Insulet earnings: guidance and what to watch
MyStockButler's October 2026 analysis: Insulet's next results are expected on November 4, 2026. Watch whether patients continue after their first prescription.
What has Insulet guided for 2026?
Insulet now guides to U.S. Omnipod revenue growth of 17.0%–19.0% in 2026, down from 20.0%–22.0%. International Omnipod growth is expected at 30.0%–32.0% in constant currency, which removes the effect of exchange rates. Including currency, the international forecast is 33.0%–35.0%, so overseas growth cushions the U.S. slowdown without eliminating it.
The company kept its profit promises even as it cut sales guidance. Total-company growth is now expected at 20.0%–22.0% at constant currency, while management still targets 100 basis points of adjusted operating-margin expansion and adjusted earnings-per-share growth of at least 30.0%.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| U.S. Omnipod, Constant Currency | Year to Dec 2026 | 17.0% | 19.0% | Aug 5, 2026 |
| International Omnipod, Constant Currency | Year to Dec 2026 | 30.0% | 32.0% | Aug 5, 2026 |
| Total Omnipod, Constant Currency | Year to Dec 2026 | 21.0% | 23.0% | Aug 5, 2026 |
| Total, Constant Currency | Year to Dec 2026 | 20.0% | 22.0% | Aug 5, 2026 |
| Adjusted Operating Margin, YoY expansion (bps) | Year to Dec 2026 | 100 | 100 | Aug 5, 2026 |
| Adjusted EPS Growth | Year to Dec 2026 | 30.0% | Aug 5, 2026 |
What this means. The adjusted operating margin row shows an increase of about one percentage point from the prior year, not the company’s total operating margin.
Did Insulet keep its past promises?
Management has beaten or met all 32 selected quarterly comparisons, but those measures overlap. The record supports confidence in near-term execution, not proof that management correctly judged a new patient population. It attributed roughly two-thirds of the latest reset to type 2 retention and utilization, so the next test is whether patients continue after their first prescription.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Total | 8 quarters | 8 | 0 | 0 |
| U.S. Omnipod | 8 quarters | 7 | 1 | 0 |
| International Omnipod | 8 quarters | 8 | 0 | 0 |
| Total Omnipod | 8 quarters | 8 | 0 | 0 |
What this means. The total row is the overall result, so do not add it to the Omnipod rows because those rows are already parts of the total.
What do Insulet's last eight quarters show?
The June 2026 quarter showed healthy sales growth, but weaker conversion into operating profit and cash.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 801.7 | 761.7 | 783.8 | 706.3 | 649.1 | 569.0 | 597.5 | 543.9 |
| Gross margin | 70.2% | 69.5% | 72.5% | 72.2% | 69.7% | 71.9% | 72.1% | 69.3% |
| Operating income | 129.7 | 122.1 | 146.3 | 117.7 | 121.1 | 88.8 | 109.3 | 88.1 |
| Net income | 95.0 | 91.1 | 101.6 | 87.6 | 22.5 | 35.4 | 100.7 | 77.5 |
| EPS, diluted | 1.37 | 1.30 | 1.44 | 1.24 | 0.32 | 0.50 | 1.39 | 1.08 |
| = Free cash flow | 55.9 | 89.5 | 48.2 | 100.1 | 177.9 | 51.5 | 93.9 | 81.6 |
What this means. The cash flow numbers for each quarter are calculated from year-to-date totals, so they are not always the exact amounts reported for that quarter alone.
What should I watch in Insulet's next results?
The first checkpoint is the November 4, 2026 third-quarter earnings call. It will test the reduced outlook and reveal whether international growth continues to offset slower U.S. growth. The February 2027 fourth-quarter call should provide formal 2027 guidance and a revised long-range outlook. Meeting a lowered forecast would not establish the longer-term growth rate.