10-Q · May 6, 2026
Insulet Corporation's Q1 2026 results showcased strong growth, with revenue of $761.7 million and an EPS of $1.42, exceeding estimates and reflecting a 33.9% increase from the prior year. The growth was driven primarily…
Earnings analysis · 10-Q
PODD earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Insulet delivered a strong third quarter, with revenue of $842.0 million up 19.3% year over year, operating margin of 22.5%, and diluted EPS of $1.99, all supported by continued Omnipod growth. Management raised FY 2026…
Read full summary
Insulet delivered a strong third quarter, with revenue of $842.0 million up 19.3% year over year, operating margin of 22.5%, and diluted EPS of $1.99, all supported by continued Omnipod growth. Management raised FY 2026 revenue growth and adjusted operating-margin expansion outlooks, while maintaining adjusted EPS growth guidance above 30%. Drug Delivery revenue declined 22.7% and $7.2 million of medical device correction costs remain notable headwinds; the filing reported no material changes to previously disclosed risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.99
- Operating margin
- 22.5%
- Segment
- Omnipod revenue grew 19.7% year over year; Drug Delivery revenue declined 22.7% year over year. Segment revenue dollars were not disclosed in the provided filing text.
What stood out
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Revenue grew 19.3% year over year
Revenue was $842.0 million, up $40.0 million, or approximately 5.0%, from $802 million in 2026 Q2 and up $136.0 million, or approximately 19.3%, from $706 million in 2025 Q3. Revenue also exceeded the $832.8 million consensus estimate by $9.2 million.
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Operating margin expanded materially
Operating margin expanded to 22.5% from 16.2% in 2026 Q2 and 16.7% in 2025 Q3, an increase of 6.3 and 5.8 percentage points, respectively.
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EPS beat consensus by $0.40
Diluted EPS was $1.99, versus $1.37 in 2026 Q2 and $1.24 in 2025 Q3, increases of $0.62 and $0.75, respectively. EPS exceeded the $1.59 consensus estimate by $0.40.
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Omnipod remained the growth engine
Omnipod revenue increased 19.7% year over year, with international markets identified as a key growth contributor.
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Full-year outlook was raised
FY 2026 total revenue growth guidance was raised to 21%-22% from 20%-22%, while adjusted operating margin expansion guidance increased to approximately 150 basis points from approximately 100 basis points.
What to watch
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Medical device correction costs
The company recorded $7.2 million of medical device correction costs, creating a direct headwind to operating results and cash generation.
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Drug Delivery contraction
Drug Delivery revenue declined 22.7% year over year, indicating continued weakness outside the Omnipod business and increasing reliance on the core franchise.
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Lower cash generation and financing exposure
The filing states there were no material changes to market-risk disclosures during the nine months ended September 30, 2026, but operating cash generation was described as lower on a nine-month basis and the company amended its credit agreement on September 21, 2026.
Management's outlook
The company raised FY 2026 total revenue growth guidance to 21%-22% from 20%-22% and adjusted operating margin expansion guidance to approximately 150 basis points year over year from approximately 100 basis points. Adjusted EPS growth guidance was maintained at greater than 30%; no absolute revenue or EPS guidance was provided.
Earlier filings 4
10-K · February 18, 2026
Insulet reported strong 2025 operating performance with total revenue up 30.7% to $2,708.1 million driven by Omnipod product volume and international rollouts; gross margin expanded to 71.6% and free cash flow rose to…
10-Q · May 9, 2025
Insulet reported Q1 revenue of $569.0M, up $127.3M (+28.8%) year-over-year, with gross profit of $409.0M (71.9% gross margin) and operating income of $88.8M (15.6% operating margin). GAAP diluted EPS was $0.50 and net…
10-Q · November 8, 2024
Insulet reported a strong Q3: total revenue of $543.9M (up $111.2M or 25.7% vs Q3 2023) and diluted EPS of $1.08 (vs $0.74). Gross profit was $377.1M (gross margin ~69.3%) and operating income was $88.1M (operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.