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Jun 30, 2020
Insulet Q2 2020 Earnings Report
Insulet reported a revenue increase of 28% year-over-year in the second quarter of 2020.
Key Takeaways
Insulet Corporation announced financial results for the three months ended June 30, 2020, with second quarter revenue of $226.3 million, up 27.8% compared to the prior year. The company's strong financial profile allows them to continue to invest in their business and advance important initiatives.
Second quarter 2020 revenue of $226.3 million, up 27.8%, or 28.8% in constant currency, compared to $177.1 million in the prior year, exceeds guidance of 19% to 23% on a constant currency basis
Total Omnipod revenue of $202.0 million, an increase of 25.6%, or 26.8% in constant currency
Net income of $14.4 million, or $0.22 per diluted share, compared to net income of $1.4 million, or $0.02 per diluted share, in the prior year
Adjusted EBITDA of $44.2 million or 19.5% of revenue, compared to $21.9 million or 12.4% of revenue in the prior year
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
The Company has assumed that the pandemic and recessionary headwinds will persist throughout 2020, with a gradual recovery starting in the third quarter as economies begin to open and customers are able to resume more normal physician meetings.
Positive Outlook
- Total Omnipod to be 18% to 20%
- U.S. Omnipod to be 19% to 21%
- International Omnipod to be 17% to 19%
- Drug Delivery to be 3% to 6%
- For the quarter ending September 30, 2020, the Company expects revenue growth of 13% to 15%
Challenges Ahead
- It remains difficult to accurately predict the progression of COVID-19 and the extent of the resulting disruption.
- Adjusted EBITDA as a percentage of revenue in the range of 13% to 17%, closer to the low end of the range.
- Total Omnipod of 12% to 14%
- U.S. Omnipod of 14% to 16%
- International Omnipod of 9% to 11%
Revenue & Expenses
Visualization of income flow from segment revenue to net income