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Screener / SEC EDGAR /CIK 0001145197 /10-K filed Feb 18, 2026, compared with Feb 21, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
MRNACRLVEEVPODDWSTRVTY
Nasdaq Health care · Medical Instruments

Insulet Corporation PODD

PODD quote by TradingView

Insulet Corporation (“we” or the “Company”) is primarily engaged in the development, manufacture, and sale of its proprietary continuous insulin delivery systems for people with insulin-dependent diabetes. 10-K, Item 1

Employees
5,400
Headquarters
Acton, MA
CEO
Ashley McEvoy
Next results
around Feb 17, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $2.7B through the costs to a net profit of $247.1M · income statement of the 10-K

17% operating margin
Revenue to Gross profit: $1.9BRevenue to Cost of revenue: $768.2MGross profit to Operating profit: $473.8MGross profit to Operating expenses: $1.5BOperating profit to Net profit: $247.1MOperating profit to Tax & other: $226.7MOperating expenses to R&D: $301.1MOperating expenses to SG&A: $1.2B Revenue: $2.7B REVENUE $2.7B +31% Y/Y Gross profit: $1.9B · 72% margin GROSS PROFIT $1.9B 72% margin · +34% Y/Y Cost of revenue: $768.2M · 28% of revenue COST OF REVENUE $768.2M 28% of revenue Operating profit: $473.8M · 17% margin OPERATING PROFIT $473.8M 17% margin · +53% Y/Y Operating expenses: $1.5B · 54% of revenue OPERATING EXPENSES $1.5B 54% of revenue Net profit: $247.1M · 9% margin NET PROFIT $247.1M 9% margin · −41% Y/Y Tax & other: $226.7M · 8% of revenue TAX & OTHER $226.7M 8% of revenue R&D: $301.1M · 11% of revenue R&D $301.1M 11% of revenue SG&A: $1.2B · 43% of revenue SG&A $1.2B 43% of revenue
Gross profit $1.9B 72% margin · +34% Y/Y
Operating profit $473.8M 17% margin · +53% Y/Y
Net profit $247.1M 9% margin · −41% Y/Y
The full income statement, year by year

PODD among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 30.7%, above 98% of 59 peers (their median 7.1%) REVENUE GROWTH 30.7% · above 98% Gross margin: 71.9%, above 78% of 50 peers (their median 64.2%) GROSS MARGIN 71.9% · above 78% Operating margin: 18.4%, above 64% of 50 peers (their median 13.4%) OPERATING MARGIN 18.4% · above 64% Net margin: 13.4%, above 58% of 59 peers (their median 9.5%) NET MARGIN 13.4% · above 58% FCF margin: 8.2%, above 25% of 55 peers (their median 15.8%) FCF MARGIN 8.2% · above 25% Return on capital: 13.6%, above 78% of 41 peers (their median 9.0%) RETURN ON CAPITAL 13.6% · above 78%
PODD Peer median Below the median

What changed

13 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 18, 2026 against Feb 21, 2025.

Risk factors
13 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Auditor change
8-K item 4.01 (change in certifying accountant) filed Dec 19, 2025
10-K · XBRL
Accounting checks
8 other checks clear, 1 worth a look
10-K · XBRL
Insiders
1 open-market buy in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

9 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 8 checks found nothing to note

  • Auditor change
    8-K item 4.01 (change in certifying accountant) filed Dec 19, 2025
  • Cash from operations $569.3M vs net income $247.1M (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • Inventory +5.2% vs revenue +30.7% (-25.6 pts)
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

13 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.

All 13 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    Moreover, compliance with administrative procedures or requirements of third-party payors may result in delays in the payor processing approvals for coverage of Omnipod products. Coverage decisions and rates of reimbursement increasingly require clinical evidence showing an improvement in user outcomes. Generating this clinical evidence…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    Our failure to compete effectively would negatively impact our revenue and results of operations. The competitive landscape in our industry continues to undergo significant change. We compete with established companies that produce insulin pumps, such as Medtronic Diabetes, a division of Medtronic plc (which division is being spun out…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    A significant element of our strategy is to increase revenue growth by continuing to focus on innovation and new product development. The results of our product development efforts may be affected by a number of factors, including our ability to anticipate customer needs, innovate and develop new products and technologies, successfully…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    We may be unable to adequately protect our intellectual property rights, which could limit our ability to sell our products profitably, or at all, and cause us to incur additional costs.

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$1.3B$1.7B$2.1B$2.7B
Net income$4.6M$206.3M$418.3M$247.1M
Operating cash flow$119.0M$145.7M$430.2M$569.3M
Free cash flow−$3.9M$70.1M$305.3M$377.7M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$2.7B ▲ 30.7% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Insulet Corporation, Acton, MA · from the 10-K filed Feb 18, 2026

Insulet Corporation (“we” or the “Company”) is primarily engaged in the development, manufacture, and sale of its proprietary continuous insulin delivery systems for people with insulin-dependent diabetes. The Omnipod platform includes: the Omnipod® 5 Automated Insulin Delivery System (“Omnipod 5”), the Omnipod DASH® Insulin Management System (“Omnipod DASH”), and the Omnipod Insulin Management System (“Classic Omnipod”).

Headquarters
Acton, MA
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
December 31
Last results
Nov 4, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we had approximately 5,400 full-time employees, representing a 38% increase over the prior year" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 18, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/PODD/export.csv") into a cell.