Insulet Corp. (PODD) financial statements: income statement, balance sheet and cash flow
Insulet Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Insulet Corp. reported revenue of $2.7B (+30.7% year on year) and net income of $247.1M (-40.9% year on year).
Income statement
Insulet Corp. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$2.7B
$2.1B
$1.7B
$1.1B
Cost of revenue
$768.2M
$625.9M
$537.2M
$499.7M
Gross profit
$1.9B
$1.4B
$1.2B
$805.6M
Research and development expenses
$301.1M
$219.6M
$205.0M
$180.2M
Selling, general and administrative expenses
$1.2B
$917.2M
$734.9M
$587.8M
Operating income
$473.8M
$308.9M
$220.0M
$37.6M
Interest expense, net of portion capitalized (Note 8)
($59.4M)
($42.7M)
—
—
Interest income
$34.7M
$39.5M
$28.6M
—
Loss on extinguishment of debt
($123.9M)
—
$0
$0
Other income (expense), net
$14.3M
($5.5M)
$2.2M
($1.1M)
Income before income taxes
$339.5M
$300.2M
$214.6M
$9.8M
Income tax (expense) benefit
($92.4M)
$118.1M
($8.3M)
($5.2M)
Net income
$247.1M
$418.3M
$206.3M
$4.6M
Basic (in dollars per share)
$3.51
$5.97
$2.96
$0.07
Diluted (in dollars per share)
$3.48
$5.78
$2.94
$0.07
Basic (in shares)
70.3M
70.1M
69.8M
69.4M
Diluted (in shares)
71.9M
73.9M
73.6M
69.9M
Insulet Corp. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$801.7M
$761.7M
$706.3M
$649.1M
Cost of revenue
$239.1M
$232.7M
$196.2M
$196.9M
Gross profit
$562.6M
$529.1M
$510.1M
$452.2M
Research and development expenses
$88.1M
$89.7M
$77.2M
$73.4M
Selling, general and administrative expenses
$344.8M
$317.2M
$315.2M
$257.7M
Operating income
$129.7M
$122.1M
$117.7M
$121.1M
Interest expense
($13.5M)
($14.7M)
($15.6M)
($19.6M)
Interest income
$3.6M
$4.9M
$8.6M
$10.1M
Loss on extinguishment of debt
$0
$0
$0
($84.4M)
Other (expense) income, net
($1.1M)
$700.0K
$12.1M
$1.3M
Income before income taxes
$118.7M
$113.0M
$122.8M
$28.4M
Income tax expense
($23.7M)
($21.9M)
($35.2M)
($5.9M)
Net income
$95.0M
$91.1M
$87.6M
$22.5M
Basic (in dollars per share)
$1.37
$1.30
$1.24
$0.32
Diluted (in dollars per share)
$1.37
$1.30
$1.24
$0.32
Basic (in shares)
69.3M
70.0M
70.4M
70.4M
Diluted (in shares)
69.4M
70.2M
70.7M
70.7M
Balance sheet
Insulet Corp. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$716.1M
$953.4M
$704.2M
$674.7M
Accounts receivable, net
$516.9M
$365.5M
$359.7M
$140.9M
Inventories
$452.6M
$430.4M
$402.6M
$346.8M
Prepaid expenses and other current assets
$228.3M
$142.0M
$116.4M
$86.9M
Total current assets
$1.9B
$1.9B
$1.6B
$1.3B
Property, plant and equipment, net
$819.5M
$723.1M
$664.9M
$599.9M
Other intangible assets, net
$117.1M
$98.5M
$98.7M
$75.5M
Goodwill
$51.6M
$51.5M
$51.7M
$51.7M
Deferred tax assets
$82.4M
$141.8M
—
—
Other assets (includes $1.0 and $10.1 at fair value)
$205.8M
$181.5M
$190.0M
$210.0M
Total assets
$3.2B
$3.1B
$2.6B
$2.3B
Accounts payable
$75.0M
$19.8M
$19.2M
$30.8M
Accrued expenses and other current liabilities
$586.7M
$424.8M
$382.6M
$301.0M
Current portion of long-term debt
$18.4M
$83.8M
$49.4M
$27.5M
Total current liabilities
$680.1M
$528.4M
$451.2M
$364.7M
Long-term debt, net
$930.8M
$1.3B
$1.4B
$1.4B
Other liabilities
$64.4M
$51.6M
$37.9M
$35.7M
Total liabilities
$1.7B
$1.9B
$1.9B
$1.8B
Preferred stock, $.001 par value, 5,000,000 authorized; none issued and outstanding
$0
$0
$0
$0
Common stock, $.001 par value, 100,000,000 authorized; 70,588,192 and 70,390,816 shares issued and outstanding, respectively, at December 31, 2025; and 70,196,031 issued and outstanding, at December 31, 2024
