Insulet Corporation

Insulet Corporation develops, manufactures, and sells the Omnipod platform, a tubeless continuous insulin delivery system for people with insulin-dependent diabetes. Its core business is replacing multiple daily injections and traditional tubed pumps with wearable, disposable pod-based insulin delivery, supported by training, customer support, reimbursement, and billing services.

20,8 %

71,6 %

9,1 %

+30,7 %

2.81

2.15

— Insulet Corporation
%
Omnipod insulin delivery systems99% Tubeless wearable insulin delivery platforms, including Omnipod 5 and Omnipod DASH.
Pods and consumables1% Recurring disposable pods and related supplies used with the Omnipod platform.
Drug Delivery1% Pods sold to Amgen for use in the Neulasta Onpro delivery kit.

Insulet sells primarily to people with insulin-dependent diabetes, with demand driven by patients transitioning from...

  • Insulin-dependent diabetes patientsprimary

    Buy Omnipod 5 or Omnipod DASH to replace injections or tubed pumps and improve convenience.

  • Payors and health plansprimary

    Influence access and reimbursement by evaluating the clinical and economic value of Omnipod.

  • Pharmacy and distributor channelsecondary

    Buys and fulfills recurring pod orders, supporting scale and patient retention.

  • Clinicians and diabetes educatorssecondary

    Support adoption through training, onboarding, and patient education.

  • Amgenemerging

    Buys pods for the Neulasta Onpro kit, a small non-diabetes revenue stream.

Insulet generated most revenue in the United States, with international markets contributing a meaningful and...

  • •U.S. is the largest market and the main revenue driver
  • •International revenue is growing faster than the U.S. on Omnipod 5 launches
  • •Omnipod 5 rollout includes Australia, Canada, the Nordics, and France
  • •Manufacturing expansion includes Costa Rica and Malaysia
  • •Supply chain exposure includes third-party suppliers and a contract manufacturer in China

Insulet is focused on expanding Omnipod adoption, especially through Omnipod 5 conversions and new customer acquisition...

01
Expand Omnipod 5 adoptionshort-term

Recurring pod revenue depends on adding users and converting existing patients to the latest platform.

02
Scale global manufacturing and supply chainmedium-term

Growth requires enough capacity, quality control, and logistics to meet demand without service disruptions.

03
Improve customer retention and onboardingshort-term

Retention is critical because most revenue comes from recurring pod usage after initial adoption.

Insulet is highly dependent on the Omnipod platform, so any product performance issue, competitive loss, or...

critical

Dependence on Omnipod platform

Nearly all revenue comes from one product family, so any slowdown in adoption or retention would directly reduce sales.

Scope
Omnipod 5 and Omnipod DASH
Materiality
high
high

Competitive pressure in diabetes devices

The company competes with MDI therapy, smart pens, tubed pumps, and emerging patch pumps.

Scope
Patient acquisition and retention
Materiality
high
high

Supply chain and manufacturing disruption

The company relies on outside vendors, overseas suppliers, and manufacturing sites in multiple countries.

Scope
China supplier, Malaysia facility, Costa Rica expansion
Materiality
high
high

Cybersecurity and IT systems failure

Systems process sensitive medical, financial, and customer data and support core operations.

Scope
Cloud-hosted enterprise systems and third-party vendors
Materiality
high
medium

International and foreign exchange exposure

A growing share of revenue comes from outside the U.S., creating currency and regulatory exposure.

Scope
International Omnipod markets
Materiality
medium
Revenue recognition
Revenue and gross margin
Pharmacy rebates
Net sales
Inventory reserves and warranty
Cost of revenue and operating profit
Income taxes
Tax expense and effective tax rate
Capitalized software and manufacturing assets
Operating expenses, depreciation, and cash flow

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: 11/08/2026