Loading...
•
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.
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 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.
- The assumed order timing shift of $20 million to $25 million in revenue noted above is not expected to impact gross margin.
- The year-over-year estimated impact of this shift is 130 basis points.
Revenue & Expenses
Visualization of income flow from segment revenue to net income