2015 Q3 Form 10-Q Financial Statement

#000114519715000059 Filed on August 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $71.39M $60.55M $57.58M
YoY Change 18.93% 5.17% -4.19%
Cost Of Revenue $39.82M $30.04M $36.25M
YoY Change 7.8% -17.14% 8.99%
Gross Profit $31.57M $30.52M $31.83M
YoY Change -6.44% -4.13% 18.63%
Gross Profit Margin 44.22% 50.4% 55.28%
Selling, General & Admin $36.33M $32.51M $34.37M
YoY Change 7.61% -5.42% 25.06%
% of Gross Profit 115.08% 106.52% 107.97%
Research & Development $10.04M $12.07M $6.677M
YoY Change 40.19% 80.75% 29.05%
% of Gross Profit 31.79% 39.55% 20.98%
Depreciation & Amortization $4.300M $3.680M $3.030M
YoY Change 40.07% 21.45% 5.94%
% of Gross Profit 13.62% 12.06% 9.52%
Operating Expenses $46.37M $44.57M $41.05M
YoY Change 13.31% 8.6% 25.69%
Operating Profit -$14.79M -$14.06M -$5.280M
YoY Change 414.39% 166.27% -9.31%
Interest Expense -$3.100M -$3.200M $300.0K
YoY Change -16.22% -1166.67%
% of Operating Profit
Other Income/Expense, Net -$3.146M -$3.193M -$23.78M
YoY Change -60.42% -86.57% 419.31%
Pretax Income -$17.94M -$17.25M -$29.06M
YoY Change 65.75% -40.63% 179.39%
Income Tax $44.00K $15.00K $52.00K
% Of Pretax Income
Net Earnings -$18.93M -$15.43M -$29.11M
YoY Change 74.52% -46.99% 176.75%
Net Earnings / Revenue -26.51% -25.49% -50.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$332.2K -$271.1K -$525.3K
COMMON SHARES
Basic Shares Outstanding 56.90M shares 56.75M shares 55.41M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $145.5M $145.1M $175.5M
YoY Change -0.61% -17.32% 16.3%
Cash & Equivalents $145.5M $145.1M $175.5M
Short-Term Investments
Other Short-Term Assets $4.000M $3.400M $5.700M
YoY Change 17.65% -40.35% -13.64%
Inventory $13.02M $23.44M $8.765M
Prepaid Expenses
Receivables $31.80M $31.83M $41.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $194.3M $203.8M $231.8M
YoY Change -5.94% -12.08% 17.6%
LONG-TERM ASSETS
Property, Plant & Equipment $41.54M $42.04M $34.16M
YoY Change 13.54% 23.07% 16.45%
Goodwill $2.403M $37.54M $37.54M
YoY Change -93.6% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.384M $4.687M $5.919M
YoY Change -20.19% -20.81% 213.84%
Total Long-Term Assets $98.78M $96.56M $93.50M
YoY Change 4.44% 3.28% 5.02%
TOTAL ASSETS
Total Short-Term Assets $194.3M $203.8M $231.8M
Total Long-Term Assets $98.78M $96.56M $93.50M
Total Assets $293.1M $300.4M $325.3M
YoY Change -2.68% -7.66% 13.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.61M $17.92M $18.61M
YoY Change -11.91% -3.73% 62.66%
Accrued Expenses $35.55M $26.44M $24.59M
YoY Change 40.98% 7.54% 21.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.200M $23.87M
YoY Change 50.0% -74.03%
Total Short-Term Liabilities $59.44M $52.68M $71.20M
YoY Change 24.44% -26.01% 110.32%
LONG-TERM LIABILITIES
Long-Term Debt $173.9M $172.2M $165.9M
YoY Change 3.85% 3.83% 52.64%
Other Long-Term Liabilities $3.619M $2.921M $1.521M
YoY Change 40.27% 92.04% -32.28%
Total Long-Term Liabilities $177.5M $175.1M $167.4M
YoY Change 4.41% 4.63% 50.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.44M $52.68M $71.20M
Total Long-Term Liabilities $177.5M $175.1M $167.4M
Total Liabilities $238.0M $230.1M $242.5M
YoY Change 7.76% -5.09% 64.04%
SHAREHOLDERS EQUITY
Retained Earnings -$624.2M -$605.3M -$561.8M
YoY Change 9.01% 7.75% 11.74%
Common Stock $57.00K $57.00K $55.00K
YoY Change 1.79% 3.64% 1.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.13M $70.26M $77.88M
YoY Change
Total Liabilities & Shareholders Equity $293.1M $300.4M $325.3M
YoY Change -2.68% -7.66% 13.69%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$18.93M -$15.43M -$29.11M
YoY Change 74.52% -46.99% 176.75%
Depreciation, Depletion And Amortization $4.300M $3.680M $3.030M
YoY Change 40.07% 21.45% 5.94%
Cash From Operating Activities $8.740M $790.0K $510.0K
YoY Change 81.33% 54.9% -88.33%
INVESTING ACTIVITIES
Capital Expenditures -$2.530M -$250.0K -$3.590M
YoY Change -18.39% -93.04% 120.25%
Acquisitions
YoY Change
Other Investing Activities -$4.720M
YoY Change
Cash From Investing Activities -$7.240M -$250.0K -$3.590M
YoY Change 133.55% -93.04% 120.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -960.0K -1.000M 33.01M
YoY Change -96.89% -103.03% 25292.31%
NET CHANGE
Cash From Operating Activities 8.740M 790.0K 510.0K
Cash From Investing Activities -7.240M -250.0K -3.590M
Cash From Financing Activities -960.0K -1.000M 33.01M
Net Change In Cash 540.0K -460.0K 29.93M
YoY Change -101.85% -101.54% 942.86%
FREE CASH FLOW
Cash From Operating Activities $8.740M $790.0K $510.0K
Capital Expenditures -$2.530M -$250.0K -$3.590M
Free Cash Flow $11.27M $1.040M $4.100M
YoY Change 42.3% -74.63% -31.67%

