Insulet (PODD) Q2 FY2026 earnings: revenue $802 million, up 23.5% on the year

Insulet Corp. (PODD) reported revenue of $802 million for Q2 FY2026, the quarter ended 30 June 2026, up 23.5% on the same quarter a year earlier. Net income was $95 million, up 322.2% on the year, and diluted earnings per share $1.37. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue

$802 million

+23.5% on the year · +5.3% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

16.2%

18.7% a year earlier

Q3 FY2024Q2 FY2026

Net income

$95 million

+322.2% on the year · +4.3% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$1.37

+328.1% on the year · +5.4% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 3 lowered, 5 new, 1 kept.

Revenue rose 23.5%: Revenue was $801.7 million, up 23.5%, or 22.7% in constant currency, compared with $649.1 million in the prior year quarter.
Adjusted EPS rose 41.5%: Adjusted net income was $115.0 million, or $1.66 per diluted share. Adjusted net income rose 37.4% and adjusted diluted EPS rose 41.5% from $83.7 million and $1.17.
International up 35.5%: International Omnipod revenue was $251.8 million, up 35.5%. Constant currency growth was 32.9%, with currency adding 2.7 points.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	802	762	649	+5.3%	+23.5%
Cost of revenue	239	233	197	+2.8%	+21.4%
Gross profit	563	529	452	+6.3%	+24.4%
Gross margin	70.2%	69.5%	69.7%
Research and development	88.1	89.7	73.4	-1.8%	+20.0%
Selling, general and administrative	345	317	258	+8.7%	+33.8%
Operating income	130	122	121	+6.2%	+7.1%
Operating margin	16.2%	16.0%	18.7%
Interest expense	13.5	14.7	19.6	-8.2%	-31.1%
Pre-tax income	119	113	28.4	+5.0%	+318.0%
Income tax	23.7	21.9	5.9	+8.2%	+301.7%
Effective tax rate	20.0%	19.4%	20.8%
Net income	95.0	91.1	22.5	+4.3%	+322.2%
Net margin	11.8%	12.0%	3.5%
Diluted EPS	$1.37	$1.30	$0.32	+5.4%	+328.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	88.4	114	196	-22.3%	-55.0%
Capital expenditure	32.5	24.3	18.6	+33.7%	+74.7%
Free cash flow	55.9	89.5	178	-37.5%	-68.6%
Free cash flow margin	7.0%	11.8%	27.4%
Cash from investing	-37.4	-27.7	-23.2
Cash from financing	4.0	-320	-344
Depreciation and amortisation	26.7	26.2	22.3	+1.9%	+19.7%
Share-based compensation	19.7	21.3	7.5	-7.5%	+162.7%
Buybacks	0.0	300	30.1
Diluted shares, weighted	69m	70m	71m	-1.1%	-1.8%
Shares outstanding at period end	69m	69m	70m	+0.1%	-1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	1,422	1,303	1,463	+9.2%	-2.8%
Debt	948	948	1,400	+0.0%	-32.2%
Other liabilities	794	736	607	+7.9%	+31.0%
Total liabilities and equity	3,165	2,987	3,469	+6.0%	-8.8%
Goodwill	51.6	51.6	51.7	0.0%	-0.2%
Intangible assets	115	115	102	-0.1%	+12.5%
Cash and equivalents	535	480	1,122	+11.3%	-52.3%
Receivables	589	545	n/a	+8.1%
Inventory	485	462	447	+4.8%	+8.5%
Other assets	1,390	1,333	1,747	+4.3%	-20.4%
Total assets	3,165	2,987	3,469	+6.0%	-8.8%

Questions

What was Insulet's revenue in Q2 FY2026?

Insulet (PODD) reported revenue of $802 million for Q2 FY2026, the quarter ended 30 June 2026, up 23.5% on the same quarter a year earlier.

How much did Insulet earn in Q2 FY2026?

Net income for Q2 FY2026 was $95 million, up 322.2% on the year, and diluted earnings per share $1.37.

When did Insulet report Q2 FY2026 results?

Insulet filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 5 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	308	295	299	341	370	358	396	433	510	442	488	544	598	569	649	706	784	762	802	842
Cost of revenue	94.5	85.7	109	152	152	118	132	139	149	135	158	167	167	160	197	196	215	233	239	210
Gross profit	213	210	190	188	217	240	265	293	361	307	331	377	431	409	452	510	569	529	563	632
Gross margin	69%	71%	64%	55%	59%	67%	67%	68%	71%	69%	68%	69%	72%	72%	70%	72%	73%	69%	70%	75%
R&D	41.8	43.1	42.6	45.0	49.5	50.1	55.1	57.8	42.0	50.2	53.9	54.9	60.6	59.6	73.4	77.2	90.9	89.7	88.1	91.6
SG&A	n/a	129	174	140	144	163	179	181	213	200	222	234	261	261	258	315	332	317	345	351
Operating income	49.7	37.9	-26.7	2.9	23.5	27.7	31.1	54.8	106	56.9	54.6	88.1	109	88.8	121	118	146	122	130	190
Operating margin	16%	13%	-9%	1%	6%	8%	8%	13%	21%	13%	11%	16%	18%	16%	19%	17%	19%	16%	16%	23%
Interest expense	15.1	9.0	9.1	9.2	9.2	9.4	9.7	10.4	6.7	10.7	11.0	12.4	8.7	9.2	19.6	15.6	15.0	14.7	13.5	16.2
Pre-tax income	33.4	29.3	-36.1	-5.7	22.3	24.6	28.5	53.7	108	54.9	51.1	82.9	111	48.2	28.4	123	140	113	119	177
Tax rate	13%	5%	n/a	n/a	24%	3%	4%	3%	4%	6%	-269%	7%	10%	26%	21%	29%	28%	19%	20%	20%
Net income	29.2	27.8	-35.0	-5.2	17.0	23.8	27.3	51.9	103	51.5	189	77.5	101	35.4	22.5	87.6	102	91.1	95.0	141
Net margin	9%	9%	-12%	-2%	5%	7%	7%	12%	20%	12%	39%	14%	17%	6%	3%	12%	13%	12%	12%	17%
Diluted EPS	$0.43	$0.40	-$0.50	-$0.08	$0.24	$0.34	$0.39	$0.74	$1.44	$0.73	$2.59	$1.08	$1.39	$0.50	$0.32	$1.24	$1.44	$1.30	$1.37	$2.03
Operating cash flow	-25.5	-13.7	25.3	56.7	50.7	0.5	44.0	56.0	45.2	87.6	96.5	98.5	148	63.8	196	126	183	114	88.4	124
Capital expenditure	31.8	12.8	14.6	31.1	64.4	10.5	15.7	20.1	29.3	22.1	22.5	26.7	53.6	12.3	18.6	25.6	135	24.3	32.5	57.1
Free cash flow	-57.3	-26.5	10.7	25.6	-13.7	-10.0	28.3	35.9	15.9	65.5	74.0	71.8	94.1	51.5	178	100	48.2	89.5	55.9	66.4
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	0.0	30.1	29.5	0.0	300	0.0	0.0
Shares outstanding	69m	69m	69m	69m	70m	70m	70m	70m	70m	70m	70m	70m	70m	70m	70m	70m	70m	69m	69m	69m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 5 August 2026: the filing.