Insulet Corporation · NASDAQ:PODD
Insulet — Investor Day (November 2025)
108 slides from Insulet's investor day presentation, Nov 20, 2025
Slide 1: Insulet
Insulet ——
Slide 2: Introduction & Opening Remarks
Introduction & Opening Remarks Clare Trachtman VP, Investor Relations
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements regarding, among other things, failure to retain key suppliers; challenges to the future development of our non-insulin future operating and financial performance, product success and efficacy, the drug delivery product line
Slide 4: Regulatory Disclaimers
Regulatory Disclaimers Product Disclaimer Omnipod 5 Ecosystem Pending 510(k), not available for sale within the United States. Omnipod 6 CAUTION—Investigational device. Limited by Federal (or United States) law to investigational use. This product has not been reviewed by the FDA or other regulatory
Slide 5: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses the following non-GAAP financial measures: Insulet presents the above non-GAAP financial measures because management uses them as supplemental measures in assessing the Company’s performance, and the • Constant currency revenue growth, which represents th
Slide 6: Today's Presenters
Today’s Presenters Ashley McEvoy Eric Benjamin Dr. Trang Ly President and Executive Vice President, Senior Vice President, Chief Executive Officer Chief Operating Officer Chief Medical Officer Manoj Raghunandanan Carolyn Sleeth Flavia Pease Senior Vice President, Senior Vice President, Executive Vic
Slide 7: Insulet Common Abbreviations and Acronyms
Insulet Common Abbreviations and Acronyms A1C Blood test measures average blood glucose levels over the last 3 months HCP Health Care Provider ADA American Diabetes Association iOS iPhone Operating System AID Automated Insulin Delivery KOL Key Opinion Leader ASP Average Selling Price LRP Long-range
Slide 8: A Differentiated Market Leader
A Differentiated Market Leader Ashley McEvoy President and Chief Executive Officer
Slide 9: A 25-Year Journey from Disruptor to Leader
A 25-Year Journey from Disruptor to Leader 2022 Omnipod® 5 FDA clearance 2003 Omnipod® 1 2018 FDA Clearance 2013 Omnipod DASH® 2005 Omnipod® Eros FDA clearance Omnipod® 2 Generation 3 FDA clearance FDA clearance ~$2.7B 2025E1 $1.3B $564M Revenue $247M Investor Day 2025 | 9
Slide 10: Our Unique Ethos: There Has to Be a Better Way
Our Unique Ethos: There Has to Be a Better Way Fueled by Innovating Empathy Everywhere Insulet Creating a Human Co-Founder Better Way Solutions John Brooks Investor Day 2025 | 10
Slide 11: We will find a better way.
We will find a better way. Investor Day 2025 |
Slide 12: Vision: A world where diabetes demands less
VISION A world where diabetes demands less every day, everywhere. Investor Day 2025 |
Slide 13: Mission
MISSION Born of empathy, driven by ingenuity, proven by science, we transform the lives of people with diabetes. Investor Day 2025 |
Slide 14: The First and Only Omnipod
Innovation Born The First and of Empathy Only Omnipod Omnipod 5 The first tubeless, wearable automated insulin delivery system2 A complex device that is simple to use Investor Day 2025 | 14
Slide 15: The Science of Making Diabetes "Disappear into Life"
The Science of Making Diabetes “It’s been amazing having a peace of mind that she’ll stay “Disappear into Life” steady through the night, she’ll get rest, and we’ll get rest. It’s been a huge game-changer.” Jeminee Delivering results that create peace of mind mom of Romey, Podder since 2019 RADIANT:
Slide 16: Advocating and Innovating to Create Access and Affordability
Advocating and Innovating to Create Access and Affordability Preferred product on most 100% formularies Omnipod 5 sold through the 300M+ lives pharmacy channel in the U.S. covered of 317M eligible lives in U.S. 10-year effort to reach all U.S. customers through more than 47K pharmacies Most <$1 pres
Slide 17: Building Technical and Manufacturing Superiority
Building Technical and Manufacturing Superiority More than $1 billion of supply chain investments ~7x increase in production 2015 2025 Hand-assembly manufacturing process Highly automated manufacturing process with 2,000 manufacturing personnel with 2,200 manufacturing personnel Investor Day 2025 |
Slide 18: Most Requested, Most Prescribed, Most Loved
Most Requested, Most Prescribed, Most Loved #1 most requested #1 AID in the U.S.3 most prescribed AID in the U.S.4 #1 #1 U.S. new EU new customer starts5 customer starts6 Investor Day 2025 | 18
Slide 19: Insulet has Driven Majority of AID Market Growth
Insulet has Driven Majority of AID Market Growth Global AID Market and Insulet Omnipod Sales7, $B +15% ~$4.7B ~$5.7B 2020–25 CAGR 66% Insulet has driven two-thirds ~$4.0B ~$2.7 of market growth 2020–25 ~$3.3B ~$3.5B $2.0 26% ~$2.9B $1.7 $1.0 $1.2 We are the clear leader in NCS8 $0.8 share and approa
Slide 20: Substantial Opportunity in Our Current Markets
Substantial Opportunity in Our Current Markets Total Addressable Market9, $B $9B+ $10B+ $12B+ Non-AID $30B+ penetration Total Addressable Market9 ~70% ~65% of ~8M PWDs10 ~55% CGM penetration ~$6B AID market today with ~40% line of sight to ~$9B by 2028 ~25% AID penetration ~5% U.S. T1D OUS T1D U.S.
