MiniMed reported first-quarter fiscal 2027 net sales of $843 million, increasing 16.6% as reported and 15.8% organically.
International revenue reached $603 million, increasing 18.1% as reported and 16.9% organically, while U.S. revenue increased 13.1% to $240 million.
U.S. new pumps sold increased more than 20%, worldwide new pumps sold reached approximately 34,000, and MiniMed’s worldwide continuous glucose monitor attachment rate increased approximately 100 basis points sequentially to 69%.
The company reported approximately break-even GAAP net income, improving from a $19 million net loss attributable to the company in the year-earlier quarter. Operating income was approximately $5 million compared with a $13 million operating loss a year earlier.
MiniMed also advanced several product programs. MiniMed Fit was submitted to the FDA ahead of schedule, MiniMed Flex received CE Mark, enrollment was completed in the U.S. pivotal trial for the Vivera fully closed-loop algorithm, and the next-generation extended-wear MiniMed sensor received IDE approval.
The company raised fiscal 2027 organic revenue growth guidance to approximately 10.5% from approximately 10% and reaffirmed its expectation for an adjusted EBITDA margin of approximately 16%.
KEY QUOTE:
“MiniMed delivered an excellent start to our fiscal year, with accelerating U.S. growth, continued double-digit international growth, and strong execution across our innovation pipeline. The U.S. launch of MiniMed Flex™ is doing exactly what we designed it to do: bringing new patients into the MiniMed ecosystem, driving competitive conversions, and generating significant new account growth. As our ecosystem continues to come together, we are well positioned to accelerate growth, strengthen our leadership in automated insulin delivery, and create long-term shareholder value.”
Que Dallara, Chief Executive Officer of MiniMed
