Insulet Corp.
PODDInsulet cuts 2026 revenue growth guidance to 20%-22% and assumes mid-teens 2027 revenue exit rate on weaker Type 2 retention, slower new starts
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.07B | $1.70B | $1.31B | $1.10B | $904.40M | $738.20M | $563.82M | $463.77M |
| Cost of Revenue | $625.90M | $537.20M | $499.70M | $346.70M | $322.10M | $257.90M | $193.66M | $186.60M |
| Gross Profit | $1.45B | $1.16B | $805.60M | $752.10M | $582.30M | $480.30M | $370.17M | $277.17M |
| Gross Margin | 69.79% | 68.35% | 61.72% | 68.45% | 64.39% | 65.06% | 65.65% | 59.76% |
| Operating Expenses | $1.14B | $939.90M | $768.00M | $626.10M | $530.80M | $430.30M | $342.77M | $284.57M |
| Operating Income | $308.90M | $220.00M | $37.60M | $126.00M | $51.50M | $50.00M | $27.40M | $-7.40M |
| Operating Margin | 14.91% | 12.96% | 2.88% | 11.47% | 5.69% | 6.77% | 4.86% | -1.60% |
| Net Income | $418.30M | $206.30M | $4.60M | $16.80M | $6.80M | $11.60M | $3.29M | $-26.83M |
| Net Margin | 20.19% | 12.16% | 0.35% | 1.53% | 0.75% | 1.57% | 0.58% | -5.79% |
| EPS (Basic) | $5.97 | $2.96 | $0.07 | $0.25 | $0.11 | $0.19 | $0.06 | $-0.46 |
| EBITDA | $423.70M | $323.60M | $109.00M | $139.60M | $110.30M | $74.20M | $47.10M | $6.40M |
| Stock Option Compensation Expense | $69.30M | $48.30M | $40.90M | $34.40M | $35.90M | $28.70M | $37.50M | $31.90M |
| Price To Earnings Ratio | 43.74 | 73.36 | 4439.85 | 1072.17 | 2433.56 | 894.28 | 1418.22 | -149.16 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | $18.29B | $15.13B | $20.42B | $18.01B | $16.55B | $10.37B | $4.67B | $4.00B |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $3.09B | $2.59B | $2.25B | $2.05B | $1.87B | $1.14B | $928.74M | $816.74M |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.88B | $1.86B | $1.77B | $1.49B | $1.27B | $1.07B | $716.64M | $658.23M |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $1.21B | $732.70M | $476.40M | $556.30M | $603.60M | $75.90M | $212.10M | $158.52M |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.21B | $732.70M | $476.40M | $556.30M | $603.60M | $75.90M | $212.10M | $158.52M |
| Total Liabilities & Stockholders Equity | $3.09B | $2.59B | $2.25B | $2.05B | $1.87B | $1.14B | $928.74M | $816.74M |
| Book Value Per Share | $17.29 | $10.50 | $6.87 | $8.22 | $9.32 | $1.25 | $3.60 | $2.73 |
| Tangible Book Value Per Share | $15.15 | $8.35 | $5.03 | $7.09 | $8.27 | $0.38 | $2.75 | $1.97 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 13.55% | 7.97% | 0.20% | 0.82% | 0.36% | 1.01% | 0.35% | -3.29% |
| Return on Equity | 34.52% | 28.16% | 0.97% | 3.02% | 1.13% | 15.28% | 1.55% | -16.93% |
| Return on Invested Capital | 11.68% | 9.66% | 0.92% | 5.58% | 2.14% | 4.05% | 2.14% | -1.01% |
| Quick Ratio | 2.73 | 2.58 | 2.61 | 4.43 | 5.21 | 3.05 | 3.31 | 5.85 |
| Current Ratio | 3.54 | 3.47 | 3.56 | 5.75 | 5.96 | 3.69 | 3.93 | 6.24 |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $418.30M | $206.30M | $4.60M | $16.80M | $6.80M | $11.60M | $3.29M | $-26.83M |
| Depreciation | $80.80M | $72.80M | $63.20M | $57.40M | $55.40M | $27.90M | $15.60M | $13.90M |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $430.30M | $145.70M | $119.00M | $-68.10M | $84.00M | $98.40M | $35.90M | $41.30M |
| Capital Expenditures | $124.90M | $75.60M | $157.30M | $122.70M | $166.50M | $170.90M | $162.35M | $77.23M |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $305.40M | $70.10M | $-38.30M | $-190.80M | $-82.50M | $-72.50M | $-126.45M | $-36.02M |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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About the company
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod platform products comprising Omnipod 5 automated insulin delivery system, which includes a proprietary AID algorithm embedded in the pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless Bluetooth communication; Omnipod DASH insulin management system that features a Bluetooth enabled pod that is controlled by a smartphone-like personal diabetes manager with a color touch screen user interface; and the Omnipod Insulin Management System. It also provides pods for Amgen for use in the Neulasta Onpro kit, which is a delivery system to help reduce the risk of infection after intense chemotherapy. The company sells its products to end-users through the pharmacy channel; and independent distributors. Insulet Corporation was incorporated in 2000 and is headquartered in Acton, Massachusetts.