Slide 21: Runway to Expand Our Total Addressable Market
Runway to Expand Our Total Addressable Market Total Addressable Market, # PWD lives Opportunity to Develop New Markets: ~2M ~17M Leverage T1D OUS 1 ~3M momentum to launch 3 T2D OUS11 ~4M 2 2 Broaden into U.S. ~8M T2D basal-only 1 3 Expand into viable T1D opportunity in Asia12 Current OUS T2D U.S. T2
Slide 22: Uniquely at the Nexus
MedTech “Ingenuity” Advanced technologies for personalized precision medicine. Uniquely at the Nexus Healthcare Consumer “Impact” “Intimacy” Superior science Deeply trusted brands improving outcomes that provide superior for patients in their performance for greatest time of need. daily rituals. Inv
Slide 23: The Insulet Difference
The Insulet Difference 1 2 3 Purpose-driven Innovation born Fierce commitment global team of empathy to eliminating barriers to care 4 5 6 Superior science, Beloved brand Technical and HCP partnerships, paired with commercial manufacturing and patient advocacy excellence superiority Investor Day 202
Slide 24: Purpose-Driven Global Team
Purpose-Driven Global Team Ashley McEvoy Eric Benjamin Dr. Trang Ly Manoj Raghunandanan Carolyn Sleeth Flavia Pease President and Executive Vice President, Senior Vice President, Senior Vice President, Senior Vice President, Executive Vice President, Chief Executive Officer Chief Operating Officer C
Slide 25: Investor Day 2025
Investor Day 2025 | 25
Slide 26: Innovation Born of Empathy
Innovation Born of Empathy 2026 2027 2028 Omnipod 5 Omnipod 6 Fully Closed Loop Ecosystem (T2D) CAUTION—Investigational device. Limited by Federal (or United States) law to investigational use. This product has not been reviewed by the FDA or other regulatory agency. Investor Day 2025 | 26
Slide 27: Eliminating Barriers to Care and Scaling Globally
Eliminating Barriers to Care and Scaling Globally Deepening access across the globe Fueling category growth Focus on markets with disproportionate growth Selectively scaling globally with confidence Insulet AID markets Investor Day 2025 | 27
Slide 28: Our Algorithm for Growth & Value Creation
Our Algorithm for Growth & Value Creation Total Addressable Market13 Insulet Targets $12B+ ~20% $10B+ $9B+ >1M Revenue CAGR ~50–55% Podders Constant Currency ~40% ~30–35% ~10–15% ~25% ~100 bps ~5% U.S. T1D OUS T1D U.S. T2D basal-bolus 2025E 2028E TAM Annual adj. operating margin9 expansion penetrati
Slide 29: Our Compelling Investment Thesis
Our Compelling Investment Thesis 1 Ample growth runway in large, underpenetrated markets 2 Deep, defensible moats across technology, science, manufacturing, access, and brand 3 Robust innovation pipeline to drive adoption and unlock new opportunities 4 Disciplined strategy to develop markets, sustai
Slide 30: Innovation Roadmap
Innovation Roadmap Eric Benjamin EVP, Chief Operating Officer
Slide 31: Proven Industry Disruptor, Poised For Next Growth Phase
Proven Industry Disruptor, Poised For Next Growth Phase 2024 • Type 2 FDA 2025 > Omnipod 5 Launched in 9 2023 clearance 2003 2018 Omnipod 5 • Launched France countries Omnipod® Insulin Launched UK & Netherlands • G7 International Omnipod DASH® Management System and Germany markets Generation 4 • G6,
Slide 32: A Powerful Record of Intellectual Property Development
A Powerful Record of Intellectual Property Development 711 889 Deepens competitive advantage Patent Active Patents Supports long-term Applications Filed Issued Worldwide portfolio growth 25 years of bold ideas Investor Day 2025 | 32
Slide 33: Transforming AID Through Differentiated, Empathy-Led Innovation
Transforming AID Through Differentiated, Empathy-Led Innovation Proven Track Record: Omnipod 5 Today Our Innovation Targets #1 in new customer starts in U.S. and EU Enhanced 1 Clinical First-mover in Outcomes T2D in U.S. 3 Better 2 27K+ U.S. prescribers Quality Broader ~8,000 Endos of Life Availabil
