Insulet Reports Second Quarter 2019 Revenue of $177 Million, An Increase Of 43% Year-Over-Year

Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod^® Insulin Management System (Omnipod System), today announced financial results for the three months ended June 30, 2019.

Recent Strategic Highlights:

• Began production in the second quarter on the Company’s first U.S. highly-automated manufacturing line
• Presented clinical data on the Omnipod Horizon^TM automated insulin delivery system, in which study participants – ages two through six – maintained glucose control in the target range for 73% of time overall and 85% during the overnight period
• Increased coverage for Omnipod DASH^TM in the U.S. to approximately half of all covered lives

“We had another strong quarter, as we made excellent progress on our strategic imperatives and delivered continued growth, profitability and financial outperformance,” said Shacey Petrovic, President and Chief Executive Officer. “We are investing in innovation in our product portfolio, automated manufacturing, and business model to ensure our customers get improved access to our life-changing technologies across the globe. Our consistently strong financial results give us confidence that we are executing the right strategy to drive strong, sustainable growth over the long-term. We are raising our outlook for full year 2019 and remain on track to meet our 2021 financial targets. We are taking important steps to unlock Insulet’s enormous potential and are excited to continue delivering superior growth and returns for investors.”

2019 Outlook:

• For the year ending December 31, 2019, the Company is raising its revenue guidance to a range of $700 to $715 million, representing growth of 24% to 27% (previously 18% to 22%). Revenue ranges by product line are:
  • U.S. Omnipod of $391 to $399 million, representing growth of 21% to 23% (previously 16% to 19%)
  • International Omnipod of $246 to $250 million, representing growth of 43% to 45% (previously 37% to 42%)
  • Drug Delivery of $63 to $66 million, representing a decline of 3% to 8% (previously a decline of 11% to 19%)
• For the quarter ending September 30, 2019, the Company expects revenue in the range of $174 to $181 million, representing growth of 15% to 20%. Revenue ranges by product line are:
  • U.S. Omnipod of $98 to $102 million, representing growth of 20% to 24%
  • International Omnipod of $61 to $63 million, representing growth of 22% to 26%
  • Drug Delivery revenue of $15 to $16 million, representing a decline of 15% to 21%

Future results may be affected by changes in ongoing assumptions and judgments, and may also be affected by non-recurring, unusual or unanticipated charges, expenses or gains. – Business Wire