Insulet Q1 2021 Earnings Report
Key Takeaways
Insulet reported strong first quarter results with revenue reaching $252.3 million, a 27.4% increase compared to the prior year. The company achieved the high end of its guidance, driven by growth in Omnipod and Drug Delivery revenues. Insulet is excited for the commercial launch of Omnipod 5.
First quarter revenue increased by 27.4% to $252.3 million.
Total Omnipod revenue grew by 22.9% to $233.2 million.
U.S. Omnipod revenue increased by 22.9% to $143.3 million.
Drug Delivery revenue increased by 130.1% to $19.1 million.
Insulet
Insulet
Insulet Revenue by Segment
Forward Guidance
For the year ending December 31, 2021, the Company is raising the low end of its revenue guidance range to 16% to 20% (previously 15% to 20%). For the quarter ending June 30, 2021, the Company expects revenue growth of 10% to 14%.
Positive Outlook
- Total Omnipod revenue growth of 18% to 21% (previously 17% to 21%) for the year ending December 31, 2021.
- U.S. Omnipod revenue growth of 22% to 25% (previously 21% to 25%) for the year ending December 31, 2021.
- International Omnipod revenue growth of 11% to 15% (previously from 10% to 15%) for the year ending December 31, 2021.
- Total Omnipod revenue growth of 14% to 17% for the quarter ending June 30, 2021.
- U.S. Omnipod revenue growth of 17% to 20% for the quarter ending June 30, 2021.
Challenges Ahead
- Drug Delivery revenue growth of (11)% to 4% for the year ending December 31, 2021.
- Drug Delivery revenue growth of (24)% to (16)% for the quarter ending June 30, 2021.
- Currency impact is expected to affect international Omnipod revenue growth by 6% for the year ending December 31, 2021.
- Currency impact is expected to affect total Omnipod revenue growth by 2% for the year ending December 31, 2021.
- Currency impact is expected to affect total revenue growth by 2% for the year ending December 31, 2021.