INSULET (PODD) Company Report

Insulet forecasts 20% compound annual revenue growth through 2028, driven by broader adoption of its Omnipod insulin pump and geographic expansion.
The company expects adjusted operating margins to improve by 100 basis points annually and adjusted diluted EPS to rise by 25% or more each year.
Key product launches include enhancements to Omnipod 5 with full CGM integration by 2026, the Omnipod 6 adaptive algorithm system in 2027, and a fully closed-loop solution for Type 2 diabetes in 2028.
Insulet plans to invest over $1 billion in R&D over the next three years to support its innovation pipeline.
Analysts at Bank of America Securities and TD Cowen maintain Buy ratings with price targets of $360–$380, reflecting confidence in the growth outlook.

Nov 21, 2025, 12:52 AM

Morningstar

Insulet outlines strategic roadmap and growth targets at Investor Day 2025

PODD

Guidance Update

Product Launch

Product pipeline: Omnipod 5 enhancements in 2026 (lower glucose target, full CGM integration, new Discover data platform), Omnipod 6 hybrid closed-loop launch in 2027, and a fully closed-loop system for type 2 diabetes in 2028 targeting a $12 billion market.
Financial targets: Projecting ~20% revenue CAGR, 100 bps annual operating margin expansion, and 25%+ EPS CAGR through 2028, underpinned by a scalable recurring-revenue model.
Market penetration goals: US type 1 AID adoption rising from ~40% today to 50–55%; US type 2 from ~5% to >10%; international type 1 from ~25% to 30–35%; overall Podder base growing from ~600,000 to over 1 million by 2028.
International footprint: Serving 220,000+ customers across 24 markets (13 with Omnipod 5), representing ~30% of revenue with attractive margins.
R&D investment: Committing >$1 billion in R&D over the next three years (over $2 billion deployed since inception) alongside significant capital spend on advanced manufacturing automation.

Nov 20, 2025, 2:00 PM

Transcript

Insulet unveils innovation and growth strategy at Investor Day 2025

PODD

Product Launch

Guidance Update

New Projects/Investments

Insulet’s product roadmap accelerates tubeless AID: Omnipod 5 enhancements (lower glucose target, full CGM integration, new data platform) in 2026, Omnipod 6 hybrid closed-loop launch in 2027, and a fully closed-loop system for type 2 diabetes in 2028, with next-generation pod hardware beyond 2028.
Through 2028, Insulet targets ~20% revenue CAGR, annual 100 bp adjusted operating margin expansion, and 25%+ EPS CAGR, growing its Podder base from ~600,000 today to >1 million by 2028.
AID penetration goals: U.S. type 1 from ~40% to 50–55%, U.S. type 2 from ~5% to >10%, and international type 1 from ~25% to 30–35% by 2028, driving sustained market share gains.
Insulet will invest >$1 billion in R&D over the next three years and expand its automated manufacturing footprint (Acton, Malaysia) with a new Costa Rica facility slated for 2029 to support global supply and margin expansion.

Nov 20, 2025, 2:00 PM

Transcript

Adocia announces patent filing for AdoXLong™ long-acting peptide platform

PODD

Product Launch

New Projects/Investments

Patent filed for AdoXLong™, a new peptide modification platform designed to extend the action of GLP-1, GIP, amylin and dual/triple agonists to at least one month
First application targets semaglutide, with preliminary in vitro and in vivo results supporting efficacy for monthly dosing
Platform uses a biocompatible polymer chemically linked to peptides to enable low-viscosity, standard subcutaneous injections
BioChaperone® platform development continues with two ongoing feasibility studies in collaboration with undisclosed pharmaceutical partners

Nov 12, 2025, 6:30 AM

Press Release

Insulet reports record 28% Q3 revenue growth

PODD

Earnings

Revenue Acceleration/Inflection

Insulet reported record Q3 revenue of $706.3 million, a 28% year-over-year increase at constant currency.
International segment revenue rose 40%, driven by the global rollout of the Omnipod 5 system.
Operating margin improved by 90 basis points to 17.1%, reflecting operational efficiencies despite higher R&D and interest expenses.
GAAP EPS of $1.24 exceeded consensus by 9.7%, marking the fourth consecutive quarter of topping estimates.
The company eliminated all convertible debt, enhancing financial flexibility for future growth.

