Trupanion (NASDAQ:TRUP) reported higher second-quarter revenue and adjusted operating income as the pet insurer benefited from increased subscription revenue, improved enrollment conversion and stable retention. Subscription revenue increased 14% to $276.7 million, while revenue from the company’s other business segment rose 4% to $116.2 million. Variable expenses declined to 9% of subscription revenue from 9.1%, while fixed expenses fell to 5.8% from 6%. Outlook narrowed for 2026For the full year, Trupanion now expects total revenue of $1.584 billion to $1.601 billion. For the third quarter, Trupanion expects total revenue of $399 million to $405 million, subscription revenue of $284 million to $287 million, and total adjusted operating income of $44 million to $47 million.