Slide 34: A Better Way: Innovating to Help Diabetes Disappear Into Life
A Better Way: Innovating to Help Diabetes Disappear Into Life 2026 2027 2028 2028+ Future Platforms Omnipod 5 Omnipod 6 Fully Closed Ecosystem Loop (T2D) CAUTION—Investigational device. Limited by Federal (or United States) law to investigational use. This product has not been reviewed by the FDA or
Slide 35: 2026: Strengthening Omnipod 5 Ecosystem
2026: Strengthening Omnipod 5 Ecosystem Algorithm Full CGM Improvements Integration Customer • 100 mg/dL target glucose • Integrated with all • Weekly insights to Benefits • More time in auto mode major CGM sensors identify patterns and improved algorithm responsiveness Market • PWDs and prescribers
Slide 36: 2027: Omnipod 6 Will Set a New Standard in Wearable AID
2027: Omnipod 6 Will Set a New Standard in Wearable AID to Extend Leadership Share Guided by Our Better Innovation 1 EnhancedTargets… Clinical Outcomes connectivity for Improved a better wear algorithm experience 2 Broader Availability 3 Better Quality of Life 2026 2027 New app and controller for a
Slide 37: Simplicity of Fully Closed Loop is Key to Unlocking Full T2D Opportunity
Simplicity of Fully Closed Loop is Key to Unlocking Full T2D Opportunity 2025 U.S. T2D Basal- 2025 Est. HCP Mix Bolus AID penetration % of T2D Basal-Bolus PWDs % of PWDs Endocrinology-led care ~30% ~55% CGM penetration FCL addresses barriers to HCP and PWD adoption of AID unlocking more ~5% ~70% of
Slide 38: Innovating to Make Care Simpler, Easier, and More Effective for T2D PWDs
Innovating to Make Care Simpler, Easier, and More Effective for T2D PWDs Fully closed loop AID with no meal announcements Lower burden of managing T2D diabetes Ready out-of-the-box: Designed for self-start Designed for ease for HCPs to prescribe with no settings to start 2026 2027 2028+ Start Pivota
Slide 39: Investing in Future Platforms and Targeted Research
Investing in Future Platforms and Targeted Research to Fuel Pipeline Beyond 2028 Fully Closed Type 2 Loop for T1D basal Longer wear Post 2028 Post 2028 Next-gen pod Form factor hardware Higher insulin improvements platform capacity Post 2028 Investor Day 2025 | 39
Slide 40: Innovation Roadmap Key Takeaways
Distinct approach to innovation: empathetic, customer-intimate, ingenuity Innovation Robust pipeline will extend leadership Roadmap by breaking down barriers to adoption to unlock TAM Key Takeaways Focused on deepening penetration in existing footprint Investing in next-gen products to fuel growth b
Slide 41: Outcomes that Change Lives and Minds
Outcomes that Change Lives and Minds Dr. Trang Ly SVP, Chief Medical Officer
Slide 42: Omnipod 5 Transformed the Treatment of T1D
Omnipod 5 Transformed the Treatment of T1D 10% Omnipod 5 Enables Randomized Period Extension Phase More People to Reach Glycemic Goals vs. MDI 9% 9% All on Omnipod 5 [RADIANT] 9% 8.1% 8.0% 8% 8% 8.1% 8% 7.3% MDI 13 weeks followed by 7% 7% 7.2% 7.2% Omnipod 5 for 13 weeks: n=63 Omnipod 5 for 26 weeks
Slide 43: Omnipod 5 Redefined What's Possible in T2D Management
Omnipod 5 Reduction in A1C by GLP-1 RA Use Redefined What’s 1.0 Mean Change in A1C (%) Possible in T2D Overall By Baseline A1C Management 0.0 0.0 -0.1 Omnipod 5 Delivers -0.3 -0.4 Effective A1C Reduction, -0.8 -0.8 Regardless of GLP-1 Use -1.0 -0.9 -0.9 [SECURE-T2D] -2.0 -2.0 +5 hrs TIR -2.1 -29% in
Slide 44: Real World Performance Highlights Omnipod Effectiveness
Real World Performance Highlights Omnipod 5 Effectiveness Across All Populations Baseline A1C >14% GMI using 10% Omnipod 5 9% 7.6% 7.6% 8% 7–<8% 7.5% 7% 7.2% 1. Data shown as median. Results show for 33,887 adult Omnipod 5 users with an average target over time of 110-115 mg/dL. Insulet data on file
