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Side-by-side financial comparison of H2O AMERICA (HTO) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
TRUPANION, INC. is the larger business by last-quarter revenue ($376.9M vs $199.4M, roughly 1.9× H2O AMERICA). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 11.0%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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).
HTO vs TRUP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $376.9M |
| Net Profit | $16.2M | — |
| Gross Margin | — | 17.3% |
| Operating Margin | 16.6% | 1.9% |
| Net Margin | 8.1% | — |
| Revenue YoY | 1.5% | 11.7% |
| Net Profit YoY | -29.2% | — |
| EPS (diluted) | $0.45 | $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 | $199.4M | $376.9M | ||
| Q3 25 | $243.5M | $366.9M | ||
| Q2 25 | $197.8M | $353.6M | ||
| Q1 25 | $164.9M | $342.0M | ||
| Q4 24 | $196.5M | $337.3M | ||
| Q3 24 | $216.7M | $327.5M | ||
| Q2 24 | $173.1M | $314.8M | ||
| Q1 24 | $150.0M | $306.1M |
| Q4 25 | $16.2M | — | ||
| Q3 25 | $45.1M | — | ||
| Q2 25 | $24.7M | — | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $22.9M | — | ||
| Q3 24 | $38.7M | — | ||
| Q2 24 | $20.7M | — | ||
| Q1 24 | $11.7M | — |
| 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 | 16.6% | 1.9% | ||
| Q3 25 | 26.5% | 1.6% | ||
| Q2 25 | 22.2% | 0.7% | ||
| Q1 25 | 21.8% | -0.4% | ||
| Q4 24 | 22.2% | 0.1% | ||
| Q3 24 | 26.9% | 0.5% | ||
| Q2 24 | 23.4% | -1.7% | ||
| Q1 24 | 18.6% | -2.0% |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 18.5% | — | ||
| Q2 25 | 12.5% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | 12.0% | — | ||
| Q1 24 | 7.8% | — |
| Q4 25 | $0.45 | $0.13 | ||
| Q3 25 | $1.27 | $0.13 | ||
| Q2 25 | $0.71 | $0.22 | ||
| Q1 25 | $0.49 | $-0.03 | ||
| Q4 24 | $0.70 | $0.04 | ||
| Q3 24 | $1.17 | $0.03 | ||
| Q2 24 | $0.64 | $-0.14 | ||
| Q1 24 | $0.36 | $-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 | $20.7M | $370.7M |
| Total DebtLower is stronger | $1.9B | $101.8M |
| Stockholders' EquityBook value | $1.5B | $383.9M |
| Total Assets | $5.1B | $915.0M |
| Debt / EquityLower = less leverage | 1.23× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $370.7M | ||
| Q3 25 | $11.3M | $348.5M | ||
| Q2 25 | $19.8M | $319.6M | ||
| Q1 25 | $23.7M | $321.8M | ||
| Q4 24 | $11.1M | $307.4M | ||
| Q3 24 | $4.0M | $293.1M | ||
| Q2 24 | $22.8M | $277.2M | ||
| Q1 24 | $4.5M | $275.2M |
| Q4 25 | $1.9B | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $383.9M | ||
| Q3 25 | $1.5B | $368.6M | ||
| Q2 25 | $1.5B | $355.5M | ||
| Q1 25 | $1.4B | $333.7M | ||
| Q4 24 | $1.4B | $323.3M | ||
| Q3 24 | $1.3B | $320.2M | ||
| Q2 24 | $1.3B | $305.8M | ||
| Q1 24 | $1.2B | $303.4M |
| Q4 25 | $5.1B | $915.0M | ||
| Q3 25 | $5.0B | $880.2M | ||
| Q2 25 | $4.8B | $847.8M | ||
| Q1 25 | $4.7B | $837.2M | ||
| Q4 24 | $4.7B | $806.9M | ||
| Q3 24 | $4.6B | $816.1M | ||
| Q2 24 | $4.4B | $795.9M | ||
| Q1 24 | $4.4B | $789.5M |
| Q4 25 | 1.23× | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | 0.39× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $63.5M | $29.3M |
| Free Cash FlowOCF − Capex | — | $25.3M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $29.3M | ||
| Q3 25 | $77.3M | $29.2M | ||
| Q2 25 | $60.8M | $15.0M | ||
| Q1 25 | $43.2M | $16.0M | ||
| Q4 24 | $41.5M | $23.7M | ||
| Q3 24 | $53.5M | $15.3M | ||
| Q2 24 | $49.3M | $6.9M | ||
| Q1 24 | $51.2M | $2.4M |
| Q4 25 | — | $25.3M | ||
| Q3 25 | — | $23.9M | ||
| Q2 25 | — | $12.0M | ||
| Q1 25 | — | $14.0M | ||
| Q4 24 | — | $21.8M | ||
| Q3 24 | — | $13.4M | ||
| Q2 24 | — | $4.0M | ||
| Q1 24 | — | $-631.0K |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | -0.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
