10-Q Filing

INSULET CORP CIK: 1145197 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001145197-16-000088`
Period End Date	20160331
Filing Date	20160429
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	podd-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 38 Cash Flow Statement 54 Comprehensive Income 8

Balance Sheet 78 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`	$151.19M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$145.61M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	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`	$42.53M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$40.47M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	56.95M	shares	Point-in-time
Inventories, net	`InventoryNet`	$14.02M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	57.11M	shares	Point-in-time
Inventories, net	`InventoryNet`	$12.02M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.71M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	56.95M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	57.11M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.28M	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$9.25M	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$171.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$190.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.70M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.79M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$933.00K	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$885.00K	USD	Point-in-time
Goodwill	`Goodwill`	$39.61M	USD	Point-in-time
Goodwill	`Goodwill`	$39.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$588.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Long-term assets of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$1.96M	USD	Point-in-time
Long-term assets of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	-	USD	Point-in-time
Total assets	`Assets`	$254.77M	USD	Point-in-time
Total assets	`Assets`	$275.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$30.39M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$36.74M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.36M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.46M	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$4.45M	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$5.52M	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$5.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$65.16M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$269.00K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$173.68M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$171.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.92M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$241.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$228.38M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized: 5,000,000 shares at March 31, 2016 and December 31, 2015 Issued and outstanding: zero shares at March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized: 5,000,000 shares at March 31, 2016 and December 31, 2015 Issued and outstanding: zero shares at March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at March 31, 2016 and December 31, 2015. Issued and outstanding: 57,112,482 and 56,954,830 shares at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at March 31, 2016 and December 31, 2015. Issued and outstanding: 57,112,482 and 56,954,830 shares at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$690.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$686.19M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-654.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-254.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-664.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-651.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$26.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$34.05M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$275.13M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$254.77M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$81.21M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$48.15M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$37.16M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$18.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$29.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.21M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$12.99M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$14.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$24.02M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$13.54M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$51.75M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.46M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.70M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.27M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$3.18M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$3.10M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$170.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$27.00K	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-3.15M	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-2.93M	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.42M	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.62M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$64.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Net Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-10.44M	USD	1 Quarter
Net Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-10.69M	USD	1 Quarter
Loss from discontinued operations, net of tax ($408 and $28 for the three months ended March 31, 2016 and 2015, respectively	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.79M	USD	1 Quarter
Loss from discontinued operations, net of tax ($408 and $28 for the three months ended March 31, 2016 and 2015, respectively	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.39M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.83M	USD	1 Quarter
Net Loss from continuing operations per share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.18	USD	1 Quarter
Net Loss from continuing operations per share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.19	USD	1 Quarter
Net loss from discontinued operations per share basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.03	USD	1 Quarter
Net loss from discontinued operations per share basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.03	USD	1 Quarter
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	56.50M	shares	1 Quarter
Weighted-average number of shares used in calculating net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.03M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.43M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.42M	USD	1 Quarter
Non-cash interest	`AmortizationOfFinancingCostsAndDiscounts`	$1.98M	USD	1 Quarter
Non-cash interest	`AmortizationOfFinancingCostsAndDiscounts`	$1.88M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.30M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.27M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$328.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$655.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$139.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.31M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.46M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.65M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.97M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-882.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$313.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$462.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-384.00K	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-59.00K	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-8.78M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$264.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$956.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.52M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.49M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.35M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.16M	USD	1 Quarter
Proceeds from divestiture of business, net	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	$4.61M	USD	1 Quarter
Proceeds from divestiture of business, net	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.35M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.45M	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.19M	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.34M	USD	1 Quarter
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$796.00K	USD	1 Quarter
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$4.88M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.64M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.43M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.25M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.18M	USD	1 Quarter
Effect of Exchange Rate on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$210.00K	USD	1 Quarter
Effect of Exchange Rate on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.58M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.04M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$151.19M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$122.67M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$145.61M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	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`	$122.67M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$145.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	USD	Point-in-time
Purchases of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	1 Quarter
Purchases of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	$5.72M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.83M	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00K	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$400.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$400.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.08M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-11.83M	USD	1 Quarter

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