Insulet Corporation (NASDAQ:PODD) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.75%.
Insulet Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.20 in the quarter versus EPS of $-0.31 in the year-earlier quarter.
Revenue: Rose 20.21% to $57.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Insulet Corporation reported adjusted EPS loss of $0.20 per share. By that measure, the company beat the mean analyst estimate of $-0.21. It beat the average revenue estimate of $57.26 million.
Quoting Management: “We are pleased with the initial launch of the new, smaller and lighter OmniPod in the U.S.,” said Duane DeSisto, President and Chief Executive Officer of Insulet. “Our customers and healthcare professionals have been sharing their positive feedback about the reduced size, ease of use and change to the insulin on board calculation. Demand for the new OmniPod has been tremendous with referrals and initial shipments up by more than 40% over the last two months as compared to the prior year. In the coming weeks, we expect to begin converting the existing customer base to the new OmniPod and continue to expect the transition to be completed by the end of the third quarter.”
Key Stats (on next page)…