Insulet (PODD) reported net income of $141.1M in the third quarter of 2026, up from $87.6M in the same period a year earlier. Diluted earnings per share (EPS) were $2.03, compared with $1.24 in 3Q25. The board of directors also authorized a share repurchase (buyback) program of up to $1B.
Revenue totaled $842M, up 19.2% (19.6% in constant currency), slightly above the top end of the company's guidance range of 17.5% to 19.5% in constant currency. Omnipod revenue was $836.6M, up 19.7%. In the U.S., Omnipod revenue was $570.4M (+14.7%); internationally, $266.2M (+31.7%). The Drug Delivery segment generated revenue of $5.5M.
Operating income was $189.8M, or 22.5% of revenue, compared with $117.7M in 3Q25. Adjusted net income (non-GAAP, which excludes items the company considers non-recurring) was $138M, up 57.2%, and adjusted EPS came in at $1.99, versus $1.24. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with other adjustments) totaled $233.7M, or 27.7% of revenue.
The repurchase runs through December 31, 2028. The company intends to allocate about $400M to the fourth quarter of 2026, using existing cash. The authorization adds to previous programs, and the company is not obligated to repurchase shares.
For 2026, Insulet projects total revenue growth of 21% to 22% in constant currency, versus 20% to 22% in the prior guidance. Adjusted operating margin expansion is expected to be about 150 basis points, versus about 100 previously. Adjusted EPS growth remains above 30%.
