10-Q Filing

INSULET CORP CIK: 1145197 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001145197-17-000009`
Period End Date	20170331
Filing Date	20170509
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	podd-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 40 Cash Flow Statement 57 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.67M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.04M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$177.99M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$161.40M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$28.80M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$40.65M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$35.51M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$34.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.07M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	57.91M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	57.46M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.16M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	57.91M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	57.46M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$369.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$337.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.75M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.28M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.04M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.21M	USD	Point-in-time
Goodwill	`Goodwill`	$39.68M	USD	Point-in-time
Goodwill	`Goodwill`	$39.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$605.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$216.00K	USD	Point-in-time
Total assets	`Assets`	$444.96M	USD	Point-in-time
Total assets	`Assets`	$456.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.16M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$41.23M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$31.84M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.13M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.70M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$336.76M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$332.77M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.23M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$381.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$393.50M	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, 2017 and December 31, 2016. Issued and outstanding: zero shares at March 31, 2017 and December 31, 2016.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized: 5,000,000 shares at March 31, 2017 and December 31, 2016. Issued and outstanding: zero shares at March 31, 2017 and December 31, 2016.	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at March 31, 2017 and December 31, 2016. Issued and outstanding: 57,912,745 and 57,457,967 shares at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Common stock, $.001 par value: Authorized: 100,000,000 shares at March 31, 2017 and December 31, 2016. Issued and outstanding: 57,912,745 and 57,457,967 shares at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$744.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$754.59M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-657.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-726.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-690.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-680.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$63.15M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$63.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$456.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$444.96M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Discontinued operations, tax	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	$408.00K	USD	1 Quarter
Discontinued operations, tax	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	-	USD	1 Quarter
Revenue	`SalesRevenueNet`	$101.71M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$81.21M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$37.16M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$42.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$59.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$12.99M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.50M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$24.02M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$28.09M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$19.11M	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`	$64.71M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.31M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.70M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$3.10M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$5.01M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$434.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$170.00K	USD	1 Quarter
Interest expense, net	`NonoperatingIncomeExpense`	$-4.57M	USD	1 Quarter
Interest expense, net	`NonoperatingIncomeExpense`	$-2.93M	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.88M	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.62M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$96.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$64.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-10.69M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-9.98M	USD	1 Quarter
Loss from discontinued operations, net of tax ($0 and $408 for the three months ended March 31, 2017 and 2016, respectively)	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Loss from discontinued operations, net of tax ($0 and $408 for the three months ended March 31, 2017 and 2016, respectively)	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Net loss from continuing operations per share basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.17	USD	1 Quarter
Net loss from continuing operations per share basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.19	USD	1 Quarter
Net loss from discontinued operations per share basic and diluted (in dollars per share)	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.03	USD	1 Quarter
Net loss from discontinued operations per share basic and diluted (in dollars per share)	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Weighted-average number of shares used in calculating net loss per share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.03M	shares	1 Quarter
Weighted-average number of shares used in calculating net loss per share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.69M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.32M	USD	1 Quarter
Non-cash interest and other expense	`AmortizationOfFinancingCostsAndDiscounts`	$1.98M	USD	1 Quarter
Non-cash interest and other expense	`AmortizationOfFinancingCostsAndDiscounts`	$3.99M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.27M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$7.12M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$655.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$295.00K	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`	$12.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.65M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.18M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.42M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$462.00K	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-8.78M	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-14.23M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-87.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-882.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$956.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$111.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-21.84M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.52M	USD	1 Quarter
Purchases of property, equipment and software	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.16M	USD	1 Quarter
Purchases of property, equipment and software	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.68M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecurities`	$41.35M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Receipts from the maturity or sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	-	USD	1 Quarter
Receipts from the maturity or sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$24.74M	USD	1 Quarter
Proceeds from divestiture of business, net	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	-	USD	1 Quarter
Proceeds from divestiture of business, net	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	$4.61M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.45M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.29M	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$269.00K	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.34M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfCommonStock`	$6.33M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfCommonStock`	$796.00K	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.14M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.64M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.18M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.93M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$58.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$210.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-61.14M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.04M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$122.67M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.04M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	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`	$76.04M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$111.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	USD	Point-in-time
Purchases of property, equipment and software, previously recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.70M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$400.00K	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$79.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-10.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$400.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$69.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.91M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.08M	USD	1 Quarter

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