Insulet Corporation (NASDAQ: PODD) is a leading medical device company that has transformed diabetes management through its innovative Omnipod platform. Founded in 2000 by a father determined to free his son from daily insulin injections, Insulet has grown into a global entity with over 5,400 employees and operations in multiple ...Insulet Corporation (NASDAQ: PODD) is a leading medical device company that has transformed diabetes management through its innovative Omnipod platform. Founded in 2000 by a father determined to free his son from daily insulin injections, Insulet has grown into a global entity with over 5,400 employees and operations in multiple countries. The company's flagship product, the Omnipod system, is a tubeless, waterproof insulin pump that provides up to three days of continuous insulin delivery, eliminating the need for traditional tubing and multiple daily injections. The Omnipod 5, the world's first tubeless automated insulin delivery system, integrates a proprietary algorithm with continuous glucose monitors to automatically adjust insulin levels, improving glycemic control and reducing the burden on patients. The Omnipod DASH system offers a Bluetooth-enabled pod controlled via a smartphone-like device with a color touchscreen, providing a user-friendly interface for insulin management. In addition to its own products, Insulet supplies pods for Amgen's Neualasta Onpro kit, used to reduce infection risk after chemotherapy. The company operates through a pharmacy channel and independent distributors, making its products widely accessible. Financially, Insulet has demonstrated robust performance with a market capitalization of approximately $9.8 billion, a gross profit margin of 71.1%, and a net profit margin of 12.3%. The company invests heavily in research and development, allocating 11.3% of revenue to innovation, which has driven a pipeline of next-generation products. Under the leadership of CEO Ashley McEvoy, who joined in April 2025, Insulet remains committed to its mission of simplifying life for people with diabetes and other conditions, with a strategic focus on long-term growth and value creation. The company's global reach, strong financials, and dedication to innovation position it as a key player in the medical device industry.
Operator: Good morning, and welcome to the Insulet Corporation Second Quarter 2026 Earnings Call. As a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, Clare Trachtman, Vice President, Investor Relations.
Clare Trachtman: Good morning, and welcome to our second quarter 2026 earnings call. Joining me today are Ashley McEvoy, President and Chief Executive Officer; Flavia Pease, Chief Financial Officer; and Eric Benjamin, Chief Operating Officer. On the call this morning, we will be discussing Insulet's second quarter results, along with our financial outlook for the third quarter and full year 2026. With that, let me start our prepared remarks by reminding everyone that certain statements, including comments regarding our financial outlook, the anticipated impact of our strategic actions, the potential impact of various regulatory and operational matters and the macroeconomic environment on our results of operations contain forward-looking statements that involve risks and uncertainties. And of course, our actual results could differ materially from our current expectations. Please refer to today's press release and our SEC filings for more detail concerning factors that could cause actual results to differ materially. In addition, on today's call, non-GAAP financial measures will be used to help investors understand Insulet's ongoing business performance, including adjusted operating income, adjusted EPS, adjusted EBITDA, adjusted tax rate and constant currency revenue, which is revenue growth, excluding the effect of foreign exchange. A reconciliation of certain non-GAAP financial measures being discussed today to the comparable GAAP financial measures is included in the accompanying investor presentation and available in our earnings release issued this morning, both of which are available on our website. Additionally, unless otherwise stated, all financial commentary regarding dollar and percentage changes will be on a year-over-year reported basis with the exception of revenue growth rates, which will be on a year-over-year constant currency basis. During the Q&A session this morning, Ashley, Flavia, Eric and myself will be available to address questions. Now I'd like to turn the call over to Ashley. Ashley?
Ashley McEvoy: Good morning, everyone, and thank you for joining us. We delivered another quarter of strong revenue growth, expanding profitability and solid cash flow generation. Our performance reflected the strength of our differentiated business model and our team's dedication to improving the lives of people with diabetes around the world. Total company revenue grew 23% year-over-year on a constant currency basis, exceeding our expectations. We saw strong demand for Omnipod across both the U.S. and international markets, along with a benefit from favorable price mix. Importantly, we delivered growth this quarter while continuing to meaningfully improve profitability. Second …
