Insulet Corporation reported strong financial results for Q3 2024, with total revenue increasing 25.7% to $543.9 million, driven by robust Omnipod sales growth. U.S. Omnipod revenue rose 23.4% to $395.6 million, while International Omnipod revenue jumped 36.1% to $138.0 million. Net income grew 49.3% to $77.5 million, with gross margin improving to 69.3% from 67.8% year-over-year.The company achieved significant operational milestones, including the launch of Omnipod 5 with Dexcom's G7 CGM in the U.S. and expansion of Omnipod 5 availability in European markets. Production began at the new Malaysia manufacturing facility, which is expected to drive higher gross margins over time. The company also received FDA clearance for Omnipod 5 use in type 2 diabetes patients.Looking ahead, Insulet expects continued strong revenue growth driven by Omnipod 5 adoption and international expansion. The company maintains a solid financial position with $902.6 million in cash and cash equivalents. Management anticipates full-year 2024 gross margin to be approximately 69%, supported by higher average selling prices and improved manufacturing efficiencies.

Insulet Corporation reported strong financial results for Q3 2024, with total revenue increasing 25.7% to $543.9 million, driven by robust Omnipod sales growth. U.S. Omnipod revenue rose 23.4% to $395.6 million, while International Omnipod revenue jumped 36.1% to $138.0 million. Net income grew 49.3% to $77.5 million, with gross margin improving to 69.3% from 67.8% year-over-year.The company achieved significant operational milestones, including the launch of Omnipod 5 with Dexcom's G7 CGM in the U.S. and expansion of Omnipod 5 availability in European markets. Production began at the new Malaysia manufacturing facility, which is expected to drive higher gross margins over time. The company also received FDA clearance for Omnipod 5 use in type 2 diabetes patients.Looking ahead, Insulet expects continued strong revenue growth driven by Omnipod 5 adoption and international expansion. The company maintains a solid financial position with $902.6 million in cash and cash equivalents. Management anticipates full-year 2024 gross margin to be approximately 69%, supported by higher average selling prices and improved manufacturing efficiencies.