Insulet lowered its annual sales growth forecast on Wednesday, pointing to a softer second half of 2026 particularly for U.S. sales of its Omnipod insulin pumps, sending shares of the company down nearly 21%.
CEO Ashley McEvoy in a call with analysts said Insulet saw weaker-than-expected retention and slightly lower usage among customers with type 2 diabetes, with most of the difficulties occurring during their first 90 days using Omnipod.
“We should have understood some of these type 2 trends sooner and done a better job of adapting our commercial and customer service model to the needs of this really important customer base,” McEvoy said.
The medical-device maker now expects 2026 revenue to grow 20% to 22%, compared with its previous forecast of 21% to 23%.
CFO Flavia Pease added that the updated forecast assumes that the weaker retention and usage trends continue through the second half.
Insulet cut its U.S. Omnipod sales growth forecast to between 17% and 19% from 20% to 22%, while raising its international forecast to between 30% and 32% from 26% to 28%.
McEvoy said the problem was not related to competition, pricing or GLP-1 medicines, but to Insulet’s execution in supporting people with type 2 diabetes during their first 90 days using the device.
“With decelerating trends in 2H, and assuming this wasn’t a record new patient quarter again, this will stoke investor fears that US growth could fall out near 10% or even lower in 2027,” said J.P. Morgan analyst Robbie Marcus.
Quarterly Omnipod sales rose 24.6% to $795.9 million, with U.S. sales increasing 20.1% to $544.1 million.
Insulet posted second-quarter adjusted profit of $1.66 per share, above analysts’ estimate of $1.45, according to data compiled by LSEG.
