INSULET (PODD) Company Report

U.S. Omnipod revenue reached $1.9 billion in 2025, reflecting a 31% CAGR since 2021.
International revenue rose to $754 million in 2025, representing a 20% CAGR since 2021.
Insulet is the #1 most requested and prescribed AID system in the U.S., with >65% of new customer starts in the category since 2023.
The company has invested >$1 billion in manufacturing and ~$2 billion in R&D, maintaining 100% U.S. pay-as-you-go pharmacy access and supporting 600K+ active customers.
Pipeline highlights include enhancements to the Omnipod 5 ecosystem in 2026, launch of Omnipod 6 in 2027, and a fully closed-loop T2D system by 2028.

Feb 18, 2026, 1:00 PM

Presentation

Insulet reports Q4 2025 financial results

PODD

Earnings

Guidance Update

Share Buyback

Total company revenues reached $784 million in Q4, up 29% in constant currency; full-year revenue exceeded $2.7 billion, growing ~30% cc.
Gross margin expanded to 72.5% in Q4 (+40 bps YoY) and 71.6% for FY (+180 bps), driving adjusted operating margins of 18.7% in Q4 and 17.6% for the year (+270 bps).
Adjusted EPS was $1.55 in Q4 (+35% YoY) and $4.97 for FY 2025 (+53% YoY).
2026 outlook sees Q1 Omnipod revenue growth of 28–30% (total company 25–27%), and full-year Omnipod growth of 21–23% (total company 20–22%).
Ended Q4 with $760 million in cash, generated over $375 million in free cash flow (+24%), repurchased ~184,000 shares for $59.6 million, and authorized an additional $350 million for buybacks.

Feb 18, 2026, 1:00 PM

Transcript

Insulet reports Q4 2025 results

PODD

Earnings

Guidance Update

Insulet delivered Q4 total revenue of $784 million (+29% constant currency), with U.S. sales of $568 million (+28%) and international revenue of $214 million (+42% cc); 2025 full-year revenue topped $2.7 billion (+29.5% cc).
Gross margin expanded to 72.5% in Q4 (+40 bp) and 71.6% for the year (+180 bp); adjusted EPS was $1.55 in Q4 (+35%) and $4.97 for 2025 (+53%); free cash flow rose 24% to >$375 million, with $135 million of capex in Q4.
2026 guidance targets Omnipod revenue growth of 21–23%, total company revenue growth of 20–22%, roughly 100 bp of operating margin expansion, and a 100 bp tailwind from FX; Q1 Omnipod growth is forecast at 28–30%.
R&D spend rose 50% in Q4 and 37% for 2025, funding imminent algorithm enhancements for tighter glycemic control, FreeStyle Libre 3 Plus integration, the Omnipod Discover data platform, and next-gen Omnipod 6 (2027) plus a fully closed-loop Type 2 system (2028).

Feb 18, 2026, 1:00 PM

Transcript

Insulet announces Q4 2025 results

PODD

Earnings

Guidance Update

Insulet delivered Q4 revenue of $783.8 M, up 31.2% YoY (29.0% constant currency).
U.S. Omnipod revenue reached $567.8 M (+28.0% YoY) and International Omnipod revenue was $214.0 M (+50.7%, 41.7% constant currency).
Reported gross margin of 72.5% (up 40 bps) and adjusted operating margin of 18.7% (up 30 bps).
Provided FY 2026 guidance for 20–22% total revenue growth (constant currency), ~100 bps adjusted operating margin expansion, and >25% adjusted EPS growth.
Achieved strategic milestones, including #1 New Customer Starts in both the U.S. and Europe and over 600,000 estimated active Omnipod users globally.

Feb 18, 2026, 1:00 PM

Presentation

Insulet reports Q4 2025 results

PODD

Earnings

Guidance Update

Share Buyback

Q4 2025 total revenue of $784 million (+29% constant currency) and full-year revenue of over $2.7 billion (+29.5% constant currency) driven by U.S. (+28%) and international (+42% cc) growth.
Q4 gross margin expanded to 72.5% (+40 bps YoY) and full-year gross margin to 71.6% (+180 bps); full-year adjusted operating margin reached 17.6% (+270 bps).
Q4 adjusted EPS of $1.55 (+35% YoY) and full-year adjusted EPS of $4.97 (+53% YoY).
Delivered over $375 million of free cash flow (+24% YoY), ended Q4 with $760 million in cash, and repurchased ~184,000 shares for $59.6 million in 2025.
2026 outlook: Q1 Omnipod revenue growth of 28–30% and full-year Omnipod growth of 21–23% (total company 20–22%), >25% EPS growth, plus a $350 million share repurchase authorization.

Feb 18, 2026, 1:00 PM

Transcript

Insulet reports Q4 2025 results and 2026 guidance

PODD

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 2025 revenue of $783.8 million, up 31.2% year-over-year; adjusted EPS $1.55 (GAAP EPS $1.44)
GAAP net income $101.6 million (vs. $102.9 million a year earlier); adjusted net income $109.2 million
Guidance for 2026: GAAP revenue growth of 21–23% in Q1 and 27–29% for the full year
Longer-term momentum with a five-year revenue CAGR of ~24.5% and two-year annualized growth of ~26.3% (constant-currency ~25.9%)

Feb 18, 2026, 12:10 PM

Morningstar

Insulet reports Q4 and full year 2025 results

PODD

Earnings

Share Buyback

Guidance Update

Q4 revenue was $783.8 million, up 31.2% (29.0% constant currency); Omnipod product sales of $781.8 million (+33.5%).
Full year revenue reached $2.708 billion, a 30.7% increase (29.5% cc), with gross margin of 71.6% (+180 bps).
Q4 net income of $101.6 million (EPS $1.44) and full year net income of $247.1 million (EPS $3.48); adjusted EPS of $1.55 for Q4 and $4.97 for the full year.
Board approved a $350 million increase in the share repurchase authorization (total $475 million), with $415 million available as of February 16, 2026.
2026 guidance: total revenue growth of 25–27% in Q1 and 20–22% for FY 2026; adjusted EPS growth >25% and ~100 bps operating margin expansion.

