$PODD
INSULET CORP

2012 Q2 Form 10-Q Financial Statement

#000119312512222324 Filed on May 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q1
Revenue $51.04M $47.75M $28.26M
YoY Change 58.44% 68.99% 35.86%
Cost Of Revenue $28.70M $27.46M $14.73M
YoY Change 62.42% 86.47% 18.75%
Gross Profit $22.33M $20.30M $13.53M
YoY Change 53.6% 49.97% 61.11%
Gross Profit Margin 43.76% 42.5% 47.89%
Selling, General & Admin $26.33M $25.76M $16.22M
YoY Change 16.39% 58.84% 5.99%
% of Gross Profit 117.9% 126.92% 119.83%
Research & Development $6.521M $5.432M $4.589M
YoY Change -4.55% 18.37% 20.76%
% of Gross Profit 29.2% 26.76% 33.91%
Depreciation & Amortization $2.660M $2.844M $1.163M
YoY Change 57.4% 144.54% -19.24%
% of Gross Profit 11.91% 14.01% 8.59%
Operating Expenses $32.85M $31.19M $20.81M
YoY Change 11.53% 49.91% 8.93%
Operating Profit -$10.52M -$10.90M -$7.273M
YoY Change -29.47% 49.8% -32.03%
Interest Expense -$3.900M -$3.800M -$2.600M
YoY Change -13.33% 46.15% -31.58%
% of Operating Profit
Other Income/Expense, Net -$3.888M -$3.839M -$2.575M
YoY Change -13.75% 49.09%
Pretax Income -$14.41M -$14.73M -$9.848M
YoY Change -25.83% 49.61% -32.08%
Income Tax $69.00K $46.00K $0.00
% Of Pretax Income
Net Earnings -$14.48M -$14.78M -$9.848M
YoY Change 79.07% 50.08% -32.08%
Net Earnings / Revenue -28.36% -30.95% -34.85%
Basic Earnings Per Share
Diluted Earnings Per Share -$303.3K -$310.9K -$214.9K
COMMON SHARES
Basic Shares Outstanding 47.77M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.10M $83.00M $104.5M
YoY Change -34.3% -20.57% -11.67%
Cash & Equivalents $70.14M $83.01M $104.5M
Short-Term Investments
Other Short-Term Assets $4.300M $4.300M $1.800M
YoY Change -10.42% 138.89% -10.0%
Inventory $16.43M $14.70M $12.20M
Prepaid Expenses
Receivables $25.59M $26.20M $15.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $116.5M $128.2M $133.5M
YoY Change -21.86% -3.96% -6.12%
LONG-TERM ASSETS
Property, Plant & Equipment $21.42M $19.95M $14.30M
YoY Change 33.06% 39.49% -5.3%
Goodwill $37.54M $37.54M
YoY Change -1.39%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.503M $2.647M $1.100M
YoY Change -19.26% 140.64% -35.29%
Total Long-Term Assets $87.21M $87.46M $15.40M
YoY Change -2.77% 467.94% -8.33%
TOTAL ASSETS
Total Short-Term Assets $116.5M $128.2M $133.5M
Total Long-Term Assets $87.21M $87.46M $15.40M
Total Assets $203.7M $215.7M $148.9M
YoY Change -14.69% 44.85% -6.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.69M $16.11M $6.200M
YoY Change 45.61% 159.79% 87.88%
Accrued Expenses $13.54M $12.92M $8.700M
YoY Change 10.04% 48.46% -13.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.85M
YoY Change
Total Short-Term Liabilities $43.14M $32.58M $16.80M
YoY Change 62.18% 93.93% -6.15%
LONG-TERM LIABILITIES
Long-Term Debt $99.38M $110.8M $70.90M
YoY Change -4.62% 56.34% -27.8%
Other Long-Term Liabilities $2.068M $2.040M $1.500M
YoY Change -18.07% 36.0% -25.0%
Total Long-Term Liabilities $101.5M $112.9M $72.40M
YoY Change 3919.41% 55.92% -27.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.14M $32.58M $16.80M
Total Long-Term Liabilities $101.5M $112.9M $72.40M
Total Liabilities $144.6M $145.5M $89.10M
YoY Change 8.46% 63.26% -24.56%
SHAREHOLDERS EQUITY
Retained Earnings -$458.9M -$444.5M
YoY Change 14.23%
Common Stock $48.00K $48.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.09M $70.22M $59.80M
YoY Change
Total Liabilities & Shareholders Equity $203.7M $215.7M $148.9M
YoY Change -14.69% 44.85% -6.35%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income -$14.48M -$14.78M -$9.848M
YoY Change 79.07% 50.08% -32.08%
Depreciation, Depletion And Amortization $2.660M $2.844M $1.163M
YoY Change 57.4% 144.54% -19.24%
Cash From Operating Activities -$11.12M -$8.903M -$7.866M
YoY Change 22.47% 13.18% -14.31%
INVESTING ACTIVITIES
Capital Expenditures -$2.550M $1.699M $2.897M
YoY Change -4.14% -41.35% -365.78%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.550M -$1.699M -$2.897M
YoY Change -93.71% -41.35% 165.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $633.0K $2.515M
YoY Change -74.83% 312.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 810.0K -$347.0K 1.977M
YoY Change -98.44% -117.55% 224.1%
NET CHANGE
Cash From Operating Activities -11.12M -$8.903M -7.866M
Cash From Investing Activities -2.550M -$1.699M -2.897M
Cash From Financing Activities 810.0K -$347.0K 1.977M
Net Change In Cash -12.86M -$10.95M -8.786M
YoY Change -669.03% 24.62% -9.05%
FREE CASH FLOW
Cash From Operating Activities -$11.12M -$8.903M -$7.866M
Capital Expenditures -$2.550M $1.699M $2.897M
Free Cash Flow -$8.570M -$10.60M -$10.76M
YoY Change 33.49% -1.5% 33.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
47773642 shares
CY2011Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1836000
CY2011Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
104488000
CY2012Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2647000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.66
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-455803000
CY2012Q1 us-gaap Common Stock Value
CommonStockValue
48000
CY2012Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12916000
CY2012Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3463000
CY2012Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
2448000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2337953 shares
CY2012Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8400000
CY2012Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16567000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.52
CY2012Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
47906000
