Filing Flows › Insulet (PODD) › Q4 2025
Insulet (PODD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Insulet (PODD) reported revenue of $784M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +11% from the quarter before. Operating margin was 18.7%, net earnings $102M (13.0% of revenue).
Insulet, Q4 2025: revenue $784M (+31% year over year), operating margin 18.7%, net earnings $102M, operating cash flow $183M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $784M | +11% | +31% |
| Gross profit | $569M | +11% | +32% |
| Operating profit | $146M | +24% | +34% |
| Net earnings | $102M | +16% | +0.9% |
| Operating cash flow | $183M | +46% | +24% |
| Free cash flow | $48.2M | -52% | -49% |
What changed
Revenue was $783.8M in Q4 2025, up 31% year over year and up 11% from the previous quarter. U.S. was the largest line at 72% of revenue.
Gross margin was 72.5%, up 0.4 points from a year earlier. Operating profit was $146.3M, a 18.7% margin (up 0.4 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 18% margin then. Operating expenses grew 31% against revenue growth of 31%. The fastest-growing cost line was Research & development (+50%). Net earnings were $101.6M, up 1% year over year. The effective tax rate was 27.5%.
Operating cash flow was $183.3M (up 24% year over year), 180% of net earnings. Non-cash charges added back $24.4M of depreciation and amortization and $20.3M of share-based compensation. Working capital and other items added $37.0M. Capital expenditures of $135.1M left free cash flow of $48.2M.
Questions
What was Insulet's revenue in the fourth quarter 2025?
Insulet (PODD) reported revenue of $784M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +11% from the quarter before.
Was Insulet profitable in the fourth quarter 2025?
Operating profit was $146M (18.7% of revenue) and net earnings $102M.
Source: Insulet 10-K on SEC EDGAR.