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us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">Nature of the Business</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Insulet Corporation, the "Company," is primarily engaged in the development, manufacturing and sale of its proprietary OmniPod Insulin Management System (the &#8220;OmniPod System&#8221;), an innovative, discreet and easy-to-use insulin infusion system for people with insulin-dependent diabetes. The OmniPod System features a unique disposable tubeless OmniPod which is worn on the body for approximately three days at a time and the handheld, wireless Personal Diabetes Manager (&#8220;PDM&#8221;). Conventional insulin pumps require people with insulin-dependent diabetes to learn to use, manage and wear a number of cumbersome components, including up to </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">42</font><font style="font-family:Arial;font-size:10pt;"> inches of tubing. In contrast, the OmniPod System features two discreet, easy-to-use devices that eliminate the need for a bulky pump, tubing and separate blood glucose meter, provides for virtually pain-free automated cannula insertion, communicates wirelessly and integrates a blood glucose meter. </font></div><div style="line-height:120%;padding-bottom:0px;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company acquired Neighborhood Holdings, Inc. and its wholly-owned subsidiaries (collectively, &#8220;Neighborhood Diabetes&#8221;) in </font><font style="font-family:Arial;font-size:10pt;">June 2011</font><font style="font-family:Arial;font-size:10pt;">, in order to expand the Company&#8217;s full-suite diabetes management product offerings and obtain access to a larger number of insulin dependent patients. Through Neighborhood Diabetes, the Company is able to provide customers with blood glucose testing supplies, traditional insulin pumps, pump supplies and pharmaceuticals and has the ability to process claims as either durable medical equipment or through pharmacy benefits.</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Commercial sales of the OmniPod System began in the United States in </font><font style="font-family:Arial;font-size:10pt;">2005</font><font style="font-family:Arial;font-size:10pt;">. The Company sells the OmniPod System and other diabetes management supplies in the United States through direct sales to customers or through its distribution partners. The OmniPod System is currently available in multiple countries in Europe and in Canada.</font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#000000;font-style:italic;font-weight:bold;text-decoration:none;">Use of Estimates in Preparation of Financial Statements</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting periods. The most significant estimates used in these financial statements include the valuation of stock-based compensation expense, accounts receivable, inventories, goodwill, deferred revenue, and equity instruments, the lives of property and equipment and intangible assets, as well as warranty and doubtful accounts allowance reserve calculations. Actual results may differ from those estimates.</font></div></div>

Files In Submission

Name View Source Status
0001145197-15-000059-index-headers.html Edgar Link pending
0001145197-15-000059-index.html Edgar Link pending
0001145197-15-000059.txt Edgar Link pending
0001145197-15-000059-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
podd-20150630.xml Edgar Link completed
podd-20150630.xsd Edgar Link pending
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podd-20150630_def.xml Edgar Link unprocessable
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