Insulet (PODD) 46th Annual William Blair Growth Stock Conference summary

Strategic and financial highlights

• Achieved $2.7 billion in global revenue for 2025, serving over 600,000 customers across 25 markets, and holds leading positions in automated insulin delivery systems in the U.S. and EU.

• Q1 2026 revenue reached $761.7M, up 33.9% YoY (30.1% constant currency), with U.S. Omnipod revenue at $515.6M and international at $242.9M.

• Increased 2026 full-year revenue guidance to 21%-23% growth, with adjusted operating margin expanding ~100bps YoY and adjusted EPS growth over 25%.

• Delivered 25% compound annual revenue growth and 55% compound annual EPS growth over the past five years, with free cash flow increasing by $558M.

• Projecting 20% compound annual revenue growth and 100 basis points annual margin expansion from 2026 to 2028.

Product innovation and pipeline

• Launched second-generation Omnipod 5 algorithm for tighter glycemic control and improved automation, with expanded compatibility with FreeStyle Libre 3 Plus.

• Omnipod 6 pivotal study results to be presented at ADA; launches planned for FSL3+ in Germany and Canada, and entry into Spain in 2H2026.

• Omnipod 6, featuring a third-generation algorithm and over-the-air updates, to launch in 2027.

• Developing a fully closed-loop system for type 2 diabetes, aiming for self-start at home and minimal patient interaction, targeting launch by 2028.

• Investing over $1 billion in R&D over the next three years to support innovation, clinical evidence, manufacturing, and supply chain resilience.

Market opportunity and expansion

• Total addressable market exceeds $30B, with ~8M people with diabetes targeted today and line of sight to $9B AID market by 2028.

• U.S. type 1 market is $9 billion and 40% penetrated; global type 1 market is $10 billion and 25% penetrated.

• U.S. type 2 basal-bolus market is $12 billion and only 5% penetrated, representing significant growth potential.

• Expanding sales force by more than 10% to reach thousands of additional prescribers and 150,000 more potential customers.

• Plans to leverage T1D momentum outside the U.S., broaden into U.S. T2D basal-only, and expand into Asia.