PODD

MKT CAP:$13B

Insulet Corporation

Market Cap

$13B

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$193.62-$89.30 (-31.56%)

Apr 22, 2026

Company Details

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three...

CEO

Ashley A. McEvoy

IPO Date

May 15, 2007

Website

www.insulet.com

Key Metrics TTM

Revenue

$2.7B

+30.7% YoY

Net Income

$247M

EPS (Diluted)

$3.50

Free Cash Flow

$378M

Revenue / Share

$38.32

Gross Margin

71.6%

Operating Margin

17.5%

Net Margin

9.1%

FCF Margin

13.9%

P/S

4.9x

P/E

53.6x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 18, 2026

$2.7B+30.7%EPS $3.48

Q4 2025

Feb 18, 2026

$784M+31.2%EPS $1.44

Q3 2025

Nov 6, 2025

$706M+29.9%EPS $1.24

Q2 2025

Aug 7, 2025

$649M+32.9%EPS $0.32

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$295M	$210M	$38M
Q2 22	$299M	$190M	-$27M
Q3 22	$341M	$188M	$3M
Q4 22	$370M	$217M	$24M
Q1 23	$358M	$241M	$28M
Q2 23	$397M	$265M	$31M
Q3 23	$433M	$293M	$55M
Q4 23	$510M	$361M	$106M
Q1 24	$442M	$307M	$57M
Q2 24	$489M	$331M	$55M
Q3 24	$544M	$377M	$88M
Q4 24	$598M	$431M	$109M
Q1 25	$569M	$409M	$89M
Q2 25	$649M	$452M	$121M
Q3 25	$706M	$510M	$118M
Q4 25	$784M	$569M	$146M

Valuation

Quarter	P/S	P/E
Q1 22	11.6x	296.8x
Q2 22	11.2x	382.6x
Q3 22	10.6x	788.0x
Q4 22	10.1x	2877.8x
Q1 23	9.7x	22063.2x
Q2 23	9.0x	210.5x
Q3 23	8.5x	110.3x
Q4 23	7.8x	64.2x
Q1 24	7.4x	56.6x
Q2 24	7.1x	33.5x
Q3 24	6.7x	31.5x
Q4 24	6.4x	31.6x
Q1 25	6.0x	32.9x
Q2 25	5.6x	56.1x
Q3 25	5.2x	53.8x
Q4 25	4.9x	53.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$14M	-$30M
Q2 22	$25M	$6M
Q3 22	$57M	$23M
Q4 22	$51M	-$38M
Q1 23	$500.0K	-$37M
Q2 23	$44M	$26M
Q3 23	$56M	$34M
Q4 23	$45M	$47M
Q1 24	$88M	$64M
Q2 24	$87M	$64M
Q3 24	$99M	$72M
Q4 24	$148M	$92M
Q1 25	$64M	$52M
Q2 25	$197M	$173M
Q3 25	$126M	$105M
Q4 25	$183M	$48M

