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Insulet Corporation Insulet Reports First Quarter 2021 Revenue Increase of 27 % Year - Over - Year May 6 , 2021 ACTON , Mass .-- ( BUSINESS WIRE ) -- May 6 , 2021-- Insulet Corporation ( NASDAQ : PODD ) ( Insulet or the Company ) , the global leader in tubeless insulin pump technology with its Omnipod® brand of products , today announced financial results for the three months ended March 31 , 2021 . First Quarter Financial Highlights : • First quarter 2021 revenue of $ 252.3 million , up 27.4 % , or 23.9 % in constant currency¹ , compared to $ 198.0 million in the prior year , achieving high end of guidance of 20 % to 24 % on a constant currency basis o Total Omnipod revenue of $ 233.2 million , an increase of 22.9 % , or 19.2 % in constant currency ■ U.S. Omnipod revenue of $ 143.3 million , an increase of 22.9 % ■ International Omnipod revenue of $ 89.9 million , an increase of 23.0 % , or 13.4 % in constant currency o Drug Delivery revenue of $ 19.1 million , an increase of 130.1 % • Gross margin of 66.4 % , up 230 basis points ● Operating income of $ 16.3 million , or 6.5 % of revenue , compared to $ 7.5 million , or 3.8 % of revenue , in the prior year • Net loss of $ 0.0 million , or $ 0.00 per diluted share , compared to net loss of $ 2.1 million , or $ ( 0.03 ) per diluted share , in the prior year • Adjusted EBITDA¹ of $ 35.1 million , or 13.9 % of revenue , compared to $ 24.3 million , or 12.3 % of revenue , in the prior year Recent Strategic Highlights : • Presented pivotal data results at the ENDO 2021 diabetes conference in March showing the Omnipod 5 Automated Insulin Delivery System significantly improved time in range and reduced HbA1c , while also maintaining or lowering hypoglycemia , in children , adolescents , and adults , ages 6 to 70 years , with Type 1 diabetes • Expect to soon publish² pivotal data results following recent acceptance by Diabetes Care • Published³ Patient Reported Outcome results from 3,592 users with Type 2 diabetes showing significant and clinically relevant reductions in HbA1c levels for the overall study population , regardless of prior treatment , after 90 days on Omnipod • Published an analysis of 2,911 Omnipod users in the German DPV registry showing a declining frequency of acute complications • Achieved record first quarter U.S. and Total Omnipod new customer starts • Successfully completed a $ 500 million Term Loan B financing , as well as a revolving line of credit , in part to pay down a portion of the outstanding convertible notes due 2024 • Upgraded by MSCI to an Environmental , Social and Governance rating of AA , second highest on its rating scale and the highest - scoring Healthcare Equipment company in the U.S. • Advancing sustainability across the Company , as detailed in Insulet's comprehensive 2020 Sustainability Report 5 . " We're off to a great start in 2021 with strong first quarter revenue results , " said Shacey Petrovic , President and Chief Executive Officer . " We are excited for the commercial launch of Omnipod 5 and the pivotal data we shared at ENDO 2021 clearly demonstrates the benefits and value it delivers to both children and adults . We are advancing each one of our strategic imperatives and the entire Insulet team remains steadfastly committed to our mission to simplify and improve the lives of people with diabetes across the globe . " 1 See description of non - GAAP financial measures contained in this release . 4 Diabetes Care - Multicenter Trial of a Tubeless , On - Body Automated Insulin Delivery System with Customizable Glycemic Targets in Pediatric and 2 Adult Participants with Type 1 Diabetes ; Sue A. Brown , Gregory P. Forlenza , Bruce W. Bode , Jordan E. Pinsker , Carol J. Levy , Amy B. Criego , David W. Hansen , Irl B. Hirsch , Anders L. Carlson , Richard M. Bergenstal , Jennifer L. Sherr , Sanjeev N. Mehta , Lori M. Laffel , Viral N. Shah , Anuj Bhargava , Ruth S. Weinstock , Sarah A. MacLeish , Daniel J. DeSalvo , Thomas C. Jones , Grazia Aleppo , Bruce A. Buckingham , Trang T. Ly . 3 Diabetes Research and Clinical Practice ( 2021 ) - Improved Glycemic Control in 3,592 Adults with Type 2 Diabetes Mellitus Initiating a Tubeless Insulin Management System ; A.L. Carlson , L.M. Huyett , J. Jantz , A. Chang , T. Vienneau , T.T. Ly ; https://doi.org/10.1016/j.diabres.2021.108735 . Diabetes Technology and Therapeutics - Declining Frequency of Acute Complications associated with Tubeless Insulin Pump Use : Data from 2,911 Patients in the German / Austrian DPV Registry ; Torben Biester , Anke Schwandt , Bettina Heidtmann , Birgit Rami - Merhar , Thomas Haak , Andreas Festa , Susanne Kostow , Antonia Müller , Kirsten Mönkemöller ;