2016 Q3 Form 10-Q Financial Statement

#000114519716000094 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $94.87M $87.33M $60.55M
YoY Change 32.89% 44.23% 5.17%
Cost Of Revenue $39.23M $36.87M $30.04M
YoY Change -1.49% 22.76% -17.14%
Gross Profit $55.64M $50.46M $30.52M
YoY Change 76.25% 65.35% -4.13%
Gross Profit Margin 58.65% 57.78% 50.4%
Selling, General & Admin $39.49M $38.79M $32.51M
YoY Change 8.7% 19.34% -5.42%
% of Gross Profit 70.97% 76.88% 106.52%
Research & Development $13.73M $12.95M $12.07M
YoY Change 36.86% 7.32% 80.75%
% of Gross Profit 24.68% 25.67% 39.55%
Depreciation & Amortization $3.620M $3.430M $3.680M
YoY Change -15.81% -6.79% 21.45%
% of Gross Profit 6.51% 6.8% 12.06%
Operating Expenses $53.22M $51.75M $44.57M
YoY Change 14.79% 16.09% 8.6%
Operating Profit $2.418M -$1.288M -$14.06M
YoY Change -116.34% -90.84% 166.27%
Interest Expense -$2.800M -$3.000M -$3.200M
YoY Change -9.68% -6.25% -1166.67%
% of Operating Profit -115.8%
Other Income/Expense, Net -$5.369M -$2.998M -$3.193M
YoY Change 70.66% -6.11% -86.57%
Pretax Income -$2.951M -$4.286M -$17.25M
YoY Change -83.55% -75.16% -40.63%
Income Tax $100.0K $100.0K $15.00K
% Of Pretax Income
Net Earnings -$3.081M -$4.198M -$15.43M
YoY Change -83.72% -72.8% -46.99%
Net Earnings / Revenue -3.25% -4.81% -25.49%
Basic Earnings Per Share
Diluted Earnings Per Share -$54.10K -$73.43K -$271.1K
COMMON SHARES
Basic Shares Outstanding 57.27M shares 57.16M shares 56.75M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $282.7M $111.3M $145.1M
YoY Change 94.3% -23.29% -17.32%
Cash & Equivalents $215.4M $75.66M $145.1M
Short-Term Investments $67.30M $35.60M
Other Short-Term Assets $7.900M $6.800M $3.400M
YoY Change 97.5% 100.0% -40.35%
Inventory $32.66M $24.49M $23.44M
Prepaid Expenses
Receivables $38.55M $38.70M $31.83M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $361.8M $181.3M $203.8M
YoY Change 86.17% -11.06% -12.08%
LONG-TERM ASSETS
Property, Plant & Equipment $50.91M $41.13M $42.04M
YoY Change 22.57% -2.16% 23.07%
Goodwill $39.73M $39.76M $37.54M
YoY Change 1553.35% 5.93% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $98.00K $88.00K $4.687M
YoY Change -97.76% -98.12% -20.81%
Total Long-Term Assets $91.39M $81.76M $96.56M
YoY Change -7.48% -15.34% 3.28%
TOTAL ASSETS
Total Short-Term Assets $361.8M $181.3M $203.8M
Total Long-Term Assets $91.39M $81.76M $96.56M
Total Assets $453.2M $263.0M $300.4M
YoY Change 54.61% -12.43% -7.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.21M $21.61M $17.92M
YoY Change 16.64% 20.59% -3.73%
Accrued Expenses $33.73M $29.94M $26.44M
YoY Change -5.11% 13.22% 7.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $2.300M $6.200M
YoY Change -81.67% -62.9% -74.03%
Total Short-Term Liabilities $54.25M $55.18M $52.68M
YoY Change -8.72% 4.74% -26.01%
LONG-TERM LIABILITIES
Long-Term Debt $329.0M $175.7M $172.2M
YoY Change 89.2% 2.01% 3.83%
Other Long-Term Liabilities $4.888M $4.730M $2.921M
YoY Change 35.06% 61.93% 92.04%
Total Long-Term Liabilities $333.9M $180.4M $175.1M
YoY Change 88.1% 3.01% 4.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.25M $55.18M $52.68M
Total Long-Term Liabilities $333.9M $180.4M $175.1M
Total Liabilities $388.1M $235.6M $230.1M
YoY Change 63.08% 2.37% -5.09%
SHAREHOLDERS EQUITY
Retained Earnings -$671.3M -$668.2M -$605.3M
YoY Change 7.54% 10.4% 7.75%
Common Stock $57.00K $57.00K $57.00K
YoY Change 0.0% 0.0% 3.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $65.10M $27.44M $70.26M
YoY Change
Total Liabilities & Shareholders Equity $453.2M $263.0M $300.4M
YoY Change 54.61% -12.43% -7.66%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$3.081M -$4.198M -$15.43M
YoY Change -83.72% -72.8% -46.99%
Depreciation, Depletion And Amortization $3.620M $3.430M $3.680M
YoY Change -15.81% -6.79% 21.45%
Cash From Operating Activities $2.680M $3.680M $790.0K
YoY Change -69.34% 365.82% 54.9%
INVESTING ACTIVITIES
Capital Expenditures -$13.30M -$2.750M -$250.0K
YoY Change 425.69% 1000.0% -93.04%
Acquisitions
YoY Change
Other Investing Activities -$31.74M -$34.49M
YoY Change 572.46%
Cash From Investing Activities -$45.04M -$37.24M -$250.0K
YoY Change 522.1% 14796.0% -93.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 182.2M -2.410M -1.000M
YoY Change -19073.96% 141.0% -103.03%
NET CHANGE
Cash From Operating Activities 2.680M 3.680M 790.0K
Cash From Investing Activities -45.04M -37.24M -250.0K
Cash From Financing Activities 182.2M -2.410M -1.000M
Net Change In Cash 139.8M -35.97M -460.0K
YoY Change 25787.04% 7719.57% -101.54%
FREE CASH FLOW
Cash From Operating Activities $2.680M $3.680M $790.0K
Capital Expenditures -$13.30M -$2.750M -$250.0K
Free Cash Flow $15.98M $6.430M $1.040M
YoY Change 41.79% 518.27% -74.63%

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1956000 USD
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0 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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0 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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205000 USD
CY2016Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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48900000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1294000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
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1933000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Gross
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2067000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
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0 USD
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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0 USD
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933000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Net
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773000 USD
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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0 USD
CY2014 us-gaap Gains Losses On Extinguishment Of Debt
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-23200000 USD
CY2015Q2 us-gaap General And Administrative Expense
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13497000 USD
us-gaap General And Administrative Expense
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27039000 USD
CY2016Q2 us-gaap General And Administrative Expense
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15842000 USD
us-gaap General And Administrative Expense
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30581000 USD
CY2015Q4 us-gaap Goodwill
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39607000 USD
CY2016Q2 us-gaap Goodwill
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39763000 USD
CY2015Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015Q2 us-gaap Gross Profit
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30515000 USD
us-gaap Gross Profit
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59708000 USD
CY2016Q2 us-gaap Gross Profit
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50457000 USD
us-gaap Gross Profit
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94508000 USD
CY2015 us-gaap Impairment Of Intangible Assets Finitelived
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9000000 USD
CY2015Q4 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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9100000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-17252000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-27670000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4286000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-14911000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-17267000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-27709000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-4351000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-15040000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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-0.30
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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-0.49
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IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.08
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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-0.26
