Insulet Reports Preliminary Second Quarter 2024 Revenue Results
Insulet (NASDAQ: PODD) reported preliminary Q2 2024 revenue results, showcasing strong performance. Total revenue reached $488 million, up 23% year-over-year, exceeding the company's guidance of 15% to 18% growth in constant currency. The growth was driven by robust demand for Omnipod 5, with Total Omnipod revenue increasing by 26% to $480 million. U.S. Omnipod revenue grew 27% to $352 million, while International Omnipod revenue rose 23% to $128 million. Based on these results, Insulet plans to raise its full-year 2024 Total Omnipod revenue outlook to 18% to 21% growth, up from the previous 15% to 19% range. The company will release full Q2 2024 financial results on August 8, 2024.
Insulet (NASDAQ: PODD) ha riportato risultati preliminari di fatturato per il secondo trimestre del 2024, mostrando una forte performance. Il fatturato totale ha raggiunto i 488 milioni di dollari, con un incremento del 23% rispetto all’anno precedente, superando le previsioni aziendali di crescita del 15% al 18% a valuta costante. La crescita è stata guidata da una domanda robusta per l'Omnipod 5, con il fatturato totale dell'Omnipod che è aumentato del 26% a 480 milioni di dollari. Il fatturato dell'Omnipod negli Stati Uniti è cresciuto del 27%, arrivando a 352 milioni di dollari, mentre quello internazionale è salito del 23% a 128 milioni di dollari. Sulla base di questi risultati, Insulet prevede di innalzare le sue previsioni per il fatturato totale dell'Omnipod per l'anno 2024 a una crescita del 18% al 21%, rispetto al precedente intervallo del 15% al 19%. L'azienda pubblicherà i risultati finanziari completi del secondo trimestre del 2024 l'8 agosto 2024.
Insulet (NASDAQ: PODD) informó resultados preliminares de ingresos para el segundo trimestre de 2024, mostrando un rendimiento sólido. Los ingresos totales alcanzaron los 488 millones de dólares, un aumento del 23% en comparación con el año anterior, superando la guía de la empresa de un crecimiento del 15% al 18% en moneda constante. El crecimiento fue impulsado por una fuerte demanda del Omnipod 5, con los ingresos totales de Omnipod aumentando un 26% a 480 millones de dólares. Los ingresos de Omnipod en EE. UU. crecieron un 27% a 352 millones de dólares, mientras que los ingresos internacionales de Omnipod aumentaron un 23% a 128 millones de dólares. Basándose en estos resultados, Insulet planea elevar su perspectiva de ingresos totales de Omnipod para todo el año 2024 a un crecimiento del 18% al 21%, frente al rango anterior del 15% al 19%. La compañía publicará los resultados financieros completos del segundo trimestre de 2024 el 8 de agosto de 2024.
Insulet (NASDAQ: PODD)는 2024년 2분기 매출 결과를 예비적으로 발표하며 강력한 성과를 보여주었습니다. 총 매출은 4억 8,800만 달러에 도달하여 전년 대비 23% 증가했습니다, 이는 회사의 상시 통화 기준 성장률 예상치인 15%에서 18%를 초과한 수치입니다. 성장은 Omnipod 5에 대한 견고한 수요에 의해 주도되었으며, 총 Omnipod 매출은 26% 증가하여 4억 8,000만 달러에 이릅니다. 미국의 Omnipod 매출은 27% 증가하여 3억 5,200만 달러에 이르렀고, 국제 Omnipod 매출은 23% 증가하여 1억 2,800만 달러에 달했습니다. 이러한 결과를 바탕으로 Insulet은 2024년 전체 Omnipod 매출 전망을 18%에서 21% 성장으로 상향 조정할 계획입니다, 이전의 15%에서 19% 범위에서 상승한 것입니다. 이 회사는 2024년 8월 8일에 2분기 전체 재무 결과를 발표할 예정입니다.
Insulet (NASDAQ: PODD) a annoncé des résultats préliminaires de revenus pour le deuxième trimestre de 2024, montrant une performance solide. Le chiffre d'affaires total a atteint 488 millions de dollars, en hausse de 23 % par rapport à l'année précédente, dépassant ainsi les prévisions de l'entreprise d'une croissance comprise entre 15 % et 18 % en monnaie constante. Cette croissance a été soutenue par une demande robuste pour l'Omnipod 5, avec des revenus totaux d'Omnipod augmentant de 26 % pour atteindre 480 millions de dollars. Les revenus d'Omnipod aux États-Unis ont augmenté de 27 % pour atteindre 352 millions de dollars, tandis que les revenus internationaux d'Omnipod ont progressé de 23 % pour atteindre 128 millions de dollars. Sur la base de ces résultats, Insulet prévoit de relever ses prévisions de chiffre d'affaires total d'Omnipod pour l'année 2024 à une croissance de 18 % à 21 %, contre une fourchette précédente de 15 % à 19 %. L'entreprise publiera les résultats financiers complets du deuxième trimestre 2024 le 8 août 2024.
