Insulet Corporation (PODD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Insulet published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Insulet reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• In Q3 2026 GAAP results included a $4.5 million benefit from lowering the estimated warranty cost of the voluntary medical device corrections Insulet issued in March and May 2026. Adjusted EPS removes it, which is why adjusted EPS ($1.99) is below GAAP EPS ($2.03).

Source: Insulet Q3 2026 results (Form 8-K, Exhibit 99.1), November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Insulet splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Insulet's Total Omnipod Products revenue was $837 million in Q3 2026, up 20% from $699 million in Q3 2025, 99% of total revenue.
• Insulet's Drug Delivery revenue was $5.5 million in Q3 2026, down 23% from $7.1 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Insulet gives its full-year outlook as a table of revenue growth rates in constant currency, raised on November 4, 2026. The rows are quoted as printed.

In its Q3 2026 release, Insulet said:

“For the year ending December 31, 2026, the Company is providing the following guidance (revenue in constant currency)”

“U.S. Omnipod 17.5%-18.5%”

“International Omnipod 32%-33%”

“Total Omnipod 21.5%-22.5%”

Source: Insulet Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PODD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's earnings release.

We do not hold a confirmed date for Insulet's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Insulet's revenue is almost all Omnipod tubeless insulin pumps and Pods: $836.6 million of the $842.0 million total in Q3 2026. U.S. Omnipod revenue was $570.4 million and International Omnipod revenue $266.2 million. The remaining $5.5 million is Drug Delivery, which is substantially all Pods sold to Amgen for the Neulasta Onpro kit. Total revenue rose 19.2%, or 19.6% in constant currency, slightly above the top of Insulet's guidance range of 17.5%-19.5%. (Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Insulet said U.S. Omnipod revenue rose 14.7% mainly on higher sales volume from growth in its customer base. In the U.S. it sells through the pharmacy channel, which removes upfront costs for users. The 10-Q notes that sales to one distributor counted as related party transactions for part of 2025, and U.S. revenue in Q3 2025 included $184.5 million of sales to that distributor. (Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Insulet's International Omnipod revenue rose 31.7%, or 33.0% excluding a 1.3% unfavorable currency impact. The company attributed the increase to higher volumes and, to a lesser extent, higher average selling prices as users moved from Omnipod DASH to Omnipod 5. During 2026 it launched Omnipod 5 in five Middle East countries and in Spain, and extended integration with Abbott's FreeStyle Libre 3 Plus sensor to 10 more countries. (Insulet Form 10-Q, Q3 2026, Nov 4, 2026; Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Drug Delivery revenue fell to $5.5 million from $7.1 million on lower order volumes from Amgen, and was $14.6 million for the first nine months against $32.2 million a year earlier. Omnipod 5, Insulet's automated insulin delivery system, works with Dexcom G6 and G7 and Abbott FreeStyle Libre continuous glucose monitors, which are sold separately by third parties. (Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Insulet's GAAP diluted EPS was $2.03 in Q3 2026, against $1.24 a year earlier, and adjusted diluted EPS was $1.99, up 59.9%. GAAP was the higher figure this quarter because it included a $4.5 million operating benefit ($0.05 per share) from cutting the estimated cost of its voluntary medical device corrections (MDCs). The two corrections, issued in March and May 2026, covered manufacturing issues that caused a tear in the cannula of certain Omnipod products. Insulet estimates total MDC costs at about $50 million, most of it in 2026. (Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Insulet's gross margin was 75.1%, against 72.2% a year earlier. The company credited improved manufacturing efficiencies and a 90 basis point benefit from the MDC warranty adjustment. Operating margin rose 590 basis points to 22.5%, and the effective tax rate fell to 20.4% from 28.7%. GAAP and adjusted EPS were both $1.24 in the year-ago quarter: adjusted EPS removed a $12.5 million gain on a derivative asset tied to Insulet's convertible notes and added back tax matters and CFO transition costs. (Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Insulet's diluted weighted-average shares fell to 69,492 thousand from 70,661 thousand. It repurchased $300.0 million of stock in the first nine months of 2026 through accelerated share repurchase agreements, and its board approved a new $1 billion repurchase program, of which Insulet expects to spend about $400 million in Q4 2026 from existing cash. (Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Insulet Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Insulet publishes a full-year outlook in its release and raised it on November 4, 2026. In constant currency it now expects total revenue growth of 21%-22% (previously 20%-22%), U.S. Omnipod growth of 17.5%-18.5%, International Omnipod growth of 32%-33% and a Drug Delivery decline of about 40%. It also raised its adjusted operating margin outlook to about 150 basis points of expansion and kept adjusted EPS growth above 30%. (Insulet Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Insulet, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Insulet's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PODD is on is PODD a buy or a sell?, what analysts expect next is on the PODD forecast, and what the company does is on the Insulet Corporation (PODD) stock page.

Every number on this page can be traced to a document Insulet published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.