Capital Expenditures

Quarter	CapEx
Q1 22	$16M
Q2 22	$19M
Q3 22	$34M
Q4 22	$88M
Q1 23	$37M
Q2 23	$18M
Q3 23	$22M
Q4 23	$2M
Q1 24	$24M
Q2 24	$23M
Q3 24	$27M
Q4 24	$56M
Q1 25	$12M
Q2 25	$23M
Q3 25	$21M
Q4 25	$135M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+20.0%	+1.6%
Q2 22	+13.8%	+37.7%
Q3 22	+23.7%	+39.7%
Q4 22	+20.1%	+34.2%
Q1 23	+21.2%	+28.3%
Q2 23	+32.4%	+12.1%
Q3 23	+27.0%	+11.8%
Q4 23	+37.9%	+16.5%
Q1 24	+23.3%	+16.5%
Q2 24	+23.2%	+18.8%
Q3 24	+25.7%	+20.6%
Q4 24	+17.2%	+21.0%
Q1 25	+28.8%	+24.8%
Q2 25	+32.9%	+21.7%
Q3 25	+29.9%	+29.1%
Q4 25	+31.2%	+30.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$10M	3.2%
Q2 22	$11M	3.7%
Q3 22	$9M	2.6%
Q4 22	$11M	3.0%
Q1 23	$12M	3.4%
Q2 23	$13M	3.3%
Q3 23	$11M	2.4%
Q4 23	$13M	2.5%
Q1 24	$14M	3.2%
Q2 24	$17M	3.5%
Q3 24	$18M	3.3%
Q4 24	$20M	3.3%
Q1 25	$18M	3.2%
Q2 25	$8M	1.2%
Q3 25	$17M	2.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$43M	$129M
Q2 22	$43M	$174M
Q3 22	$45M	$140M
Q4 22	$50M	$144M
Q1 23	$50M	$163M
Q2 23	$55M	$179M
Q3 23	$58M	$181M
Q4 23	$42M	$213M
Q1 24	$50M	$200M
Q2 24	$54M	$223M
Q3 24	$55M	$234M
Q4 24	$61M	$261M
Q1 25	$60M	$261M
Q2 25	$73M	$258M
Q3 25	$77M	$315M
Q4 25	$91M	$331M

Revenue Segments

Quarter	Drug Delivery	International Omnipod
Q1 22	$26M	$270M
Q2 22	$14M	$286M
Q3 22	$15M	$326M
Q4 22	$3M	$366M
Q1 23	$500.0K	$358M
Q2 23	$16M	$381M
Q3 23	$11M	$422M
Q4 23	$9M	$501M
Q1 24	$9M	$433M
Q2 24	$8M	$480M
Q3 24	$10M	$534M
Q1 25	$15M	$554M
Q2 25	$10M	$639M
Q3 25	$7M	$699M
Q4 25	$2M	$782M

Revenue by Geography

Quarter	Non-US	United States
Q1 25	$152M	$417M
Q2 25	$186M	$463M
Q3 25	$202M	$504M
Q4 25	$214M	$570M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$710M	$0	$710M
Q2 22	$659M	$50M	$709M
Q3 22	$672M	$50M	$722M
Q4 22	$624M	$51M	$675M
Q1 23	$519M	$102M	$621M
Q2 23	$557M	$103M	$660M
Q3 23	$581M	$105M	$685M
Q4 23	$651M	$54M	$704M
Q1 24	$697M	$54M	$751M
Q2 24	$716M	$106M	$821M
Q3 24	$903M	$0	$903M
Q4 24	$953M	$0	$953M
Q1 25	$1.3B	$0	$1.3B
Q2 25	$993M	$129M	$1.1B
Q3 25	$757M	$0	$757M
Q4 25	$716M	$0	$716M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	70M	+0.1%	+5.9%
Q2 22	69M	-0.7%	+4.0%
Q3 22	69M	+0.1%	-0.3%
Q4 22	70M	+0.9%	+0.3%
Q1 23	70M	+0.1%	+0.3%
Q2 23	70M	+0.1%	+1.1%
Q3 23	74M	+5.0%	+6.1%
Q4 23	70M	-5.1%	-0.2%
Q1 24	74M	+5.6%	+5.2%
Q2 24	74M	+0.1%	+5.2%
Q3 24	74M	+0.2%	+0.4%
Q4 24	74M	+0.2%	+6.0%
Q1 25	74M	+0.0%	+0.5%
Q2 25	71M	-4.7%	-4.3%
Q3 25	71M	+0.0%	-4.4%
Q4 25	71M	+0.0%	-4.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$128.4K	2K
Q2 22	$130.2K	2K
Q3 22	$148.2K	2K
Q4 22	$142.2K	3K
Q1 23	$137.7K	3K
Q2 23	$152.5K	3K
Q3 23	$166.4K	3K
Q4 23	$169.9K	3K
Q1 24	$147.2K	3K
Q2 24	$162.8K	3K
Q3 24	$181.3K	3K
Q4 24	$153.2K	4K
Q1 25	$145.9K	4K
Q2 25	$166.4K	4K
Q3 25	$181.1K	4K
Q4 25	$145.1K	5K

Revenue / Employee