Insulet (PODD) Misses Q1 EPS by 17c; raises guidance

Insulet (NASDAQ: PODD) reported Q1 EPS of $0.23, $0.17 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $441.7 million versus the consensus estimate of $424.04 million.

2024 Outlook:

Revenue Guidance (in constant currency):

For the year ending December 31, 2024, the Company is raising its expected revenue growth to a range of 14% to 18% (previously 12% to 17%). Revenue growth ranges by product line are:

Total Omnipod of 15% to 19% (previously 13% to 18%)

U.S. Omnipod of 17% to 21% (previously 16% to 21%)
International Omnipod of 12% to 15% (previously 7% to 10%)

Drug Delivery of (60)% to (50)% (unchanged)

For the quarter ending June 30, 2024, the Company expects revenue growth of 15% to 18%. Revenue growth ranges by product line are:

Total Omnipod of 18% to 21%

U.S. Omnipod of 21% to 24%
International Omnipod of 12% to 15%

Drug Delivery of (75)% to (70)% (approximately $4 million to $5 million)

Gross Margin and Operating Margin Guidance:

For the year ending December 31, 2024, the Company is reaffirming its expected gross margin of 68% to 69%, closer to the mid-point of the range.

For the year ending December 31, 2024, the Company is raising its expected operating margin to approximately 13.5% (previously approximately 13%).

For earnings history and earnings-related data on Insulet (PODD) click here.

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