Insulet surges on strong Q4 results, raised 2026 guidance
Medical device maker posts 31% revenue growth, expands share buyback program as Omnipod demand accelerates
Insulet Corporation shares climbed in Wednesday morning trading after the medical device maker reported fourth-quarter results that topped analyst expectations and raised guidance for 2026, signaling accelerating demand for its Omnipod insulin delivery systems.
The Acton, Massachusetts-based company reported fourth-quarter revenue of $783.8 million, a 31.2% increase from the same period last year and ahead of consensus estimates. Full-year 2025 revenue reached $2.7 billion, representing 30.7% year-over-year growth and marking the company's tenth consecutive year of achieving 20% or greater constant currency revenue growth.
The strong performance was driven by expanding adoption of the Omnipod 5 system, which received FDA clearance for algorithm enhancements in December 2025. The company reported over 600,000 estimated active Omnipod users globally as of December 31, 2025, with Insulet ranking first in new customer starts in both the United States and Europe during 2025.
"We ended the year with an excellent quarter, demonstrating the strength of our business model, technology, and disciplined execution," said Ashley McEvoy, President and CEO. "We enter 2026 with a stronger competitive position than ever before, powered by our leadership in innovation, scale, and customer trust."
Looking ahead, Insulet raised its 2026 guidance, projecting total revenue growth of 20% to 22% in constant currency, adjusted operating margin expansion of approximately 100 basis points, and adjusted EPS growth exceeding 25%. The company anticipates first-quarter 2026 revenue growth of 25% to 27% in constant currency.
In a move that signals confidence in its financial position, Insulet's board approved a $350 million increase to its share repurchase authorization, with approximately $415 million remaining under the program. The company plans to allocate approximately $300 million toward repurchases in the first quarter of 2026.
The strong results come as Insulet continues expanding its international footprint, having launched Omnipod 5 in several Middle Eastern countries including Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates in early February 2026. The company expects to launch the system in Spain later this year.
International revenue surged 50.7% in the fourth quarter to $214 million, outpacing U.S. revenue growth of 28% to $567.8 million. The momentum reflects growing adoption of the company's tubeless insulin pump technology, which has been cleared for individuals aged 2 and older with Type 1 diabetes and adults with Type 2 diabetes.
Analysts have maintained a largely bullish outlook on Insulet, with Wall Street maintaining an average "Strong Buy" rating and a consensus price target of $369.64, indicating significant upside potential. However, some analysts have expressed caution about potential competition narrowing Insulet's market advantages.
The company projects a revenue compound annual growth rate of approximately 20% from 2025 to 2028, driven by continued expansion into Type 2 diabetes markets, international growth, and planned product enhancements including a new data platform, Omnipod Discover, and compatibility with additional continuous glucose monitors such as Abbott's Libre 3 Plus.
Insulet's market capitalization stands at approximately $17.1 billion, with shares trading around $246 before the earnings announcement. The stock has faced pressure over the past year, declining approximately 13.5% over the last 12 months and 14.6% in the month leading up to the earnings report.
The strong quarterly performance and optimistic guidance may help reverse that trend as investors digest the company's accelerating growth trajectory and expanding market opportunity in the diabetes management space.