Insulet (NASDAQ: PODD) berichtete über die vorläufigen Umsatzergebnisse für das zweite Quartal 2024 und zeigte eine starke Leistung. Der Gesamtumsatz erreichte 488 Millionen Dollar, was einem Anstieg von 23 % im Vergleich zum Vorjahr entspricht, und übertraf damit die Unternehmensprognose von 15 % bis 18 % Wachstum in konstanten Währungen. Das Wachstum wurde durch eine hohe Nachfrage nach dem Omnipod 5 angetrieben, wobei der Gesamtumsatz des Omnipod um 26 % auf 480 Millionen Dollar stieg. Der Umsatz des Omnipod in den USA wuchs um 27 % auf 352 Millionen Dollar, während der internationale Umsatz des Omnipod um 23 % auf 128 Millionen Dollar anstieg. Basierend auf diesen Ergebnissen plant Insulet, die Jahresprognose für den Gesamtumsatz des Omnipod für 2024 auf ein Wachstum von 18 % bis 21 % anzuheben, was einem Anstieg von zuvor 15 % bis 19 % entspricht. Das Unternehmen wird die vollständigen finanziellen Ergebnisse für das zweite Quartal 2024 am 8. August 2024 veröffentlichen.
- Q2 2024 revenue of $488 million, up 23% year-over-year, exceeding guidance
- Total Omnipod revenue increased 26% to $480 million
- U.S. Omnipod revenue grew 27% to $352 million
- International Omnipod revenue rose 23% to $128 million
- Company plans to raise full-year 2024 Total Omnipod revenue outlook to 18-21% growth
- None.
Insulet's preliminary Q2 2024 results showcase impressive growth, with total revenue reaching
The U.S. market remains robust, with Omnipod revenue growing
The company's decision to raise its full-year 2024 Total Omnipod revenue outlook to 18-21% (from 15-19%) signals management's confidence in sustained growth. This upward revision, coupled with the mention of 'continued profitable growth,' suggests potential for improved margins and earnings in the coming quarters.
For investors, these results demonstrate Insulet's strong market position and execution capabilities in the competitive medical device industry. The company's focus on simplifying diabetes management through innovative technology appears to be resonating with customers, driving both U.S. and international growth. However, it's important to await the full financial results on August 8th for a comprehensive view of profitability and cash flow metrics.
Insulet's Q2 2024 performance underscores the growing adoption of automated insulin delivery (AID) systems in diabetes management. The Omnipod 5, as a tubeless AID system, addresses key patient needs: convenience, discretion and improved glucose control without multiple daily injections.
The robust growth in new customer starts, both domestically and internationally, suggests that Insulet is successfully capturing market share from traditional insulin delivery methods and competing pump manufacturers. This trend aligns with the broader shift towards more user-friendly and technologically advanced diabetes management solutions.
Notably, the integration with continuous glucose monitors (CGMs) and smartphone control enhances the appeal of Omnipod 5, potentially improving patient adherence and outcomes. The system's ability to operate without fingersticks is a significant quality-of-life improvement for users.
From a research perspective, the growing user base of Omnipod systems could provide valuable real-world data on AID system efficacy and user experiences. This data could inform future product developments and contribute to the evolving landscape of diabetes care technologies.
While the revenue growth is impressive, it will be important to monitor long-term clinical outcomes and user retention rates to fully assess the impact of Insulet's technology on diabetes management. The company's ability to continue innovating and adapting to user needs will be key to maintaining its growth trajectory in this competitive and rapidly evolving field.
Insulet's Q2 2024 performance indicates a significant shift in the diabetes care market towards advanced, user-friendly technologies. The strong demand for Omnipod 5 suggests that patients and healthcare providers are increasingly favoring automated insulin delivery systems over traditional methods.
The
Internationally, the
The company's focus on simplifying diabetes management aligns with broader healthcare trends towards patient empowerment and home-based care. The Omnipod 5's smartphone integration caters to the increasing demand for digital health solutions and could be a key differentiator in the market.
Looking ahead, Insulet's raised revenue outlook suggests confidence in sustained market demand. However, it will be important to monitor factors such as reimbursement policies, competitive responses and potential regulatory changes that could impact future growth. The company's ability to maintain its innovation pipeline and address evolving patient needs will be important in sustaining its market position in the dynamic diabetes care sector.
