Trupanion, Inc.

At June 30, 2025, the Company held $319.6 million in cash and short-term investments, including $53.3 million held outside the insurance entities, with an additional $15 million available under its credit facility.

SEC original ↗Trupanion, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

The preferred stock investment in the entity was redeemable and, therefore, was accounted for as an available-for-sale debt security and measured at fair value at each balance sheet date and as of the transaction date.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The Company estimates the fair value of long-term debt based upon rates currently available to the Company for debt with similar terms and remaining maturities.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Based upon the terms of the debt, the carrying amount of long-term debt approximated fair value at June 30, 2026.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Debt Prior Credit Facility On March 25, 2022 , the Company entered into a credit agreement with Piper Sandler Finance, LLC, acting as the administrative agent, that provided the Company with $ 150.0 million in credit (the "Prior Credit Facility").

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The Prior Credit Facility obligated the Company to repay 0.25 % of any then-outstanding Term Loans, together with accrued and unpaid interest, on a quarterly basis.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The second quarter was one of the strongest financial quarters in our history, marked by consistent top-line growth, robust margin expansion and strengthening retention, said Margi Tooth, Chief Executive Officer and President of Trupanion.

SEC original ↗Trupanion, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress.

SEC original ↗Trupanion, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Management uses this measure as a principal way of understanding the operating performance of its business exclusive of acquisition cost and new product exploration and development initiatives.

SEC original ↗Trupanion, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

We operate our subscription business segment similar to other subscription-based businesses, with a focus on achieving a target margin prior to our new pet acquisition expense and acquiring as many pets as possible at our targeted average estimated internal rate of return.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

This business segment has, and targets, a significantly lower margin profile than our subscription business segment and is not part of our core business strategy.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

These forward-looking statements are based upon the current expectations and beliefs of Trupanion s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

SEC original ↗Trupanion, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Legal Proceedings 42 Item 1A.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The words believe, may, will, potentially, estimate, target, continue, anticipate, intend, could, would, project, plan and expect, and similar expressions that convey uncertainty of future events or outcomes, are intended to identify forward-looking statements.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

These and other forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, without limitation, those discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission on February 13, 2026, in particular the risk factors discussed under the heading "Risk Factors" in Part I, Item 1A.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Commitments and Contingencies Legal Proceedings From time to time the Company is or may become subject to various legal proceedings arising in the ordinary course of business, including proceedings involving members, other entities or regulatory bodies.

SEC original ↗Trupanion, Inc. — 10-Q Quarterly report10-QAug 5, 2026