At Insulet, revenues grow, but so do net losses
BILLERICA, Mass. – Insulet Corp. has reported fourth quarter revenues of $100.1 million, representing year-over-year growth of 38%. It has reported full-year revenues of $324.2 million, year-over-year growth of 12%. Revenues from the company’s signature product, the OmniPod Insulin Management System, were up 21% in the fourth quarter and 8% for the year. Net loss for the fourth quarter was $27.3 million, compared to a net loss of $5.4 million for the same period in 2014. Net loss for the year was $73.5 million, compared to a net loss of $51.5 million for 2014. Insulet was also in the headlines this month when it announced plans to sell Neighborhood Diabetes to Liberty Medical for $5 million. The company acquired Woburn, Mass.-based Neighborhood Diabetes for $63 million in 2011.