Insulet Corp

Company facts

Industry

Surgical & Medical Instruments & Apparatus

Headquarters

Acton, Massachusetts

Most recent report

10-Q, filed Nov 4, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1145197

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 2 positive, 14 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with material balance-sheet swings, debt refinancing, litigation reversal, and warranty charges.
  Notable

  • Term Loan B refinanced in Sep 2026, rate cut from SOFR+2.00% to SOFR+1.75%; revolving facility raised to $750M.
  • Costa Rica plant financing includes a $97M guarantee for seller's loan; $25.1M recorded as debt.
  • A securities class action filed Jul 2026 alleges false statements about Omnipod quality; no accrual recorded.
  • Board authorized $1B stock buyback in Oct 2026, effective through Dec 2028.
  Negative

  • Two voluntary medical device corrections in 2026 accrued $37M in warranty costs; estimate later reduced by $10.7M.
  • A $452M trade-secret jury award was reversed on appeal; no accrual recorded, but no cash received.

• Management's Discussion (Item 2)

  Revenue growth, MDC charges, share repurchase, and debt refinancing details are all company-specific.
  Positive

  • Total revenue up 19.2% to $842.0M in Q3 2026, with constant currency growth of 19.6%.
  • International Omnipod revenue grew 31.7% to $266.2M in Q3 2026, driven by volume and higher prices.
  Notable

  • Drug Delivery revenue fell 54.7% to $14.6M for nine months, driven by lower Amgen orders.
  • Gross margin improved to 75.1% in Q3 2026 from 72.2%, helped by a 90 bps warranty adjustment from MDCs.
  • R&D spending up 28.2% to $269.4M for nine months, investing in Omnipod 6 and closed-loop system.
  • Refinanced Term Loan B in Sep 2026; $0.3M loss on extinguishment recorded.
  • Effective tax rate fell to 20.0% from 27.0% due to prior-year non-deductible debt extinguishment loss.
  • Working capital outflow of $177.3M driven by $179.6M rise in AR and $103.0M inventory build.
  • Capital expenditures doubled to $113.9M for nine months, mainly for Costa Rica plant and equipment.
  • Free cash flow dropped to $211.7M from $329.5M due to higher working capital and capex.
  • Board authorized $1B new buyback program in Oct 2026; expects ~$400M repurchases in 2026.
  • Entered $45.1M purchase commitment for semiconductor chips with NXP USA in 2026.
  Negative

  • Two voluntary medical device corrections in 2026; net charge of $38.5M, total estimated costs ~$50M.

What changed: Sep 2026 vs. Jun 2026

About 9% of PODD's Sep 2026 10-Q is new information. 22 paragraphs were added, 137 changed, and 36 removed. Below are the most important lines SECSift identified.

• Item 2 63
• Item 1 40
• Item 6 13
• Item 4 2
• Item 3 1
• Item 1A 1
• Item 5 1