The insulin pump maker beat second-quarter expectations but lowered its 2026 sales growth outlook, citing a softer second half in U.S. Omnipod demand even as international growth forecasts improved.
Insulet shares fell 12.13% to $146.58 in premarket trading Wednesday after the company beat second-quarter profit and revenue estimates but lowered its 2026 sales growth outlook, signaling a softer second half for U.S. Omnipod insulin pump sales. The medical-device maker now expects 2026 revenue growth of 20% to 22%, down from its prior forecast of 21% to 23%. It cut its U.S. Omnipod sales growth outlook to 17% to 19% from 20% to 22%, while raising its international Omnipod growth forecast to 30% to 32% from 26% to 28%. Adjusted earnings rose to $1.66 per share from $1.17 a year earlier, ahead of the $1.45 analyst estimate compiled by LSEG, while revenue climbed 23.5% to $801.7 million, topping expectations of $787.2 million. Net income increased to $95 million, or $1.37 per diluted share, from $22.5 million, or 32 cents per share, in the prior-year period. Omnipod remained the main growth driver, with quarterly Omnipod sales up 24.6% to $795.9 million, including a 20.1% increase in U.S. sales to $544.1 million and a 35.5% rise in international sales to $251.8 million. Drug Delivery revenue fell to $5.8 million from $10.2 million. CEO Ashley McEvoy said the company was updating its outlook based on what it is learning as it scales in type 2 diabetes, while maintaining that its long-term opportunity remains unchanged. J.P. Morgan analyst Robbie Marcus said investors had been worried that competition in patch pumps could trigger a sharper slowdown next year, but that the pressure now appears to be emerging earlier, which he said could heighten concerns that U.S. growth falls to around 10% or lower in 2027. Insulet also raised its annual adjusted profit growth forecast to more than 30% from more than 25%.