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Insulet Reports Third Quarter 2021 Revenue Increase of 18% 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® brand of products, today announced financial results for the three months ended September 30, 2021.\n\nThird Quarter Financial Highlights:\n\n\nThird quarter 2021 revenue of $275.6 million, up 17.8%, or 16.9% in constant currency1, compared to $234.0 million in the prior year, within the guidance range of 11% to 18% on a constant currency basis\n\n\nTotal Omnipod revenue of $260.3 million, an increase of 22.7%, or 21.7% in constant currency\n\n\nU.S. Omnipod revenue of $167.2 million, an increase of 26.4%\n\n\nInternational Omnipod revenue of $93.1 million, an increase of 16.7%, or 14.1% in constant currency\n\n\n\n\nDrug Delivery revenue of $15.3 million, a decrease of 30.1%\n\n\n\n\nGross margin of 68.5%, up 360 basis points\n\n\nOperating income of $33.7 million, or 12.2% of revenue, compared to $23.8 million, or 10.2% of revenue, in the prior year\n\n\nNet income of $12.6 million, or $0.18 per diluted share (includes a loss on extinguishment of debt of $1.5 million related to the note holders conversion of convertible notes), compared to net income of $11.6 million, or $0.17 per diluted share, in the prior year\n\n\nAdjusted EBITDA1 of $55.7 million, or 20.2% of revenue, compared to $42.3 million, or 18.1% of revenue, in the prior year\n\n\nRecent Strategic Highlights:\n\n\nPresented data at the EASD 2021 diabetes conference:\n\n\nOmnipod® 5 Automated Insulin Delivery System (Omnipod 5) pivotal extension results demonstrating statistically significant improved safety and glycemic outcomes observed in the three-month Omnipod 5 pivotal study were maintained over 12 months of home use\n\n\nOmnipod DASH® results from the Company’s largest cohort study of people living with type 1 diabetes demonstrating a significant decrease in A1c after 90 days of use for children, adolescents, and adults\n\n\n\n\nPublished results in Diabetes Technology & Therapeutics2 that demonstrated a CGM-informed bolus calculator was safe when used with Omnipod 5 in manual mode, with fewer hypoglycemic readings in the post-bolus period compared to a standard bolus calculator\n\n\nReceived FDA clearance for use of Lyumjev® with Omnipod and Omnipod DASH systems\n\n\nLaunched Omnipod DASH in Au...