Trupanion (TRUP) Operating Margin (2013 - 2026)

Trupanion has reported Operating Margin for 14 years, with the latest figure at 1.24% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin rose 167.0% year-over-year to 1.24%; the trailing twelve-month figure through Mar 2026 stood at 1.36% (up 172.0% YoY), and the FY2025 full-year result was 0.96%, up 170.0% from the prior year.
• Operating Margin for Q1 2026 stood at 1.24%, down from 1.89% in the prior quarter.
• The five-year high for Operating Margin was 1.89% in Q4 2025, with the low at 9.55% in Q1 2023.
• Historically, Operating Margin has averaged 1.92% across 5 years, with a median of 1.22% in 2023.
• Annual changes were most pronounced in 2023 — Operating Margin plunged 513 bps — and 2024, when it surged 755 bps.
• Trupanion's Operating Margin stood at 3.75% in 2022, then surged by 104 bps to 0.14% in 2023, then dropped by 25 bps to 0.1% in 2024, then jumped by 1736 bps to 1.89% in 2025, then slumped by 34 bps to 1.24% in 2026.
• The last three Operating Margin figures came in at 1.24% (Q1 2026), 1.89% (Q4 2025), and 1.6% (Q3 2025), per Business Quant data.