Insulet said total revenue for the 3 months ended September 30, 2024 was $543.9 million, up 25.7% from $432.7 million a year earlier, and total revenue for the 9 months rose 24.2% to $1,474.1 million.

1. 01

   Insulet said total revenue for the 3 months ended September 30, 2024 was $543.9 million, up 25.7% from $432.7 million a year earlier, and total revenue for the 9 months rose 24.2% to $1,474.1 million.

2. 02

   The company said gross margin for Q3 2024 was 69.3%, up 150 basis points from 67.8% a year earlier. It said gross margin for the 9 months was 68.8%, partly offset by a $13.5 million charge related to Omnipod GO components.

3. 03

   The company said net cash provided by operating activities for 2024 was $282.6 million over the first 9 months, reflecting adjusted net income offset by a working capital outflow of $17.7 million. It cited a $38.6 million increase in inventories as one of the drivers of the outflow.

4. 04

   The company said its effective tax rate for the 9 months ended in 2024 was a benefit of 68.2%. It cited a $165.6 million non-cash tax benefit from releasing most of its valuation allowance against deferred tax assets as the main factor.

Key figures

Quarter ended September 30, 2024

Revenue

$544M

Operating income

$88M

Net income

$78M

EPS

$1.08

Gross profit

$377M

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

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.