100.0K
100.0K
100.0K
100.0K
Additional paid-in capital
$1.3B
$1.2B
$1.1B
$1.0B
Accumulated earnings (deficit)
$287.4M
$40.3M
($378.0M)
($584.3M)
Accumulated other comprehensive income (loss)
$12.5M
($13.2M)
$8.0M
$20.0M
Treasury stock, at cost; 197,374 and — shares
-60.4M
—
—
—
Deferred compensation
$800.0K
—
—
—
Total stockholders’ equity
$1.5B
$1.2B
$732.7M
$476.4M
Total liabilities and stockholders’ equity
$3.2B
$3.1B
$2.6B
$2.3B
Insulet Corp. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$534.9M
$480.4M
$757.4M
$1.1B
Accounts receivable trade, net
$588.7M
$544.7M
$462.2M
$444.5M
Inventories
$484.8M
$462.5M
$446.3M
$446.9M
Prepaid expenses and other current assets
$240.7M
$221.9M
—
$266.7M
Total current assets
$1.8B
$1.7B
$1.9B
$2.3B
Property, plant and equipment, net
$858.6M
$830.4M
$724.1M
$720.4M
Other intangible assets, net
$115.1M
$115.2M
$105.0M
$102.3M
Goodwill
$51.6M
$51.6M
$51.6M
$51.7M
Other assets
$290.8M
$280.6M
$188.3M
$315.1M
Total assets
$3.2B
$3.0B
$3.0B
$3.5B
Accounts payable
$123.3M
$149.8M
$48.2M
$96.1M
Accrued expenses and other current liabilities
$602.0M
$519.0M
$519.6M
$453.4M
Current portion of long-term debt
$18.9M
$18.6M
$79.9M
$460.7M
Total current liabilities
$744.2M
$687.5M
$647.7M
$1.0B
Long-term debt, net
$929.5M
$929.5M
$934.9M
$939.0M
Other liabilities
$69.2M
$67.7M
$62.6M
$57.1M
Total liabilities
$1.7B
$1.7B
$1.6B
$2.0B
Preferred stock
$0
$0
$0
$0
Common stock
$100.0K
$100.0K
$100.0K
$100.0K
Additional paid-in capital
$1.3B
$1.3B
$1.2B
$1.4B
Accumulated earnings
$473.5M
$378.5M
$185.8M
$98.2M
Accumulated other comprehensive income
$1.9M
$5.6M
$12.2M
$15.4M
Treasury stock
($363.5M)
($363.3M)
($60.5M)
($31.0M)
Deferred compensation
$1.2M
$900.0K
$900.0K
$900.0K
Total stockholders’ equity
$1.4B
$1.3B
$1.4B
$1.5B
Total liabilities and stockholders’ equity
$3.2B
$3.0B
$3.0B
$3.5B
Cash flow statement
Insulet Corp. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$247.1M
$418.3M
$206.3M
$4.6M
Depreciation and amortization
$90.4M
$80.8M
$72.8M
$63.2M
Stock-based compensation expense
$62.7M
$69.3M
$48.3M
$40.9M
Deferred income taxes
$62.2M
($136.9M)
—
—
Non-cash interest expense
$6.2M
$7.3M
$6.7M
$5.8M
Loss on extinguishment of debt
$123.9M
—
$0
$0
Gain on derivative asset
($12.5M)
—
—
—
Provisions for credit losses
$5.4M
—
—
—
Loss (gain) on investments
$0
—
—
—
Other
$7.0M
$4.9M
($100.0K)
$2.8M
Accounts receivable
($140.2M)
($10.4M)
($99.4M)
($12.9M)
Inventories
($10.6M)
($32.4M)
($53.6M)
($49.1M)
Prepaid expenses and other assets
($81.7M)
($21.9M)
($42.1M)
($36.8M)
Accounts payable
$49.2M
$2.2M
($11.0M)
($2.4M)
Accrued expenses and other liabilities
$160.2M
$45.5M
$70.3M
$133.9M
Net cash provided by operating activities
$569.3M
$430.3M
$145.7M
$119.0M
Capital expenditures
($191.6M)
($124.9M)
($75.6M)
($122.9M)
Investments in developed software
($19.2M)
($9.1M)
($8.5M)
($12.9M)
Acquisition of other intangible assets
($8.6M)
$0
($25.1M)
($21.5M)
Cash paid for investments
$0
($12.2M)
($7.2M)
($7.8M)
Other
($3.2M)
—
—
—
Net cash used in investing activities
($222.7M)
($146.2M)
($119.4M)
($191.1M)
Proceeds from issuance of senior unsecured notes, net of issuance costs
$440.7M
—
—
—
Proceeds from issuance of Term Loan B, net of issuance costs
$15.5M
$130.0M
$0
$0
Repayment of Term Loan B
($20.5M)
($137.2M)
($5.0M)
($5.0M)
Repayment of equipment financings
