Slide 1: Q3 2025 Earnings
Q3 2025 Earnings Chloe Podder since 2021 November 6, 2025 The Pod has an IP28 rating for up to 25 feet for 60 minutes. The PDM and Controller are not waterproof.
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements regarding, among other things, future operating and financial performance, product success and efficacy, the outcome of studies and trials, and the approval of products by regulatory bodies. These forward-looking statements
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses the following non-GAAP financial measures: • Constant currency revenue growth, which represents the change in revenue between current and prior-year periods using the exchange rate in effect during the applicable prior year period. Insulet presents consta
Slide 4: Q3 2025 Performance
Q3 2025 Performance Total Revenue Omnipod Revenue by Geography Other Financial Highlights U.S. Omnipod $497.1M GROSS MARGIN 25.6% 72.2% Total Company Total Omnipod $706.3M $699.2M up 290 bps 29.9%, 31.0%, ADJUSTED 28.2% constant currency1 29.3% constant currency1 OPERATING MARGIN1 International Omni
Slide 5: Progress Against Our Strategic Objectives
Progress Against Our Strategic Objectives • Integrated Omnipod 5 with Dexcom’s G7 CGM sensor in Sweden, Denmark, Finland and Italy • Secured reimbursement for Omnipod 5 with Dexcom’s G6 and G7 CGM sensors and Abbott's FreeStyle Libre 2 Plus CGM sensor in Norway • Redeemed remaining $380 million prin
Slide 6: Q3 2025 Commercial Metrics
Q3 2025 Commercial Metrics Delivered NCS Growth: • YoY & QoQ • in U.S. & International • in T1D & T2D OVER OVER OVER OVER 85% 35% 95% 55% U.S. NCS U.S. NCS U.S. Customer Base International MDI T2D with Omnipod 5 Customer Base with Omnipod 5 6 Note: Commercial metrics are directional estimates derive
Slide 7: FY 2025 Guidance
FY 2025 Guidance1 Revenue Guidance2 Margin Guidance Assumptions & Drivers Q4 2025 FY 2025 FY 2025 FY 2025 Continued strong Omnipod 5 Revenue Revenue Gross Margin Adjusted Operating adoption globally Raise Raise Margin3 Raise U.S. & International annual NCS growth YoY 25% - 28% 28% - 29% Over 71% 17.
Slide 8: Appendix
Appendix Insulet
Slide 9: Insulet Abbreviations and Acronyms
Insulet Abbreviations and Acronyms bps Basis Points NCS New Customer Starts CGM Continuous Glucose Monitor PDM Personal Device Manager G6 Dexcom G6 Sensor QoQ Quarter-over-Quarter G7 Dexcom G7 Sensor T1D Type 1 Diabetes GAAP Generally Accepted Accounting Principles T2D Type 2 Diabetes HCP Health Car
Slide 10: Q3 2025 Revenue & Margin Performance
Q3 2025 Revenue & Margin Performance1 $s in Millions Total Revenue Total Omnipod Gross Profit & Margin 28% 29% 72.2% 25% $706 26% $699 69.3% $510 $544 $534 $377 Q3'24 Q3'25 Q3'24 Q3'25 Q3'24 Q3'25 U.S. Omnipod International Omnipod Adjusted Operating Income & Margin 26% 40% 23% $497 17.1% $396 35% $
Slide 11: 2025 YTD Revenue & Margin Performance
2025 YTD Revenue & Margin Performance1 $s in Millions Total Revenue Total Omnipod Gross Profit & Margin 30% 30% 71.3% 24% $1,924 25% $1,892 68.8% $1,371 $1,474 $1,447 $1,015 2024 YTD 2025 YTD 2024 YTD 2025 YTD 2024 YTD 2025 YTD U.S. Omnipod International Omnipod Adjusted Operating Income & Margin 27
Slide 12: Historical Financial Performance
Historical Financial Performance1 $s in Millions Total Revenue Total Omnipod Gross Profit & Margin (adjusted) 22% 22% 30% $2,072 33% 69.8% $2,033 22% $1,697 67.7% $1,446 27% $1,661 20% 66.2% $1,305 19% $1,148 $1,248 68.5% $1,099 $864 $1,011 $752 2 2 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022
Slide 13: Non-GAAP Reconciliation — Revenue Guidance
Non-GAAP Reconciliation — Revenue Guidance1 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)% T
Slide 14: Reconciliation of Historical Non-GAAP Measures
Reconciliation of Historical Non-GAAP Measures Q3 2025 Q3 2024 YTD 2025 YTD 2024 FY 2024 FY 2023 FY 2022 FY 2021 Total Revenue GAAP Growth Rate 29.9% 25.7% 30.5% 24.2% 22.1% 30.0% 18.8% 21.5% Less: Currency Impact 1.7% 0.3% 0.8% 0.3% 0.2% 0.4% (3.7)% 1.8% Constant Currency 28.2% 25.4% 29.7% 23.9% 21