CY2012Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1063000
CY2012Q1 us-gaap Liabilities Current
LiabilitiesCurrent
32580000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.43
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1711993 shares
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
21590000
CY2012Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2631000
CY2012Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
110844000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.89
CY2012Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2033000
CY2012Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
26197000
CY2012Q1 us-gaap Assets
Assets
203942000
CY2012Q1 us-gaap Inventory Net
InventoryNet
14703000
CY2012Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
6.7 Year
CY2012Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
926000
CY2012Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47712076 shares
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2012Q1 us-gaap Assets Current
AssetsCurrent
127369000
CY2012Q1 us-gaap Goodwill
Goodwill
26647000
CY2012Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
970000
CY2012Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5568000
CY2012Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1640000
CY2012Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
10709000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
19436000
CY2012Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
83006000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
19.44
CY2012Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2012Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
3790000
CY2012Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
514633000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
CY2012Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
7172000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2718720 shares
CY2012Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
3434000
CY2012Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
33369000
CY2012Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
203942000
CY2012Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
58878000
CY2012Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47712076 shares
CY2012Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
32900000
CY2012Q1 us-gaap Deferred Revenue
DeferredRevenue
2600000
CY2012Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
27332000
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19947000
CY2012Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2012Q1 us-gaap Liabilities
Liabilities
145064000
CY2012Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
560000
CY2012Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
16107000
CY2012Q1 podd Number Of Financial Institution
NumberOfFinancialInstitution
2 Location
CY2012Q1 podd Percentage Of Total Accounts Receivables
PercentageOfTotalAccountsReceivables
0.10 pure
CY2012Q1 podd Number Of Customers With Greater Than Ten Percent Accounts Receivable Balance
NumberOfCustomersWithGreaterThanTenPercentAccountsReceivableBalance
0 Entity
CY2012Q1 podd Number Of Operating Segment
NumberOfOperatingSegment
1 Segment
CY2012Q1 podd Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1271000
CY2011Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
2597000
CY2011Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
50210000
CY2011Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1020000
CY2011Q4 us-gaap Liabilities Current
LiabilitiesCurrent
27995000
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.02
CY2011Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2582000
CY2011Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
108540000
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-441023000
CY2012Q1 podd Operating Lease Future Minimum Payments Year One
OperatingLeaseFutureMinimumPaymentsYearOne
1486000
CY2012Q1 podd Operating Lease Future Minimum Payments Year Two
OperatingLeaseFutureMinimumPaymentsYearTwo
988000
CY2012Q1 podd Operating Lease Future Minimum Payments Year Three
OperatingLeaseFutureMinimumPaymentsYearThree
45000
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1873000
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
113274000
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2727000
CY2011Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13064000
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2802000
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1960000
CY2011Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23190000
CY2011Q4 us-gaap Assets
Assets
209583000
CY2011Q4 us-gaap Common Stock Value
CommonStockValue
48000
CY2011Q4 us-gaap Inventory Net
InventoryNet
11838000
CY2011Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
931000
CY2011Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47504131 shares
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2011Q4 us-gaap Assets Current
AssetsCurrent
131785000
CY2011Q4 us-gaap Goodwill
Goodwill
26647000
CY2011Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
940000
CY2011Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3898000
CY2011Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1652000
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7951000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93955000
CY2011Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2011Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
512371000
CY2011Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
7021000
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2814591 shares
