INSULET CORP

10-K & 10-Q Filings

Insulet Corporation is a Massachusetts-based medical device company primarily engaged in the development, manufacture, and sale of proprietary continuous insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System, Omnipod DASH Insulin Management System, Omnipod Insulin Management System, and Omnipod GO, which received FDA clearance in 2023. Insulet also produces pods for Amgen for use in the Neulasta Onpro kit. The company's business strategy is to provide innovative, tubeless insulin delivery systems that offer freedom, comfort, convenience, and ease for people with insulin-dependent diabetes. The Omnipod platform eliminates the need for external tubing required with conventional pumps and uses a small, lightweight, self-adhesive disposable tubeless Omnipod device that delivers insulin into the body through a small flexible tube called a cannula. The company sells its products directly to consumers, through distribution partners, and in the U.S., also through the pharmacy channel. As of December 31, 2023, Omnipod products are available in 25 countries, including the United States, Canada, Europe, and the Middle East. Insulet's website is www.insulet.com, and its ticker symbol is ISLET on the NASDAQ Global Market.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$152.25
211.37
247.08
288.72
324.23
366.99
463.77
563.82
738.20
859.30
1037.60
1305.30
1697.10
22.25%30.02%Cost of Revenue (-)
$85.54
119.03
134.68
145.43
176.07
155.90
186.60
193.66
257.90
322.10
285.50
499.70
537.20
16.55%7.50%Gross Profit (+)
$66.71
92.34
112.40
143.29
148.15
211.09
277.17
370.17
480.30
582.30
752.10
805.60
1159.90
26.87%43.98%Selling, General & Administrative (-)
$87.32
103.95
119.77
127.68
165.71
166.08
210.10
254.14
300.60
384.00
466.00
587.80
734.90
19.42%25.03%Research & Development (-)
$21.86
24.36
21.77
27.90
43.21
55.71
74.45
88.61
129.70
146.80
160.10
180.20
205.00
20.50%13.76%Operating Expenses (-)
$109.18
128.31
141.54
155.59
208.92
221.79
284.56
342.75
430.30
530.80
626.10
768.00
939.90
19.65%22.38%Costs & Expenses (Total) (-)
$194.72
247.34
276.22
301.02
384.99
377.69
471.15
536.40
688.20
852.90
972.80
1267.70
1477.10
18.39%16.52%Operating Income/Loss (+)
$-42.47
-35.97
-29.14
-12.30
-60.77
-10.70
-7.39
27.42
50.00
51.50
126.00
37.60
220.00
485.11%Non-operating Income/Expense (+)
$-14.58
-15.68
-15.74
-39.06
-12.46
-16.11
-19.19
-22.20
-0.90
3.30
-44.30
-1.10
30.80
2900.00%Interest Expense (-)
$
12.58
14.39
21.21
28.90
34.60
36.20
Earnings before Tax (+)
$-57.04
-51.66
-44.87
-51.36
-73.23
-26.82
-26.57
5.23
14.50
9.70
20.50
9.80
214.60
2089.80%Tax Expense (-)
$-11.21
0.21
0.10
0.14
0.29
0.39
0.26
1.93
2.90
2.90
3.70
5.20
8.30
59.62%Income/Loss (Continuing Operations) (+)
$-45.83
-51.87
-44.97
-51.50
-73.52
-27.21
-26.83
3.29
11.60
6.80
16.80
4.60
206.30
4384.78%Income/Loss (Discontinued Operations) (+)
$
-1.67
Net Income/Loss (+)
$-45.83
-51.87
-44.97
-51.50
-73.52
-28.88
-26.83
3.29
11.60
6.80
16.80
4.60
206.30
4384.78%Net Income/Loss (Common) (+)
$-45.83
-51.87
-44.97
-51.50
-73.52
-28.88
-26.83
3.29
11.60
6.80
16.80
4.60
206.30
4384.78%EPS (Basic)
$-0.98
-1.08
-0.83
-0.93
-1.29
0.06
0.19
0.11
0.25
0.07
2.96
4128.57%EPS (Diluted)
$-0.98
-1.08
-0.83
-0.93
-1.29
0.05
0.19
