Insulet Q1 2022 Earnings Report
Key Takeaways
Insulet Corporation reported a 17.1% increase in revenue for the first quarter of 2022, reaching $295.4 million. The growth was driven by strong global Omnipod adoption and the ongoing commercial launch of the Omnipod 5 Automated Insulin Delivery System. The company's financial results exceeded guidance, with a gross margin of 71.0% and operating income of $37.9 million.
First quarter revenue increased by 17.1% year-over-year to $295.4 million.
Total Omnipod revenue increased by 15.6% to $269.5 million.
U.S. Omnipod revenue increased by 21.5% to $174.1 million.
The company reaffirmed its expected revenue growth of 12% to 16% for the year ending December 31, 2022.
Insulet
Insulet
Insulet Revenue by Segment
Forward Guidance
Insulet expects revenue growth of 12% to 15% for the quarter ending June 30, 2022. For the year ending December 31, 2022, the Company is reaffirming its expected revenue growth of 12% to 16%.
Positive Outlook
- Total Omnipod revenue is expected to grow 17% to 20%.
- U.S. Omnipod revenue is expected to grow 21% to 24%.
- The company reaffirmed its expected revenue growth of 12% to 16% for the year ending December 31, 2022.
- Total Omnipod revenue is expected to grow 16% to 20% for the year ending December 31, 2022.
- U.S. Omnipod revenue is expected to grow 19% to 23% for the year ending December 31, 2022.
Challenges Ahead
- Drug Delivery revenue is expected to decline 43% to 37%.
- International Omnipod revenue is expected to grow 9% to 12%.
- Operating margin is expected to be flat year-over-year.
- Drug Delivery revenue is expected to decline 35% to 30% for the year ending December 31, 2022.
- International Omnipod revenue is expected to grow 9% to 14% for the year ending December 31, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income