Minimed Group, Inc. · NASDAQ:MMED
Minimed — Q1 FY2027 Earnings Presentation
26 slides from Minimed's earnings presentation, Sep 1, 2026
Slide 1: Q1FY27 Results
Q1FY27 Results September 1, 2026
Slide 2: Contents
Contents 1 Growth Momentum and Execution 2 Q1 FY27 Financial Details 3 Updated FY27 Outlook 4 Appendix • Select non-GAAP financial measures • GAAP to Non-GAAP Reconciliations • Acronyms/Glossary Q1 FY27 Earnings 2
Slide 3: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the developme
Slide 4: Growth momentum and execution
Growth momentum and execution
Slide 5: Strong start to FY27
Masen, MiniMed Champion Strong start to FY27 Strong double digit organic revenue growth to start the year. Results ahead of expectations driven by US growth acceleration and continued robust International growth US: Double digit growth on strength of MiniMed Flex with Simplera Sync launch, which sta
Slide 6: Q1 FY27 results
Q1 FY27 results Revenue Adjusted EBITDA1 CGM attachment rate2 New pumps sold $843M $83.1M +16.6% reported 9.9% margin 69% +100 bps Q/Q 34k -17.9% Q/Q +15.8% organic1 +500 bps Y/Y +7.7% Y/Y Product revenue mix Geographic revenue mix Pumps United States Other3 $144M l 17% $240M l 28% +Low-20s% Org +13
Slide 7: Growth acceleration in Q1 FY27
Growth acceleration in Q1 FY27 Organic revenue growth1 WW International US New product introductions 15.8% 16.9% are driving both New 13.1% Pumps Sold and CGM 11.1% 11.4% attachment rate, resulting in LDD 8.6% LDD growth2 7.4% growth2 HSD 3.1% growth2 Q1 growth acceleration (0.1%) H1FY26 H2FY26 Q1FY
Slide 8: Breaking news: accelerating the pipeline
Breaking news: accelerating the pipeline Announced Aug. 17 Announced Today MiniMed Flex US MiniMed Fit FDA MiniMed Flex Vivera FCL Algo MiniMed Next-Gen Launch 510(k) Submitted CE Mark Secured Trial Enrolled Extended Wear Launched with Simplera 300-unit reservoir Early customer pilot Fully closed lo
Slide 9: Delivering our pipeline ahead of expectations
Delivering our pipeline ahead of expectations Timelines at IPO / S-1 (Say) Updates since IPO (Do) Change MiniMed 780G with Instinct EU launch CY27 July 2026 +4Q MiniMed Go EU launch Q1 CY26 Feb 2026 MiniMed Go US launch Spring CY26 May 2026 MiniMed Flex with Simplera US launch Fall CY26 June 2026 +2
Slide 10: Progressing Gen 3 portfolio refresh by end of CY27
Progressing Gen 3 portfolio refresh by end of CY27 Gen 2 Gen 3 AID systems Core Expansion 2023 2026 2025 2026 2027 MiniMed 780G & Flex Simplera & Instinct MiniMed Go MiniMed Fit & Vivera Durable pump AID CGM attachment Smart MDI Patch AID Growth algorithm driven by four engines Q1 FY27 Earnings 10
Slide 11: Q1 FY27 financial details
Q1 FY27 financial details
Slide 12: Q1 FY27 adjusted EBITDA
RE-AFFIRM FY27 GUIDANCE Q1 FY27 adjusted EBITDA Adj. EBITDA 16% On full year gross margin favorability 11.8% -310 bps +70 bps +300 bps -20 bps 12.2% Q1 FY27 Adj. EBITDA1 $45M -$37M $83M 9.9% margin $6M $4M Q1 FY27 Adj. EBITDA included two timing or non- operational impacts: $103M $85M New product in
Slide 13: Q1 FY27 balance sheet and cash flow
Q1 FY27 balance sheet and cash flow Q1 FCF of $21M excluding separation and standup use of cash Q1 Balance Sheet / Liquidity Cash: $207M Debt: $0M Undrawn $500M revolver +$41M $62M Separation/Standup Use of Cash: $111M +$50M $21M -$90M +$23M +$38M Free Cash Flow1 Conveyed B/S Impact Separation / Adj
Slide 14: FY27 outlook
FY27 outlook
Slide 15: FY27 guidance
Ambar, MiniMed Champion FY27 guidance Raising revenue on strong Q1 performance, reaffirming EBITDA margin Organic revenue growth Organic Revenue Implied FY27 FX³ Growth Guidance¹,² Reported Revenue Key Assumptions: Q4 FY26 ~10% ~+50 bps ~$3.42B Revenue growth Earnings Call Q1 FY27 MiniMed Flex US la
Slide 16: Summary: Innovation. Growth. Execution.
