Insulet’s first quarter was marked by robust revenue growth, driven by continued adoption of its Omnipod 5 insulin delivery system across both U.S. and international markets. Management attributed the strength to expanding customer starts, especially in type 2 diabetes, and successful execution on commercial initiatives. CEO Ashley McEvoy noted, “Our first quarter performance clearly reflects the opportunity in our large and underpenetrated markets,” while also highlighting the positive contribution from recent product enhancements and persistent demand for automated insulin delivery (AID) solutions. Despite these achievements, the market responded negatively—reflecting concerns over seasonality and external pressures, such as a voluntary medical device correction, that contributed to a slower start than anticipated.
Is now the time to buy PODD? Find out in our full research report (it’s free for active Edge members).
Insulet (PODD) Q1 CY2026 Highlights:
- Revenue: $761.7 million vs analyst estimates of $730.9 million (33.9% year-on-year growth, 4.2% beat)
- Adjusted EPS: $1.42 vs analyst estimates of $1.19 (19.3% beat)
- Adjusted EBITDA: $181.7 million vs analyst estimates of $164.4 million (23.9% margin, 10.5% beat)
- Revenue Guidance for Q2 CY2026 is $785.4 million at the midpoint, below analyst estimates of $791.8 million
- Operating Margin: 16%, in line with the same quarter last year
- Constant Currency Revenue rose 30.1% year on year, in line with the same quarter last year
- Market Capitalization: $10.97 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Insulet’s Q1 Earnings Call
- David Roman (Goldman Sachs) asked CEO Ashley McEvoy to reflect on her first year and strategic priorities; McEvoy emphasized innovation, international focus, and commercial engine improvements as core themes to scale the business further.
- Robert Marcus (JPMorgan) pressed CFO Flavia Pease on the sustainability of 20% growth as growth rates decelerate into year-end; Pease cited innovation launches and expanded sales capacity as drivers for maintaining growth targets despite near-term moderation.
- Travis Steed (Bank of America) questioned type 2 diabetes retention and the difficulty of increasing penetration; McEvoy and COO Eric Benjamin explained early drop-offs are expected as type 2 users acclimate, but long-term retention remains strong.
- Larry Biegelsen (Wells Fargo) raised concerns about potential competition in tubeless pumps and the impact on market share; McEvoy responded that overall market expansion and new patient adoption should offset competitive pressures.
- Matthew O'Brien (Piper Sandler) inquired about pharmacy channel dynamics and the effect of the recent recall; McEvoy clarified that pricing remained positive and corrective actions have been implemented, with no material impact on new customer starts from the recall.
Catalysts in Upcoming Quarters
Looking ahead, the StockStory team will be watching (1) the commercial impact of the Libre 3 Plus sensor integration and broader algorithm upgrades, (2) the trajectory of international market penetration—especially in Spain and Canada following new launches and reimbursement milestones, and (3) retention trends as type 2 diabetes adoption increases and new support programs are rolled out. Continued progress in manufacturing scale and operational resilience will also be critical signposts.
Insulet currently trades at $158.69, down from $167.53 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it’s free).
Our Favorite Stocks Right Now
ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively.
Find out which 5 stocks it's flagging for this month - FREE. Get Our Top 5 Growth Stocks for Free HERE.
Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
