INSULET CORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
PODD$148.06-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (Unaudited) for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| (in millions) | 2024 | 2023 |
| Cash flows from operating activities | ||
| Net income | $317.6 | $103.0 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 59.3 | 54.0 |
| Stock-based compensation expense | 49.3 | 35.7 |
| Deferred income taxes | (140.8) | 0.3 |
| Non-cash interest expense | 5.4 | 4.6 |
| Provision for credit losses | 0.6 | 2.1 |
| Unrealized loss (gain) on investments | 3.8 | (0.8) |
| Other | 5.1 | 0.3 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (20.5) | (52.1) |
| Accounts receivable — related party | 5.6 | (15.2) |
| Inventories | (38.6) | (65.3) |
| Prepaid expenses and other assets | (16.8) | (24.5) |
| Accounts payable | 20.0 | 41.5 |
| Accrued expenses and other liabilities | 31.8 | 16.2 |
| Accrued expenses and other liabilities — related party | 0.8 | 0.7 |
| Net cash provided by operating activities | 282.6 | 100.5 |
| Cash flows from investing activities | ||
| Capital expenditures | (71.3) | (46.3) |
| Investments in developed software | (6.7) | (6.2) |
| Acquisition of intangible assets | — | (25.1) |
| Acquisition of a business | — | (3.0) |
| Cash paid for investments | (0.2) | (7.2) |
| Net cash used in investing activities | (78.2) | (87.8) |
| Cash flows from financing activities | ||
| Proceeds from issuance of term loan, net of issuance costs | 130.0 | — |
| Repayment of term loan | (136.0) | (3.8) |
| Proceeds from secured borrowing | 32.6 | — |
| Repayment of secured borrowing | (17.2) | — |
| Repayment of equipment financings | (15.5) | (14.8) |
| Repayment of financing lease | (6.0) | — |
| Repayment of mortgage | (1.8) | (1.7) |
| Proceeds from exercise of stock options | 7.7 | 12.4 |
| Proceeds from issuance of common stock under employee stock purchase plan | 6.0 | 5.5 |
| Payment of withholding taxes in connection with vesting of restricted stock units | (7.0) | (13.1) |
| Other | — | (0.3) |
| Net cash used in financing activities | (7.2) | (15.8) |
| Effect of exchange rate changes on cash and cash equivalents | 1.2 | (1.2) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 198.4 | (4.3) |
| Cash, cash equivalents and restricted cash at beginning of period | 704.2 | 689.7 |
| Cash, cash equivalents and restricted cash at end of period | $902.6 | $685.4 |
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