Insulet Preliminary Q2 Revenue Rises; Stock Up In Pre-Market

(RTTNews) - Insulet Corp. (PODD), a tubeless insulin pump technology with its Omnipod brand of products, on Friday registered a rise in preliminary revenue for the second-quarter to $488 million, from $397 million, recorded for the same period last year.

Total Omnipod revenue stood at $480 million, up 26 percent from the previous year.

Jim Hollingshead, CFO of Insulet, said: "Second quarter revenue exceeded our expectations across the board as a result of strong demand for Omnipod 5, resulting in robust revenue growth and sequential increases in new customer starts in both the U.S. and international markets,"

Further, the company expects to raise its full-year total Omnipod revenue growth outlook to a range of 18 percent to 21 percent from previous guidance of 15 percent to 19 percent, when it releases its financial results on August 8.

PODD was seen trading up by 5.83 percent at $202 in the pre-market trade on the Nasdaq.