Nov 6, 2025, 11:52 PM

Morningstar

Insulet reports Q3 2025 results

PODD

Earnings

CFO Change

Guidance Update

Insulet delivered > $700 million in Q3 2025 revenue, up 30% reported (28% constant currency). U.S. Omnipod revenue grew 25.6%, and International Omnipod revenue rose 46.5% reported (39.9% constant currency), crossing $200 million internationally.
Gross margin expanded to 72.2% (up 290 bps YoY); adjusted operating margin was 17.1% (up 90 bps) and adjusted EBITDA margin 22.7%. The company ended the quarter with $760 million in cash and had the full $500 million credit facility available.
Raised guidance: Q4 2025 Omnipod revenue growth of 27%–30% (total company 25%–28%), and full year Omnipod growth to 29%–30% with total revenue 28%–29%. Full year gross margin is now expected > 71% and operating margin 17.3%–17.5%.
R&D expenses increased 41% (up 80 bps of sales) to fund the innovation pipeline, while direct-to-consumer campaigns generated a record number of qualified leads (~65% from providers not yet called on by the sales force).
Management changes include Flavia Pease joining as CFO, offset by elimination of all $800 million in convertible debt and repurchase of ~91,000 shares for $30 million to reduce dilution.

Nov 6, 2025, 1:00 PM

Transcript

Insulet reports Q3 2025 results

PODD

Earnings

CFO Change

Guidance Update

Total revenues exceeded $700 million, up 28% at constant currency and 30% reported, driven by Omnipod 5 demand in Type 1 and Type 2 markets.
International Omnipod sales grew 46.5% reported (39.9% CC), crossing $200 million, while U.S. Omnipod rose 25.6%, benefiting from price mix and inventory normalization.
Gross margin expanded to 72.2%, a 290 bp year-over-year improvement from higher volumes, manufacturing productivity, and favorable pricing.
Raised guidance: 2025 Omnipod revenue growth to 29–30% (from 25–28%) and total company revenue to 28–29%, with Q4 Omnipod growth of 27–30% and total company growth of 25–28%.
Appointed Flavia Pease as CFO, eliminated $800 million of convertible debt, repurchased 91,000 shares for $30 million, and ended the quarter with $760 million in cash.

Nov 6, 2025, 1:00 PM

Transcript

Insulet reports Q3 2025 results

PODD

Earnings

Guidance Update

Q3 total revenue rose 29.9% YoY (constant currency growth of 28.2%) driven by both U.S. and international Omnipod sales.
Gross profit was $510.1 M with a 72.2% margin, up from 69.3% in Q3 2024, reflecting operational leverage and favorable mix.
Operating income reached $117.7 M (16.7% margin); adjusted operating income was $120.7 M (17.1% margin) after excluding certain non-recurring items.
Full-year 2025 revenue is expected at ~$2.7 B, implying 28%–29% constant currency growth, with gross margin above 71% and non-GAAP operating margin of 17.3%–17.5%.

Nov 6, 2025, 1:00 PM

Presentation

Insulet reports Q3 2025 results

PODD

Earnings

Management Change

Guidance Update

Insulet delivered $700 M+ in Q3 revenue, up 28% at constant currency (30% reported), with Omnipod sales rising 29% cc, U.S. revenue +25.6% and international +39.9% cc; gross margin 72.2% (+290 bps), adjusted operating margin 17.1%, adjusted EBITDA margin 22.7%, and $760 M cash on hand plus $500 M credit facility available.
Announced key management changes: Flavia Pease appointed CFO; Eric Benjamin promoted to COO; Manoj Raghunandanan named Chief Growth Officer.
R&D spending rose 41% (80 bps of sales) to fund innovation pipeline, while commercial investments in direct-to-consumer campaigns drove record DTC leads.
Raised Q4 2025 Omnipod revenue guidance to 27–30% growth (25–28% companywide) and full-year 2025 Omnipod growth to 29–30% (company revenue 28–29%), expecting full-year gross margin >71%, operating margin 17.3–17.5%.

Nov 6, 2025, 1:00 PM

Transcript

Insulet reports Q3 2025 results

PODD

Earnings

Guidance Update

Insulet delivered $706.3 million in total revenue, up 29.9% YoY (28.2% constant currency) in Q3 2025.
Gross margin expanded to 72.2%, up 290 bps, and adjusted operating margin rose to 17.1%, up 90 bps year-over-year.
International Omnipod revenue reached $202.1 million, growing 46.5% YoY (39.9% constant currency), while U.S. Omnipod revenue was $497.1 million, up 25.6%.
The company raised its FY 2025 revenue growth guidance to 28%–29% (from 24%–27%) and its adjusted operating margin outlook to 17.3%–17.5%, with gross margin expected to exceed 71%.
Operational highlights include integrating Omnipod 5 with Dexcom’s G7 CGM in multiple European markets and redeeming the remaining $380 million of convertible notes.