Insulet Corporation
omnipod.comWhat Do They Do?
Sells wearable, tubeless insulin delivery systems to people with insulin-dependent diabetes and makes pods for a drug-delivery kit used by Amgen.
10-K for FY2025, filed Feb 18, 2026Insulet Corporation (“we” or the “Company”) is primarily engaged in the development, manufacture, and sale of its proprietary continuous…View ↗
We also produce pods for Amgen for use in the Neulasta® Onpro® kit, a delivery system for Amgen’s Neulasta to help reduce the risk of…View ↗
The Omnipod platform offers continuous insulin delivery that provides all the benefits of insulin pump therapy in a unique way without the…View ↗
How Do They Make Money?
People with diabetes buy Omnipod products through wholesalers, pharmacies, distributors, or directly from Insulet; disposable Pods are replaced regularly, generating repeat sales. Amgen buys pods for its Neulasta delivery kit.
10-K for FY2025, filed Feb 18, 2026We sell Omnipod products to wholesalers that supply the pharmacy channel in the United States. In addition, we sell Omnipod products…View ↗
Our Pod is intended to be used continuously for up to three days, after which it may be replaced with a new disposable Pod. As of December…View ↗
Substantially all of our Drug Delivery revenue consists of sales of pods to Amgen for use in the Neulasta® Onpro® kit, a delivery system…View ↗
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10-K for FY2025, filed Feb 18, 2026
FY2025 revenue by product or service ↗
$2.7B
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10-K for FY2025, filed Feb 18, 2026
$2.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
U.S.
Recurring
10-K for FY2025, filed Feb 18, 2026 |
71%
FY2022: 68%
|
U.S., FY2025
$1.9B Sources
|
Recurring |
|
International
Recurring
10-K for FY2025, filed Feb 18, 2026 |
28%
FY2022: 28%
|
International, FY2025
$754.3M Sources
|
Recurring |
|
Total Omnipod products
Recurring
10-K for FY2025, filed Feb 18, 2026 |
99%
FY2022: 96%
|
Total Omnipod products, FY2025
$2.7B Sources
|
Recurring |
|
Drug Delivery
|
1.3%
FY2022: 4.4%
|
Drug Delivery, FY2025
$34.1M Sources
|
Who Are Their Customers?
In the United States, wholesalers supply pharmacies, and Insulet also sells to healthcare organizations, pharmacies, and consumers. Internationally, it sells directly to consumers or through distributors and intermediaries.
10-K for FY2025, filed Feb 18, 2026In the United States, we sell our products primarily through wholesalers and, to a lesser extent to healthcare organizations, pharmacies…View ↗
In our international locations, we sell either directly to consumers or through a distributor/intermediary. In all countries where we…View ↗
We sell Omnipod products to wholesalers that supply the pharmacy channel in the United States. In addition, we sell Omnipod products…View ↗
10-K for FY2025, filed Feb 18, 2026
Years Ended December 31, 2025 2024 2023 Distributor A 27% 28% 28% Distributor B 26% 26% 24% Distributor C 25% 21% 19%View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.
10-K for FY2025, filed Feb 18, 2026
$473.8MView ↗
10-K for FY2025, filed Feb 18, 2026
$247.1MView ↗
10-K for FY2025, filed Feb 18, 2026
$377.7MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Insulet updated its 2026 revenue growth guidance
The company reported second-quarter results and revised its full-year constant-currency revenue growth outlook.
Sources
8-K, filed Aug 5, 2026
For the quarter ending September 30, 2026 and year ending December 31, 2026, the Company is providing the following guidance (revenue in…View ↗
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May 26, 2026
Insulet announced a second Omnipod device correction
The correction covers specific lots of Omnipod products after cannula tears were found; Insulet expects up to $50 million in costs in 2026.
Sources
8-K, filed May 26, 2026
While it is too early to ascertain the exact cost of this voluntary medical device correction, the Company expects to incur up to $50…View ↗
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Mar 12, 2026
Insulet initiated a correction for certain Omnipod 5 Pods
The action covers specific U.S. lots; Insulet expected up to $40 million in 2026 costs and did not change its guidance.
Sources
8-K, filed Mar 12, 2026
While it is too early to ascertain the exact cost of the voluntary medical device correction, the Company currently expects to incur up to…View ↗
Growing. Revenue grew 2.5x in 4 years, from $1.1B in FY2021 to $2.7B in FY2025, about 25% a year.
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