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Jun 30, 2023
Insulet Q2 2023 Earnings Report
Insulet reported a revenue increase of 32% year-over-year.
Key Takeaways
Insulet Corporation reported a strong second quarter with a 32.4% increase in revenue, driven by Omnipod demand. The company commercially launched Omnipod 5 in the UK and submitted the Omnipod 5 iOS App to the FDA.
Second quarter revenue increased by 32.4% to $396.5 million.
U.S. Omnipod revenue increased by 40.9%.
International Omnipod revenue increased by 16.0%.
Operating income was $31.1 million, or 7.8% of revenue, compared to an operating loss in the prior year.
Insulet
Insulet
Insulet Revenue by Segment
Forward Guidance
The Company expects revenue growth of 18% to 21% for the quarter ending September 30, 2023.
Positive Outlook
- Total Omnipod revenue growth of 20% to 23%.
- U.S. Omnipod revenue growth of 27% to 30%.
- International Omnipod revenue growth of 2% to 5%.
- Drug Delivery revenue decline of (30)% to (25)%.
- For the year ending December 31, 2023, the Company is raising its expected revenue growth of 22% to 25% (previously 18% to 22%).
Challenges Ahead
- International Omnipod of 7% to 10% (previously 6% to 10%)
- Drug Delivery of (50)% to (45)% (previously (55)% to (45)%)
Revenue & Expenses
Visualization of income flow from segment revenue to net income