Insulet Q1 revenue up 29% after $200M Acton move
Photo | Courtesy of Insulet
Insulet's headquarters in Acton
Fresh off its move to Central Massachusetts, Acton insulin pump manufacturer Insulet Corp. said Thursday its first quarter revenue rose 29%.
The company said its $159.6 million in revenue led to a net income of $4.4 million after recording a $6.5 million loss in last year’s first quarter.
Now, the company is raising its full-year revenue guidance to between $667 million to $690 million, reflecting an annual increase of 18-to-22% over 2018.
Investors saw the company’s growth potential the same way, as the company’s shares opened Friday up more than 11% on the NASDAQ.
The company said its main product, the Omnipod, grew 23% in the U.S. while international revenue for the product grew 48%.
The company’s first quarter highlights included the full U.S. release for its new touchscreen inclusion management system Omnipod DASH, the opening of its Acton headquarters, and the beginning of production on the company’s first highly-automated manufacturing line in the U.S. at the facility.
The $200-million facility was occupied in December, but the company officially opened the facility this week.
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