Slide 45: Generating Evidence to Unlock Innovation & Accelerate Adoption
Generating Evidence to Unlock Innovation & Accelerate Adoption New Product and Market Served Trial Enrollment Evaluating Status STRIVE 132 Omnipod 6 vs. Omnipod 5 Completed enrollment; Omnipod 6 RCT Data ADA 2026 for T1D and T2D FCL for T2D EVOLUTION 2 Min 24 Safety and feasibility Completed enrollm
Slide 46: Our Strong Evidence is Shaping Industry Guidelines
Our Strong Evidence is Shaping Industry Guidelines T1D T1D OP5-003 Omnipod 5 RADIANT Omnipod 5 vs. Non-AID vs. MDI RCT pump RCT T1D T1D Pivotal Trials Omnipod 5 T2D T2D Omnipod 5, RWE in T1D Studies 2–70 yrs SECURE-T2D Omnipod 5 Omnipod 5 in T2D RWE in T2D 2021 2023 2024 2025 AID systems should be t
Slide 47: But for T1D, a Shortfall in AID Adoption is Leaving Patients at Risk
But for T1D, a Shortfall in AID Adoption is Leaving Patients at Risk T1D AID Usage and Outcomes Trends, 2009–2023 Children Adults 50% 47% 50% 40% 40% 30% 30% 28% 19% 21% 22% 20% 20% 10% 7% 10% 1% 1% 0% 0% '09–'11 '12–'14 '15-'17 '18–'20 '21–'23 '09–'11 '12–'14 '15-'17 '18–'20 '21–'23 Percent of Chil
Slide 48: Outcomes for T2D are Worsening
Outcomes for T2D are Worsening Outcomes are worsening for T2D A1C decreases initially then despite treatment options1 increases while on semaglutide2 9 9 8 8 AIC (%) AIC (%) 7 7 6 6 '13–'14 '15–'16 '17–'20 '21–'23 0 6 12 18 24 30 36 (Months) 20–44 y 45–64 y ≥65 y N=23,442 Participants 1. Adapted fro
Slide 49: Closing the Gap Between Data and Practice
Closing the Gap Between Data and Practice Why Clinical Inertia Exists Bias Share of Mind Inexperience Investor Day 2025 | 49
Slide 50: Outcomes That Change Lives and Minds: Key Takeaways
Our evidence shows Omnipod 5 can effectively treat T1D and T2D Outcomes That Change Lives and Minds But real-world practice lags behind the science Key Takeaways We are investing to shape guidelines and change clinical practice Investor Day 2025 | 50
Slide 51: Architecting Our Future Growth
Architecting Our Future Growth Manoj Raghunandanan SVP, Chief Growth Officer
Slide 52: Our Framework for Growth
Our Framework for Growth Category Redefining Brand-Led, Advocacy Market Development Fueled Demand Generation AID Market Penetration Omnipod Market Share Current Penetration A Foundation of Empathy-Led, Science-Backed Innovation Investor Day 2025 | 52
Slide 53: Growing AID Market: Redefined Access and Affordability
Growing AID Market: Redefined Access and Affordability Pioneering the way for AID …and we’re just getting started. • Pay-as-you-go • Broadening prescriber base • Sampling program beyond endos to PCPs • Pharmacy access • Changing their behavior • Informing guidelines • NICE Technology Appraisal • Wor
Slide 54: Growing AID Market: Invest in Science to Establish Guidelines
Growing AID Market: Invest in Science to Establish Guidelines – then Make Clinical Practice Match Compelling Against the current patient standard of care advocacy Partnering Thoughtful Across broad Advancing to Change physician populations Guidelines engagement Practice Demonstrating Investing in co
Slide 55: Brand as a Tool for Growth
Brand as a Tool for Growth Relevance Resonance Connection Followership Investor Day 2025 | 55
Slide 56: Highest Net Promoter Score
Highest total consumer awareness Highest Net among MDI users1 Promoter Score Highest rating for among competitive pump brands1 brand trust & love1 Investor Day 2025 | 56
Slide 57: Our Growing Podder Community
Our Growing Podder Community 2.4x 80M is Highly Social tags for Omnipod vs. YTD video content views across social Engaged largest competitor2 channels3 Investor Day 2025 | 57
Slide 58: 70% of PWDs who request a brand ask for Omnipod
70% of PWDs who request a brand, ask for Omnipod4 Investor Day 2025 | 58
Slide 59: Growth in leads YoY
>50% Growth in leads YoY5 Investor Day 2025 | 59
