Insulet Q2 revenue up 23% to $488.5M, beats guidance; raises FY2024 outlook

INSULET CORP

2024-Q2 EPS reported $3.32 revenue$930,200,000

Revenue $488.5M (+23.2% YoY), exceeds high end of guidance of 18% constant currency growth.
Omnipod revenue $480.4M (+26.3%); U.S. $352.3M (+27.3%), International $128.1M (+23.5%).
GAAP net income $188.6M ($2.59 EPS) includes $151.7M valuation release; adjusted net income $38.3M ($0.55 EPS).
Gross margin 67.7% (up 90bps) despite $13.5M inventory charge; operating margin 11.2% vs 7.8% prior year.
Raises full-year 2024 revenue, gross margin, and operating margin guidance.

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