Insulet (NSDQ:PODD) stock is down today — a day after the wearable insulin delivery system developer posted break-even Q1 results that were lower than analysts’ expectations.
The company, however, yesterday evening raised the low end of its revenue guidance range to 16–20%. The range was previously 15–20%.
The Acton, Mass.-based company a net loss of $0.0 million, or 0¢ per diluted share, on sales of $246.1 million for the three months ended March 31 — versus a net loss of –$2.1 million, or –3¢ per share for Q1 2020. Sales were up 27.4%.
Adjusted to exclude one-time items, earnings per share were $0.00. Analysts were looking for EPS of 8¢ on sales of $247.1 million.
“We’re off to a great start in 2021 with strong first-quarter revenue results,” said president and CEO Shacey Petrovic. “We are excited for the commercial launch of Omnipod 5, and the pivotal data we shared at ENDO 2021 clearly demonstrates the benefits and value it delivers to both children and adults.”
The company recently released data demonstrating that its Omnipod 5 automated insulin delivery system helped people with diabetes manage blood glucose while lowering HbA1c levels.
Insulet reaffirmed its expectations of achieving operating margin in the low double digits range at the end of the year.
Investors reacted by sending XPLT shares down –5.34% to $239.64 apiece by midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.
This story originally ran Thursday, May 6, 2021. Updated May 7 to include day-after stock price.