Friday, March 28, 2008

Insulet Reports 4th Quarter (2007) Results

Click here for the press release.

Highlights include...
+ 4150 OmniPod users and now is selling in 40 states
+ Reported revenue of $4.4M, increased 166% from the same quarter a year ago
+ Operating expenses grew to $10.8M driven by significant increases in G&A and Sales and Marketing
+ Insulet production capacity grew from 45,000 omnipods/month to 75000 OmniPods/month. They state they have been able to accelerate manufacturing capacity so they are planning significant investment in sales and customer support to drive new customers by the end of 2008
+ Insulet amended its agreement with Abbot Diabetes Care to make Abbott's Freestyle glucose meter the exclusive meter for the PDM
+ Full year revenue for 2007 was $13.4M compared to $3.7M in 2006. They forecast that 2008 revenue will be between $40M and $45M.
+ Insulet achieved a net loss of $53M in 2007 compared to a new loss of $36M in 2006. They forecast a net loss of $55M-$60M in 2008 with plans to achieve positive gross margins in the last quarter of 2008.

Tips and Tricks for New Users

Carly at started on the OmniPod at the same time I did. I just found her blog and she has some great tips for new users.
+ When filling a new Pod, you do not have to put in a full 200 units. No one mentioned this to me, and I did not stop doing so until I realized I was going through my Humalog bottles like crazy. Just put in what you typically use in 3 days plus about 10 units.
+ After you fill the Pod and it primes itself, I like to use a Q-Tip to gently absorb any insulin that has leaked out into the window area. If you leave the moisture in there, it can make the site swollen and uncomfortable later.
+ There are some back up supplies you should always carry: 2 spare Pods, vial of insulin, backup insulins (I carry one Humalog and one Lantus pen), pen needles or syringes, alcohol or prep wipes, glucose tablets, a spare lancet. Of course you always need your main squeeze (the PDM), finger poker, and test strips. I keep all of this in a clear makeup case that I bought at Target, with my Medical ID card from Omnipod visible.
+ I have found that using alcohol wipes to prep the site preferable to the "IV Prep" wipes recommended by my doctor. The Pod is much stickier with alcohol.
+ I have been successful wearing the Pod on my...abdomen (avoiding the ribs and not within 2 inches of the belly button), upper arms (facing downward on tricep), lower back (can be difficult with jeans).
+ I cannot seem to find a viable site on my thighs. My CDE said to choose a site where you can "pinch an inch" of fat, and it seems to be a useful rule.