Filing Flows › Insulet (PODD) › Q2 2025
Insulet (PODD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Insulet (PODD) reported revenue of $649M for the second quarter 2025 (Q2 2025), +33% from a year earlier and +14% from the quarter before. Operating margin was 18.7%, net earnings $22.5M (3.5% of revenue).
Insulet, Q2 2025: revenue $649M (+33% year over year), operating margin 18.7%, net earnings $22.5M, operating cash flow $196M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $649M | +14% | +33% |
| Gross profit | $452M | +11% | +37% |
| Operating profit | $121M | +36% | +122% |
| Net earnings | $22.5M | -36% | -88% |
| Operating cash flow | $196M | +208% | +126% |
| Free cash flow | $178M | +245% | +177% |
What changed
Revenue was $649.1M in Q2 2025, up 33% year over year and up 14% from the previous quarter. U.S. was the largest line at 70% of revenue. U.S. added $100.9M year over year (up 29%), 63% of the total change.
Gross margin was 69.7%, up 1.9 points from a year earlier. Operating profit was $121.1M, a 18.7% margin (up 7.5 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 11% margin then. Operating expenses grew 20% against revenue growth of 33%. The fastest-growing cost line was Research & development (+36%). Net earnings were $22.5M, down 88% year over year. The effective tax rate was 20.8%.
Operating cash flow was $196.5M (up 126% year over year), 873% of net earnings. Non-cash charges added back $22.3M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items added $144.2M. Capital expenditures of $18.6M left free cash flow of $177.9M.
Questions
What was Insulet's revenue in the second quarter 2025?
Insulet (PODD) reported revenue of $649M for the second quarter 2025 (Q2 2025), +33% from a year earlier and +14% from the quarter before.
Was Insulet profitable in the second quarter 2025?
Operating profit was $121M (18.7% of revenue) and net earnings $22.5M.
Source: Insulet 10-Q on SEC EDGAR.