($18.2M)
($19.0M)
($19.8M)
($17.4M)
Repayment of Convertible Senior Notes
($1.1B)
—
$0
$0
Financing lease repayments
$0
($22.7M)
$0
($15.3M)
Repayment of mortgage
($60.9M)
($2.4M)
($2.2M)
($2.1M)
Proceeds from secured borrowing (Note 5)
$49.9M
$45.5M
—
—
Repayment of secured borrowing (Note 5)
($62.4M)
($34.8M)
—
—
Settlement of capped call options
$164.6M
—
—
—
Repurchase of common stock
($59.6M)
—
—
—
Proceeds from exercise of stock options
$19.0M
$8.2M
$16.3M
$6.9M
Proceeds from issuance of common stock under employee stock purchase plan
$14.9M
$11.9M
$10.6M
$9.4M
Payment of withholding taxes in connection with vesting of restricted stock units
($25.9M)
($7.6M)
($13.2M)
($16.8M)
Other
$0
$0
—
—
Net cash used in financing activities
($595.3M)
($28.1M)
($13.6M)
($40.3M)
Effect of exchange rate changes on cash and cash equivalents
$11.5M
($6.8M)
$1.8M
($4.3M)
Net (decrease) increase in cash, cash equivalents, and restricted cash
($237.3M)
$249.2M
$14.5M
($116.7M)
Cash, cash equivalents, and restricted cash, beginning of year
$953.4M
$704.2M
$689.7M
$806.4M
Cash and cash equivalents, end of year
$716.1M
—
—
—
Insulet Corp. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$186.1M
$91.1M
$145.5M
$57.9M
Depreciation and amortization
$52.9M
$26.2M
$66.0M
$44.0M
Stock-based compensation expense
$40.9M
$21.3M
$42.4M
$25.7M
Non-cash interest expense
$1.4M
$700.0K
$5.4M
$4.6M
Loss on extinguishment of debt
$0
$0
$123.9M
$123.9M
Deferred income taxes
$15.2M
$7.0M
$42.7M
$7.0M
Provision for credit losses
$700.0K
$300.0K
$5.2M
$5.1M
Other
($500.0K)
($400.0K)
$5.0M
$4.0M
Accounts receivable
($76.9M)
($30.6M)
($86.1M)
($66.9M)
Inventories
($34.9M)
($11.5M)
($4.7M)
($4.7M)
Prepaid expenses and other assets
($28.1M)
$7.6M
($55.5M)
($31.6M)
Accounts payable
$39.9M
$71.4M
$25.6M
$72.6M
Accrued expenses and other liabilities
$5.6M
($69.3M)
$83.1M
$18.7M
Net cash provided by operating activities
$202.2M
$113.8M
$386.0M
$260.3M
Capital expenditures
($56.8M)
($24.3M)
($56.5M)
($30.9M)
Investments in developed software
($8.3M)
($3.5M)
($13.5M)
($8.0M)
Net cash used in investing activities
($65.1M)
($27.7M)
($69.9M)
($38.9M)
Proceeds from issuance of senior unsecured notes, net of issuance costs
$0
$0
$15.5M
$15.5M
Repayment of convertible debt
$0
$0
($1.1B)
($541.5M)
Settlement of capped call options
$0
$0
$164.6M
$75.7M
Proceeds from issuance of term loan B, net of issuance costs
$0
—
$440.7M
$440.7M
Repayment of other debt
($9.1M)
($4.5M)
—
—
Proceeds from secured borrowings (note 3)
$0
$0
$49.4M
$36.1M
Repayment of secured borrowings (note 3)
$0
$0
($46.8M)
($32.6M)
Repurchase of common stock
($300.0M)
($300.0M)
($59.6M)
($30.1M)
Proceeds from exercise of stock options
$500.0K
$400.0K
$17.2M
$12.6M
Proceeds from issuance of common stock under employee stock purchase plan
$8.9M
—
$7.1M
$7.1M
Payment of withholding taxes in connection with vesting of restricted stock units
($16.2M)
($15.7M)
($25.1M)
($22.9M)
Net cash used in financing activities
($315.9M)
($319.9M)
($522.8M)
($65.8M)
Effect of exchange rates on cash and cash equivalents
($2.4M)
($1.9M)
$10.8M
$12.7M
Net (decrease) increase in cash and cash equivalents
($181.2M)
($235.7M)
($195.9M)
$168.2M
Cash and cash equivalents, beginning of period
$716.1M
$716.1M
$953.4M
$953.4M
Cash and cash equivalents, end of period
$534.9M
—
—
—
Purchases of property and equipment included in accounts payable and accrued expenses