INSULET CORP Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| (in millions, except share and per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income | $ | 247.1 | $ | 418.3 | $ | 206.3 | |||||||||||
Add back interest expense, net of tax attributable to assumed conversion of Convertible Senior Notes | 3.0 | 9.1 | 10.4 | ||||||||||||||
| Net income, diluted | $ | 250.1 | $ | 427.4 | $ | 216.8 | |||||||||||
| Weighted average number of common shares outstanding, basic (in thousands) | 70,348 | 70,076 | 69,751 | ||||||||||||||
Convertible Senior Notes | 1,234 | 3,528 | 3,528 | ||||||||||||||
| Stock options | 100 | 150 | 286 | ||||||||||||||
| Restricted stock units | 204 | 136 | 68 | ||||||||||||||
Weighted average number of common shares outstanding, diluted (in thousands) | 71,886 | 73,891 | 73,633 | ||||||||||||||
| Earnings per share | |||||||||||||||||
Basic | $ | 3.51 | $ | 5.97 | $ | 2.96 | |||||||||||
Diluted | $ | 3.48 | $ | 5.78 | $ | 2.94 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| (in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Restricted stock units | 425 | 464 | 322 | ||||||||||||||
| Stock options | 129 | 209 | 163 | ||||||||||||||
| Total | 554 | 673 | 485 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.