Insulet Corporation stock research
FY2025 Q2
Insulet (PODD) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened sequentially but improved relative to the year-ago period.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened sequentially but improved relative to the year-ago period.
- The gross margin decline from the prior quarter was driven by a proportionally larger increase in cost of revenue relative to revenue growth. Compared to the same quarter last year, the margin improvement reflects a more favorable relationship between revenue and cost of revenue.
- Sequentially, gross margin weakened as cost of revenue grew faster than revenue. Year over year, gross margin improved, with revenue growth outpacing the increase in cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
69.7%
Gross profit
$452.2M
Revenue
$649.1M
Cost of revenue
$196.9M
Quarter-over-quarter change
-2.2 pts
Year-over-year change
+1.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $543.9M | $377.1M | $166.8M | 69.3% |
| Dec 31, 2024 | $597.5M | $430.9M | $166.6M | 72.1% |
| Mar 31, 2025 | $569.0M | $409.0M | $159.9M | 71.9% |
| Jun 30, 2025 | $649.1M | $452.2M | $196.9M | 69.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-2.2 pts
Year-over-year change
Jun 30, 2024
+1.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin decline from the prior quarter was driven by a proportionally larger increase in cost of revenue relative to revenue growth. Compared to the same quarter last year, the margin improvement reflects a more favorable relationship between revenue and cost of revenue.
Sequentially, gross margin weakened as cost of revenue grew faster than revenue. Year over year, gross margin improved, with revenue growth outpacing the increase in cost of revenue.
Monitor the trend in cost of revenue relative to revenue, as its faster sequential growth pressured gross margin.