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1835000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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443000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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153000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-1639000 USD
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15000 USD
us-gaap Income Tax Expense Benefit
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39000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
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65000 USD
us-gaap Income Tax Expense Benefit
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129000 USD
us-gaap Increase Decrease In Accounts Receivable
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-6876000 USD
us-gaap Increase Decrease In Accounts Receivable
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-3672000 USD
us-gaap Increase Decrease In Deferred Revenue
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534000 USD
us-gaap Increase Decrease In Deferred Revenue
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-1020000 USD
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10336000 USD
us-gaap Increase Decrease In Inventories
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13099000 USD
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147000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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765000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-632000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2205000 USD
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3221000 USD
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3127000 USD
us-gaap Interest Expense Debt
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6223000 USD
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9432000 USD
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19702000 USD
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12024000 USD
CY2016Q2 us-gaap Inventory Net
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24486000 USD
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632000 USD
CY2016Q2 us-gaap Inventory Raw Materials
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1262000 USD
CY2015Q4 us-gaap Inventory Work In Process
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1960000 USD
CY2016Q2 us-gaap Inventory Work In Process
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3522000 USD
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241075000 USD
CY2016Q2 us-gaap Liabilities
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235601000 USD
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275126000 USD
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263045000 USD
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65156000 USD
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55181000 USD
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5319000 USD
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0 USD
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171698000 USD
CY2016Q2 us-gaap Long Term Debt Noncurrent
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175690000 USD
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400000 USD
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400000 USD
us-gaap Loss Contingency Claims Dismissed Number
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2 LegalMatter
CY2015Q2 us-gaap Loss Contingency New Claims Filed Number
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3 LegalMatter
us-gaap Net Cash Provided By Used In Financing Activities
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1248000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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-4601000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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-2703000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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41869000 USD
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41219000 USD
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-3193000 USD
us-gaap Nonoperating Income Expense
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-6345000 USD
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NonoperatingIncomeExpense
-2998000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5924000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
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OperatingExpenses
44574000 USD
us-gaap Operating Expenses
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81033000 USD
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OperatingExpenses
51745000 USD
us-gaap Operating Expenses
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103495000 USD
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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13681000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2181000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Rolling Year Four
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2146000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Rolling Year Three
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2169000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Rolling Year Two
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2162000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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3934000 USD
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1089000 USD
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88000 USD
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0 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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3000 USD
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3000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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403000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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11000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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411000 USD
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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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0 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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8000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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8000 USD
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3952000 USD
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4730000 USD
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28000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
55000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
129000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
299000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0 USD
us-gaap Other Operating Activities Cash Flow Statement
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132000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2427000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2610000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
35597000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4601000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5905000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
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5000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
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4283000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
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6838000 USD
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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0 USD
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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5714000 USD
us-gaap Proceeds From Issuance Of Common Stock
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6489000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1490000 USD
CY2014Q4 us-gaap Product Warranty Accrual
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2614000 USD
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2661000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3167000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4152000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4160000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4294000 USD
