Insulet (NSDQ:PODD) posted second-quarter results this week that beat the revenue consensus on Wall Street but missed on earnings estimates.
The Acton, Mass.-based company reported losses of -$25 million, or -37¢ per share, on sales of $263.2 million for the three months ended June 30 for a sales growth of 16.31% compared with Q2 2020.
Earnings per share were -37¢, 50¢ behind The Street, where analysts were looking for sales of $259.19 million.
“We’ve reached the midpoint of the year and remain on track to deliver another year of double-digit revenue growth, including meaningful acceleration in the second half of the year. We continue to advance our strategic imperatives and have sustained momentum across our business,” president and CEO Shacey Petrovic said in a news release. “The compelling clinical data we recently shared speaks to the power of our Omnipod product platform and its ability to deliver improved outcomes and quality of life for people of all ages. We are incredibly excited about the upcoming launch of Omnipod 5 and the tremendous value our new offering will provide people living with diabetes.”
Insulet said it is reaffirming its revenue guidance for the year. It expects revenue growth to be in the range of 16% to 20%.
Shares in PODD were down more than –7% to $260 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.