Abstract

Insulet will release its quarterly results Pre-Market on February 18, 2026, and consensus points to robust top-line and earnings growth as investors weigh ongoing geographic expansion and margin trajectories across the Omnipod franchise.

Market Forecast

Consensus indicates Insulet’s current quarter Revenue of 768.69 million (up 31.89% year over year), EBIT of 140.20 million (up 41.14% year over year), and adjusted EPS of 1.46 (up 42.02% year over year). Forecasts do not include explicit gross profit margin or net profit margin guidance, but the company’s prior results and product mix support expectations for sustained high gross margin.

The core business continues to pivot around the Omnipod ecosystem, with demand supported by broad pharmacy availability and ongoing geographic launches, positioning the company for continued double-digit growth. International Omnipod, supported by recent Middle East availability, is viewed by analysts as the most promising segment; last quarter it generated 202.10 million, and the overall company forecast implies significant year-over-year expansion this quarter.

Last Quarter Review

Insulet reported Revenue of 706.30 million (up 29.86% year over year), Gross Profit Margin of 72.22%, GAAP net profit attributable to the parent company of 87.60 million, Net Profit Margin of 12.40%, and adjusted EPS of 1.24 (up 37.78% year over year).

Quarter-on-quarter net profit surged by 289.33%, underscoring operating leverage as scale increased through the Omnipod platform and costs normalized. The main business remained concentrated in Omnipod systems, with United States Omnipod revenue at 497.10 million and International Omnipod revenue at 202.10 million, while total company revenue rose 29.86% year over year.

Current Quarter Outlook (with major analytical insights)

Main Business

Insulet’s main business, the Omnipod system, remains the primary revenue engine, and the latest model lineup continues to anchor customer adoption patterns across retail pharmacy channels. The company’s previous quarter demonstrated strong margin performance, reflected by a 72.22% gross profit margin and notable operating earnings strength, which provides a foundation for this quarter’s EPS trajectory. With consensus forecasting adjusted EPS of 1.46 (up 42.02% year over year) and EBIT of 140.20 million (up 41.14% year over year), the path to earnings growth relies on sustaining volume momentum while maintaining cost discipline in manufacturing and distribution.

From a mix perspective, the United States Omnipod segment, which produced 497.10 million last quarter, remains the dominant contributor to the consolidated top line. This concentration can amplify quarterly earnings sensitivity to US payer dynamics, pharmacy contract renewals, and prescription trends. However, analysts’ reiterated Buy ratings and raised-to-maintained price targets in January and early February suggest confidence in the main business trajectory and visibility into near-term demand patterns.

Gross margin durability is an important focal point for this quarter given high consumable content in the Omnipod franchise and the potential for scale benefits to offset transient cost pressures. While the forecast does not include gross margin guidance, last quarter’s 72.22% baseline supports a constructive view, and the quarter-on-quarter net profit inflection (up 289.33%) highlights operating leverage that can carry forward if volumes remain elevated. Management’s execution on supply continuity and distribution logistics will be key for maintaining this earnings quality.

Most Promising Business

International Omnipod revenue reached 202.10 million last quarter, and recent geographic expansion provides additional growth vectors for the near term. On February 6, 2026, Insulet announced availability of the Omnipod 5 Automated Insulin Delivery System in Kuwait, the United Arab Emirates, Qatar, and Saudi Arabia, opening new markets and broadening the revenue base. With consensus projecting company-wide revenue of 768.69 million (up 31.89% year over year) this quarter, incremental international contribution has the potential to enhance both volume and mix, particularly as regional reimbursement pathways become standardized and pharmacy channels mature.

Analysts’ commentary in January and early February has leaned into the international opportunity set, with multiple Buy ratings pointing to execution consistency and expansion readiness. The international franchise can help diversify growth away from US-specific policy and payer developments, while providing additional scale benefits to manufacturing. In this quarter, investors will watch for early signs of adoption in newly launched geographies, consistency of reorder rates, and whether the expanded footprint begins to move the needle in reported revenue mix.