Viktoria, MiniMed Champion Summary: Innovation. Growth. Execution. Strong start to FY27 • Strong double digit revenue growth • US: growth acceleration on MiniMed Flex launch • International: robust, sustained double-digit growth driven by new sensors FY27 revenue guidance raised • ~10.5% organic rev
Slide 17: Select non-GAAP financial measures
Select non-GAAP financial measures
Slide 18: Select Non-GAAP Financial Measures
Select Non-GAAP Financial Measures Non-GAAP Financial Measures Except for “Net Sales” “US Sales” and “International Sales”, each of the line items on the following slide were not prepared in accordance with U.S. GAAP and are therefore non-GAAP financial measures. Except for “Net Sales”, “US Sales”,
Slide 19: Q1 Financial Results (Net Sales and Non-GAAP Financial Measures)
Q1 Financial Results (Net Sales and Non-GAAP Financial Measures) $M except margins Q1 FY261 Q1 FY271 Year over Year WW Net Sales $723 WW Net Sales $843 16.6% Organic revenue growth Organic revenue growth 15.8% US Sales $212 US Sales $240 13.1% International Sales $511 International Sales $603 18.1%
Slide 20: GAAP to non-GAAP reconciliations
GAAP to non-GAAP reconciliations
Slide 21: Organic revenue: GAAP to non-GAAP reconciliations
Organic revenue: GAAP to non-GAAP reconciliations Organic Revenue Growth 1Q FY26 (ending July 31, 2026) and 1Q FY27 (ending July 25, 2025) Q1 FY27 Earnings 21
Slide 22: P&L: GAAP to non-GAAP reconciliations
P&L: GAAP to non-GAAP reconciliations Q1 FY26 Gross Profit, R&D, and SG&A to Adj. Q1 FY27 Gross Profit, R&D, and SG&A to Adj. Gross Profit, Standalone Gross Profit, R&D and SG&A Adj. R&D (ex-timing), Adj. SG&A and Adj. SG&A (ex-timing) (in millions, except where noted) Q1 FY26 (in millions, except w
Slide 23: EBITDA: GAAP to non-GAAP reconciliations
EBITDA: GAAP to non-GAAP reconciliations Q1 FY26 Net Income to Adj. EBITDA and Q1 FY27 Net Income to Adj. EBITDA and Adj. Standalone EBITDA Adj. EBITDA (ex-timing and fx remeasurement) (in millions, except where noted) Q1 FY26 (in millions, except where noted) Q1 FY27 Net Income ($16) Net Income $0
Slide 24: Cash Flow: GAAP to non-GAAP reconciliations
Cash Flow: GAAP to non-GAAP reconciliations Q1 FY27 Net Cash Used in Operating Activities to Free Cash Flow, Free Cash Flow (ex-transition uses of cash) and Operating Cash Flow (ex-transition uses of cash) Free Cash Flow (in millions, except where noted) Q1 FY27 Net Cash Used in Operating Activities
Slide 25: Acronyms / glossary
Acronyms / glossary
Slide 26: Acronyms and glossary
Acronyms and glossary Growth Business Specific MiniMed Product Glossary LSD Low-Single Digit GLP-1 Glucagon-Like Peptide-1 Instinct 15-day sensor made by Abbott MSD Mid-Single Digit HCP Healthcare Professional 15-day sensor made by Abbott used with Instinct Go HSD High-Single Digit MiniMed Go IDE In