Insulet Corporation reported full-year 2024 revenue of $2,071.6 million, a 22.1% increase year-over-year (21.9% constant currency), marking its ninth consecutive year of 20% or more constant currency revenue growth. Fourth-quarter 2024 revenue increased 17.2% to $597.5 million (17.1% constant currency).
Adjusted EPS for Q4 was $1.15, beating the consensus of $1.02, while sales of $597.5 million beat the consensus of $582.81 million. Gross margin for Q4 expanded 120 basis points to 72.1%, and operating income was $109.3 million, or 18.3% of revenue. For the full year 2024, gross margin was approximately 69% and operating margin was approximately 14.5%.
For 2025, Insulet provided guidance expecting total company revenue growth between 16% and 20% in constant currency, with Omnipod sales projected to increase by 17%-21%. Gross margin is guided to approximately 70.5% and operating margin to approximately 16.5%. This outlook reflects confidence in continued momentum and market penetration.
Exceeding $2 billion in annual revenue for the first time and delivering strong Q4 results demonstrate Insulet's sustained growth trajectory and market leadership. The positive earnings beat and optimistic 2025 guidance, including margin expansion, signal continued financial health and operational efficiency. The strong demand for Omnipod 5 in both Type 1 and Type 2 markets, coupled with international expansion, provides clear catalysts for future investor value.
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