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Mar 31, 2024
Insulet Q1 2024 Earnings Report
Insulet reported a strong first quarter with revenue increase and raised full year revenue and operating margin guidance.
Key Takeaways
Insulet Corporation reported a 23% year-over-year increase in revenue for the first quarter of 2024, exceeding guidance. The company raised its full-year revenue and operating margin outlook due to strong performance across all product lines and strategic launches.
First quarter revenue increased by 23.3% year-over-year to $441.7 million.
U.S. Omnipod revenue increased by 22.7% and International Omnipod revenue increased by 16.9%.
Gross margin increased to 69.5%, up 230 basis points year-over-year.
The company raised its full-year revenue growth expectation to a range of 14% to 18%.
Insulet
Insulet
Insulet Revenue by Segment
Revenue by Segment
U.S. Omnipod Revenue
CapyFin.comInternational Omnipod Revenue
CapyFin.comDrug Delivery Revenue
CapyFin.com Forward Guidance
Insulet raised its full year revenue and operating margin guidance. For the year ending December 31, 2024, the Company is raising its expected revenue growth to a range of 14% to 18% (previously 12% to 17%) and is raising its expected operating margin to approximately 13.5% (previously approximately 13%).
Positive Outlook
- Total Omnipod revenue growth is expected to be 15% to 19%.
- U.S. Omnipod revenue growth is expected to be 17% to 21%.
- International Omnipod revenue growth is expected to be 12% to 15%.
- For the quarter ending June 30, 2024, the Company expects revenue growth of 15% to 18%.
- Total Omnipod revenue is expected to grow 18% to 21% for the quarter ending June 30, 2024.
Challenges Ahead
- Drug Delivery revenue is expected to decline by 60% to 50% for the year ending December 31, 2024.
- Drug Delivery revenue is expected to decline by 75% to 70% for the quarter ending June 30, 2024.
- Currency impact is expected to affect International Omnipod revenue growth.
- Unfavorable results of clinical studies
- Breaches or failures of product or information technology systems, including by cyberattack
Revenue & Expenses
Visualization of income flow from segment revenue to net income