CY2011Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3528000
CY2011Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
30211000
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
209583000
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
71396000
CY2011Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47504131 shares
CY2011Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
32900000
CY2011Q4 us-gaap Deferred Revenue
DeferredRevenue
2700000
CY2011Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29002000
CY2011Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1977000
CY2011Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2011Q1 podd Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities
-287000
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19422000
CY2011Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2011Q4 us-gaap Liabilities
Liabilities
138187000
CY2011Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
359000
CY2011Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
11418000
CY2011Q4 podd Percentage Of Total Accounts Receivables
PercentageOfTotalAccountsReceivables
0.10 pure
CY2011Q4 podd Number Of Customers With Greater Than Ten Percent Accounts Receivable Balance
NumberOfCustomersWithGreaterThanTenPercentAccountsReceivableBalance
0 Entity
CY2011Q2 podd Service Agreement Term
ServiceAgreementTerm
P2Y
CY2011Q1 us-gaap Gross Profit
GrossProfit
13533000
CY2011Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-127000
CY2011Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2897000
CY2011Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
37000
CY2011Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9006000
CY2011Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2575000
CY2011Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1465000
CY2011Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
761000
CY2011Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7866000
CY2011Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
14725000
CY2011Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-9848000
CY2011Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1961000
CY2011Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
2612000
CY2011Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
538000
CY2011Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
367000
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-9848000
CY2011Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4589000
CY2011Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7724039 shares
CY2011Q1 us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
0
CY2011Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1163000
CY2011Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
724000
CY2011Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2897000
CY2011Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
2000000
CY2011Q1 us-gaap Sales Revenue Net
SalesRevenueNet
28258000
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7273000
CY2011Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2515000
CY2011Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8786000
CY2011Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
930000
CY2011Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
770000
CY2011Q1 us-gaap Operating Expenses
OperatingExpenses
20806000
CY2011Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-2405000
CY2011Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7211000
CY2011Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1545000
CY2011Q1 podd Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
45583242 shares
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Trading Symbol
TradingSymbol
PODD
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
INSULET CORP
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001145197
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 us-gaap Gross Profit
GrossProfit
20296000
CY2012Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-12000
CY2012Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
26000
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1699000
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
28000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1645000
CY2012Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12739000
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3839000
CY2012Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3906000
CY2012Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
801000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8903000
CY2012Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
116780 shares
CY2012Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
27458000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25591 shares
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-14734000
CY2012Q1 us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
1700000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
46500 shares
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2609000
CY2012Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
3867000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm
5.7 Year
CY2012Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
980000
CY2012Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
899000
CY2012Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition
1.2 Year
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-14780000
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5432000
CY2012Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2012Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2844000
