PODD · CIK 1145197
What Insulet Corp told the SEC could break it.
Insulet's disclosures center on concentration in the supply chain behind its Omnipod products. Although it manufactures in the U.S. and Malaysia, a single third-party contract manufacturer in China supplies a significant portion of its inventory, which exposes it to trade policy: it notes that if the current tariff exemption for certain medical devices were eliminated, tariffs would materially affect future results. The supply chain is narrow on components too, since each type of semiconductor chip in Omnipod is typically sourced from a single supplier and some materials are sole-sourced. On the distribution side, it flags related-party concentration, with $511.6 million of U.S. Omnipod revenue — roughly 19% of total — coming through a related party in 2025.
4 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- U.S. related-party distribution channelmedium
U.S. Omnipod revenue included $511.6 million of related-party revenue in 2025 (~19% of total revenue), down from $587.8 million in 2024 — a material related-party distribution concentration.
“Revenue from the sale of Omnipod products in the U.S. includes $511.6 million of related party revenue in 2025, compared with $587.8 million in 2024.”
SEC filing →As of 2026
Geographic concentration
- China contract manufacturermedium
A third-party contract manufacturer in China manufactures and supplies a significant portion of Insulet's inventory; products are made in only the US, Malaysia, and the China CM facility (Costa Rica plant in build-out).
“While we manufacture our products in the United States and in Malaysia, a third-party contract manufacturer in China manufactures and supplies a significant portion of our inventory.”
Regulatory & policy
- medical-device tariff exemptionmedium
If the current tariff exemption for certain medical devices is eliminated, tariffs would have a material impact on Insulet's results in future years (China-sourced manufacturing).
“While we do not expect tariffs to have a significant impact on our gross margin in 2026, should the exemption that is currently in place for certain medical devices be eliminated, tariffs would have a material impact on our results of operations in future years.”
Sole-source dependency
- semiconductor chips (single supplier per type)medium
Each type of semiconductor chip used in Omnipod manufacturing is typically sourced from a single supplier; some components/materials are sole-sourced.
“While the Company has multiple suppliers of semiconductor chips, each type is typically sourced from a single supplier. Supply chain disruptions, supplier shortages, logistic delays, or quality problems could result in manufacturing delays, increased costs, or a possible loss of sales, which could adversely affect operating results.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
In the MyPRIA app, this is checked against the companies you actually own.
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