Insulet Corporation (NASDAQ:PODD) Q1 2024 Earnings Call Transcript

And never say never. We’re very mindful of competition. We have a lot of respect for our competitors. But it’s taken us several years to build out the scale and scope we have in pharmacy channel. And as we referred to in our prepared remarks, Omnipod 5 is available in retail pharmacy within five miles of 85% of the U.S. population. That is going to be very, very difficult for any of our durable pump competitors to replicate. And the overall model of Omnipod 5 with its very easy access, ease-of-use, ease of setup, get in a box at the pharmacy where you get your insulin, that model just fits very, very well. And I think the durable pump model does not fit the channel well.

Operator: Great. Well, thank you all so much for your questions. This does conclude our Q&A section. And I would like to turn the conference back to Jim Hollingshead.

End of Q&A:

Jim Hollingshead: Thanks, operator. In closing, we’re off to a great start in 2024. We’re transforming diabetes care globally with Omnipod 5, which now also includes our limited commercial launches with G7 in the U.S. and with G6 and Libre 2 Plus internationally. We’ve got a very strong market leadership position, the right product portfolio to address the needs of both the type 1 and the type 2 global markets, and a clear and focused strategy to drive continued growth, leveraging our significant competitive advantages. Looking ahead, the balance of the year is going to include a number of important milestones for us as we’ve been through on the call. We expect all of those milestones to help us drive new customer starts and margin expansion in the second half of this year and lay the foundation for significant long-term growth.

All of that while continuing to deliver on our mission to simplify the lives of people with diabetes all over the world. I just want to thank the entire global Insulet team for your dedication and passion for our customers and for our mission. You’re doing a great job, global Insulet team. Thank you very much. Thanks everybody for joining us today, and we look forward to updating you next quarter.

Operator: Ladies and gentlemen, this concludes today’s conference. Thank you for your participation and have a wonderful day. You may now disconnect.