Second Quarter Revenue Increased
Raising Full Year 2024 Total Omnipod Revenue Outlook
Preliminary Second Quarter Revenue Highlights:
-
Second quarter 2024 revenue of
, up$488 million 23% , compared to in the prior year, exceeds the guidance range of$397 million 15% to18% in constant currency due to revenue outperformance for all product lines-
Total Omnipod revenue of
, an increase of$480 million 26% -
U.S. Omnipod revenue of , an increase of$352 million 27% -
International Omnipod revenue of
, an increase of$128 million 23% , or24% in constant currency1
-
-
Drug Delivery revenue of
$8 million
-
Total Omnipod revenue of
“Second quarter revenue exceeded our expectations across the board as a result of strong demand for Omnipod 5, resulting in robust revenue growth and sequential increases in new customer starts in both the
2024 Outlook
The Company expects to raise its full year 2024 Total Omnipod revenue outlook to a range of
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD), headquartered in
Non-GAAP Measure:
The Company uses the non-GAAP financial measure of constant currency revenue growth, which represents the change in revenue between current and prior year periods using the exchange rate in effect during the applicable prior year period. Insulet presents constant currency revenue growth because management believes it provides meaningful information regarding the Company’s results on a consistent and comparable basis. Management uses this non-GAAP financial measure, in addition to financial measures in accordance with generally accepted accounting principles in
Insulet presents the above non-GAAP financial measure because management uses it as a supplemental measure in assessing the Company’s performance, and the Company believes it is helpful to investors and other interested parties as a measure of comparative performance from period to period. It also is a commonly used measure in determining business value, and the Company uses it internally to report results.
This non-GAAP financial measure should be considered supplemental to, and not a substitute for, the Company’s reported financial results prepared in accordance with GAAP. Furthermore, the Company’s definition of this non-GAAP measure may differ from a similarly titled measure used by others. Because the non-GAAP financial measure excludes the effect of foreign exchange that will increase or decrease the Company’s reported results of operations, Insulet strongly encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety.
Forward-Looking Statement:
This press release contains forward-looking statements regarding, among other things, future operating and financial performance, product success and efficacy, the outcome of studies and trials and the approval of products by regulatory bodies. These forward-looking statements are based on management’s current beliefs, assumptions and estimates and are not intended to be a guarantee of future events or performance. If management’s underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by the forward-looking statements.
Risks and uncertainties include, but are not limited to our dependence on a principal product platform; the impact of competitive products, technological change and product innovation; our ability to maintain an effective sales force and expand our distribution network; our ability to maintain and grow our customer base; our ability to scale the business to support revenue growth; our ability to secure and retain adequate coverage or reimbursement from third-party payors; the impact of healthcare reform laws; our ability to design, develop, manufacture and commercialize future products; unfavorable results of clinical studies, including issues with third parties conducting any studies, or future publication of articles or announcement of positions by diabetes associations or other organizations that are unfavorable; our ability to protect intellectual property and other proprietary rights; potential conflicts with the intellectual property of third parties; our inability to maintain or enter into new license or other agreements with respect to continuous glucose monitors, data management systems or other rights necessary to sell our current product and/or commercialize future products; worldwide macroeconomic and geopolitical uncertainty as well as risks associated with public health crises and pandemics, including government actions and restrictive measures implemented in response, supply chain disruptions, delays in clinical trials, and other impacts to the business, our customers, suppliers, and employees; international business risks, including regulatory, commercial and logistics risks; the potential violation of anti-bribery/anticorruption laws; the concentration of manufacturing operations and storage of inventory in a limited number of locations; supply problems or price fluctuations with sole source or third-party suppliers on which we are dependent; failure to retain key suppliers or other manufacturing issues; challenges to the future development of our non-insulin drug delivery product line; failure of our contract manufacturer or component suppliers to comply with the
For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. Any forward-looking statement made in this release speaks only as of the date of this release. Insulet does not undertake to update any forwardlooking statement, other than as required by law.
©2024 Insulet Corporation. Omnipod is a registered trademark of Insulet Corporation. All rights reserved. All other trademarks are the property of their respective owners.
INSULET CORPORATION |
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NON-GAAP RECONCILIATION (UNAUDITED) |
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CONSTANT CURRENCY REVENUE GROWTH |
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|
Three Months Ended June 30, |
|
|
|
|
|
|
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(dollars in millions) |
2024 |
|
2023 |
|
Percent Change |
|
Currency Impact |
|
Constant Currency |
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Revenue: |
|
|
|
|
|
|
|
|
|
|||||
|
$ |
352 |
|
$ |
277 |
|
27 |
% |
|
— |
% |
|
27 |
% |
International Omnipod |
|
128 |
|
|
104 |
|
23 |
% |
|
(1 |
)% |
|
24 |
% |
Total Omnipod |
|
480 |
|
|
381 |
|
26 |
% |
|
— |
% |
|
26 |
% |
Drug Delivery |
|
8 |
|
|
16 |
|
(50 |
)% |
|
— |
% |
|
(50 |
)% |
Total |
$ |
488 |
|
$ |
397 |
|
23 |
% |
|
— |
% |
|
23 |
% |
1 See description of the non-GAAP financial measure contained in this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240725767705/en/
Investor Relations:
Deborah R. Gordon
Vice President, Investor Relations
(978) 600-7717
dgordon@insulet.com
Media:
Angela Geryak Wiczek
Senior Director, Corporate Communications
(978) 932-0611
awiczek@insulet.com
Source: Insulet Corporation
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