Insulet Posts Q2 Revenue Beat, Lifts FY22 Guidance

Insulet Corporation PODD posted a Q2 net loss of $(35) million, or an EPS loss of $(0.50) compared to $(0.37) a year ago.
Q2 sales increased 13.8% Y/Y, or 17.7% in constant currency, to $299.4 million, exceeding the guidance range of 12%-15% in constant currency and the consensus of $291.45 million.
Total Omnipod automated insulin delivery system revenue was $285.8 million, +18.1%.
Sales for Omnipod in the U.S. totaled $196.4 million, representing an increase of 30.5%.
Earlier this week, the company announced the full market launch of the latest-generation Omnipod 5 device in U.S. pharmacies.
Guidance: Insulet raised its FY22 revenue growth guidance to 14% - 17% from 12% - 16%.
The company expects growth for Omnipod sales of 18%-21% from 16% - 20% expected earlier.
For Q3, the forecasts sales growth of 17% - 20%, with Omnipod growth of 18% - 21%.
Analyst Reaction: Piper Sandler and Raymond James maintain Neutral and Outperform on Insulet, with the price target raised to $235 from $230 and $280 from $262, respectively.
Price Action: PODD shares closed 0.78% higher at $258.00 during after-hours trading on Thursday.

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