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Sep 30, 2023
Insulet Q3 2023 Earnings Report
Insulet's Q3 2023 financial results were announced, featuring a 27% year-over-year revenue increase and raised full-year revenue guidance.
Key Takeaways
Insulet Corporation reported a strong third quarter with a 27% increase in revenue compared to the previous year, driven by high demand for Omnipod 5. The company raised its full-year revenue guidance to a range of 26% to 27%.
Third quarter revenue reached $432.7 million, a 27.0% increase year-over-year.
Total Omnipod revenue increased by 29.4% to $422.0 million.
Gross margin improved to 67.8%, up 1,250 basis points compared to the prior year.
Operating income was $54.8 million, representing 12.7% of revenue, up 1,180 basis points year-over-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
Insulet expects revenue growth of 22% to 25% for the quarter ending December 31, 2023.
Positive Outlook
- Total Omnipod revenue is projected to grow by 22% to 25%.
- U.S. Omnipod revenue is expected to increase by 28% to 31%.
- International Omnipod revenue is anticipated to rise by 5% to 8%.
- Drug Delivery revenue is forecasted to be between $3 million and $5 million (0% to 70% growth).
- Company is raising its expected gross margin to the mid-point of the range of 66% to 67%
Challenges Ahead
- There are no specific negative points mentioned in the provided guidance summary.
- The guidance is based on current expectations and is subject to various risks and uncertainties.
- Future results may differ materially from the provided guidance.
- The company does not undertake to update any forward-looking statement.
- The company now expects operating margin in the range of 9% to 10%, closer to the high-end of the range
Revenue & Expenses
Visualization of income flow from segment revenue to net income