Shares of Insulet (PODD) plummeted 12.48% in pre-market trading on Wednesday after the medical device company reported second-quarter 2026 results that missed profit estimates and issued a forward guidance that likely disappointed investors.

For the quarter, Insulet delivered revenue of $801.7 million, beating the Ibes estimate of $787.2 million. However, net income of $95 million fell short of the expected $101.8 million, and earnings per share came in at $1.37. Looking ahead, the company projected third-quarter revenue growth of 17.5% to 19.5%, with full-year revenue growth forecasted at 20% to 22%. It also guided for adjusted EPS growth of greater than 30% for the fiscal year.

The top-line beat was overshadowed by the bottom-line miss and the Q3 revenue growth outlook, which appears to have triggered the significant pre-market decline.