Insulet Corporation stock research
FY2025 Q3
Insulet (PODD) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue was slightly lower than the prior quarter but higher than a year ago, while gross margin improved relative to both periods.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue was slightly lower than the prior quarter but higher than a year ago, while gross margin improved relative to both periods.
- Gross margin improved sequentially and year-over-year, driven by revenue growth that outpaced the change in cost of revenue. The strongest observable driver is the expansion in gross margin relative to both comparison periods.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was slightly lower, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
72.2%
Gross profit
$510.1M
Revenue
$706.3M
Cost of revenue
$196.2M
Quarter-over-quarter change
+2.6 pts
Year-over-year change
+2.9 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 |
|---|---|---|---|---|
| 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% |
| Sep 30, 2025 | $706.3M | $510.1M | $196.2M | 72.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+2.6 pts
Year-over-year change
Sep 30, 2024
+2.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin improved sequentially and year-over-year, driven by revenue growth that outpaced the change in cost of revenue. The strongest observable driver is the expansion in gross margin relative to both comparison periods.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was slightly lower, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin also higher.
Monitor the trend in cost of revenue, which increased year-over-year despite a sequential decline.