0.10
0.24
0.07
2.94
4100.00%Weighted Avg Shares (Basic)
47.58
47.92
54.01
55.63
56.79
57.25
58.00
58.86
60.59
64.73
67.70
69.38
69.75
3.24%0.54%Weighted Avg Shares (Diluted)
47.92
54.01
55.63
56.79
57.25
58.00
61.01
62.30
65.95
68.58
69.91
73.63
5.33%Cash
$93.95
57.29
149.73
151.19
122.67
137.17
272.58
113.91
213.70
907.20
Short-term Investments
$
161.40
167.48
175.04
162.40
40.40
Receivables
$23.19
33.29
33.07
39.88
48.39
28.80
53.37
76.67
82.80
83.80
161.00
140.90
359.70
25.67%155.29%Inventory
$11.84
14.87
9.46
13.10
14.04
35.51
33.79
71.41
101.00
154.30
303.20
346.80
402.60
34.16%16.09%Prepaid Expenses (Current)
$3.65
4.48
5.94
4.02
5.66
7.07
9.95
24.25
31.10
63.00
74.00
86.90
116.40
33.44%33.95%Other Assets (Current)
$
791.60
739.40
704.20
-4.76%Assets (Current)
$132.63
109.94
198.20
208.20
190.76
369.96
537.17
461.29
591.00
1248.70
1329.80
1314.00
1582.90
22.95%20.46%Securities & Long-term Investments
$
125.55
140.78
58.40
Property, Plant & Equipment (Net)
$19.42
25.42
32.36
37.07
41.79
46.27
107.86
258.38
399.40
478.70
536.50
599.90
664.90
34.24%10.84%Goodwill & Intangibles
$66.54
60.50
55.58
51.60
42.47
40.20
44.19
50.03
53.00
68.50
76.40
127.20
150.40
7.03%18.24%Other Assets
$2.73
2.20
1.82
5.29
0.10
0.22
1.97
18.27
41.10
77.00
106.10
210.00
190.00
42.43%-9.52%Assets (Non-current)
$88.69
88.12
89.76
93.96
84.36
86.69
279.57
467.46
551.90
624.20
719.00
937.10
1005.30
22.42%7.28%Assets (Total)
$221.32
198.06
287.95
302.16
275.13
456.65
816.74
928.74
1142.90
1872.90
2048.80
2251.10
2588.20
22.74%14.97%Accounts Payable
$24.48
28.39
19.48
39.36
57.28
54.12
83.67
114.47
157.70
192.20
203.70
331.80
401.80
26.26%21.10%Debt (Current)
$
14.43
2.64
3.38
5.52
0.27
15.60
25.10
27.50
49.40
79.64%Other Liabilities (Current)
$3.51
5.47
20.26
1.55
2.36
1.31
2.36
1.18
5.40
Liabilities (Current)
$28.00
48.29
42.37
44.30
65.16
55.70
86.03
115.66
157.70
207.80
228.80
364.70
451.20
26.07%23.72%Debt (Non-current)
$108.54
103.73
119.04
171.26
171.97
332.77
566.17
591.98
887.90
1043.70
1248.80
1374.30
1366.40
23.50%-0.57%Other Liabilities
$2.05
1.87
1.94
2.77
3.95
5.03
6.03
9.01
21.40
17.80
14.90
35.70
37.90
27.51%6.16%Liabilities (Non-current)
$110.59
105.60
120.98
174.03
175.92
337.80
572.20
600.99
909.30
1061.50
1263.70
1410.00
1404.30
23.59%-0.40%Liabilities (Total)
$138.59
153.88
163.36
218.33
241.07
393.50
658.23
716.64
1067.00
1269.30
1492.50
1774.70
1855.50
24.14%4.55%Retained Earnings
$-429.68
-481.55
-526.52
-578.02
-651.54
-680.42
-707.25
-683.61
-672.00
-666.30
-649.50
-584.30
-378.00
35.31%AOCI
$
-0.65
-0.73
-0.49
-2.90
-1.20
5.50
-2.20
20.00
8.00
-60.00%Shareholder's Equity
$82.73
44.18
124.60
83.83
34.05
63.15
158.52
212.10
75.90
603.60
556.30
476.40
732.70
19.93%53.80%Liabilities & Equity
$221.32
198.06
287.95
302.16
275.13
456.65
816.74
928.74
1142.90
1872.90
2048.80
2251.10
2588.20
22.74%14.97%Net Income/Loss
$-45.83
-51.87
-44.97
-51.50
-73.52
-28.88
-26.83
3.29
11.60
6.80
16.80
4.60
206.30
4384.78%Depreciation & Amortization
$18.24
21.24
21.86
22.48
23.52
23.90
31.86
44.93
63.50
100.60
97.60
69.00
79.50
13.05%15.22%Increase/Decrease in Working Capital
$-2.53
11.76
-6.53
11.03
-8.00
13.58
-1.62
52.82
19.70
63.40
263.60
2.50
190.60
7524.00%Share-based Compensation
$7.73
9.92
12.68
22.52
19.18
23.62
