Business
Insulet Reports Full Year 2021 Revenue Increase of 21% and Fourth Quarter 2021 Revenue Increase of 25% Year-Over-Year
Represents 6th Consecutive Year of Over 20% Revenue Growth; Annual Revenue Surpasses $1 Billion Omnipod 5 Automated Insulin Delivery System Receives U.S. FDA
About this update from Insulet Corporation
[{"type":"text","content":"\nRepresents 6th Consecutive Year of Over 20% Revenue Growth;\nAnnual Revenue Surpasses $1 Billion\n\nOmnipod 5 Automated Insulin Delivery System Receives U.S. FDA Clearance\n\n 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 and full year ended December 31, 2021.\n\nFull Year Financial Highlights:\n\n\nFull Year 2021 revenue of $1.1 billion, up 21.5%, or 19.7% in constant currency1, compared to $904.4 million in the prior year, at the high-end of the guidance range of 18% to 20% in constant currency\n\n\nTotal Omnipod revenue of $1.0 billion, an increase of 21.1%, or 19.2% in constant currency\n\n\nU.S. Omnipod revenue of $651.5 million, an increase of 23.6%\n\n\nInternational Omnipod revenue of $359.9 million, an increase of 16.9%, or 11.6% in constant currency\n\n\n\n\nDrug Delivery revenue of $87.4 million, an increase of 25.8%\n\n\n\n\nGross margin of 68.4%, up 400 basis points\n\n\nOperating income of $126.0 million, or 11.5% of revenue, compared to $51.5 million, or 5.7% of revenue, in the prior year\n\n\nNet income of $16.8 million, or $0.24 per diluted share (includes a loss on extinguishment of debt of $42.4 million), compared to net income $6.8 million, or $0.10 per diluted share, in the prior year\n\n\nAdjusted EBITDA1 of $215.9 million, or 19.6% of revenue, compared to $146.1 million, or 16.2% of revenue, in the prior year\n\n\nFourth Quarter Financial Highlights:\n\n\nFourth quarter 2021 revenue of $307.7 million, up 25.0%, or 25.7% in constant currency, compared to $246.1 million in the prior year, exceeds the guidance range of 19% to 25% in constant currency\n\n\nTotal Omnipod revenue of $275.8 million, an increase of 19.3%, or 20.1% in constant currency\n\n\nU.S. Omnipod revenue of $190.5 million, an increase of 27.7%\n\n\nInternational Omnipod revenue of $85.3 million, an increase of 4.2%, or 6.0% in constant currency\n\n\n\n\nDrug Delivery revenue of $31.9 million, an increase of 112.7%\n\n\n\n\nGross margin of 69.3%, up 380 basis points\n\n\nOperating income of $49.7 million, or 16.2% of revenue, compared to operating loss of $7.3 million, or 3.0% of revenue, in the prior year\n\n\nNet income of $29.2 million, or $0.42 p...