On Thursday February 22, Insulet Gave Q1 2024 Revenue Growth Guidance Of 17%-20%; For FY24, The Company Expects Revenue Growth In The Range Of 12%-17%
Portfolio Pulse from Benzinga Newsdesk
Insulet (PODD) provided its Q1 2024 and FY24 revenue growth guidance, expecting 17%-20% and 12%-17% growth respectively. The guidance accounts for a $20M-$25M shift in U.S. revenue due to accelerated pharmacy wholesaler orders ahead of a new ERP system implementation. Product line growth forecasts include a significant increase in Drug Delivery for Q1 2024. Gross margin is projected at 68%-69%, and operating margin at 13% for FY24, excluding a 60 basis point negative impact from the revenue shift.
February 26, 2024 | 8:20 pm
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Insulet provided positive revenue growth guidance for Q1 2024 and FY24, with significant growth in its Drug Delivery product line for Q1. Gross and operating margins are also expected to remain strong despite a revenue shift.
The positive revenue growth guidance, especially with the significant increase in the Drug Delivery product line for Q1 2024, indicates strong performance and operational efficiency. Despite the revenue shift due to the ERP system implementation, the maintained gross and operating margins suggest effective cost management and operational resilience, likely leading to a positive short-term impact on the stock.
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