Insulet Reports First Quarter 2021 Revenue Increase of 27% Year-Over-Year

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[{"type":"text","content":" ACTON, Mass.--(BUSINESS WIRE)--\nInsulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced financial results for the three months ended March 31, 2021.\n\nFirst Quarter Financial Highlights:\n\n\nFirst quarter 2021 revenue of $252.3 million, up 27.4%, or 23.9% in constant currency1, compared to $198.0 million in the prior year, achieving high end of guidance of 20% to 24% on a constant currency basis\n\n\nTotal Omnipod revenue of $233.2 million, an increase of 22.9%, or 19.2% in constant currency\n\n\nU.S. Omnipod revenue of $143.3 million, an increase of 22.9%\n\n\nInternational Omnipod revenue of $89.9 million, an increase of 23.0%, or 13.4% in constant currency\n\n\n\n\nDrug Delivery revenue of $19.1 million, an increase of 130.1%\n\n\n\n\nGross margin of 66.4%, up 230 basis points\n\n\nOperating income of $16.3 million, or 6.5% of revenue, compared to $7.5 million, or 3.8% of revenue, in the prior year\n\n\nNet loss of $0.0 million, or $0.00 per diluted share, compared to net loss of $2.1 million, or $(0.03) per diluted share, in the prior year\n\n\nAdjusted EBITDA1 of $35.1 million, or 13.9% of revenue, compared to $24.3 million, or 12.3% of revenue, in the prior year\n\n\nRecent Strategic Highlights:\n\n\nPresented pivotal data results at the ENDO 2021 diabetes conference in March showing the Omnipod 5 Automated Insulin Delivery System significantly improved time in range and reduced HbA1c, while also maintaining or lowering hypoglycemia, in children, adolescents, and adults, ages 6 to 70 years, with Type 1 diabetes\n\n\nExpect to soon publish2 pivotal data results following recent acceptance by Diabetes Care\n\n\nPublished3 Patient Reported Outcome results from 3,592 users with Type 2 diabetes showing significant and clinically relevant reductions in HbA1c levels for the overall study population, regardless of prior treatment, after 90 days on Omnipod\n\n\nPublished4 an analysis of 2,911 Omnipod users in the German DPV registry showing a declining frequency of acute complications\n\n\nAchieved record first quarter U.S. and Total Omnipod new customer starts\n\n\nSuccessfully completed a $500 million Term Loan B financing, as well as a revolving line of credit, in part to pay down a portion of the outstanding conve...

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