CY2012Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
874000
CY2012Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9528703 shares
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1699000
CY2012Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>1. Nature of the Business</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Insulet Corporation (the &#x201C;Company&#x201D;) is principally engaged in developing, manufacturing and marketing an insulin infusion system for people with insulin-dependent diabetes. The Company was incorporated in Delaware in 2000 and has its corporate headquarters in Bedford, Massachusetts. Since inception, the Company has principally devoted its efforts to designing, developing, manufacturing and marketing the OmniPod Insulin Management System ( the &#x201C;OmniPod System&#x201D;), which consists of the OmniPod disposable insulin infusion device and the handheld, wireless Personal Diabetes Manager (&#x201C;PDM&#x201D;). The Company commercially launched the OmniPod System in August&#xA0;2005 after receiving FDA 510(k) approval in January&#xA0;2005. The first commercial product was shipped in October&#xA0;2005.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">In January&#xA0;2010, the Company entered into a five year distribution agreement with Ypsomed Distribution AG (&#x201C;Ypsomed&#x201D;), pursuant to which Ypsomed became the exclusive distributor of the OmniPod System in numerous countries. The Company entered into an amendment to the distribution agreement in April 2012 which increased the number of countries and extended the expiration of the agreement for an additional year. Through the Company&#x2019;s partnership with Ypsomed, the OmniPod System is now available in Germany, the United Kingdom, the Netherlands, and Switzerland. In February 2011, the Company entered into a distribution agreement with GlaxoSmithKline Inc. (&#x201C;GSK&#x201D;), pursuant to which GSK became the exclusive distributor of the OmniPod System in Canada. GSK began distributing the OmniPod System in Canada during the third quarter of 2011.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">In June 2011, the Company completed the acquisition of Neighborhood Holdings, Inc. and its wholly-owned subsidiaries (collectively &#x201C;Neighborhood Diabetes&#x201D;), a leading durable medical equipment distributor, specializing in direct to consumer sales of diabetes supplies. Neighborhood Diabetes is based in Massachusetts with additional facilities in New York and Florida. Neighborhood Diabetes serves more than 60,000 customers with Type 1 and Type 2 diabetes primarily in the northeast and southeast regions of the United States. Neighborhood Diabetes supplies these customers with blood glucose testing supplies, insulin pumps, pump supplies and pharmaceuticals, as well as other products for the treatment and management of diabetes. See Footnote 3 for further description of the acquisition.</font></p> </div>
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
2600000
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
47754000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10895000
CY2012Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><i>Use of Estimates in Preparation of Financial Statements</i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">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 inventories, accounts receivable and equity instruments, the lives of property and equipment and intangible assets, as well as warranty and doubtful accounts reserve calculations. Actual results may differ from those estimates.</font></p> </div>
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
633000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-10949000
CY2012Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
729000
CY2012Q1 us-gaap Finite Lived Intangible Assets Weighted Average Useful Life
FiniteLivedIntangibleAssetsWeightedAverageUsefulLife
10 Year
CY2012Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
20000
CY2012Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2865000
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
31191000
CY2012Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
49000
CY2012Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13020000
CY2012Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2452000
CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.31
CY2012Q1 podd Product Warranty Term
ProductWarrantyTerm
P4Y
CY2012Q1 podd Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities
4536000
CY2012Q1 podd Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
47607449 shares
CY2012Q1 podd Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitures
0.16 pure
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-347000
CY2012Q1 podd Return Period
ReturnPeriod
P45D

Files In Submission

Name View Source Status
0001193125-12-222324-index-headers.html Edgar Link pending
0001193125-12-222324-index.html Edgar Link pending
0001193125-12-222324.txt Edgar Link pending
0001193125-12-222324-xbrl.zip Edgar Link pending
d328525d10q.htm Edgar Link pending
d328525dex101.htm Edgar Link pending
d328525dex102.htm Edgar Link pending
d328525dex103.htm Edgar Link pending
d328525dex311.htm Edgar Link pending
d328525dex312.htm Edgar Link pending
d328525dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
podd-20120331.xml Edgar Link completed
podd-20120331.xsd Edgar Link pending
podd-20120331_cal.xml Edgar Link unprocessable
podd-20120331_def.xml Edgar Link unprocessable
podd-20120331_lab.xml Edgar Link unprocessable
podd-20120331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending