Insulet Corporation (PODD) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 4, 2023 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks：

Operator

Good afternoon, ladies and gentlemen, and welcome to the Insulet Corporation First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Deborah Gordon, Vice President, Investor Relations.

Deborah Gordon

Thank you. Good afternoon and thank you for joining us for Insulet's first quarter 2023 earnings call. With me today are Jim Hollingshead, President and Chief Executive Officer; and Wayde McMillan, Executive Vice President and Chief Financial Officer. Bret Christensen, our Executive Vice President and Chief Commercial Officer, is also with us for the Q&A portion of our call.

Both the replay of this call and the press release discussing our 2023 first quarter results and guidance will be available on the Investor Relations section of our website. Also on our website is our first quarter supplemental earnings presentation. We encourage you to reference that document for a summary of key metrics and business updates.

Before we begin, we would like to inform you that certain statements made by Insulet during the course of this call may be forward-looking and could materially differ from current expectations. Please refer to the cautionary statements in our SEC filings for a detailed explanation of the inherent limitations of such statements.

We'll also discuss non-GAAP financial measures with respect to our performance, namely adjusted gross margin, adjusted operating margin, adjusted EBITDA and constant currency revenue, which is revenue growth, excluding the effect of foreign exchange. These measures align with what management uses as supplemental measures in assessing our operating performance, and we believe they are helpful to investors, analysts and other interested parties as measures of our operating performance from period to period.

Additionally, unless otherwise stated, all financial commentary regarding dollar and percentage changes will be on a year-over-year reported basis with the exception of revenue growth rates, which will be on a year-over-year constant currency basis.

With that, I'll turn the call over to Jim.

Jim Hollingshead

Thanks, Deb. Good afternoon, and thank you for joining us. We're off to a great start to 2023. We entered the year with a clear strategic focus and momentum in our business, and the Insulet team continues to execute and deliver on our ambitious expectations. We expect 2023 to be another year of strong growth and strategic progress.