On Thursday February 22, Insulet Gave Q1 2024 Revenue Growth Guidance Of 17%-20%; For FY24, The Company Expects Revenue Growth In The Range Of 12%-17%

Author: Benzinga Newsdesk | February 26, 2024 04:20pm

2024 Outlook:

Revenue Guidance (in constant currency):

Guidance for the first quarter and full year 2024 reflects an estimated $20 million to $25 million in revenue related to U.S. pharmacy wholesaler orders that were accelerated into the fourth quarter of 2023 from the first quarter of 2024 in advance of the Company's implementation of a new ERP system on January 1, 2024 (i.e., 2024 growth rates reflect $20 million to $25 million less in U.S. revenue in 2024 and $20 million to $25 million more in 2023):

• For the year ending December 31, 2024, the Company expects revenue growth in the range of 12% to 17%. Revenue growth ranges by product line are:
  • Total Omnipod of 13% to 18%
    • U.S. Omnipod of 16% to 21%
    • International Omnipod of 7% to 10%
  • Drug Delivery of (60)% to (50)%
• For the quarter ending March 31, 2024, the Company expects revenue growth of 17% to 20%. Revenue growth ranges by product line are:
  • Total Omnipod of 15% to 18%
    • U.S. Omnipod of 19% to 22%
    • International Omnipod of 5% to 8%
  • Drug Delivery of 1,020% to 1,220% (approximately $5 million to $6 million)

Gross Margin and Operating Margin Guidance:

For the year ending December 31, 2024, the Company expects gross margin of 68% to 69%, closer to the mid-point of the range. The assumed order timing shift of $20 million to $25 million in revenue noted above is not expected to impact gross margin.

For the year ending December 31, 2024, the Company expects operating margin of approximately 13%. This guidance excludes the estimated 60 basis point negative impact associated with the assumed order timing shift noted above. The year-over-year estimated impact of this shift is 130 basis points.

Posted In: PODD