Insulet (PODD) Investor Day 2025 summary

Strategic vision and market opportunity

• Aims to expand AID penetration across type 1 and type 2 diabetes, targeting a $30B TAM and growing the Podder base to over 1 million by 2028.

• Seeks to make AID the standard of care for both T1D and T2D, holding #1 market share in the U.S. and Europe and focusing on deepening penetration and entering new geographies, including Asia and the Middle East.

• U.S. type 1 penetration targeted to rise from 40% to 50-55%, with type 2 penetration more than doubling by 2028.

• Internationally, aims to increase type 1 penetration from 25% to 30-35% and expand in EU5, Canada, Australia, Saudi Arabia, Asia, and the Middle East.

• Emphasizes a unique position at the intersection of medtech, healthcare, and consumer, with a purpose-driven, innovation-led culture and strong brand loyalty.

Innovation roadmap and product pipeline

• Omnipod 5 enhancements in 2026: lower glucose target, improved algorithms, full CGM integration (including Libre 3+), and new digital tools like the Discover data platform.

• Omnipod 6 to launch in 2027, featuring a fully closed-loop system for T2D, improved adaptive algorithm, new hardware for better connectivity, and a universal pod (OnePod) with a new app experience.

• Post-2028 pipeline includes higher insulin capacity, longer wear, next-gen hardware platforms, and continued investment in fully closed-loop systems for both T1D and T2D.

• Over $1B in R&D investment planned over the next three years, supported by a strong IP portfolio with 889 active patents and 711 applications filed.

• Ongoing investment in clinical evidence and innovation to support product adoption and guideline changes.

Financial guidance and growth algorithm

• Projects 29–30% total revenue growth in 2025, with U.S. Omnipod up 26–27% and international Omnipod up 38–39% in constant currency.

• Targets 20%+ revenue CAGR and 100 basis points annual operating margin expansion through 2028, with adjusted EPS expected to grow at 25%+ CAGR.

• Expects global install base to grow from ~600K in 2025 to over 1M by 2028.

• Investments in automation and global manufacturing (Acton, Malaysia, Costa Rica) to support scalable, cost-efficient growth, with SG&A as a percent of sales expected to decline.

• Maintains a strong financial position with robust cash flow, disciplined capital allocation, and accelerating free cash flow generation.