Slide 60: Leads from non-targeted HCPs driven by DTC
~65% of leads come from 10:50 non-targeted HCPs – driven by DTC6 ~20% of NCS come from non-targeted HCPs – driven by DTC6 Investor Day 2025 | 60
Slide 61: Brand Love = Brand as a Moat
Brand Love = Brand as a Moat Investor Day 2025 | 61
Slide 62: Obsessed with Improving the Customer Journey
Obsessed with Improving the Customer Journey Consider & Be Ready To Initiate New Thrive Choose New Start New Treatment Treatment Treatment “Am I achieving the “Is this the right “How do I get “Are my settings health outcomes I fit for me? Is my started? Do I have correct? Am I using need to think le
Slide 63: Customers re-engaged due to outreach
Wear my I adjust to I change my I get a check I attend I get my first Live my life Omnipod for 3 using OP5 in first pod in call for routine doctor pod refill confidently days daily life support visit without diabetes being “I lead a full life the main focus with diabetes” 700+ AI analyzing data poin
Slide 64: Always Optimizing – Demand Generation Flywheel
Always Optimizing – Demand Generation Flywheel Uncover Insights Learn Deeply and Resonant Refine Campaigns Manage the Activate in Customer the Office Experience Investor Day 2025 | 64
Slide 65: Architecting Our Future Growth: Key Takeaways
Industry-leading market development is expanding the AID category and unlocking TAM Architecting Our Brand strength, engaged Podder community, Future Growth and precision demand generation are accelerating share growth and maximizing Key Takeaways customer lifetime value Relentless focus on customer
Slide 66: U.S. Market Strategy
U.S. Market Strategy Carolyn Sleeth SVP, U.S. General Manager
Slide 67: Our U.S. Market Opportunity and Strategy
Our U.S. Market Opportunity and Strategy Our Shift AID to standard of care “in Create the T2D AID market and make Aspiration practice” across full T1D population Omnipod the standard of care Total U.S. Addressable Total U.S. Addressable Market, Market1, $B $12B+ # PWD lives ~7M U.S. Addressable Mark
Slide 68: Our U.S. Business Today: The Clear Leader in AID
Our U.S. Business Today: The Clear Leader in AID Winning in T1D, bringing leadership to T2D Established as the Clear Market Leader #1 #1 instarts new customer since 2023 3 Most widely available U.S. Omnipod Revenue ($B) access, at most requested 47K+ $1.9 and most prescribed AID • Largest, most enga
Slide 69: Sustaining Leadership in U.S. T1D
Sustaining Leadership in U.S. T1D: Poised for Next Phase of Growth Our U.S. T1D strategy will help penetration reach 50–55% by 2028 and grow our market share through: 1 2 3 Generating market Evolving the T1D Putting users first by demand for AID to commercial delivering best-in- increase adoption ap
Slide 70: Driving U.S. Growth With Commercial Excellence
Driving U.S. Growth With Commercial Excellence InvestorInvestor Day 2025 70 Day| 2025
Slide 71: Driving U.S. Growth With Commercial Excellence
18,000+ prescriber Increasing network reach and reach frequency Driving U.S. Growth With High- Positioning Commercial Excellence performance, Omnipod 5 as first-line experienced therapy talent Investor Day 2025 | 71
Slide 72: Our U.S. T2D Business Today
Our U.S. T2D Business Today: Insulet is Uniquely Positioned to Develop and Shape the Market Insulet will create the T2D market to make Omnipod the standard of care U.S. T2D Opportunity Clear Market Leader 2.5M People on basal-bolus insulin First AID system cleared for T2D in the U.S. Largest T2D pre
Slide 73: T2D Clinical Context, Patient Journey Requires a Tailored Approach
T2D Clinical Context, Patient Journey Requires a Tailored Approach Complex Fragmented Considered “end Patients Landscape of the line” therapy T2D patients are more HCP landscape is more Varied therapeutic options clinically complex and fragmented, with mean HCPs view AID more as have longer, more pr
