Insulet loses ground in first quarter

Tuesday, May 5, 2015

BILLERICA, Mass. – Insulet, maker of the OmniPod insulin management system, reported revenues of $61.2 million for the first quarter of 2015, an 11% decrease compared to the same period last year. Net loss was $11.8 million vs. $6.1 million. "With our U.S. OmniPod business on track, in spite of some unevenness in our first quarter performance in our other product areas, we remain on track to achieve our originally-stated full-year revenue expectations and we are excited about the promising opportunities ahead of us," stated Patrick Sullivan, president and CEO, in a release. "We recognize that we have work to do, however we are achieving important milestones in executing a strategy to ramp Insulet's sales and marketing efforts, enhance access to our innovative and differentiated technology, and further improve our global footprint. I am confident that we have the right talent to lead Insulet and position the company for sustained accelerated growth over the long-term." Insulet recently appointed a highly experienced CFO and has made other executive appointments across sales, marketing, managed care, customer support and investor relations. For the second quarter, it expects to generate revenues of $67 million to $70 million, and for the full year, it expects to generate revenues of $305 million to $320 million.