HIGHBuilt-inProduct / Revenue mix
69%
subscription business segment
“10-K Item 1A: 'For the year ended December 31, 2025, we generated approximately 69% of our revenue from our subscription business segment.'”
TRUP · Concentration risk · 10-K extracted
Trupanion (TRUP) concentration risks
Updated
The most significant concentration Trupanion discloses is subscription business segment at 69%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Trupanion’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Trupanion's disclosed concentration is centered on its core business line: for the year ended December 31, 2025, the company generated approximately 69% of its revenue from its subscription business segment, a share the filing discloses at a high level and characterizes as structural. This is not a customer- or counterparty-specific dependency — it reflects how Trupanion's revenue is fundamentally built, with the subscription segment functioning as the primary engine of the business rather than one channel among several of comparable size. Because this exposure is structural, it is best read as a description of Trupanion's business model rather than a risk that could reverse quickly: the company is, by design, a subscription-driven pet insurance business, and the 69% figure simply quantifies how dominant that segment is within total revenue. With only this single disclosed exposure, and no offsetting customer, geographic, or supplier concentration flagged in the filing, Trupanion's concentration profile is straightforward — a high share of revenue tied to one segment that also happens to be the core of the company's value proposition, meaning the exposure and the business thesis are effectively the same thing.
For the engine’s reasoning on TRUP’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Insurance - Property & Casualty
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASIC | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| TRUP● | Trupanion, Inc. | 1 | 0 | 0 | 1 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.