Wednesday, November 14, 2007

Insulet Reports 3rd Quarter Results

Click here for the press release.

Highlights include...
+ 3200 Omnipod users (up 750 (or 31%) from last quarter and up by 1200 from the end of 2006)
+ Reported revenue of $3.8M, over 3x higher than the same quarter last year
+ Operating expenses grew to $10.8M driven by significant increases in G&A and Sales and Marketing
+ Insulet has production capacity of 45,000 omnipods/month (~4,500 users) with plans to increase capacity to 200,000 per month (~20,000 users) by the end of 2008 after just updating their agreement with Flextronics (a contract manufacturer)
+ Insulet sales force is in 35 states
+ Insulet has signed contracts with insurance companies that cover 137 million people
+ Insulet increased its guidance for 2007 revenue from $10-12 million to $13 million

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