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1592000 USD
CY2016Q2 us-gaap Product Warranty Accrual Classified Current
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1583000 USD
CY2015Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2560000 USD
CY2016Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2711000 USD
CY2015Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
748000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1168000 USD
CY2016Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
978000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1997000 USD
CY2015Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1254000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1721000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1112000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2139000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
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41793000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
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41131000 USD
us-gaap Provision For Doubtful Accounts
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1180000 USD
us-gaap Provision For Doubtful Accounts
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1074000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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2814000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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3472000 USD
CY2015Q2 us-gaap Research And Development Expense
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12069000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20276000 USD
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ResearchAndDevelopmentExpense
12953000 USD
us-gaap Revenues
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168543000 USD
us-gaap Research And Development Expense
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25942000 USD
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1200000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
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1200000 USD
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CY2015Q2 us-gaap Revenues
Revenues
60551000 USD
us-gaap Revenues
Revenues
108699000 USD
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87330000 USD
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60551000 USD
us-gaap Sales Revenue Net
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108699000 USD
CY2016Q2 us-gaap Sales Revenue Net
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87330000 USD
us-gaap Sales Revenue Net
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168543000 USD
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19008000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
33718000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
22950000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
46972000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9630000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10784000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4515161 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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1345758 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
30.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
997000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
133936 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
791652 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6690000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2999199 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3592064 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.37
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.32
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
6470000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3258999 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.73
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
32.39
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
30.09
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5275000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2015Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
600000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
1000000 USD
CY2016Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
700000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
1700000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
64851 shares
CY2014Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
12600000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
34051000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
27444000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56808489 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56653430 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
57195963 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
57112769 shares
us-gaap Nature Of Operations
NatureOfOperations
<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-top:12px;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 small, lightweight, self-adhesive disposable tubeless Omnipod device which is worn on the body for approximately three days at a time and its wireless companion, the handheld PDM. 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 only 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-top:12px;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;">. Through Neighborhood Diabetes, the Company provided customers with blood glucose testing supplies, traditional insulin pumps, pump supplies and pharmaceuticals and had the ability to process claims as either durable medical equipment or through pharmacy benefits. In February 2016, the Company sold Neighborhood Diabetes to Liberty Medical LLC ("Liberty Medical"). Additional information regarding the disposition and treatment of the Neighborhood Diabetes business as discontinued operations is provided in note </font><font style="font-family:Arial;font-size:10pt;">3</font><font style="font-family:Arial;font-size:10pt;"> to the consolidated financial statements included in this Form 10-Q.</font></div><div style="line-height:120%;padding-top:12px;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, Canada and Israel.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition to using the Pod for insulin delivery, the Company also partners with global pharmaceutical and biotechnology companies to tailor the Omnipod technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas.&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In July 2015, the Company executed an asset purchase agreement whereby it acquired the Canadian Omnipod distribution operations from GlaxoSmithKline ("GSK"). With the acquisition, the Company assumed all distribution, sales, marketing, training and support activities for the Omnipod system in Canada.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassification of Prior Period Balance</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Certain reclassifications have been made to prior periods amounts to conform to the current period financial statement presentation including adjusting footnotes within to reflect the presentation of discontinued operations. These reclassifications have no effect on previously reported net loss.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<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-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 in the application of certain of its significant accounting policies that may materially affect the reported amounts of assets, liabilities, equity, revenue and expenses. The most significant estimates used in these financial statements include the valuation of stock-based compensation expense, acquired businesses, accounts receivable, inventories, goodwill, deferred revenue, 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>

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0001145197-16-000094-index-headers.html Edgar Link pending
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0001145197-16-000094.txt Edgar Link pending
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podd-20160630.xml Edgar Link completed
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