Insulet Corp. Files 10-Q for Q2 2024

TL;DR

INSULET CORP 10-Q FILED: Q2 2024 FINANCIALS OUT

AI Summary

Insulet Corp. reported its financial results for the period ending June 30, 2024. The company's filing details its financial position and performance, including various financial metrics and disclosures relevant to its operations in surgical and medical instruments.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look into Insulet Corp.'s financial health and operational performance during the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a medical device company, Insulet Corp. faces risks related to product development, regulatory approvals, market competition, and reimbursement policies.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures are not detailed in the provided header information.)
• N/A — Total Assets (Specific total asset figures are not detailed in the provided header information.)

Key Players & Entities

• INSULET CORP (company) — Filer
• 0001145197-24-000039 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240809 (date) — Filed as of Date
• 3841 (sic_code) — Standard Industrial Classification
• DE (state) — State of Incorporation
• 978-600-7000 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value Per Share PODD The NASDAQ Sto
• $1,000 — te of 4.4105 shares of common stock per $1,000 principal amount of the notes, which is

Filing Documents

• podd-20240630.htm (10-Q) — 1199KB
• podd-exx103x2024x06x30_10q.htm (EX-10.3) — 29KB
• podd-exx104x2024x06x30_10q.htm (EX-10.4) — 72KB
• podd-exx311x2024x06x30_10q.htm (EX-31.1) — 10KB
• podd-exx312x2024x06x30_10q.htm (EX-31.2) — 10KB
• podd-exx321x2024x06x30_10q.htm (EX-32.1) — 7KB
• 0001145197-24-000039.txt ( ) — 7316KB
• podd-20240630.xsd (EX-101.SCH) — 42KB
• podd-20240630_cal.xml (EX-101.CAL) — 71KB
• podd-20240630_def.xml (EX-101.DEF) — 292KB
• podd-20240630_lab.xml (EX-101.LAB) — 594KB
• podd-20240630_pre.xml (EX-101.PRE) — 449KB
• podd-20240630_htm.xml (XML) — 1143KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets (Unaudited) as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income (Unaudited) for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the three and six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

Signatures

Signatures 31 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) INSULET CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except share and per share data) June 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 821.0 $ 704.2 Accounts receivable trade, less allowance for credit losses of $ 2.8 and $ 2.5 249.0 240.2 Accounts receivable trade, net — related party 99.6 119.5 Inventories 430.9 402.6 Prepaid expenses and other current assets 148.3 116.4 Total current assets 1,748.8 1,582.9 Property, plant and equipment, net 677.9 664.9 Other intangible assets, net 98.5 98.7 Goodwill 51.7 51.7 Deferred tax assets 141.1 1.8 Other assets (includes $ 23.4 and $ 31.3 at fair value) 163.6 188.2 Total assets $ 2,881.6 $ 2,588.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 76.8 $ 19.2 Accrued expenses and other current liabilities 365.0 373.7 Accrued expenses and other current liabilities — related party 6.3 8.9 Current portion of long-term debt 37.9 49.4 Total current liabilities 486.0 451.2 Long-term debt, net 1,359.9 1,366.4 Other liabilities 37.3 37.9 Total liabilities 1,883.2 1,855.5 Commitments and contingencies (Note 12) Stockholders' Equity Preferred stock, $ .001 par value, 5,000,000 authorized; none issued and outstanding — — Common stock, $ .001 par value, 100,000,000 authorized; 70,112,039 and 69,907,289 issued and outstanding 0.1 0.1 Additional paid-in capital 1,140.6 1,102.6 Accumulated deficit ( 137.9 ) ( 378.0 ) Accumulated other comprehensive (loss) income ( 4.4 ) 8.0 Total stockholders' equity 998.4 732.7 Total liabilities and stockholders' equity $ 2,881.6 $ 2,588.2 The accompanying notes are an integral part of these condensed consolidated finan ci al statements. 3 Table of Contents INSULET CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended June 30, Six

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