Insulet (NASDAQ: PODD) reported Q3 EPS of $0.03, $0.03 better than the analyst estimate of $0.00. Revenue for the quarter came in at $151.1 million versus the consensus estimate of $149.36 million.

• Third quarter revenue of $151.1 million, up 24%, compared to revenue of $121.8 million in the prior year, and guidance of $144.5 to $151.5 million
  • U.S. Omnipod revenue of $82.0 million, an increase of 17%
  • International Omnipod revenue of $50.2 million, an increase of 55%
  • Drug Delivery revenue of $18.9 million, a decrease of 2%
• Gross margin of 67.5%, up 700 basis points
• Operating income of $6.9 million compared to $2.0 million in the prior year
• Net income of $1.7 million, or $0.03 per share, compared to a net loss of $2.2 million, or ($0.04) per share, in the prior year.

"Our team’s ongoing commitment to operational excellence and our expanding opportunities for growth are demonstrated in our strong third quarter performance," said Patrick Sullivan, Chairman and Chief Executive Officer. "We grew revenue 24%, achieved gross margin expansion of 700 basis points and generated both positive operating and net income for the first time in Insulet’s history. We gained traction through the quarter in our direct European operations, successfully launched the limited commercial release of our next-generation Omnipod DASH system and made great progress in both our market access initiatives and the build out of our U.S. manufacturing facility."

Shacey Petrovic, President and Chief Operating Officer, added, "We are very pleased with our results to date in 2018 and our team continues to drive the business forward. We remain on track to achieve both positive operating income in 2018 and our 2021 revenue and gross margin targets. Looking ahead, we are confident our innovation, commercial and operational initiatives are setting a strong foundation to deliver many more years of growth and value for Insulet shareholders."

GUIDANCE:

Insulet sees FY2018 revenue of $558-563 million, versus the consensus of $557.41 million.

For earnings history and earnings-related data on Insulet (PODD) click here.