Insulet said total revenue for the 3 months ended March 31, 2024 was $441.7 million, up $83.6 million, or 23.3%, from $358.1 million a year earlier. The company cited higher volume as the main driver of constant currency growth of 22.8%, with the increase in volume the primary factor.

10-QQuarterly reportFiled May 10, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Insulet said total revenue for the 3 months ended March 31, 2024 was $441.7 million, up $83.6 million, or 23.3%, from $358.1 million a year earlier. The company cited higher volume as the main driver of constant currency growth of 22.8%, with the increase in volume the primary factor.
The company said gross margin for the 3 months was 69.5%, compared with 67.2% a year earlier, a 230 basis points increase. It said the year-earlier warranty accrual reversal of $8.0 million did not recur in the period, which partly offset the increase.
The company said U.S. Omnipod revenue for the 3 months was $317.7 million (up 22.7%), international Omnipod revenue was $115.3 million (up 16.9%), and Drug Delivery revenue was $8.7 million (compared with $0.5 million a year earlier).
The company said net cash provided by operating activities for the 3 months was $87.6 million. Net cash used in investing activities over the same period was $24.0 million, and capital expenditures were $22.1 million.

Key figures

Quarter ended March 31, 2024

Revenue: $442M
Operating income: $57M
Net income: $52M
EPS: $0.73
Gross profit: $307M
Operating cash flow: $88M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 total revenue $441.7 million

Insulet said total revenue for the 3 months ended March 31, 2024 was $441.7 million, up $83.6 million, or 23.3%, from $358.1 million a year earlier. The company cited higher volume as the main driver of constant currency growth of 22.8%, with the increase in volume the primary factor.

Source · Based on the MD&A text of the filing

Gross margin was 69.5%, compared with 67.2% a year earlier

The company said gross margin for the 3 months was 69.5%, compared with 67.2% a year earlier, a 230 basis points increase. It said the year-earlier warranty accrual reversal of $8.0 million did not recur in the period, which partly offset the increase.

Source · Based on the MD&A text of the filing

U.S. and International Omnipod and Drug Delivery revenue

The company said U.S. Omnipod revenue for the 3 months was $317.7 million (up 22.7%), international Omnipod revenue was $115.3 million (up 16.9%), and Drug Delivery revenue was $8.7 million (compared with $0.5 million a year earlier).

Source · Based on the MD&A text of the filing

Operating cash flow $87.6 million, investing outflow $24.0 million

The company said net cash provided by operating activities for the 3 months was $87.6 million. Net cash used in investing activities over the same period was $24.0 million, and capital expenditures were $22.1 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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