The timing and cadence of international rollouts can affect quarterly comparability, and conversion cycles vary across markets. Nonetheless, the strategic direction is clear: broader availability, localized commercial build-out, and leveraging retail pharmacy distribution where feasible. Margin accretion from international growth depends on pricing and channel dynamics, but the framework supports sustained company-level growth if launches translate to consistent reorder volumes and minimal onboarding frictions.

Key Stock Price Drivers

The first driver is whether reported revenue meets or exceeds the 768.69 million consensus, as upside or downside will quickly translate to revisions in full-year models and may reframe sentiment. A close second is adjusted EPS versus the 1.46 expectation; strong delivery here would reinforce the view that scale and mix are supporting earnings quality, in line with last quarter’s operating performance. The third is gross margin trajectory; while consensus does not provide specific margin forecasts, investor attention will center on whether the margin base can hold near last quarter’s 72.22% and whether any scaling efficiencies appear in operating lines.

International execution will likely be probed on the call, especially following the Middle East availability update in early February. Evidence of early traction, order pipelines, and inventory positioning can inform near-term growth assumptions and revenue mix evolution. Finally, commentary on US pharmacy channels, prescription conversion rates, and reorder stability will influence expectations for the United States Omnipod franchise, which remains the largest revenue contributor at 497.10 million last quarter.

On potential risks, investors will be attentive to pricing dynamics, payer authorization trends, and any signals on near-term reimbursement environment shifts. Management color on operating expenses tied to international launch investments will also matter, as these costs can temporarily offset scale benefits. Balancing expansion investments with margin preservation will be a key narrative for the quarter, and the tone of guidance will shape the stock’s reaction alongside headline beats or misses on revenue and EPS.

Analyst Opinions

Buy-side views dominate in the latest window, with a clear majority of bullish opinions over a minority of bearish calls. Notable recent Buy ratings include BTIG maintaining Buy with a 380.00 price target, Wells Fargo reaffirming Buy with a 360.00 target, and RBC Capital maintaining Buy with a 380.00 target. Stifel adjusted its price target to 350.00 while maintaining Buy, and Goldman Sachs maintained Buy with a 363.00 target. Bernstein reiterated an Outperform rating with a 380.00 target, contributing to the overall bullish tilt among institutions tracking the name in early 2026.

These institutions collectively emphasize consistent execution in the core Omnipod business, the visibility of the earnings trajectory given recent margin performance, and the strategic significance of international expansion. The quarter’s consensus metrics—Revenue at 768.69 million (up 31.89% year over year), EBIT at 140.20 million (up 41.14% year over year), and adjusted EPS at 1.46 (up 42.02% year over year)—are consistent with the constructive outlook expressed in Buy notes across January and February. Analysts point to the prior quarter’s outperformance relative to estimates, with revenue surpassing earlier projections and adjusted EPS beating modeled expectations, as reinforcing the positive stance heading into February 18, 2026.

While there is at least one notable bearish view—Barclays downgraded the stock to Underweight with a 274.00 target—the balance of recent ratings and target updates favors the bull case. The bullish camp sees catalysts in geographic rollouts, continued adoption through retail pharmacy channels, and the operational leverage observed last quarter. Importantly, many Buy-rated institutions underscore a supportive margin structure and a pipeline of commercial initiatives likely to sustain double-digit top-line growth this quarter and beyond.

Given this backdrop, the majority of institutional commentary frames the upcoming print as an opportunity to validate company-level growth forecasts and the durability of margin expansion. The emphasis is on confirmation: hitting or modestly exceeding revenue and adjusted EPS expectations, providing updates on newly launched markets, and articulating a disciplined approach to operating expenses tied to expansion. Investors will parse management’s remarks on reorder rates, channel dynamics, and any early indicators of traction in new geographies.

In sum, the consensus positioning is bullish, underpinned by strong quarter-over-quarter profit inflection, last quarter’s high gross margin performance, and the breadth of analyst confidence reflected in January and early February target actions. The market will look for coherent reinforcement of these themes in the Pre-Market release on February 18, 2026, and in management’s prepared remarks and Q&A. If headline metrics align with the 31.89% year-over-year revenue growth and 42.02% adjusted EPS growth embedded in current estimates, the majority view anticipates constructive revisions and sustained confidence in the near-term growth profile.