Insulet’s stock jumped over 20% following strong Q1 results that outperformed Wall Street expectations. The company reported $569 million in revenue—a 29% increase year-over-year—and adjusted earnings per share of $1.02, beating estimates by $0.23.
Despite a 31% dip in net profit to $35.4 million, Insulet’s revenue exceeded the $543.3 million consensus. The growth is attributed to continued global adoption of the Omnipod 5 insulin delivery system.
New CEO Ashley McEvoy said, “We see a path to scale from an emerging diabetes leader to a durable growth engine.”
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