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Insulet Reports Full Year 2019 Revenue of $738.2 Million, an Increase of 31%, and Fourth Quarter 2019 Revenue of $209.4 Million, an Increase of 27% Year-Over-Year
ACTON, Mass.--(BUSINESS WIRE)-- Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its
About this update from Insulet Corporation
[{"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® Insulin Management System (Omnipod System), today announced financial results for the three months and full year ended December 31, 2019.\n\n\nFull Year Financial Highlights:\n\n\n\nFull Year 2019 revenue of $738.2 million, up 31% compared to $563.8 million in the prior year, exceeds guidance of $722 to $730 million\n\n\nTotal Omnipod revenue of $673.5 million, an increase of 36%\n\n\nU.S. Omnipod revenue of $420.4 million, an increase of 30%\n\n\nInternational Omnipod revenue of $253.1 million, an increase of 47%\n\n\n\n\nDrug Delivery revenue of $64.7 million, a decrease of 5%\n\n\n\n\nGross margin of 65.1%, down 60 basis points\n\n\nOperating income of $50.0 million compared to $27.4 million in the prior year\n\n\nNet income of $11.6 million, or $0.19 per diluted share, compared to $3.3 million, or $0.05 per share, in the prior year\n\n\n\nFourth Quarter Financial Highlights:\n\n\n\nFourth quarter 2019 revenue of $209.4 million, up 27% compared to $164.9 million in the prior year, exceeds guidance of $193 to $201 million\n\n\nTotal Omnipod revenue of $192.5 million, an increase of 30%\n\n\nU.S. Omnipod revenue of $126.7 million, an increase of 36%\n\n\nInternational Omnipod revenue of $65.8 million, an increase of 20%\n\n\n\n\nDrug Delivery revenue of $16.9 million, an increase of 1%\n\n\n\n\nGross margin of 64.0%, down 290 basis points\n\n\nOperating income of $18.2 million compared to $16.2 million in the prior year\n\n\nNet income of $5.0 million, or $0.08 per diluted share, compared to $9.9 million, or $0.16 per share, in the prior year\n\n\n\nRecent Strategic Highlights:\n\n\n\nEntered pivotal trial for the Omnipod Horizon™ automated insulin delivery system, including 240 participants ages 6 to 70 years old\n\n\nBroadened collaboration with DexCom to integrate its G6 and future G7 continuous glucose monitoring systems into the Omnipod Horizon system\n\n\nExpanded partnership with Abbott to integrate its next-generation Libre glucose sensing technology into the next-generation Omnipod Horizon system\n\n\nExpanded market access, including access through the pharmacy channel, particularly to individuals living with Type 2 diabetes\n\n\nInstalled second U.S. ma...