Slide 74: Creating the T2D Market and Becoming Standard of Care
Creating the T2D Market and Becoming Standard of Care We are well positioned to lead in T2D Our tailored T2D strategy will support penetration more than doubling from ~5% to 10–15% by 2028 through: Generating demand and Expanding access driving adoption through and demonstrating commercial excellenc
Slide 75: Develop the T2D Market and Position Omnipod as Standard of Care
Develop the T2D Market and Position Omnipod as Standard of Care Position Omnipod as Drive HCP interest through standard of care DTC and patient demand Broaden evidence base Compelling consumer Improve dissemination through storytelling and education targeted channels KOL ‘speaker bureaus’ Empowered
Slide 76: Activating our Teams to Drive Transformation
Activating our Teams to Drive Transformation In Diabetes Management Competitive and Clinical Selling Skills In-Office Sampling Launch new model to boost message impact Simplify initial prescribing Targeting Expansion Differentiated sales enablement Growing sales force to align with demand Investor D
Slide 77: Creating a Seamless T2D User Experience
Creating a Seamless T2D User Experience to Strengthen Patient Confidence & Retention Awareness Onboarding Use Utilize DTC to reframe AID Strengthen onboarding and Identify and support T2D and drive patient demand training process to support patients most at risk of successful patient starts attritio
Slide 78: Insulet's Differentiated Market Access Advantage
Insulet’s Differentiated Market Access Advantage Today Barriers Insulet is Investing to Break Through Reducing Prior Prior authorization 70%+ costly acute authorization programs for prescribers Approval rate6 events 50% Reduction in Driving High co-pays Co-pay card buy-downs walkaway rates6 retentio
Slide 79: U.S. Market Strategy: Key Takeaways
Large, underpenetrated market in the U.S. for T1D and T2D U.S. Market Our aspiration: Shift AID to standard of Strategy care “in practice” across full T1D population, and make Omnipod the Key Takeaways standard of care for T2D Our strategy: Demand generation, commercial excellence, and market access
Slide 80: International Market Strategy
International Market Strategy Eric Benjamin EVP, Chief Operating Officer
Slide 81: Our International Business Today: Leading AID Market Expansion
Our International Business Today: Leading AID Market Expansion Aspiration to lead in AID for T1D and T2D Growing Durably and Profitably In Global Markets #1 24 countries 9 direct markets International Revenue ($M) $751 AID system for International business spans Direct footprint since 20182 ‘new-to-
Slide 82: International Market Opportunity
International Market Opportunity Our Aspiration: Market leadership in global T1D and T2D AID Durable Growth International Total Addressable Market, # PWD lives Opportunities ~4M ~3M • Additional penetration Achieved through and share in current T1D markets ~65% ~2M • ~4M people living with T2D basal
Slide 83: Driving Durable Growth with a Repeatable Playbook
Driving Durable Growth with a Repeatable Playbook Broaden guidelines and access Key Capabilities: Launch Omnipod 5 with access Market Development Demand Generation Commercial Excellence Invest commercially Launch further innovation Investor Day 2025 | 83
Slide 84: Building on Our Strength in Europe with Focus on EU5
Building on Our Strength in Europe with Focus on EU5 Represents ~80% of our T1D Remainder of opportunity Europe represents EU5 ~30% represents Driving results by: ~50% Continue growing market share Entering Spain Applying our repeatable playbook Investor Day 2025 | 84
Slide 85: Accelerating Growth in Other Large Geographies
