10-Q Filing

INSULET CORP CIK: 1145197 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001145197-15-000059`
Period End Date	20150630
Filing Date	20150812
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	podd-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 73 Cash Flow Statement 61

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$145.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.73M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$151.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$175.54M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$39.88M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$31.83M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	56.88M	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.10M	USD	Point-in-time
Inventories, net	`InventoryNet`	$23.43M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	56.30M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	56.30M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	56.88M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.02M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$203.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$208.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.04M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$14.06M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$12.30M	USD	Point-in-time
Goodwill	`Goodwill`	$37.54M	USD	Point-in-time
Goodwill	`Goodwill`	$37.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.69M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.29M	USD	Point-in-time
Total assets	`Assets`	$300.39M	USD	Point-in-time
Total assets	`Assets`	$302.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.66M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$24.70M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$26.44M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.55M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.09M	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$6.24M	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$3.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.68M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$2.26M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$2.31M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$168.99M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$172.22M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.77M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$218.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$230.14M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized: 5,000,000 shares at June 30, 2015 and December 31, 2014 Issued and outstanding: zero shares at June 30, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized: 5,000,000 shares at June 30, 2015 and December 31, 2014 Issued and outstanding: zero shares at June 30, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at June 30, 2015 and December 31, 2014. Issued and outstanding: 56,876,012 and 56,299,022 shares at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at June 30, 2015 and December 31, 2014. Issued and outstanding: 56,876,012 and 56,299,022 shares at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$661.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$675.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-605.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-578.02M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$70.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.83M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$302.16M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$300.39M	USD	Point-in-time

Income Statement 73 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$75.59M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$141.17M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$136.80M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$72.01M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$36.25M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$41.21M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$69.62M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$72.60M	USD	2 Qtrs
Gross profit	`GrossProfit`	$67.18M	USD	2 Qtrs
Gross profit	`GrossProfit`	$35.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$34.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$68.57M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$20.28M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$12.07M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.46M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$28.68M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$33.77M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.86M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$19.51M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$28.51M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$14.86M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$21.81M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$39.21M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$75.74M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$46.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$88.17M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$41.05M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.28M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.17M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-12.36M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-20.99M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$29.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$77.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$41.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$60.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$3.98M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$8.46M	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$3.08M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$6.27M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$5.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$-890.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$-625.00K	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-18.94M	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-18.94M	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-23.20M	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Interest and other expense, net	`NonoperatingIncomeExpense`	$-23.78M	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-27.97M	USD	2 Qtrs
Interest and other expense, net	`NonoperatingIncomeExpense`	$-3.03M	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-6.19M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.39M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-35.14M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-27.18M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-29.06M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$52.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$37.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$117.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$89.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-15.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-29.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.26M	USD	2 Qtrs
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	2 Qtrs
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.53	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.48	USD	2 Qtrs
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.43M	shares	1 Quarter
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	56.81M	shares	1 Quarter
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.26M	shares	2 Qtrs
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	56.65M	shares	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-29.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.26M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.11M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.10M	USD	2 Qtrs
Non-cash interest and other expense	`AmortizationOfFinancingCostsAndDiscounts`	$3.79M	USD	2 Qtrs
Non-cash interest and other expense	`AmortizationOfFinancingCostsAndDiscounts`	$5.87M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$8.58M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$9.63M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-18.94M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-18.94M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-23.20M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$1.18M	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$1.80M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.53M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.88M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-699.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$10.34M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$355.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$534.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-632.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.01M	USD	2 Qtrs
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$4.36M	USD	2 Qtrs
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$5.00M	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-422.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$147.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-509.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.70M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.60M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.75M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.60M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.75M	USD	2 Qtrs
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.26M	USD	2 Qtrs
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$2.81M	USD	2 Qtrs
Proceeds from Issuance of long-term debt, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	2 Qtrs
Proceeds from Issuance of long-term debt, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	$194.57M	USD	2 Qtrs
Repayments of Convertible Debt	`RepaymentsOfConvertibleDebt`	$160.69M	USD	2 Qtrs
Repayments of Convertible Debt	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$6.49M	USD	2 Qtrs
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$5.34M	USD	2 Qtrs
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.89M	USD	2 Qtrs
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.43M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.25M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.07M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$25.82M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.06M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$145.14M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$149.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$151.19M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$175.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$145.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$149.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$151.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$175.54M	USD	Point-in-time
Allocation to equity for conversion for the 2% Notes	`Allocationtoequityforconversionforthe2Notes`	$35.64M	USD	2 Qtrs
Allocation to equity for conversion for the 2% Notes	`Allocationtoequityforconversionforthe2Notes`	-	USD	2 Qtrs
Purchases of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	$5.72M	USD	2 Qtrs
Purchases of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.