31.94
37.52
28.70
35.90
34.40
40.90
48.30
16.49%18.09%Adjustments to Reconcile Net Income
$20.38
22.81
48.32
60.42
60.97
44.79
68.04
32.61
86.80
77.20
-84.90
114.40
-60.60
-152.97%Net Cash (Operating)
$-25.45
-29.06
3.35
8.92
-12.55
15.91
41.21
35.90
98.40
84.00
-68.10
119.00
145.70
22.44%Capital Expenditure
$48.97
10.99
7.31
11.49
15.32
16.40
77.23
162.35
170.90
166.50
122.70
183.30
112.20
7.15%-38.79%Net Cash (Investing)
$-48.97
-10.99
-7.31
-11.49
-15.32
-178.01
-210.80
-184.50
-73.60
14.00
-82.70
-191.10
-119.40
37.52%Increase/Decrease in Debt
$-88.19
-2.99
-193.38
-5.58
174.58
292.77
-6.70
116.60
-460.90
-15.30
Increase/Decrease in Equity
$4.51
4.93
102.65
11.59
7.85
4.85
509.20
11.40
6.90
16.00
11.12%131.88%Interest Expenses
$5.17
6.20
5.70
4.57
4.03
3.69
2.48
2.60
21.50
Net Cash (Financing)
$55.10
3.39
96.39
4.03
-0.37
176.57
304.55
-8.66
73.50
605.50
40.70
-40.30
-13.60
66.25%Cash Taxes Paid
$0.26
0.01
0.32
0.12
0.11
0.93
0.46
0.80
2.50
3.00
7.00
Effect of Exchange Rate
$
-0.28
0.03
0.45
-1.40
1.50
4.80
-5.50
-4.30
1.80
141.86%Increase/Decrease in Cash
$-19.32
-36.66
92.43
1.47
-28.52
14.50
135.40
-158.67
99.80
708.30
-115.60
-116.70
14.50
112.43%Cash (Beginning)
$113.27
93.95
57.29
149.73
151.19
122.67
137.17
272.58
113.90
213.70
922.00
806.40
689.70
16.25%-14.47%Cash (Ending)
$93.95
57.29
149.73
151.19
122.67
137.17
272.58
113.91
213.70
922.00
806.40
689.70
704.20
18.28%2.10%NOPAT
$-50.81
-35.96
-28.93
-12.27
-60.67
-10.33
-7.26
23.25
41.38
35.57
82.98
17.65
211.49
1098.32%Gross Margin %
43.82%
43.68%
45.49%
49.63%
45.69%
57.52%
59.76%
65.65%
65.06%
67.76%
72.48%
61.72%
68.35%
Operating Margin %
-27.89%
-17.02%
-11.79%
-4.26%
-18.74%
-2.92%
-1.59%
4.86%
6.77%
5.99%
12.14%
2.88%
12.96%
NOPAT Margin %
-33.37%
-17.01%
-11.71%
-4.25%
-18.71%
-2.82%
-1.57%
4.12%
5.61%
4.14%
8.00%
1.35%
12.46%
Net Margin %
-30.10%
-24.54%
-18.20%
-17.84%
-22.68%
-7.87%
-5.79%
0.58%
1.57%
0.79%
1.62%
0.35%
12.16%
Tax Rate %
-19.66%
0.02%
0.72%
0.24%
0.15%
3.48%
1.74%
15.21%
17.24%
30.93%
34.15%
53.06%
3.87%
ROA
-22.96%
-18.16%
-10.05%
-4.06%
-22.05%
-2.26%
-0.89%
2.50%
3.62%
1.90%
4.05%
0.78%
8.17%
ROE
-61.42%
-81.41%
-23.22%
-14.63%
-178.19%
-16.36%
-4.58%
10.96%
54.52%
5.89%
14.92%
3.70%
28.86%
ROIC
-44.72%
-27.97%
-22.00%
-9.13%
-48.03%
-7.39%
-3.44%
5.51%
7.09%
4.79%
13.54%
2.43%
25.94%
Asset Turnover
0.69
1.07
0.86
0.96
1.18
0.80
0.57
0.61
0.65
0.46
0.51
0.58
0.66
Inventory Turnover
7.23
8.01
14.23
11.10
12.54
4.39
5.52
2.71
2.55
2.09
0.94
1.44
1.33
Equity Multiplier
2.68
4.48
2.31
3.60
8.08
7.23
5.15
4.38
15.06
3.10
3.68
4.73
3.53
Current Ratio
4.74
2.28
4.68
4.70
2.93
6.64
6.24
3.99
3.75
6.01
5.81
3.60
3.51
Quick Ratio
4.18
1.88
4.31
4.31
2.63
5.88
5.74
3.16
2.91
4.96
0.70
0.39
0.80
Debt/Equity Ratio
1.31
2.67
0.98
2.08
5.21
5.27
3.57
2.79
11.70
1.75
2.29
2.94
1.93
Interest Coverage Ratio
-8.21
-5.80
-5.11
-2.69
-15.10
-2.90
-2.98
19.81
5.86
Working Capital/Sales
0.18
0.20
0.18
0.16
0.13
0.15
0.13
0.20
0.18
0.23
R&D/Sales
0.14
0.12
0.09
0.10
0.13
0.15
0.16
0.16
0.18
0.17
0.15
0.14
0.12
Total Payout
$88.85
1.27
-93.95
186.36
1.75
-175.75
-290.29
6.70
-116.60
-506.60
471.00
8.40
-16.00
-290.48%Payout Ratio %
174.86%
3.53%
-324.80%
1519.16%
2.88%
-1700.99%
-3999.27%
28.81%
-281.78%
-1424.15%
567.64%
47.59%
-7.57%