Slide 1: Insulet Corporation Q4 2023 Earnings
Insulet Corporation Q4 2023 Earnings February 22, 2024 Christian Podder Since 2020
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains forward-looking statements regarding, among other things, future operating and financial performance, product success and efficacy, the outcome of studies and trials and the approval of products by regulatory bodies. These forward-looking statemen
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses the following non-GAAP financial measures: • Constant currency revenue growth, which represents the change in revenue between current and prior year periods using the exchange rate in effect during the applicable prior year period. Insulet presents consta
Slide 4: Recent Financial Highlights
Recent Financial Highlights Highlights • 8th consecutive year of 20% or more constant currency1 revenue growth • #1 in U.S. new customer starts in 20232 • Recently achieved milestones of ~425,000 estimated active global customers (approximately 25% annual growth) 3, including 250,000 global customer
Slide 5: Recent Strategic Highlights
Recent Strategic Highlights Shepherd & Emmett Eloise John Podders Since 2023 Podder Since 2023 Podder Since 2019 Expand Access & Awareness International Innovation & Clinical • Majority of U.S. customers have a monthly co-pay • Received CE Mark approval for Omnipod 5 • Began U.S. LMR of Omnipod 5 wi
Slide 6: Financial Performance
Financial Performance Total Revenue & Growth Rates1 U.S. Omnipod Revenue and Growth Rates1 Adjusted Gross Profit and Margin2 Int'l Omnipod Revenue and Growth Rates1 Adjusted Operating Income & Margin2 Total Omnipod Revenue & Growth Rates1 1. Growth rates are on a year-over-year basis and for 2020 th
Slide 7: Key Commercial Metrics - Q4 2023
Key Commercial Metrics - Q4 2023 Vast ~80% 20% - 25% Majority of U.S. New of U.S. New Starts were of U.S. Volume Starts were MDI Type 2 through Pharmacy Vast ~90% Stable Majority Global Global of U.S. New Retention Utilization Starts on Omnipod 5 Note: All commercial metrics are directional estimate
Slide 8: Product Development Status - Q4 2023
Product Development Status - Q4 2023 Legend Commercial Regulatory Product Innovation Pipeline U.S. Strategy Development International Classic Omnipod Omnipod DASH Omnipod 5 w/ U.S. full market release August 2022; CE Mark September 2022 G6 U.K. release in June 2023; Germany release in August 2023; P
Slide 9: Guidance Highlights - 2024
Guidance Highlights - 2024 FY 2024 Q1 2024 FY 2024 FY 2024 Revenue Growth1 Revenue Growth1 Gross Margin Operating Margin 12% to 17%2 17% to 20%3 68% to 69% ~13%2 U.S. Omnipod2 U.S. Omnipod3 Expect to be closer to Expect 2H'24 to be higher than 16% to 21% 19% to 22% mid-point of the range 1H'24 Inter
Slide 10: Revenue Guidance Reconciliation
Revenue Guidance Reconciliation FY 2024 Q1 2024 Revenue Growth Currency Revenue Growth Currency GAAP Impact Constant Currency GAAP Impact Constant Currency U.S. Omnipod 16% to 21% —% 16% to 21% 19% to 22% —% 19% to 22% International Omnipod 7% to 10% —% 7% to 10% 6% to 9% 1% 5% to 8% Total Omnipod 1
Slide 11: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures % of % of % of % of % of FY2023 Revenue FY2022 Revenue FY2021 Revenue Q4 2023 Revenue Q4 2022 Revenue Total Revenue GAAP Growth Rate 30.0% 18.8% 21.5% 37.9% 20.1% Less: Currency Impact 0.4% (3.7)% 1.8% 1.3% (3.6)% Constant Currency 29.6% 22.5% 19.7% 36.6% 23.7% To