Business
Insulet Reports Preliminary Second Quarter 2024 Revenue Results
Second Quarter Revenue Increased 23% Year-Over-Year Raising Full Year 2024 Total Omnipod Revenue Outlook ACTON, Mass.--(BUSINESS WIRE)-- Insulet Corporation
About this update from Insulet Corporation
[{"type":"text","content":"\nSecond Quarter Revenue Increased 23% Year-Over-Year\n\n\nRaising Full Year 2024 Total Omnipod Revenue Outlook\n\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 certain preliminary revenue results for the three months ended June 30, 2024. The Company plans to report full second quarter 2024 financial results on August 8, 2024, as planned, and host a conference call that day at 4:30 p.m. (Eastern Time).\n\n\nPreliminary Second Quarter Revenue Highlights:\n\n\n\nSecond quarter 2024 revenue of $488 million, up 23%, compared to $397 million in the prior year, exceeds the guidance range of 15% to 18% in constant currency due to revenue outperformance for all product lines\n\n\nTotal Omnipod revenue of $480 million, an increase of 26%\n\n\nU.S. Omnipod revenue of $352 million, an increase of 27%\n\n\n\nInternational Omnipod revenue of $128 million, an increase of 23%, or 24% in constant currency1\n\n\n\n\n\n\nDrug Delivery revenue of $8 million\n\n\n\n\n\n\n“Second quarter revenue exceeded our expectations across the board as a result of strong demand for Omnipod 5, resulting in robust revenue growth and sequential increases in new customer starts in both the U.S. and international markets,” said Jim Hollingshead, President and Chief Executive Officer. “The preliminary results we announced today reinforce our confidence in Insulet’s ability to drive continued profitable growth for the remainder of 2024, and we look forward to providing an update on our upcoming earnings call.”\n\n\n2024 Outlook\n\n\nThe Company expects to raise its full year 2024 Total Omnipod revenue outlook to a range of 18% to 21% (previously 15% to 19%) when it releases its full financial results on August 8, 2024.\n\n\nAbout Insulet Corporation:\n\n\nInsulet Corporation (NASDAQ: PODD), headquartered in Massachusetts, is an innovative medical device company dedicated to simplifying life for people with diabetes and other conditions through its Omnipod product platform. The Omnipod Insulin Management System provides a unique alternative to traditional insulin delivery methods. With its simple, wearable design, the tubeless disposable Pod provides up to three days of non-stop insulin delivery, without the need ...