Trupanion (TRUP) Operating Expenses (2013 - 2026)
Trupanion's Operating Expenses came in at $58.76 million for Q2 2026, up 11.9% from $52.51 million a year earlier and up 3.6% from the prior quarter.
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Analysis
Trupanion (TRUP) Operating Expenses (2013 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Trupanion reported Operating Expenses of $227.56 million, up 11.0% year-over-year; for FY2025, it came in at $216.87 million, up 15.3% from FY2024.
- Operating Expenses has increased in each of the last nine years, with a five-year compound annual growth rate of 20.1% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $188.13 million in FY2024 (+9.7%), $171.46 million in FY2023 (+4.0%), $164.93 million in FY2022 (+18.3%) and $139.37 million in FY2021 (+60.7%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q2 2013.
- Year-over-year, Operating Expenses has increased for nine consecutive quarters, with growth averaging 17.3% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q3 2021 (growth of 54.5%), and the weakest in Q1 2024 (a decline of 16.7%).
- Business Quant data shows TRUP's Operating Expenses at $56.71 million (Q1 2026), $57.89 million (Q4 2025) and $54.2 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,248.67 Bn | -185.49 Bn | 56.71 Bn | 91.43 Bn |
| 2 | Chubb | 141.22 Bn | 92.15 Bn | 8.67 Bn | 12.79 Bn |
| 3 | Progressive | 134.26 Bn | 109.78 Bn | 8.29 Bn | 19.96 Bn |
| 4 | Marsh & Mclennan Companies | 98.32 Bn | 90.72 Bn | - | 5.65 Bn |
| 5 | Travelers Companies | 82.09 Bn | 59.57 Bn | 5.93 Bn | 10.04 Bn |
| 6 | Manulife Financial | 75.36 Bn | -19.02 Bn | - | 899.35 Mn |
| 7 | Arthur J. Gallagher | 72.54 Bn | 67.17 Bn | 3.33 Bn | 3.46 Bn |
| 8 | Aon | 71.33 Bn | 50.56 Bn | - | 3.29 Bn |
| 9 | Allstate | 65.04 Bn | 22.10 Bn | -9.85 Bn | 14.73 Bn |
| 10 | Trupanion | 1.48 Bn | -67.48 Mn | 69.50 Mn | 59.96 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 59.96 Mn |
| Jun 30, 2026 | 58.76 Mn |
| Mar 31, 2026 | 56.71 Mn |
| Dec 31, 2025 | 57.89 Mn |
| Sep 30, 2025 | 54.20 Mn |
| Jun 30, 2025 | 52.51 Mn |
| Mar 31, 2025 | 52.27 Mn |
| Dec 31, 2024 | 52.58 Mn |
| Sep 30, 2024 | 47.60 Mn |
| Jun 30, 2024 | 45.69 Mn |
| Mar 31, 2024 | 42.26 Mn |
| Dec 31, 2023 | 39.58 Mn |
| Sep 30, 2023 | 38.73 Mn |
| Jun 30, 2023 | 42.39 Mn |
| Mar 31, 2023 | 50.76 Mn |
| Dec 31, 2022 | 42.78 Mn |
| Sep 30, 2022 | 41.90 Mn |
| Jun 30, 2022 | 41.31 Mn |
| Mar 31, 2022 | 38.94 Mn |
| Dec 31, 2021 | 36.28 Mn |
API Access
Trupanion Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=TRUP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "TRUP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=TRUP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();