Aug 5 (Reuters) – Insulet lowered its annual sales growth forecast on Wednesday, pointing to a softer second half of 2026 particularly for U.S. sales of its Omnipod insulin pumps, sending shares of the company down more than 12% before the bell.
• The medical-device maker now expects 2026 revenue to grow 20% to 22%, compared with its previous forecast of 21% to 23%.
• Insulet cut its U.S. Omnipod sales growth forecast to between 17% and 19% from 20% to 22%, while raising its international forecast to between 30% and 32% from 26% to 28%.
• “While we are updating our outlook to reflect what we’re learning as we scale in type 2 (diabetes), our conviction in the long-term opportunity remains unchanged,” CEO Ashley McEvoy said.
• Omnipod is a wearable insulin pump that delivers insulin without tubes and reduces the need for daily injections. Sales have grown since Omnipod 5 gained U.S. approval for people with both type 1 and type 2 diabetes.
• “Investors have been worried about a steep fall off in growth from patch pump competition next year, but we’re starting to see it today already,” said J.P. Morgan analyst Robbie Marcus.
• “With decelerating trends in 2H, and assuming this wasn’t a record new patient quarter again, this will stoke investor fears that US growth could fall out near 10% or even lower in 2027,” Marcus added.
• Quarterly Omnipod sales rose 24.6% to $795.9 million, with U.S. sales increasing 20.1% to $544.1 million.
• Insulet posted second-quarter adjusted profit of $1.66 per share, above analysts’ estimate of $1.45, according to data compiled by LSEG. Quarterly revenue rose 23.5% to $801.7 million, beating estimates of $787.2 million.
• The company raised its annual adjusted profit growth forecast to more than 30% from more than 25%.
(Reporting by Kunal Das in Bengaluru; Editing by Devika Syamnath)
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