10-Q Filing

INSULET CORP CIK: 1145197 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001145197-20-000009`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	podd-2020x03x3110q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 54 Stockholders Equity 22 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.10M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.80M	USD	Point-in-time
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$213.70M	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`	$201.40M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$162.40M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$120.20M	USD	Point-in-time
Accounts receivable trade, less allowance for credit losses of $4.1 and $3.8	`AccountsReceivableNetCurrent`	$80.10M	USD	Point-in-time
Accounts receivable trade, less allowance for credit losses of $4.1 and $3.8	`AccountsReceivableNetCurrent`	$69.30M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$95.70M	USD	Point-in-time
Inventories	`InventoryNet`	$101.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.90M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$44.60M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	62.69M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	63.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$541.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$591.00M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$60.80M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	62.69M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$58.40M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	63.06M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$412.40M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$399.40M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.20M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$12.40M	USD	Point-in-time
Goodwill	`Goodwill`	$39.60M	USD	Point-in-time
Goodwill	`Goodwill`	$39.80M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$41.10M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$41.70M	USD	Point-in-time
Total assets	`Assets`	$1.11B	USD	Point-in-time
Total assets	`Assets`	$1.14B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.40M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$103.20M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$94.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$130.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$157.70M	USD	Point-in-time
Convertible debt, net	`LongTermDebtNoncurrent`	$887.90M	USD	Point-in-time
Convertible debt, net	`LongTermDebtNoncurrent`	$899.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$19.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$21.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.07B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.05B	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value, 5,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value, 5,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value, 100,000,000 authorized; 63,057,874 and 62,685,492 issued and outstanding	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $.001 par value, 100,000,000 authorized; 63,057,874 and 62,685,492 issued and outstanding	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$737.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$749.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-675.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-672.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$212.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$75.90M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$59.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$223.60M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.14B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.11B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$159.60M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$198.00M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$52.90M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$71.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$126.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$106.70M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$35.50M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$32.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingAndMarketingExpense`	$83.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingAndMarketingExpense`	$66.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.30M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-10.10M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-4.80M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.20M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.70M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.60M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$300.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-500.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	62.88M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	59.36M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.88M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.90M	USD	1 Quarter
Non-cash interest	`AmortizationOfFinancingCostsAndDiscounts`	$7.60M	USD	1 Quarter
Non-cash interest	`AmortizationOfFinancingCostsAndDiscounts`	$11.10M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.90M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.80M	USD	1 Quarter
Provision for credit losses	`ProvisionForDoubtfulAccounts`	$800.00K	USD	1 Quarter
Provision for credit losses	`ProvisionForDoubtfulAccounts`	$600.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$800.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-300.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivableAndUnbilledRevenue`	$14.60M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivableAndUnbilledRevenue`	$6.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.70M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.70M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-700.00K	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-5.10M	USD	1 Quarter
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$-20.40M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.30M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-700.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.50M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.90M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.40M	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$900.00K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$500.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$2.10M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$38.00M	USD	1 Quarter
Receipts from the maturity or sale of investments	`ProceedsFromSaleOfShortTermInvestments`	$78.80M	USD	1 Quarter
Receipts from the maturity or sale of investments	`ProceedsFromSaleOfShortTermInvestments`	$55.00M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.40M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.60M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.20M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$25.20M	USD	1 Quarter
Payment of withholding taxes in connection with vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.50M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.50M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.10M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.30M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$15.40M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$201.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$213.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$113.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$201.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$213.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$113.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.30M	USD	Point-in-time
Purchases of property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$12.70M	USD	1 Quarter
Purchases of property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$8.40M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	62.69M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	63.06M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$212.10M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$75.90M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$59.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$223.60M	USD	Point-in-time
Exercise of options to purchase common stock	`StockIssuedDuringPeriodValueStockOptionsExercised`	$6.20M	USD	1 Quarter
Exercise of options to purchase common stock	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.80M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.90M	USD	1 Quarter
Restricted stock units vested, net of shares withheld for taxes	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-25.20M	USD	1 Quarter
Restricted stock units vested, net of shares withheld for taxes	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-7.50M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.60M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	62.69M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	63.06M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$212.10M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$75.90M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$59.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$223.60M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-800.00K	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.40M	USD	1 Quarter
Unrealized gain on available-for-sale debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$600.00K	USD	1 Quarter
Unrealized gain on available-for-sale debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$800.00K	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.60M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$4.20M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-4.70M	USD	1 Quarter

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