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Side-by-side financial comparison of EXELIXIS, INC. (EXEL) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
EXELIXIS, INC. is the larger business by last-quarter revenue ($598.7M vs $376.9M, roughly 1.6× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 5.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $25.3M). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% CAGR vs 11.0%).
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
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).
EXEL vs TRUP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $376.9M |
| Net Profit | $244.5M | — |
| Gross Margin | 95.6% | 17.3% |
| Operating Margin | 39.3% | 1.9% |
| Net Margin | 40.8% | — |
| Revenue YoY | 5.6% | 11.7% |
| Net Profit YoY | 74.8% | — |
| EPS (diluted) | $0.89 | $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.
| Q1 26 | $598.7M | — | ||
| Q4 25 | $597.8M | $376.9M | ||
| Q3 25 | $568.3M | $366.9M | ||
| Q2 25 | $555.4M | $353.6M | ||
| Q1 25 | $566.8M | $342.0M | ||
| Q4 24 | — | $337.3M | ||
| Q3 24 | $539.5M | $327.5M | ||
| Q2 24 | $637.2M | $314.8M |
| Q1 26 | $244.5M | — | ||
| Q4 25 | $193.6M | — | ||
| Q3 25 | $184.8M | — | ||
| Q2 25 | $159.6M | — | ||
| Q1 25 | $139.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.0M | — | ||
| Q2 24 | $226.1M | — |
| Q1 26 | 95.6% | — | ||
| Q4 25 | 96.9% | 17.3% | ||
| Q3 25 | 96.6% | 16.4% | ||
| Q2 25 | 96.5% | 15.5% | ||
| Q1 25 | 96.5% | 14.9% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | 96.8% | 15.1% | ||
| Q2 24 | 97.2% | 12.8% |
| Q1 26 | 39.3% | — | ||
| Q4 25 | 39.6% | 1.9% | ||
| Q3 25 | 37.6% | 1.6% | ||
| Q2 25 | 33.6% | 0.7% | ||
| Q1 25 | 28.8% | -0.4% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 25.2% | 0.5% | ||
| Q2 24 | 43.3% | -1.7% |
| Q1 26 | 40.8% | — | ||
| Q4 25 | 32.4% | — | ||
| Q3 25 | 32.5% | — | ||
| Q2 25 | 28.7% | — | ||
| Q1 25 | 24.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.9% | — | ||
| Q2 24 | 35.5% | — |
| Q1 26 | $0.89 | — | ||
| Q4 25 | $0.69 | $0.13 | ||
| Q3 25 | $0.65 | $0.13 | ||
| Q2 25 | $0.55 | $0.22 | ||
| Q1 25 | $0.47 | $-0.03 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | $0.40 | $0.03 | ||
| Q2 24 | $0.77 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $2.2B | $383.9M |
| Total Assets | $2.8B | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $988.5M | $370.7M | ||
| Q3 25 | $791.1M | $348.5M | ||
| Q2 25 | $1.0B | $319.6M | ||
| Q1 25 | $1.1B | $321.8M | ||
| Q4 24 | — | $307.4M | ||
| Q3 24 | $1.2B | $293.1M | ||
| Q2 24 | $1.0B | $277.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $383.9M | ||
| Q3 25 | $2.0B | $368.6M | ||
| Q2 25 | $2.1B | $355.5M | ||
| Q1 25 | $2.2B | $333.7M | ||
| Q4 24 | — | $323.3M | ||
| Q3 24 | $2.3B | $320.2M | ||
| Q2 24 | $2.1B | $305.8M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $915.0M | ||
| Q3 25 | $2.7B | $880.2M | ||
| Q2 25 | $2.8B | $847.8M | ||
| Q1 25 | $2.9B | $837.2M | ||
| Q4 24 | — | $806.9M | ||
| Q3 24 | $3.0B | $816.1M | ||
| Q2 24 | $2.8B | $795.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $333.5M | $29.3M |
| Free Cash FlowOCF − Capex | $332.4M | $25.3M |
| FCF MarginFCF / Revenue | 55.5% | 6.7% |
| Capex IntensityCapex / Revenue | 0.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $875.8M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $333.5M | — | ||
| Q4 25 | $290.3M | $29.3M | ||
| Q3 25 | $49.0M | $29.2M | ||
| Q2 25 | $211.4M | $15.0M | ||
| Q1 25 | $240.3M | $16.0M | ||
| Q4 24 | — | $23.7M | ||
| Q3 24 | $271.3M | $15.3M | ||
| Q2 24 | $119.5M | $6.9M |
| Q1 26 | $332.4M | — | ||
| Q4 25 | $288.8M | $25.3M | ||
| Q3 25 | $46.2M | $23.9M | ||
| Q2 25 | $208.5M | $12.0M | ||
| Q1 25 | $236.3M | $14.0M | ||
| Q4 24 | — | $21.8M | ||
| Q3 24 | $263.1M | $13.4M | ||
| Q2 24 | $113.0M | $4.0M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 48.3% | 6.7% | ||
| Q3 25 | 8.1% | 6.5% | ||
| Q2 25 | 37.5% | 3.4% | ||
| Q1 25 | 41.7% | 4.1% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 48.8% | 4.1% | ||
| Q2 24 | 17.7% | 1.3% |
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 1.0% | ||
| Q3 25 | 0.5% | 1.4% | ||
| Q2 25 | 0.5% | 0.8% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | 1.5% | 0.6% | ||
| Q2 24 | 1.0% | 0.9% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.72× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 0.53× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXEL
| Cabometyx | $544.7M | 91% |
| Collaboration | $52.1M | 9% |
| Collaborative Arrangementwith Takeda | $5.9M | 1% |
| Cometriq | $1.8M | 0% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
