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Insulet Corporation Insulet Reports Second Quarter 2021 Revenue Increase of 16 % Year - Over - Year August 5 , 2021 ACTON , Mass .-- ( BUSINESS WIRE ) -- Aug . 5 , 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 June 30 , 2021 . Second Quarter Financial Highlights : • Second quarter 2021 revenue of $ 263.2 million , up 16.3 % , or 12.5 % in constant currency¹ , compared to $ 226.3 million in the prior year , within the guidance range of 10 % to 14 % on a constant currency basis o Total Omnipod revenue of $ 242.1 million , an increase of 19.9 % , or 15.6 % in constant currency ■ U.S. Omnipod revenue of $ 150.5 million , an increase of 16.8 % ■ International Omnipod revenue of $ 91.6 million , an increase of 25.1 % , or 13.4 % in constant currency o Drug Delivery revenue of $ 21.1 million , a decrease of 13.2 % • Gross margin of 69.4 % , up 640 basis points ● Operating income of $ 26.3 million , or 10.0 % of revenue , compared to $ 27.5 million , or 12.2 % of revenue , in the prior year • Net loss of $ 25.0 million , or $ ( 0.37 ) per diluted share ( includes a loss on extinguishment of debt of $ 40.1 million related to the Company's repurchase of convertible notes ) , compared to net income of $ 14.4 million , or $ 0.22 per diluted share , in the prior year Adjusted EBITDA¹ of $ 52.3 million , or 19.9 % of revenue , compared to $ 44.2 million , or 19.5 % of revenue , in the prior year Recent Strategic Highlights : • Presented data at the ATTD and ADA 2021 diabetes conferences demonstrating : o The Omnipod 5 Automated Insulin Delivery System significantly improved time in range and reduced HbA1c levels , while time in hypoglycemia remained low , in individuals ages 2 to 70 years with type 1 diabetes o Improved quality of life measures , strong product usability scores and increased satisfaction rates for those using Omnipod 5 o Significant reductions in HbA1c levels and total daily dose of insulin ( 18 % ) for people living with type 1 ( ~ 13,000 participants ) , while using either Omnipod DASH® or Omnipod ; this is in addition to the real - world data previously published demonstrating a 32 % reduction in total daily dose of insulin for people living with type 2 diabetes ( ~ 3,600 participants using Omnipod ) ● • Published Omnipod 5 pivotal data results in Diabetes Care² that demonstrated Omnipod 5 was safe and performed well in children and adults with type 1 diabetes during three months in free - living conditions • Achieved record second quarter U.S. and Total Omnipod new customer starts • Broadened direct - to - consumer advertising campaigns within the United States and Europe " We've reached the midpoint of the year and remain on track to deliver another year of double - digit revenue growth , including meaningful acceleration in the second half of the year . We continue to advance our strategic imperatives and have sustained momentum across our business , " said Shacey Petrovic , President and Chief Executive Officer . " The compelling clinical data we recently shared speaks to the power of our Omnipod product platform and its ability to deliver improved outcomes and quality of life for people of all ages . We are incredibly excited about the upcoming launch of Omnipod 5 and the tremendous value our new offering will provide people living with diabetes . " 1 See description of non - GAAP financial measures contained in this release . Diabetes Care - Multicenter Trial of a Tubeless , On - Body Automated Insulin Delivery System with Customizable Glycemic Targets in Pediatric and 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 2 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 . 2021 Outlook : Revenue Guidance ( in constant currency ) : • For the year ending December 31 , 2021 , the Company is reaffirming its revenue guidance range of 16 % to 20 % . Revenue growth ranges by product line are : o Total Omnipod of 18 % to 21 %