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Side-by-side financial comparison of Insulet Corporation (PODD) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Insulet Corporation is the larger business by last-quarter revenue ($783.7M vs $586.5M, roughly 1.3× StepStone Group Inc.). Insulet Corporation runs the higher net margin — 13.0% vs -21.0%, a 34.0% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 31.2%). Insulet Corporation produced more free cash flow last quarter ($48.2M vs $26.7M). Over the past eight quarters, Insulet Corporation's revenue compounded faster (33.2% CAGR vs 28.2%).
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.
PODD vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $783.7M | $586.5M |
| Net Profit | $101.6M | $-123.5M |
| Gross Margin | 72.6% | — |
| Operating Margin | 18.7% | -33.2% |
| Net Margin | 13.0% | -21.0% |
| Revenue YoY | 31.2% | 73.0% |
| Net Profit YoY | 0.9% | 35.7% |
| EPS (diluted) | $1.42 | $-1.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $783.7M | $586.5M | ||
| Q3 25 | $706.3M | $454.2M | ||
| Q2 25 | $649.1M | $364.3M | ||
| Q1 25 | $569.0M | $377.7M | ||
| Q4 24 | $597.5M | $339.0M | ||
| Q3 24 | $543.9M | $271.7M | ||
| Q2 24 | $488.5M | $186.4M | ||
| Q1 24 | $441.7M | $356.8M |
| Q4 25 | $101.6M | $-123.5M | ||
| Q3 25 | $87.6M | $-366.1M | ||
| Q2 25 | $22.5M | $-38.4M | ||
| Q1 25 | $35.4M | $-18.5M | ||
| Q4 24 | $100.7M | $-192.0M | ||
| Q3 24 | $77.5M | $17.6M | ||
| Q2 24 | $188.6M | $13.3M | ||
| Q1 24 | $51.5M | $30.8M |
| Q4 25 | 72.6% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 69.7% | — | ||
| Q1 25 | 71.9% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | 69.3% | — | ||
| Q2 24 | 67.7% | — | ||
| Q1 24 | 69.5% | — |
| Q4 25 | 18.7% | -33.2% | ||
| Q3 25 | 16.7% | -148.8% | ||
| Q2 25 | 18.7% | -5.6% | ||
| Q1 25 | 15.6% | 2.6% | ||
| Q4 24 | 18.3% | -101.7% | ||
| Q3 24 | 16.2% | 21.3% | ||
| Q2 24 | 11.2% | 29.4% | ||
| Q1 24 | 12.9% | 26.5% |
| Q4 25 | 13.0% | -21.0% | ||
| Q3 25 | 12.4% | -80.6% | ||
| Q2 25 | 3.5% | -10.5% | ||
| Q1 25 | 6.2% | -4.9% | ||
| Q4 24 | 16.9% | -56.6% | ||
| Q3 24 | 14.2% | 6.5% | ||
| Q2 24 | 38.6% | 7.2% | ||
| Q1 24 | 11.7% | 8.6% |
| Q4 25 | $1.42 | $-1.55 | ||
| Q3 25 | $1.24 | $-4.66 | ||
| Q2 25 | $0.32 | $-0.49 | ||
| Q1 25 | $0.50 | $-0.37 | ||
| Q4 24 | $1.38 | $-2.61 | ||
| Q3 24 | $1.08 | $0.26 | ||
| Q2 24 | $2.59 | $0.20 | ||
| Q1 24 | $0.73 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $930.8M | $270.2M |
| Stockholders' EquityBook value | $1.5B | $-378.8M |
| Total Assets | $3.2B | $5.2B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $930.8M | $270.2M | ||
| Q3 25 | $934.9M | $269.9M | ||
| Q2 25 | $939.0M | $269.6M | ||
| Q1 25 | $1.6B | $269.3M | ||
| Q4 24 | $1.3B | $168.9M | ||
| Q3 24 | $1.4B | $172.3M | ||
| Q2 24 | $1.4B | $172.1M | ||
| Q1 24 | $1.4B | $148.8M |
| Q4 25 | $1.5B | $-378.8M | ||
| Q3 25 | $1.4B | $-233.5M | ||
| Q2 25 | $1.5B | $153.9M | ||
| Q1 25 | $1.3B | $179.4M | ||
| Q4 24 | $1.2B | $209.8M | ||
| Q3 24 | $1.1B | $397.5M | ||
| Q2 24 | $998.4M | $366.9M | ||
| Q1 24 | $790.7M | $324.5M |
| Q4 25 | $3.2B | $5.2B | ||
| Q3 25 | $3.0B | $5.3B | ||
| Q2 25 | $3.5B | $4.8B | ||
| Q1 25 | $3.5B | $4.6B | ||
| Q4 24 | $3.1B | $4.3B | ||
| Q3 24 | $3.0B | $4.0B | ||
| Q2 24 | $2.9B | $3.8B | ||
| Q1 24 | $2.6B | $3.8B |
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.64× | 1.75× | ||
| Q1 25 | 1.21× | 1.50× | ||
| Q4 24 | 1.07× | 0.81× | ||
| Q3 24 | 1.21× | 0.43× | ||
| Q2 24 | 1.36× | 0.47× | ||
| Q1 24 | 1.72× | 0.46× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $183.3M | $27.2M |
| Free Cash FlowOCF − Capex | $48.2M | $26.7M |
| FCF MarginFCF / Revenue | 6.2% | 4.6% |
| Capex IntensityCapex / Revenue | 17.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $377.7M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.3M | $27.2M | ||
| Q3 25 | $125.7M | $16.2M | ||
| Q2 25 | $196.5M | $46.3M | ||
| Q1 25 | $63.8M | $-66.5M | ||
| Q4 24 | $147.7M | $27.6M | ||
| Q3 24 | $98.5M | $53.7M | ||
| Q2 24 | $96.5M | $50.2M | ||
| Q1 24 | $87.6M | $7.6M |
| Q4 25 | $48.2M | $26.7M | ||
| Q3 25 | $100.1M | $15.9M | ||
| Q2 25 | $177.9M | $45.2M | ||
| Q1 25 | $51.5M | $-69.2M | ||
| Q4 24 | $94.1M | $27.0M | ||
| Q3 24 | $71.8M | $52.4M | ||
| Q2 24 | $74.0M | $49.6M | ||
| Q1 24 | $65.5M | $6.7M |
| Q4 25 | 6.2% | 4.6% | ||
| Q3 25 | 14.2% | 3.5% | ||
| Q2 25 | 27.4% | 12.4% | ||
| Q1 25 | 9.1% | -18.3% | ||
| Q4 24 | 15.7% | 8.0% | ||
| Q3 24 | 13.2% | 19.3% | ||
| Q2 24 | 15.1% | 26.6% | ||
| Q1 24 | 14.8% | 1.9% |
| Q4 25 | 17.2% | 0.1% | ||
| Q3 25 | 3.6% | 0.1% | ||
| Q2 25 | 2.9% | 0.3% | ||
| Q1 25 | 2.2% | 0.7% | ||
| Q4 24 | 9.0% | 0.2% | ||
| Q3 24 | 4.9% | 0.5% | ||
| Q2 24 | 4.6% | 0.3% | ||
| Q1 24 | 5.0% | 0.3% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 8.73× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.27× | 3.05× | ||
| Q2 24 | 0.51× | 3.76× | ||
| Q1 24 | 1.70× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
