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Trupanion to end Pets Best relationship after 2028
Trupanion reported second-quarter 2026 net income of $6.8 million and revenue up 11% to $392.9 million.
Trupanion agreed with Pets Best to conclude their relationship following the third quarter of 2028, the company said alongside its second-quarter 2026 results.
In the quarter ended in August 5 disclosures, Trupanion posted net income of $6.8 million, or $0.16 per diluted share, marking its fifth consecutive quarter of GAAP profitability. Revenue rose 11% to $392.9 million, including subscription revenue up 14% to $276.7 million, as subscription pets totaled 1.125 million, including about 66,000 in Europe.
Trupanion also described operational and product initiatives, including AI investments aimed at simplifying operations and shifting employee time toward customer interactions. The company added about 18,800 net subscription pets, a 39% year-over-year increase, and said expanded deductible and coinsurance options increased lifetime value of newly enrolled pets by 25%, with about 50% of the rollout completed and further conversion improvements expected as deployment continues across North America.
On capital allocation, Trupanion authorized a $100 million share repurchase program after regulatory approval to upstream $44 million from its insurance subsidiary. The company said veterinary inflation remains at double-digit levels and that higher veterinary pricing continues to flow through premium increases, while its pet food manufacturing development is nearing completion but expected to be immaterial to revenue during its current strategic plan.