4M ($0.22) in Q2 2025; adjusted EBITDA $19.8M vs $16.6M.
Subscription enrolled pets up 5% to 1,124,548; total enrolled pets down 2% to 1,633,131.
Board authorized $100M share repurchase program, no expiration; $44M extraordinary dividend from subsidiary approved.
Operating cash flow $21.0M, free cash flow $19.2M; cash and investments $398.5M.

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