10-Q Filing

INSULET CORP CIK: 1145197 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001145197-18-000008`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	podd-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 60 Comprehensive Income 10

Balance Sheet 74 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`	$76.04M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$272.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$203.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$167.48M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$148.85M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$53.37M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$50.38M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Unbilled receivable	`UnbilledReceivablesCurrent`	-	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Unbilled receivable	`UnbilledReceivablesCurrent`	$5.45M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories	`InventoryNet`	$26.33M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	58.32M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	58.72M	shares	Point-in-time
Inventories	`InventoryNet`	$33.79M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	58.72M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	58.32M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.95M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$537.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$451.61M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$164.12M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$125.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$107.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$153.03M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.57M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.35M	USD	Point-in-time
Goodwill	`Goodwill`	$39.84M	USD	Point-in-time
Goodwill	`Goodwill`	$39.77M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$1.97M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$16.66M	USD	Point-in-time
Total assets	`Assets`	$829.76M	USD	Point-in-time
Total assets	`Assets`	$816.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$24.41M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$45.76M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$59.26M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.81M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$86.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$82.41M	USD	Point-in-time
Convertible debt, net of current portion	`LongTermDebtNoncurrent`	$566.17M	USD	Point-in-time
Convertible debt, net of current portion	`LongTermDebtNoncurrent`	$569.88M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.03M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$659.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$658.23M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Authorized: 5,000,000 shares at March 31, 2018 and December 31, 2017. Issued and outstanding: zero shares at March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Authorized: 5,000,000 shares at March 31, 2018 and December 31, 2017. Issued and outstanding: zero shares at March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Authorized: 100,000,000 at March 31, 2018 and December 31, 2017. Issued and outstanding: 58,723,242 and 58,319,348 at March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$58.00K	USD	Point-in-time
Authorized: 100,000,000 at March 31, 2018 and December 31, 2017. Issued and outstanding: 58,723,242 and 58,319,348 at March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$59.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$866.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$865.52M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-493.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-693.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-707.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$158.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$170.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$816.74M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$829.76M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$101.71M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$123.58M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$47.76M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$42.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$75.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$59.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.50M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$19.91M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$28.09M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$32.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$19.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$64.71M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$75.81M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	-	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-5.31M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$7.92M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$5.01M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$434.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.68M	USD	1 Quarter
Interest expense and other income, net	`NonoperatingIncomeExpense`	$-4.57M	USD	1 Quarter
Interest expense and other income, net	`NonoperatingIncomeExpense`	$-6.24M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.88M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$96.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$333.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.57M	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`	$-0.11	USD	1 Quarter
Net loss from continuing operations per share basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.17	USD	1 Quarter
Weighted-average number of shares used in calculating net loss per share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.48M	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 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.52M	USD	1 Quarter
Non-cash interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$7.16M	USD	1 Quarter
Non-cash interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$3.99M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.18M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$7.12M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$697.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$295.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$46.00K	USD	1 Quarter
Accounts receivable and unbilled receivable	`IncreaseDecreaseInAccountsReceivableAndUnbilledRevenue`	$-1.80M	USD	1 Quarter
Accounts receivable and unbilled receivable	`IncreaseDecreaseInAccountsReceivableAndUnbilledRevenue`	$12.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-6.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.18M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.32M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.42M	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-14.23M	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-20.95M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-87.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-2.17M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$627.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$111.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-21.84M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.27M	USD	1 Quarter
Purchases of property, equipment and software	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.37M	USD	1 Quarter
Purchases of property, equipment and software	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.68M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$41.35M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$60.88M	USD	1 Quarter
Receipts from the maturity or sale of investments	`ProceedsFromSaleOfShortTermInvestments`	$40.27M	USD	1 Quarter
Receipts from the maturity or sale of investments	`ProceedsFromSaleOfShortTermInvestments`	$24.74M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-55.99M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.29M	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$269.00K	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$15.00K	USD	1 Quarter
Proceeds from exercise of stock options (2)	`ProceedsFromIssuanceOfCommonStock`	$2.96M	USD	1 Quarter
Proceeds from exercise of stock options (2)	`ProceedsFromIssuanceOfCommonStock`	$6.33M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.82M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.14M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.93M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.87M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-307.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$58.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-69.43M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-61.14M	USD	1 Quarter
Cash, cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.04M	USD	Point-in-time
Cash, cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$272.58M	USD	Point-in-time
Cash, cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$203.15M	USD	Point-in-time
Cash, cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	USD	Point-in-time
Cash, cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.04M	USD	Point-in-time
Cash, cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$272.58M	USD	Point-in-time
Cash, cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$203.15M	USD	Point-in-time
Cash, cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$137.17M	USD	Point-in-time
Purchases of property, equipment and software, previously recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$4.00M	USD	1 Quarter
Purchases of property, equipment and software, previously recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$17.50M	USD	Annual
Number of shares acquired (in shares)	`StockRepurchasedDuringPeriodShares`	8,243.00	shares	1 Quarter
Payments for repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$700.00K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-318.00K	USD	1 Quarter
Foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$79.00K	USD	1 Quarter
Unrealized loss on available-for-sale debt securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-725.00K	USD	1 Quarter
Unrealized loss on available-for-sale debt securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-10.00K	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$69.00K	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.04M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.61M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.91M	USD	1 Quarter

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