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Dec 31, 2023
Insulet Q4 2023 Earnings Report
Insulet reported a strong Q4 2023 with a revenue increase of 38% year-over-year and eighth consecutive year of 20% or more constant currency revenue growth.
Key Takeaways
Insulet Corporation reported Q4 2023 revenue of $509.8 million, a 37.9% increase year-over-year. The company's growth was fueled by the rapid adoption of Omnipod 5 and strong execution. They are well-positioned for continued profitable growth and value creation.
Q4 2023 revenue increased by 38% year-over-year (37% in constant currency).
Omnipod revenue increased by 36.7% year-over-year (35.4% in constant currency).
U.S. Omnipod revenue increased by 42.9% year-over-year.
Achieved milestones of 425,000 estimated active global customers using Omnipod products.
Revenue by Segment
Forward Guidance
The company expects revenue growth of 12% to 17% for the year ending December 31, 2024. For the quarter ending March 31, 2024, the Company expects revenue growth of 17% to 20%.
Positive Outlook
- Total Omnipod revenue is expected to grow by 13% to 18% for the year ending December 31, 2024.
- U.S. Omnipod revenue is expected to grow by 16% to 21% for the year ending December 31, 2024.
- Total Omnipod revenue is expected to grow by 15% to 18% for the quarter ending March 31, 2024.
- U.S. Omnipod revenue is expected to grow by 19% to 22% for the quarter ending March 31, 2024.
- Drug Delivery revenue is expected to grow by 1,020% to 1,220% for the quarter ending March 31, 2024.
Challenges Ahead
- International Omnipod revenue is expected to grow by 7% to 10% for the year ending December 31, 2024.
- Drug Delivery revenue is expected to decline by 60% to 50% for the year ending December 31, 2024.
- Revenue guidance for the first quarter and full year 2024 reflects an estimated $20 million to $25 million in revenue related to U.S. pharmacy wholesaler orders that were accelerated into the fourth quarter of 2023 from the first quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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