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Sep 30, 2024
Insulet Q3 2024 Earnings Report
Reported a revenue increase of 26% year-over-year (25% constant currency).
Key Takeaways
Insulet reported strong third-quarter results, with revenue reaching $543.9 million, a 25.7% increase year-over-year. The company raised its full-year revenue and margin guidance, driven by the success of Omnipod 5 and its recent FDA clearance for type 2 diabetes.
Third quarter revenue increased by 25.7% to $543.9 million.
Total Omnipod revenue grew by 26.4% to $533.6 million.
Gross margin increased to 69.3%, up 150 basis points year-over-year.
Operating income increased to $88.1 million, or 16.2% of revenue, up 350 basis points year-over-year.
Revenue by Segment
Forward Guidance
The Company expects revenue growth of 12% to 15% for the quarter ending December 31, 2024, with Omnipod revenue growth of 13% to 16%.
Positive Outlook
- Total Omnipod revenue is expected to grow by 13% to 16%.
- U.S. Omnipod revenue is expected to grow by 9% to 12%.
- International Omnipod revenue is expected to grow by 30% to 33%.
- Gross margin is expected to be approximately 69%.
- Operating margin is expected to be approximately 14.5%.
Challenges Ahead
- Drug Delivery revenue is expected to decline by 20% to 15% (approximately $7 million to $8 million).
- U.S. Omnipod revenue in the fourth quarter of 2023 benefited from two stocking dynamics totaling an estimated $30 million to $40 million (impacting fourth quarter of 2024 U.S. Omnipod revenue growth by ~1,100 basis points).
- Worldwide macroeconomic and geopolitical uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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