PODD US S&P 500Russell 1000 Earnings call · transcribed from the recording
Insulet Corporation (PODD) · Q3 2026 results and valuation
Share price: $150.03 · 2026-11-11
Results Q3 2026 vs Q2 2026 · previous quarter · published 4 Nov 2026 and 5 Aug 2026
Net income up 48.5% on the previous quarter. Management sounded upbeat, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+48.5%
Net income vs Q2 2026
Outlook given
Net income 141.1M vs 95.0M
Revenue +5.0%
Against the same quarter last year (Q3 2025) it is +61.1%, so it is not just seasonal.
2 · How management spoke
Upbeat
More upbeat than 85% of company calls
Answers to analysts: very upbeat, in line with the script.
Last call it was different: the answers were less upbeat than the script.
3 · What stood out
Key theme
Insulet has the largest customer base in the industry.
Valuation
Is Insulet Corporation undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 20.0% growth a year (3-year revenue growth), the model's fair value is $267.00 a share — the stock trades 44% below it. Today's price assumes 12.2% growth a year.
Current price
$150.03
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+12.2% for 10 yrs
Fair value / share
$267.00
Buy below
$200.25
Price vs fair value
Undervalued 44%
Price vs buy-below price
Undervalued 25%
Read between the lines
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Guidance
Insulet expects the new platform to facilitate better targeting, more effective message delivery, faster decision-making, and closer collaboration over time.
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Guidance
In 2027, reflecting the timing of innovations and its much larger revenue base, Insulet expects its growth profile will moderate.
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Figure
In the third quarter, Insulet achieved revenue of $842 million, up nearly 20% year over year, with approximately 15% growth...
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Fading
Insulet delivered another quarter of strong revenue growth, expanding profitability and solid cash flow generation.
Source quote
“We delivered another quarter of strong revenue growth, expanding profitability and solid cash flow generation. Our performance reflected the strength of our differentiated business model and our team's dedication to improving the lives of people with diabetes around the world.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q2 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“It's a testament to the strength of our product and opportunity that we expect to still deliver top-tier growth on a multi-billion dollar revenue base and further expand profitability.”
“We are actively extending our leadership in automated insulin delivery and are confident that Omnipod will continue winning a leading share of MDI converts to AID, providing the foundation for...”
“We expect the pace of innovation across the category to increase next year, including our launch of Omnipod 6, which will accelerate market growth over time.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-09-30)
| Metric | Q3 2026period end 2026-09-30 | Q2 2026period end 2026-06-30 | Change | Q3 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 842.0M | 801.7M | +5.0% | 706.3M | +19.2% |
| Gross profit | 632.1M | 562.6M | +12.4% | 510.1M | +23.9% |
| Operating income | 189.8M | 129.7M | +46.3% | 117.7M | +61.3% |
| Net income | 141.1M | 95.0M | +48.5% | 87.6M | +61.1% |
| EPS | 2.03 | 1.37 | +48.2% | 1.24 | +63.7% |
| P/E today 23.9 | 21.3 | 28.6 | −7.3 | 90.0 | −68.7 |
Topics
Most discussed now
- New Yes, Insulet has much tighter governance, and the field is now implementing its revised governance policy, which is really around...
- Unless otherwise stated, all financial commentary regarding dollar and percentage changes will be on a year-over-year reported basis with...
- Insulet has a very strong, growing, leading customer base, the largest customer base in the industry that has been growing...
- The second is Insulet has added to its customer team clinical retention specialists, and they're trained, they're up and going.
- Insulet ases market leader have been driving the majority of that expansion and have been delivering revenue and customer rates...
Faded since Q2 2026
- Fading Insulet is acting decisively to enhance its commercial and customer service model, and it will continue to be transparent about what...
- Fading Global new customer starts increased both sequentially and year-over-year, resulting in Insulet's second highest quarter ever and…
- Fading Quarter adjusted operating margin increased 140 basis points year-over-year, supported by increased manufacturing productivity and the…
- Fading Adjusted gross margin performance was driven by continued manufacturing productivity gains across Insulet's Acton and Malaysia facilities…
Latest announcements
Official filings, newest first.
- Results of operations; Regulation FD disclosure · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Director or officer change · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Articles or bylaws amended; Shareholder vote results · SEC 8-K · routine