What move does the options market price into Trupanion's report?

Implied ±12.8%, either direction.

How often does Trupanion move more than the options market prices?

4 of the last 8 reports moved at least as far as the implied move.

TRUPNasdaqHospital & Medical Service Plans

Trupanion, Inc. (TRUP) earnings date, market-implied expected move, and options open interest by expiry

30.12

Closed16:00 ET

Open30.50Volume330,652Mkt cap$1.3BP/E56.82EPS0.53

Day30.00 – 30.5023%52-wk21.16 – 46.9835%

TRUP

Trupanion, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±12.8%implied · report alone

8Q avg ±11.0%·×1.16·rich

26.2833.98

straddle ±13.1%

spot 30.13exp Nov 20ATM strike 30ATM straddle 4.65IV 81%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

after close · in 4 days

est.Q3 FY26

Calendar

Next report

Last report

+15.46%

vs ±13.0% implied · ×1.19

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

30.00%

of TRUP revenue · Pets Best Insurance Services ("Pets Best")

customerTRUP 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+0.86%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

200 managers

Top fund weight

0.03%

TRUP weight · IWM

N-PORTJun 30 '26

4 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Trupanion (TRUP) is expected to report on Nov 5 after close (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±12.9%
avg realized: ±11.0%

Oct 30 '24Oct 30 '24confirmed±14.2%▼−0.62%×0.04

Feb 19 '25Feb 19 '25confirmed±12.7%▼−25.49%×2.00

May 1 '25May 1 '25confirmed±14.8%▲+23.49%×1.58

Aug 7 '25Aug 7 '25confirmed±11.6%▲+0.12%×0.01

Q3 FY25Nov 6 '25confirmed±12.5%▼−8.34%×0.67

Feb 12 '26Feb 12 '26confirmed±11.4%▼−13.01%×1.14

Q1 FY26Apr 30 '26confirmed±12.9%▲+1.42%×0.11

Q2 FY26Aug 5 '26confirmed±13.0%▲+15.46%×1.19

quarterimplied−30%0+30%realized×

Q2 FY26±13.0%▲+15.46%×1.19

Q1 FY26±12.9%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 2 expiries · Oct 27 close

0.42OI · 2 expiries · Oct 27 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

4210%Nov 2019d1,0140%

1710%Feb 19110d0.121,4670%0.12

ExpiryPutsCallsP/C

Nov 2019d4210%1,0140%0.42

Feb 19110d1710%1,4670%0.12

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±13.1%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

1.74%as filednet margin · revenue +2.31% QoQ · +11.14% YoY

Revenue

$393M+2.31% QoQ

Gross profit

$65M+5.93% QoQ

16.58% margin

Operating income

$6M+33.50% QoQ

1.62% margin

Pre-tax income

$7M+23.79% QoQ

Net income

$7M+39.98% QoQ

1.74% margin

Cost of revenue

$328M+1.62% QoQ

Operating expenses

$59M+3.60% QoQ

Marketing $23M

SG&A $20M

R&D $13M

Other operating $4M

Tax

$542,000−49.63% QoQ

Other income

$997,000−15.51% QoQ

Revenue$393M+2.31%

Gross profit

$65M+5.93%

16.58% margin

Operating income

$6M+33.50%

1.62% margin

Pre-tax income

$7M+23.79%

Net income

$7M+39.98%

1.74% margin

Cost of revenue

$328M+1.62%

Operating expenses

$59M+3.60%

Marketing $23M

SG&A $20M

R&D $13M

Other income$997,000−15.51%

Tax$542,000−49.63%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

CPI ×1.43· ±3.7% vs ±2.6% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.7%3 of 10×1.43

FOMCrate decision±3.1%8 of 24×1.21

NFPjobs report±2.4%2 of 10×0.93

PPIproducer prices±2.3%3 of 10×0.90

PCEpersonal income & outlays±2.0%7 of 19×0.78

GDPgross domestic product±1.7%9 of 19×0.66

CPROFcorporate profits±1.4%8 of 12×0.53

Bar = avg |move| to ±4% · tick = ±2.6% avg day · ×base = |move| ÷ ±2.6% · min 6 releases

Earnings history

EPS 0.16 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.16	—
Q1 FY26	Apr 30 '26 · confirmed	0.11	—
Q3 FY25	Nov 6 '25 · confirmed	0.13	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod