PODD - Earnings call transcript Q1 2020

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Insulet Corporation's First Quarter 2020 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 of Investor Relations.

Deborah Gordon

afternoon, good and you, everyone. Thank for And Quarter for First us Earnings thank Call. you XXXX Insulet's joining

Joining Shacey Chief Wayde McMillan, me Officer Executive Executive are Vice Petrovic, president President and Financial Chief Officer. and and

the quarter our this in call the also quarter archived website our The replay website. year press and XXXX will discussing second of release results available of full on IR be our section and and XXXX is first guidance

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

We effect non-GAAP discuss namely growth EBITDA and to measures is foreign currency respect of excluding exchange. adjusted with revenue will also which revenue, constant the our performance, financial

We supplemental from align have we they transitioned to investors, performance management are measure performance interested as of helpful operating in analysts believe a our measures uses comparative our and that parties to they operating what with other assessing and period-to-period. these measures as as

regarding dollar on Also, unless stated, revenue basis. percentage be currency all financial year-over-year on changes will will otherwise be basis rates and commentary a growth all and a constant

over Shacey. the to with that, I'll call turn And

Shacey Petrovic

last few grappled COVID-XX. the posed of afternoon, and around with joining have everyone, today. thank months Good impact Deb. The challenges for the Thanks, we've and for you extraordinary as world communities countries us

out affected to on been health and the goes front-lines. out the gratitude first Our to professionals hearts go whose our responders has those many medical and

are and you that today's on staying hope all joining us also We safe healthy. of call

been to of Insulet have a improving the Podders top and navigate these people and safety lives priorities well-being circumstances. diabetes, difficult we we employees the our serve, and our as the company of communities with committed As

the health for in work issued transitioned WHO, and March, with guidance we the remote vast by authorities. line employees, majority governments In arrangements to of local CDC,

critical performing frequent safety employees cleaning and include monitoring. enhanced those functions, protocols, facilities of PPE temperature social our on-site significantly deep we to For procedures distancing,

seamless ensure customers. I this of on-site proud face of to I am employees our provide of work gratitude team, and to to global behalf been leadership resilience of to our express essentially pleased report who to like on are teams’ I'd we our transition Omnipod and challenge. am supply incredibly can in has that our compassion uninterrupted sincere to the this the continuing

like their While working balancing lost friends from other and focus our for demands our employees caring home, keeping never healthy, children mission. many dedicated on families have and

want Our team one such Insulet globe. thank what each and employees every company across to our the us a great is makes I of and

ability supply many build our without and our thank without to excess supporting for like interruption also can our serve to redundancy capacity I'd delay. to customers partners chain ensure and we

driven business Notwithstanding we the in by environment of $XXX increase, XX% market a representing our to and U.S. diabetes million, product affect quarter began growth difficult total almost revenue in international line. March, achieved that February our revenue in XX% first external

sheet, inventory ended This revenue into business on plans operations robust recurring to a and XXXX the performance healthy our our to execution the testament were a manufacturing We is of levels, well strong positioned and strength capitalize global position of crisis prospects. model. a with strength both growth our coming having in balance

on results maintaining made on In delivered the and XXXX with all-time continued and expectations. our We execution quarter, quickly exceeding and highs we’ve responded we of imperatives. we strategic near first the started face financial our revenue progress new Omnipod effectively, global focus in our obstacles,

guidance, we COVID previously of consideration have range we although, careful to planning, a expect the to provided. low-end at of our scenario we and annual the after impacts predict, in come maintain are difficult the decided While to

vast generate our unique revenue differentiator, we key customer from majority of since our a model business base. is Our the large existing

Therefore, and XXXX that insulation. us of provide at is even will XXXX believe in the QX current challenging, This the rate gives while in our momentum [Indiscernible] we environment the face mid-teens XXXX. this revenue confidence unusually

detail. Wayde XXXX. will can provide billion next market year, early our more goal believe But dynamics assuming also for $X maintain we normalize we revenue

growth to over relative in our near-term in that will diabetes. the with continue Importantly, lives coming imperatives These of over to us significant to will Insulet years, strategic ensure the investments invest improve that people the the allows strength longer-term. makes strides our drive

technology We will consumer-friendly most simplest, the to market. bring

Our ensure model investment the broadest innovation ensure manufacturing globe world-class margins. in operational across industry-leading resiliency, users chain will of population will excellence and our the business cost-effective supply to capabilities, gross access and

is global the deliver best be realize ensure consumer-focused year, progress. three, two, significant across expand four, This work continue innovation; One, initiatives done excellence our There and much focused vision we the our in driving customer on XXXX, global operational to organization. key four footprint; to make to forward. and will experience; are drive we

growing teams job execution team sales despite working Webex their do meet not finding are we teams, timelines. and of face of supply adjusting in a couple than remotely, a creative we demand an more ways expect missing remarkable the our quarters Engineers are on challenges has manufacturing are quickly in the Our done and of newly impact our virtual calls and a of customer beat. our COVID-XX ensuring without via to happening innovate

progress walk now these a each delivering initiatives, our I'll through on starting innovation. with of QX key consumer-focused

pharmacy unique number users, model its continued we the through the intuitive platform both our of simplicity DASH channel. pay-as-you-go to Omnipod and of During business the by driven the first grow quarter,

more complexity accessible to cost. is a has making Omnipod it eliminating a no we Omnipod particularly because are and range customers. economy down restrictions, of broader By in differentiated, upfront

customers increase high DASH coverage DASH, through insulation to through also grow of continued for model. is which creating accessing first our a Insulet, Omnipod quarter, durable to recurring pharmacy. annuity of the Omnipod helped This we helpful degree the number this In revenue

the Medicaid seen and for of in over beneficiaries. of United coverage XX% DASH, had notable for of we've tick-up we commercially end As secured XX% over XX% of DASH covered of the lives. commercial with insured now approximately And for in QX, Omnipod States coverage Medicare a

of U.S. channel. In approximately starts Type DASH new the Omnipod pharmacy quarter, X, our one-third the were first primarily Omnipod through

As growth this new another and U.S. record strong starts a QX. market result of represented access, our expanding Omnipod

DASH of we customers With online to our get Omnipod last DASH, year's the from without to This via online transitioning enables program need Omnipod. training launch for started users created training a is to being has today, for of support users. success it used and home clinician a meet Thanks simplicity. thousands to with support. extensively DASH's web-based training leave or been This

which in many And have in started. provides were helpful transitioning Omnipod DASH business be intuitive environment. users created to step-by-step support effective to fact, the instructions and proven These exceptionally to on scaling get our to from our tools user rely of interface, current just

response across new service and are therapy. and new us In team to from virtual program that training clinician. the our that worked our users training still to capabilities even built and onboard virtual customers, support our to we successfully global pump brand-new want business addition, in those to existing customers to support allowed have have expand for pandemic, include quickly to enhance a The

trainers. in XX% we virtual new have training and these over about clinical users new fact, which on-boarded several users business, were our about via weeks our last pod direct approximately Insulet with And markets, MDI to the of therapy. X,XXX In pump of represent half

our seen training also great programs. have implement We intermediaries distributors and virtual

and was Last via week, a remarkable trainings I experience. Webex personally observed it one of these

They Podder, a Colton walked Omnipod X-year-old DASH. through Manager Training pod daily Clinical and Our multiple his and transitioning injections. the were from setup activation of parents

was effective, food clear training Colton's to faces it it their they the was The temp and of they absolutely learned very pod. when wonderful and his in experienced on when was reminder just see and mom's and accessible delight about first Omnipod It the was simple DASH's basal own capabilities, comfort of home their receiving is. and library a how family clearly on ease putting thorough, at and the

great customer made a have in We strides experience. best-in-class delivering

to support and rapid to the We it and Omnipod work experience. try for had order this it from best our of our access a goal are making much deliver underway in pharmacy. customer convenient global to constantly users We growth easier

Telemedicine, access experiences. to continue will appealing, scalable the deliver and tools customer pharmacy training convenience of virtual

While Omnipod starts start the new slowdown encouraged momentum doctor This globally. the visits by and have in seen headwinds remain strongest of of as in new we a Omnipod many due COVID-XX face second March, we DASH, non the intensified we emergency expect to quarter. to delayed people

this impact. precisely to our is customers the We will predict long with obviously their telehealth timing or which know be physicians meeting challenged COVID impact difficult It much and offset our how business. will to capabilities how our don't extent will

recovery Our recessionary third interactions will followed a normalize. guidance by starting begin assumes the patient reopen the throughout and to quarter, economies pandemic's begin as persist in to and headwinds XXXX, physician gradual

are market We to normal dynamics starting presently XXXX. assuming in return

addition supply In of to found back give to our our employees our and the communities. of ensuring our ways to continuity safety to team has Podders,

We healthcare programs gifted have participated our in facilities remote equipment support to and local in schooling donation PPE to communities. computer needs

we to And if impact lose on economic of coverage. Omnipod who ensure to product the our in financial that significant can particularly have they I those proud program remain COVID-XX, assistance insurance on response am rely broadened

COVID-XX U.S. help affordability who address This Omnipod or for healthcare coverage lose program covered to to designed and are is not a robust the Medicare by Medicaid. unique due users, challenges

of cost these end For up to users, six of at will through zero pods the we provide XXXX. months

that the quarter, smartphone-controlled game first by product, delivery first system the we develop insulin confident living our people work tubeless, highly powered for Omnipod a Horizon, to be will continued our Omnipod personal, next-generation diabetes. with changer Horizon. remain automated We Throughout

of that has to the sent I review. Horizon for to software trial have update am order March been pleased to software anomaly. we the the know, and As at paused FDA we report you beginning in address successfully a the completed

the tracking and logistics trial newly sites, anticipated the are our of XXXX. at agency now review half required to in U.S. Given times Omnipod bring market Horizon to first we

and the and benefit virtually all trial. the our enthusiastic continue of are sites participants all support from fortunate expect trial that in We will patients to and sites

timelines. ensure our and said, quickly, helpful. and to and to support presents continue proposing few and updated trial reacted to interactions this some has protocols our and a add agency monitor the we to support That collaborative team to FDA be The the COVID-XX follow-up months virtual with the will challenges likely how

our eagerly awaiting forward simple, automated Horizon. trial and look are the provided Omnipod by to delivery participants of insulin benefits we We resuming know the study

our to progress with the has Abbott and addition In with collaborations continued our Dexcom, team to advance Horizon, Tidepool. Omnipod

will burden diabetes. insulin-dependent with and Over will new that partnerships deliver the coming products people improved bring exciting living to for years, these reduced market outcomes

DASH Omnipod with with platforms continued our underway including new development DASH upgrade we for further to also our capabilities. and to customers. integration to languages value additional advance cloud-to-cloud Omnipod ease to This work various more globally deliver platform and remote capabilities, build-out mobile We on will such even we year, secure expand existing And iOS. bring is Horizon as Glooko, extensions of use phone telemedicine enabling will through

global our expansion. to turning Now,

of made result existing the operations markets. strengthened our Europe, many underserved our large in a we presence our As progress have we on capitalizing of direct in

three We in markets had to a in DASH Europe roll out entered markets. into XXXX planned and of five the and new limited Canada further Omnipod and to at end enter of DASH commercial release international European

in new as geographies uncertainty to terms market regulatory we've has partners, training in presents and in well well market We of and teams it. been readiness, however, COVID-XX, DASH into our which received clearances. expand of eager launched as and markets some the are preparedness and

dynamics expansions. DASH ensure as exciting as to successful to work launches markets into multiyear DASH XXXX, and are the view for believe expansion market global we and These an Insulet. expansion driver for early efforts our We impacts delay temporary are we these growth and market prepared continue

our to U.S. manufacturing chain. our excellence. as We supplement our entire in Lastly, efforts ago, global manufacturing as steps operational redundancy focused address create supply I China, Several to on years our supply redundancy taking ongoing drive global global with capabilities we will innovation well throughout began to our chain. capacity strengthen building and

proud to planned in safety continuity and face very production then done and are The producing of as incredible our in we levels, our was employees. COVID-XX, of of to importance has of China, we this am maintain work the while above worked the well-being United effort the product ensure ensuring global highlighted States. first team the in I

uninterrupted are access sure We on making continued laser-focused receive customers our Omnipod. to

incredible strengthen to the this rather would and manufacturing our other supply we is further improve rising with operations and through better driving This emerge pandemic to on I challenge Insulet see will at and Insulet, is capabilities telemedicine rely it. stronger us for and the other of challenge chain. team but systems, enhance to our there it Already us lifetimes, and is side. is no work to

executing creating the on continue mission most improve focused strategy remain even in And to the We shareholders. to people remain our of on lives difficult diabetes focused our value times. of for living we with

the turn over Wayde. call now I'll to

Wayde McMillan

Thank ongoing has mode to These and are all we thank wishes challenging say, adaptability, the well you, of as Insulet to incredible shown I'd also by deal team, the like a Shacey. impacted all have we you times crisis, global And to COVID-XX. who those health with as new adjusted of operating. to

by to certainly the created headwinds are immune not pandemic. We the

base. any customer given a with as durable coming annuity vast to of model our in revenue from majority However, Shacey fortunate existing generated quarter we the stated, have are

but change sustainable positioned the global growth significant market environment we have disrupted, we not the does for long-term. opportunity over current remain and is well The it

We are our for to of the creating confident shareholders continue people while our our lives to mission in ability improve value with significant diabetes. advancing

off We we another QX. in growth. continue execution for and to of is strategic paying strong and achieved quarter of The operating performance our imperatives invest financial

reminder, on discuss rates this call a on constant are the will I revenue currency basis. As a growth

growth grew of quarter guidance global XX.X%, first above XX% our This quarterly growth million above $XX.X range. delivered the approximately was and In million diabetes XXXX, our strong range. revenue we which guidance business, our by was driven of $X

adjusting a constraints global results by caused to job commercial operations were COVID-XX. to We these the able our did quickly tremendous achieve teams as and

operations manufacturing in regional put early were later our of lockdowns in challenges more we China in to ramping and as implemented learned back March January The measures place quarter, commercial the in telehealth team activity. up as switch acted the facility quickly to team

with customers a keen contribution producing a without our are been focus from above able on volume U.S. the keeping ensuring delivering all and we product employees and result, levels to manufacturing deliver plant, customers. products to new we've well-being our of As to safety interruption historic while and our

Omnipod quarter U.S. in five we grew million line, revenue highest guidance our $X.X and product have in range rate the By over achieved XX.X%, above years. represented growth our first

on pharmacy adoption and channel, be DASH. Omnipod customer increasing a to of of drivers primarily benefit growing premium Our along DASH, continue the base outperformance, the Omnipod with the through mix main for

the easing an our estimated given the QX an seasonal also million quarter, end-customer In pharmacy benefited the resets we to and impact stocking experienced of $X from of we of deductible COVID-XX. shift to due

DASH last a start of As reminder, the of quarter at we began second generating revenue year. for the

So our half move rate DASH Omnipod our and benefit will the first growth from pharmacy. annualizing the of XXXX into year first full

of channel XX% and the starts XX% we growth Omnipod our U.S. quarter, In grew to almost U.S. of through DASH volume drove over new Omnipod the pharmacy first our volume total. of

the $X guidance an late revenue Omnipod to quarter. stocking $X estimated our from of International grew million COVID-XX also XX.X%, in due channel orders above range. benefited million International

