Earnings Review and Free Research Report: Insulet Beat Analysts’ Earnings Estimates and its Own Guidance on Revenues
Research Desk Line-up: Microbot Medical Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 23, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Insulet Corp. (NASDAQ: PODD), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PODD, following the Company's release of its Q2 FY17 results on August 03, 2017. The Company reported 25.7% growth in revenues and also raised its fiscal 2017 revenue guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Medical Instruments & Supplies industry. Pro-TD has currently selected Microbot Medical Inc. (NASDAQ: MBOT) for due-diligence and potential coverage as the Company reported on August 14, 2017, its financial and operational results for Q2 2017 which ended on June 30, 2017, and also provided an update on progress towards key strategic initiatives. Register for a free membership today, and be among the early birds that get access to our report on Microbot Medical when we publish it.
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The second quarter of FY17 saw Insulet generate revenues of $109.76 million; rising 25.7% y-o-y compared with revenues of $87.33 million in Q2 FY16.
The Company's gross profit was $64.64 million in Q2 FY17 compared to $50.46 million in Q2 FY16; reflecting a growth of 28.1% y-o-y.
Insulet reported an operating loss of $3.36 million in the second quarter of FY17 compared to a loss of $1.29 million in the same quarter of the last fiscal year; expanding its losses by 160.5% y-o-y.
Net loss from continuing operations was $7.77 million for Q2 FY17 compared to $4.35 million in the same quarter of FY16. .
Insulet reported a net loss per share of $0.13 for the second quarter of the current fiscal year compared to a loss of $0.08 in the corresponding quarter of the last fiscal year.
The Company exceeded its own previous revenue guidance of $104 million to $108 million for the second quarter of 2017.
The Company matched Wall Street's EPS estimates of $0.13 for the second quarter of the current fiscal year.
In terms of Insulet's product categories, the US Omnipod segment generated revenues of $65.36 million in Q2 FY17 compared to $56.34 million in Q2 FY16; an increase of 16% y-o-y.
The Company's International Omnipod business clocked revenues of $26.58 million in Q2 FY17 versus $16.56 million in the corresponding quarter of the last fiscal year; a rise of 60.5% y-o-y. Drug Delivery business generated revenues of $17.82 million in Q2 FY17 compared to $14.43 million in Q2 FY16; an increase of 23.5% y-o-y.
Revenues based on the region of the customer's shipping location shows that business operations in the United States brought in revenues of $83.18 million in Q2 FY17 compared to $70.77 million in Q2 FY16; a growth of 70.5% y-o-y. Revenues generated from all other regions were $26.58 million in the second quarter of the current fiscal year compared to $16.56 million in the same quarter of the last fiscal year; registering a rise of 60.5% y-o-y.
Insulet used $3.87 million in cash in the first half of 2017 for operating activities compared to $6.84 million in H1 2016; a reduction of 43.4% y-o-y. The Company also used $64.27 million in investing activities in H1 2017 compared to $35.79 million in H1 2016; a rise of 79.6% y-o-y.
Insulet generated $4.19 million from financing activities in H1 2017 against expenditure of $4.59 million in H1 2016.
There was a net decrease in cash and cash equivalents of $63.69 million in the first half of 2017 compared to decrease of $47.01 million in the same period last year.
Cash and cash equivalents at the end of H1 2017 was at $73.49 million compared to $75.66 million at the end of the same period in 2016.
Insulet raised its revenue guidance for 2017 and expects it to be between $440 million to $450 million from an earlier guidance of $425 million to $440 million.
For the third quarter of the current fiscal, the Company projects revenue guidance in the range of $112 million to $116 million.
At the closing bell, on Tuesday, August 22, 2017, Insulet's stock rose 3.04%, ending the trading session at $57.48. A total volume of 666.78 thousand shares have exchanged hands, which was higher than the 3-month average volume of 397.16 thousand shares. The Company's stock price soared 36.76% in the last three months, 24.36% in the past six months, and 31.80% in the previous twelve months. Moreover, the stock skyrocketed 52.55% since the start of the year. The stock currently has a market cap of $3.32 billion.
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