Island Corp’s (NASDAQ: PODD) Fourth-quarter FY21 revenue increased 25% (25.7% in constant currency) to $307.7 million, beating consensus of $301.06 million dollars.
- The company generated $275.8 million in revenue for its Omnipod insulin delivery platform for the quarter, representing a 19.3% increase.
- Insulet posted EPS of $0.42 in the fourth quarter, a change from the EPS loss of ($0.26) a year ago and beat consensus by $0.32.
- Insulet last month received FDA clearance for the next-generation Omnipod 5 and is in the midst of a limited platform launch.
- Related: FDA Approves Insulet’s Omnipod Automated Insulin Delivery System for Patients Age 6 and Older.
- The company submitted data from the pivotal Omnipod 5 Preschool (2 to 6 year old) study to the FDA.
- “2021 was another successful year for Insulet as we achieved a significant milestone of over $1 billion in revenue and advanced our strategic priorities,” said Shacey Petrovic, President and CEO of Insulet. .
- Advice (in DC): Insulet forecasts revenue growth of 12% to 16% for FY22, with an expected 15% to 20% increase in sales of the Omnipod platform.
- For the first quarter of FY22, the company expects revenue growth of 13% to 16%, with Omnipod sales growth of 13% to 16%.
- Price action: PODD shares closed down 1.59% at $230.82 on Wednesday.
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