Accelerating Growth in Other Large Geographies Represents ~20% of our T1D opportunity Canada Driving results by: Middle East Expanding access in Canada Launching Middle East4 with Omnipod 5 Applying our Australia repeatable playbook Investor Day 2025 | 85
Slide 86: Investing in Science and Innovation to Develop the Global T2D Basal-Bolus Market
Investing in Science and Innovation to Develop the Global T2D Basal-Bolus Market Initial target population ~1.5M patients KOL Clinical Evidence Commercial Regulatory Experience and Access Expansion OUS T2D TAM ~4M patients 2026 2029+ File for CE mark Investor Day 2025 | 86
Slide 87: Beginning to Develop Asian Markets
Beginning to Develop Asian Markets Asia T1D6 represents an additional TAM of ~2M patients Enter Asia starting with Japan: Attractive market Will continue Target entry to assess other toward end of LRP Asian markets Applying our repeatable playbook Investor Day 2025 | 87
Slide 88: International Market Strategy: Key Takeaways
Strong growth with Omnipod 5 has proven international opportunity International Repeatable playbook to drive durable, profitable growth Market Strategy Key Takeaways Focused on deepening penetration in existing footprint Investing to unlock T2D basal-bolus market and Asia T1D opportunity Investor Da
Slide 89: Value Creation Algorithm
Value Creation Algorithm Flavia Pease EVP, Chief Financial Officer
Slide 90: Sustained, Profitable Growth Built on Market Leadership
Sustained, Profitable Growth Built on Market Leadership Total Revenue Adj. Operating Margin1 Adj. EPS1 Free Cash Flow1 ($B) (%) ($M) ~ $2.7 17.4% $4.88 $2.1 14.9% $330 $305 $1.7 12.3% $3.24 11.5% 9.5% $2.75 $1.3 $1.1 $1.30 $0.86 $70 2 2 3 2021 2022 2023 2024 2025E 2021 2022 2023 2024 2025E 2021 2022
Slide 91: Decades of Investments Creating Competitive Advantage
Decades of Investments Creating Competitive Efficient Advantage Manufacturing & Supply Chain Deep and wide competitive moats $1B+ invested to build capabilities and drive that capital alone sustainable cost advantage cannot replicate Unique Beloved Brand Form Factor & Community ~$2B investment in R&
Slide 92: Winning Formula for Value Creation 2025–2028
Winning Formula for Value Creation 2025–2028 ~20% ~100 bps Revenue CAGR in Constant Currency Annual Adjusted Operating Margin1 Expansion 25%+ Adjusted EPS1 CAGR • Leading product • Modest gross margin improvement • Under-penetrated • Investment in innovation addressable market Strong FCF1 • Leverage
Slide 93: Significant Market Opportunities Support ~20% Revenue Growth
Significant Market Opportunities Support ~20% Revenue Growth U.S. T1D • Enhanced demand generation • Evolving our commercial 2025–2028 Goals approach • Improving the customer Penetration 2025E 2028E experience U.S. T1D ~40% 50–55% U.S. T2D ~5% 10–15% ~20% Achieved through U.S. T2D • Strong market de
Slide 94: Accelerating Innovation to Unlock Our Full Potential
Accelerating Innovation to Unlock Our Full Potential Next-Generation R&D R&D Spend, $M • Omnipod 6 $271 • Fully Closed Loop (T2D) $220 • 2028+ Future Platforms $205 Innovation $180 investments $160 12% Clinical Evidence 11% 15% 14% 11% Generation • STRIVE Study • EVOLUTION Studies • Global Evidence
Slide 95: Building and Strengthening Capabilities to Sustain Profitable Growth
Building and Strengthening Capabilities to Sustain Market Development • Unlocking TAM Profitable Growth • Driving AID category expansion SG&A Spend, $M • Growing prescriber base 45% 44% Driving SG&A leverage while Demand Generation 43% $1,095 funding growth • Optimizing customer investments acquisit
Slide 96: Driving Improved Profitability Through Operational Excellence
Driving Improved Profitability Through Operational Excellence Adj. Operating Margin1 Adj. EPS1 (%) ~100 bps 25%+ Operational Efficiency annual expansion CAGR Driven by: Achieved • Modest improvement in through gross margin 17.4% $4.88 • Investment in innovation • Leveraged SG&A 2025E 2026E 2027E 202