XX% you declined expect due see below in line the quarter. the product shift will greater-than-normal growth This timing from which a to reflected of and revenue revenue was was in range. production, this Drug second we Delivery is our guidance in

are pleased revenue with to Overall, and our first in we the in the in despite new slowdown customers beginning March. strong quarter to Omnipod growth see year, a start

well XXX a the from margin, sequentially, a point XX.X% unfavorable in basis as costs, from year-over-year gross we points COVID-XX-related and basis basis to including flat Turning impact unfavorable quarter, impact down delivered XXX XX point FX. as

margin production with manufacturing manufacturing continued at of early facility, in ramping new our second the gross impacting line Also our production starting impact was U.S. March.

global this margin situation chain difficult manufacturing well last the implemented through gross supply were given several over complete operations. strategies supply and redundancy chain improvements for were our the the prepared our offsetting We years. Partially headwinds continued

products XXXX safety we incremental The demand critically employees are is of time. to the of costs and we this incurring important our the maintain to of produce ensure quality ahead and during

line our as means headwind U.S. communicated, to gross and will we We second a product are on sellable incur be pleased manufacturing we've previously ramp. as producing we to margin it

ramp assuming expansion shift manufacturing a of are Once landed cost our mitigation With goods our lower focus safety fully operational, we manufacturing facility gross efforts, over long-term. the slower and in the now drive and margin of recent U.S. COVID-XX to will lines.

XX% and XX% Operating compared year, were revenue, quarter expectations expenses the with we XX.X%. the ended in to in adjusted prior quarter of first our with in line the EBITDA of

and million expense. end $XXX low cash year. with very Regarding the of and our cash the are the we of liquidity debt first at favorable had million cash the earliest compared status, at a $XXX in we maturing until end interest position in At to investments, XXXX and last cash quarter, no

sequential This manufacturing expenditures for growth, supply U.S. in cash primarily including order operations. driven planned our use of to for decrease invest by was chain our capital and

favorable of and result As no recent of debt, convertible we no our debt have covenants. with maturities a refinancing the profile a near-term restrictive

cash have we grow our to need business. financing the profitably structure summary, and In we position favorable

Turning to XXXX our guidance.

it We the an pandemic with and COVID-XX dynamic the is uncertainties time in creating. unprecedented are

in as our stated, low As revenue Shacey original the total end we communicated release, our are our maintaining company range. earnings guidance at of and we

customer resulting We the durability length predict or benefit our revenue have Omnipod majority of and our extent approximately base. is of of which model, XX% new existing the the the progression difficult any from given contributed of within provides of the starts of COVID-XX to quarter accurately disruption. recurring depth revenue. our of the Historically, It revenue vast the

and with underlying metrics the business time. we them you provide assumptions track for key to as want we our this However, during

either the too multiple to have assumptions, we set our prepared manage based well the environment. high what are we through experienced low, macro scenarios. on or through base too are what and have about we understand April We a developed If assumptions of

will quarter second significant the the global of half the be are globe economies Omnipod new to in around assuming reopen. throughout that starts with year, second noted, As the on we gradual recovery impact assuming the most begin

As in new the assumed QX reduction we and an second half expect the the a a result mostly second to Omnipod starts compounding in revenue headwind half in impact effect growth on of year. of the a continued year, of

compared quarter. the XX% second As assuming the approximately Omnipod our the reductions in XX% and the expectations of in approximately now in to the at XX% quarterly of XX% fourth global are to quarter, our new in year, approximately we starts start quarter third previous

on recessionary We are pressure for utilization to headwinds. an expected in some account downward attrition also assuming uptick and

no-charge and becomes model are pharmacy, the we we positioned the our in feel market – the pay-as-you-go cost-sensitive. PDMs Given well if in more

This therapy allows of pod diabetes the large a four for patients their without cost to period. management year or the lock-in adopt upfront challenge

established leading are frequently monitoring adjust challenging set also different in and time. have as We a they out indicators data this of to scenarios more our to play

For By approximately now expect Omnipod total expect our our XXXX the have XX% guide. which growth, prior the of guidance, at revenue provided. of product-line, we've low we growth now total revenue end XX%, approximately low We the guidance. adjusted slightly at range previously we company end is of

For for our prior and of we U.S. XX%, Omnipod, international our prior approximately low of XX%, guidance. guidance of the revenue revenue end which approximately growth is Omnipod, below expect near we growth expect

in previously Lastly, of we to to expect Drug on a provided current XX% our Delivery, range decline forecasts. partners' the the XX% based for of we middle land

to of costs forecasted an $XX XX%. to compared XX%, efforts. Now safety COVID-XX well and full expectation million our now to related we to in of as COVID-XX, year the reduction in rest year the for factors lower margin, This full $X be revenue million on to forecast mitigation related of the to our basis, volumes estimated one-time turning expect approximately gross and additional due approximately P&L a prior as

extent, our as U.S. shift the enhanced has a chain of related into our well factored our continuity. new team gross margin as the cost to operations is as program. risks by the in estimate manufacturing been pandemic the for assumed in focus assistance financial mitigate to And, slower lines, impacted ramp a timing Also lesser to safety, supply

and prior strategy deployment to be long-term we and consistent and capital expect with year. expenditures financial XXXX to remain plan capital continue Our unchanged

global We our to manufacturing. innovation invest will our commercial in U.S. initiatives in invest pipeline, continue and expand

reaffirming of the the are we Lastly, as low range. percentage mid-teens, EBITDA adjusted our to in the end revenue of expectation now a of closer

in stated target Shacey track as we base XXXX, see billion. for stabilize $X of conditions our if earlier, on XXXX to For and XXXX, we market revenue remain hold deliver will assumptions our

still as the XX% pandemic For result our to manufacturing gross pathway expect volume target. a We impact of U.S. original a our ramp, and margin a range XXXX see target, we to XX% of now to XX%.

However, that many out. are scenarios can there play

time. over it's no our So confidence XX% prudent way does that range time. to a we margin at wider provide will In it achieve this change feel gross we

of range. our Finally, expectation of income closer a XXXX the the of percentage we operating the as mid-teens, in reaffirming are now revenue to low-end

performance In growth lives started to our the believe our on with remain sustain the to with around strategic globe. the positioned and in fundamentals with over Insulet imperatives mission assumptions, summary, we improve year our long-term. the resilient we is of We base business QX in people focused in diabetes and higher-than-expected delivering on well XXXX and

In go at closing, prayers this thoughts impacted and everyone to time. out our

are proud they how this of have remain our challenging We situation our that responded mission. on and employees focused to Insulet

Q&A. turn that, the the we'll to operator over With for call

Operator

from Marcus Instructions] Robbie question Thank is our you. of JPMorgan. And first [Operator

open. line is Your

Robert Marcus

to the tough which other access use a pretty here. plus pumps economic than during being question. bodes competitive endocrinologists, consistently checks easier quarter. that, remotely, hear the – is to well time cost lower, next We've taking congrats pumps months a for with but than Thanks Omnipod the Great. stands little really And in out on nice remotely should cost what to are as the train or train a harder few CGM, to longer and we our significantly be

a terms to versus where them? a about from but up how versus going MDI. you come lot before have are I Thanks. both pump, competitors, your patient pay of know So positioning in are most of your benefits new competitive thinking you thinking you might But your forward, – also to how patients starts here basically

Shacey Petrovic

you right. are Robbie. I think Thanks, Yes,

there really Your what therapy are delivery – we see, which all are is we that insulin things that make a supports of appealing sorts Omnipod data for patients.

in those of more things are like some in. environment And we an one the powerful are even

you about you in towards think and Omnipod cost-conscious don't to platform. things fact move in this obviously, appealing. even are is have than the are of economic the simplicity I challenging you four think the pay locked to years consumer more of for probably not When therapy, But environment, really more that a upfront the those powerful that very

just really from bring what in ways, whole goal telehealth technology environment, be market need perfectly And able to in it's to some multiple telehealth plays about new simple. transition to into to to our daily strategy, is if technology, injections most got people because think simplest, you a and consumer-friendly you our the a to be

simple users that for needles and sets. if no components, simple you developed one enough technology think multiple for we've a kids, infusion no daily handle, And that it, injection really, to has enough is about two

in environment train to technology differentiator And I simple we going to more today. are the very that think powerful is a just that on. become it's So in

capabilities during technology really this on our good people to we've and need really to So, and period lean the time this feel we time bring that in by I built to trend really it. and excited be am able expanded personally of short in about who more a

Robert Marcus

stands of Insulet out a as just follow-up, quick China exposure. having a manufacturing lot Maybe as Great.

job is on great on is new up. one two bit its is I way line done and built. a being manufacturing this have ramping touched with prepared Line the in up You and believe, the facility. line a remarks three you

when U.S. should longer? think how have this manufacturing the lasts for you'll But much we much on more U.S. versus the dependence about in outside case

Wayde McMillan

several And they can the team a years here significant that made Wayde. as Hi, saw the obviously strategy laid out Robbie, take multi-year when and it's it well. you've this seen one. know ago I risk I investment.

inventory outperforming overachieving we've and a And actually running to us team and our of ahead this allowing lines time that current the two of scenarios. that's producing this up build and so demand giving lot tailwinds stay demand base point, being your and got able now to during that's that's here and through challenge to or to

mean, in the Regarding strong I really got a China, in partner risk we've China.

I and typical took and by quickly into the train recruit, they challenge It was we people get facility year-end delayed from on move think are able safely to impressed start. clearly our how onboard, are a we production staff, up. the very and

how teams the environment, both fund and here place operations quickly together. help of our I work the to But, team costs. third-party given by put the some We've some impressed we highlighted in were incentives the was again that the our into third-party work they get extent manufacturer the for the Year. get producing some to to some facility of after of going New were employees us and doing

three manufacturing the I and of our have redundancy keeping main running manufacturing we're U.S. was going for from China we and U.S. to here drivers multi-facility facility going in facilities. So, us lines see strategy to one have our a think four forward. And the get and we'll redundancy once

objective third our we'll then our fourth So line. we and line once get onto up that achieve eventually

please? question, Next

Operator

Yes.

Our Stanley. next of Morgan Lewis David of question from coming the line

open. is line Your

David Lewis

me. new into May. certain I in quarter. the for across telemedicine to Good detail on just U.S. great geographies beginning open are regions up afternoon. A up, impact wonder, here the start the it appreciate growing that given to ones couple Wayde, are beginning leads April of seeing all as certain patient this to are open in impacts and quick I we

slightly sort quantification us you April or it is May? ahead that’s slightly sort seeing across of that into you quarters, as gave up That Or are the recovery qualitative behind? of sinking the

Wayde McMillan

the our bit improvement year. Dave. opportunity the context a matching gradual the afternoon, we thanks environment up, with little tied to more the of global on different this Yes, so one assumptions we and regions to good countries with it. of give because – for are get this an So, bringing starting our Starting the with assumptions hoping through That's we'd base end and to what opening macro up. economy why we are see in and that

But to meet And open rest it the and of and with clearly, year. our we'll of get to ahead their and that through assumptions. quicker the these through of that the disease they happens get that those this assuming can need therapies headwinds year. their see point, We'll headwinds be If the sooner. physicians are at to we're customers treat expecting we regions the continue patients end

to second April? because by the of impacted opportunity seen patient or people new the contrast of that really it I'll compare and what much QX how to the our impact does we've question, model, to shows an part in to help And impact durability of really use just our the this as starts. your that is model explain to not

in As approximately is starts. I of patient new to the remarks, XX% prepared any quarter due mentioned

second really strong And far And from into and is, well because we've strong continuing April benefiting XXXX we're into QX. seen that what so momentum QX. so, we're half to performance from of revenue coming benefiting perform the in

new starts. stages. behind in two sales that we track leads actual But are sales a main two stages, seeing our slowdown see patient We our and starts. cycle that, we in in patient And then really new

leads starts, acute saw that's tracking even where sales a of new So front drop-off patient in and we we are pretty in our March.

the that's funnel going seeing we where impact that into to starts so most the so, and to And QX and impact May are June coming for as that's get part. smaller,

through new starts, patient to anticipating here through slow are start our strong down and June. although will April, we So May

are given return therapy, the to we pod then, different to both their we'll And strategies are year. telehealth, through And their improve positioned. the to as assuming highlighted, therapy, then, end the very well work on people for endocrinologists it's we feel of Shacey gradually and expectation that improve we including our ability

we pandemic training have working people face that's more of teams are we thousands Our already efforts as doing, and telehealth every in those growing this said, on day. Shacey the initiatives, and redoubled were now were we But and virtually.

David Lewis

job. in different two ex how the you the recovery? the service sites of those is would the characterize U.S. U.S. so this helpful. just Thanks to then given for geographies. sense relative also Okay. And super which heavier of That's little forecasting Wayde. you, the U.S., impacts, U.S. quick to your is in Thanks. one a Shacey, than healthcare recovery ex or much and how But maybe, kind makes one into recovery. tied delivered visibility great But

Shacey Petrovic

are is living hospital trained there, as ex way the Thanks, diabetes clinic people the obviously, new many setting, Yes, just that on Omnipod care setting. delivered to like David. with on you right, technologies opposed more get the in U.S.,

for U.S. so, just virtual in towards headwinds markets take trainings going of That return and a more do we significant. international some normalcy market, and telehealth little it'll we little bit do like in every And we those the bit to a are do going anticipate territory. longer said, on every on activities have

the what we dealing And that's so, U.S. in with the of I nature think just are

have in U.S. true benefit give a we our helps direct extrapolate customers visibility, we Europe, the into is we to patients although In thing terms additional direct and into our across same visibility us insights markets. the of markets. of easily The as I in the from aren't – can that what think sense extrapolated

insights team European and So is. can work that's the we to we challenge this those be the with during we that the we how as can so have, to leading those partners manage fragmented day with as business just get our tracking effectively time. is our indicators, said, But as Wayde and market every obviously

Next question?

Operator

And our line with coming next Citi. question Joanne from of Wuensch the

Joanne Wuensch

Good afternoon everybody you for taking question. the and thank

my now. trying patient things do around to the or the back? how adds get One I come And that that back? patient the come aren't happening is do they am of When new head right they

Shacey Petrovic

Yes.

we and the insight. where question, have to our down of visits really March. a the difficult our since are it's obviously beginning the think that, It's endocrinologist U.S., United States, I predict is because XX% mainly best demonstrates What to speak data the in But future. good I'll data shows what that's the Joanne. is,

delivered are being happening, remaining telemedicine. XX% still of of that via are that those XX% And

more What a is we of pretty more the United adoption significant just a and see So drop-off. across States. telemedicine

So our questions is, help I some it. it's ways obviously is on reimbursement. think dependent of And that'll I how durable in telemedicine, think because offset one

these were state-by-state indications areas those can track as that various across hit track continue harder markets do so forecast. we we markets than continue to starts are to some we to they and said, that to But that that's new of Wayde patient starting of see see what And so leads recuperate? and our in we'll in others,

Joanne Wuensch

do on recognizing for your How happening it question view has do will questions. you my taking international slower the not? you to be changed market, