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Side-by-side financial comparison of Axos Financial, Inc. (AX) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
Axos Financial, Inc. is the larger business by last-quarter revenue ($385.1M vs $376.9M, roughly 1.0× TRUPANION, INC.). On growth, Axos Financial, Inc. posted the faster year-over-year revenue change (25.1% vs 11.7%). Axos Financial, Inc. produced more free cash flow last quarter ($85.4M vs $25.3M). Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (14.3% CAGR vs 11.0%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
AX vs TRUP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $385.1M | $376.9M |
| Net Profit | $128.4M | — |
| Gross Margin | — | 17.3% |
| Operating Margin | 45.6% | 1.9% |
| Net Margin | 33.3% | — |
| Revenue YoY | 25.1% | 11.7% |
| Net Profit YoY | 22.6% | — |
| EPS (diluted) | $2.22 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $385.1M | $376.9M | ||
| Q3 25 | $323.4M | $366.9M | ||
| Q2 25 | $321.4M | $353.6M | ||
| Q1 25 | $308.8M | $342.0M | ||
| Q4 24 | $307.9M | $337.3M | ||
| Q3 24 | $320.7M | $327.5M | ||
| Q2 24 | $290.9M | $314.8M | ||
| Q1 24 | $294.8M | $306.1M |
| Q4 25 | $128.4M | — | ||
| Q3 25 | $112.4M | — | ||
| Q2 25 | $110.7M | — | ||
| Q1 25 | $105.2M | — | ||
| Q4 24 | $104.7M | — | ||
| Q3 24 | $112.3M | — | ||
| Q2 24 | $104.9M | — | ||
| Q1 24 | $110.7M | — |
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 11.8% |
| Q4 25 | 45.6% | 1.9% | ||
| Q3 25 | 46.3% | 1.6% | ||
| Q2 25 | 48.5% | 0.7% | ||
| Q1 25 | 47.9% | -0.4% | ||
| Q4 24 | 48.8% | 0.1% | ||
| Q3 24 | 49.6% | 0.5% | ||
| Q2 24 | 49.6% | -1.7% | ||
| Q1 24 | 52.8% | -2.0% |
| Q4 25 | 33.3% | — | ||
| Q3 25 | 34.7% | — | ||
| Q2 25 | 34.4% | — | ||
| Q1 25 | 34.1% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 36.0% | — | ||
| Q1 24 | 37.6% | — |
| Q4 25 | $2.22 | $0.13 | ||
| Q3 25 | $1.94 | $0.13 | ||
| Q2 25 | $1.89 | $0.22 | ||
| Q1 25 | $1.81 | $-0.03 | ||
| Q4 24 | $1.80 | $0.04 | ||
| Q3 24 | $1.93 | $0.03 | ||
| Q2 24 | $1.75 | $-0.14 | ||
| Q1 24 | $1.91 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $2.9B | $383.9M |
| Total Assets | $28.2B | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $370.7M | ||
| Q3 25 | $2.6B | $348.5M | ||
| Q2 25 | $1.9B | $319.6M | ||
| Q1 25 | $2.0B | $321.8M | ||
| Q4 24 | $2.4B | $307.4M | ||
| Q3 24 | $2.6B | $293.1M | ||
| Q2 24 | $2.0B | $277.2M | ||
| Q1 24 | $2.1B | $275.2M |
| Q4 25 | — | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | $312.7M | — | ||
| Q1 25 | $377.4M | — | ||
| Q4 24 | $358.7M | $127.5M | ||
| Q3 24 | $313.5M | — | ||
| Q2 24 | $325.7M | — | ||
| Q1 24 | $330.4M | — |
| Q4 25 | $2.9B | $383.9M | ||
| Q3 25 | $2.8B | $368.6M | ||
| Q2 25 | $2.7B | $355.5M | ||
| Q1 25 | $2.6B | $333.7M | ||
| Q4 24 | $2.5B | $323.3M | ||
| Q3 24 | $2.4B | $320.2M | ||
| Q2 24 | $2.3B | $305.8M | ||
| Q1 24 | $2.2B | $303.4M |
| Q4 25 | $28.2B | $915.0M | ||
| Q3 25 | $27.4B | $880.2M | ||
| Q2 25 | $24.8B | $847.8M | ||
| Q1 25 | $24.0B | $837.2M | ||
| Q4 24 | $23.7B | $806.9M | ||
| Q3 24 | $23.6B | $816.1M | ||
| Q2 24 | $22.9B | $795.9M | ||
| Q1 24 | $22.6B | $789.5M |
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 0.14× | 0.39× | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.15× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $104.1M | $29.3M |
| Free Cash FlowOCF − Capex | $85.4M | $25.3M |
| FCF MarginFCF / Revenue | 22.2% | 6.7% |
| Capex IntensityCapex / Revenue | 4.9% | 1.0% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $695.9M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.1M | $29.3M | ||
| Q3 25 | $118.4M | $29.2M | ||
| Q2 25 | $490.3M | $15.0M | ||
| Q1 25 | $73.7M | $16.0M | ||
| Q4 24 | $162.5M | $23.7M | ||
| Q3 24 | $70.8M | $15.3M | ||
| Q2 24 | $305.5M | $6.9M | ||
| Q1 24 | $115.8M | $2.4M |
| Q4 25 | $85.4M | $25.3M | ||
| Q3 25 | $109.3M | $23.9M | ||
| Q2 25 | $436.1M | $12.0M | ||
| Q1 25 | $65.1M | $14.0M | ||
| Q4 24 | $156.4M | $21.8M | ||
| Q3 24 | $53.0M | $13.4M | ||
| Q2 24 | $269.5M | $4.0M | ||
| Q1 24 | $107.3M | $-631.0K |
| Q4 25 | 22.2% | 6.7% | ||
| Q3 25 | 33.8% | 6.5% | ||
| Q2 25 | 135.7% | 3.4% | ||
| Q1 25 | 21.1% | 4.1% | ||
| Q4 24 | 50.8% | 6.5% | ||
| Q3 24 | 16.5% | 4.1% | ||
| Q2 24 | 92.6% | 1.3% | ||
| Q1 24 | 36.4% | -0.2% |
| Q4 25 | 4.9% | 1.0% | ||
| Q3 25 | 2.8% | 1.4% | ||
| Q2 25 | 16.9% | 0.8% | ||
| Q1 25 | 2.8% | 0.6% | ||
| Q4 24 | 2.0% | 0.6% | ||
| Q3 24 | 5.5% | 0.6% | ||
| Q2 24 | 12.4% | 0.9% | ||
| Q1 24 | 2.9% | 1.0% |
| Q4 25 | 0.81× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 4.43× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | — | ||
| Q1 24 | 1.05× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
Segment breakdown not available.
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