Slide 97: Expanding Supply Chain Capacity to Serve Demand
Expanding Supply Chain Capacity to Serve Demand Capital Expenditure, $M Expanding Global Manufacturing Capacity • Ongoing automation in Acton • Additional lines in Malaysia $123 $125 $112 • New facility in Costa Rica $76 Increased $56 Capex Investments Advanced Automation • Increasing manufacturing
Slide 98: Accelerating Free Cash Flow Generation to Support Further Growth
Accelerating Free Cash Flow Generation to Support Further Growth Capital Allocation Free Cash Flow1, $M Priorities • Continuing to invest in $330 Strong FCF innovation $305 generation • Funding capital expenditures to expand global scale and support $70 top-tier growth • Opportunity to invest in $(4
Slide 99: Our Compelling Investment Thesis
Our Compelling Investment Thesis 1 Ample growth runway in large, underpenetrated markets 2 Deep, defensible moats across technology, science, manufacturing, access, and brand 3 Robust innovation pipeline to drive adoption and unlock new opportunities 4 Disciplined strategy to develop markets, sustai
Slide 100: Appendix
Appendix Investor Day 2025 | 100
Slide 101: Non-GAAP Reconciliation — Revenue Guidance
Non-GAAP Reconciliation — Revenue Guidance Year Ending December 31, 2025 Revenue Growth GAAP Currency Impact Constant Currency U.S. Omnipod 26% to 27% —% 26% to 27% International Omnipod 43% to 44% 5% 38% to 39% Total Omnipod 30% to 31% 1% 29% to 30% Drug Delivery (15)% to (10)% —% (15)% to (10)% To
Slide 102: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures $s in Millions 2025E FY 2024 FY 2023 FY 2022 FY 2021 Operating Income $ 464.4 $ 308.9 $ 220.1 $ 37.6 $ 126.0 Operating Margin % 17.3 % 14.9 % 13.0 % 2.9 % 11.5 % Voluntary MDCs 1 — — (11.5) 57.9 — Legal costs2 — — — 25.2 — CEO and CFO transition costs3 (2.3) — — 3
Slide 103: Endnotes (1/6)
Endnotes (1/6) Presentation: A Differentiated Market Leader Presenter: Ashley McEvoy, President and Chief Executive Officer Page Title Marker Footnote 9, 19 A 25-Year Journey from Disruptor to Leader; Insulet has Driven 1 2025 estimates represent the midpoint of the guidance range provided on the Q3
Slide 104: Endnotes (2/6)
Endnotes (2/6) Presentation: Innovation Roadmap Presenter: Eric Benjamin, EVP, Chief Operating Officer Page Title Marker Footnote 31 Proven Industry Disruptor, Poised For Next Growth Phase 1 Data on file. Seagrove Partners LLC Investor Day 2025 | 104
Slide 105: Endnotes (3/6)
Endnotes (3/6) Presentation: Architecting Our Future Growth Presenter: Manoj Raghunandanan, SVP, Chief Growth Officer Page Title Marker Footnote 56 Highest Net Promoter Score… 1 In the U.S.; source: Insulet data on file as of January 2025 57 Our Growing Podder Community is Highly Engaged 2 Represent
Slide 106: Endnotes (4/6)
Endnotes (4/6) Presentation: U.S. Market Strategy Presenter: Carolyn Sleeth, SVP, U.S. General Manager Page Title Marker Footnote 67 Our U.S. Market Opportunity and Strategy 1 Total Addressable Market based on the markets the Company serves today and reflects pricing based on internal estimates and
Slide 107: Endnotes (5/6)
Endnotes (5/6) Presentation: International Market Strategy Presenter: Eric Benjamin, EVP, Chief Operating Officer Page Title Marker Footnote 81 Our International Business Today: Leading AID Market 1 Q&A HCP AID Algorithm Study – May 2025. p.40 n=243 Expansion 81 Our International Business Today: Lea
Slide 108: Endnotes (6/6)
Endnotes (6/6) Presentation: Value Creation Algorithm Presenter: Flavia Pease, EVP, Chief Financial Officer Page Title Marker Footnote 90, 92, 96, 98 Sustained, Profitable Growth Built on Market Leadership; 1 Adjusted Operating Margin, Adjusted EPS and Free Cash Flow are non-GAAP measures. Winning F