Insulet Stock Earnings Reports

Insulet reported a strong start to 2026 with Q1 total revenue of $762M, up 34% reported (30% constant currency) and Omnipod revenue up 33% CC. U.S. revenue grew 28% (driven by Omnipod 5 adoption in type 1 and type 2), international revenue grew 45% CC with broad strength across Europe and Canada, and global customer base rose ~25% YoY. Adjusted operating margin expanded 110 bps to 17.5% and adjusted EPS rose ~40% to $1.42, helped by margin expansion and a $300M share repurchase in the quarter. Management raised full‑year 2026 company revenue growth guidance to 21%–23% (Omnipod revenue guidance also raised to 22%–24% for the year) and reiterated confidence in sustaining ~20% long‑term growth driven by continued product innovation, international penetration, and commercial investments. Key product and pipeline updates: integration with Libre 3 Plus this quarter, algorithm enhancements (including a new 100 mg/dL target option) and Omnipod Discover rollout in 2026; Omnipod 6 with a third‑generation algorithm planned for 2027; and a fully closed‑loop program for type 2 (pivotal EVOLVE enrolled). Operationally, Insulet executed a voluntary medical device correction in March, implemented targeted manufacturing fixes, and noted incremental Q1 impacts (about $12M) and some E&O as inventory transitioned for sensor/algorithm upgrades. The company continues to expand manufacturing capacity (Acton, Malaysia, Costa Rica), is increasing R&D and sales investments to support product launches and commercial expansion, expects ~100 bps of full‑year operating margin expansion while funding the investment step‑up, forecasts adjusted EPS growth >25% for 2026, and expects free cash flow roughly flat to 2025 while ramping capex for capacity expansion.