Insulet Corp. Files 10-Q for Q3 2024

TL;DR

**INSULET CORP 10-Q FILED: Q3 2024 FINANCIALS OUT NOW. CHECK FOR KEY METRICS.**

AI Summary

Insulet Corp. reported its financial results for the period ending September 30, 2024. The company's filing details its financial position and performance, with specific data points related to its operations and fiscal health. The report covers the third quarter of 2024, providing a snapshot of the company's financial standing as of that date.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look into Insulet Corp.'s financial performance and position as of the end of the third quarter of 2024, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the inherent risks of the medical device industry and company-specific factors can influence its impact.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter for which financial data is presented.)
• 2024-09-30 — As of Date (The date as of which the financial statements are prepared.)
• 2024-11-08 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• INSULET CORP (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date of the report
• 978-600-7000 (phone_number) — Business phone number for Insulet Corp.

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value Per Share PODD The NASDAQ Sto

Filing Documents

• podd-20240930.htm (10-Q) — 1201KB
• podd-exx311x2024x09x30_10q.htm (EX-31.1) — 10KB
• podd-exx312x2024x09x30_10q.htm (EX-31.2) — 10KB
• podd-exx321x2024x09x30_10q.htm (EX-32.1) — 7KB
• 0001145197-24-000045.txt ( ) — 7256KB
• podd-20240930.xsd (EX-101.SCH) — 45KB
• podd-20240930_cal.xml (EX-101.CAL) — 74KB
• podd-20240930_def.xml (EX-101.DEF) — 293KB
• podd-20240930_lab.xml (EX-101.LAB) — 600KB
• podd-20240930_pre.xml (EX-101.PRE) — 451KB
• podd-20240930_htm.xml (XML) — 1144KB

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 September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 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 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31

Signatures

Signatures 32 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) September 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 902.6 $ 704.2 Accounts receivable trade, less allowance for credit losses of $ 2.8 and $ 2.5 261.7 240.2 Accounts receivable trade, net — related party 113.9 119.5 Inventories 444.9 402.6 Prepaid expenses and other current assets 137.8 116.4 Total current assets 1,860.9 1,582.9 Property, plant and equipment, net 702.9 664.9 Other intangible assets, net 99.6 98.7 Goodwill 51.7 51.7 Deferred tax assets 144.4 1.8 Other assets (includes $ 14.1 and $ 31.3 at fair value) 165.9 188.2 Total assets $ 3,025.4 $ 2,588.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 40.3 $ 19.2 Accrued expenses and other current liabilities 414.2 373.7 Accrued expenses and other current liabilities — related party 9.7 8.9 Current portion of long-term debt 42.0 49.4 Total current liabilities 506.2 451.2 Long-term debt, net 1,356.3 1,366.4 Other liabilities 44.9 37.9 Total liabilities 1,907.4 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; 70,141,692 and 69,907,289 issued and outstanding 0.1 0.1 Additional paid-in capital 1,158.6 1,102.6 Accumulated deficit ( 60.4 ) ( 378.0 ) Accumulated other comprehensive income 19.7 8.0 Total stockholders' equity 1,118.0 732.7 Total liabilities and stockholders' equity $ 3,025.4 $ 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 September 30, Ni

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