Feb 18, 2026, 12:05 PM

8-K

Insulet reports Q4 and full-year 2025 results

PODD

Earnings

Share Buyback

Q4 revenue was $783.8 million, up 31.2% YoY (29.0% constant currency); full-year revenue reached $2.708 billion, up 30.7% (29.5% CC)
Gross margin improved to 72.5% (+40 bps) in Q4 and 71.6% (+180 bps) for the year; operating income was $146.3 million (18.7% of revenue) in Q4 and $473.8 million (17.5%) full-year
Net income totaled $101.6 million (EPS $1.44) in Q4 and $247.1 million (EPS $3.48) for the year
Board approved a $350 million increase in share repurchase authorization, with ~$300 million planned in Q1 2026

Feb 18, 2026, 12:00 PM

Press Release

Insulet outlines strong 2025 performance and growth strategy

PODD

Guidance Update

New Projects/Investments

Insulet delivered $2.7 billion in revenue in 2025, representing a 25% CAGR since 2021, with a 17.6% adjusted operating margin, $4.97 adj. EPS, and $378 million in free cash flow.
The Omnipod platform is the #1 automated insulin delivery system in the U.S. for both type 1 and type 2 diabetes, drives ~50% of the global AID market, and serves 600,000+ active customers across 25 markets.
The company plans to invest $1 billion in R&D over the next three years to launch Omnipod 6, a fully closed-loop system for type 2 diabetes, and to expand manufacturing with new lines in Malaysia and a facility in Costa Rica.
Insulet targets ~20% revenue CAGR, ~100 bps of annual adjusted operating margin expansion, and 25%+ adjusted EPS CAGR through 2028, underpinned by deeper market penetration, sustained innovation, and operational leverage.

Feb 18, 2026, 12:00 PM

Presentation

Insulet outlines strong 2025 guidance and growth roadmap

PODD

Product Launch

New Projects/Investments

Insulet expects $2.7 billion in revenue for 2025 and over 600,000 active Podders across 25 markets driven by Omnipod 5’s rapid adoption.
Revenue has compounded at a 25% CAGR since 2021, adjusted operating margins have expanded nearly 600 bps, and the company has been free cash flow positive since 2023.
Insulet’s TAM exceeds $30 billion across ~8 million patients in US Type 1, OUS Type 1, and US Type 2 segments, with AID penetration ranging from <5% to 40%, highlighting significant under-penetration.
Pipeline milestones include 2026 Omnipod 5 updates (enhanced algorithm, full CGM integration, Omnipod Discover), 2027 Omnipod 6 launch (smarter algorithm, OTA updates), and 2028 fully closed-loop system for Type 2 diabetes.
Through 2028, management targets ~20% annual revenue growth, 100 bps adjusted operating margin expansion per year, and 25%+ EPS CAGR, backed by >$1 billion in R&D investment over three years.

Jan 13, 2026, 7:15 PM

Transcript

Fintool News

In-depth analysis and coverage of INSULET.

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Insulet CEO Ashley McEvoy Buys $1 Million in Stock After Post-Earnings Dip

Feb 23

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Earnings Transcripts

Quarterly earnings call transcripts for INSULET.

Q4 2025

Feb 18, 2026

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Q3 2025

Nov 6, 2025

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Q2 2025

Aug 7, 2025

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INSULET (PODD)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Ashley McEvoy

Ana Maria Chadwick

Dan Manea

Eric Benjamin

John Kapples

Laetitia Cousin

Prem Singh

Board Members

Elizabeth Weatherman

Flavia Pease

Jessica Hopfield

Luciana Borio

Michael Minogue

Robbie Huffines

Timothy Scannell

Timothy Stonesifer

Wayne Frederick

Analyst Coverage

Joanne Wuensch

Travis Steed

Michael Polark

David Roman

Larry Biegelsen

Bill Plovanic

Danielle Antalffy

Issie Kirby

Jeffrey Johnson

Richard Newitter

Jayson Bedford

Jeff Johnson

Matthew O'Brien

Robbie Marcus

Matthew Taylor

Patrick Wood

Robert Marcus

Carol Wong

Christopher Pasquale

Danielle Antalffy

John Block

Lilia-Celine Lozada

Marie Thibault

Matt Miksic

Matt O'Brien

Matt Taylor

Mike Polark

Shagun Singh Chadha

Simran Kaur

Felipe

Macauley Kilbane

Margaret Kaczor Andrew

Matt

Matthew Miksic

Michael Kratky

Mike Kratky

Phillip Dantoin

Simran

Steven Lichtman

William Plovanic

Latest news

Fintool News

Insulet CEO Ashley McEvoy Buys $1 Million in Stock After Post-Earnings Dip

Earnings Transcripts

Q4 2025

Q3 2025

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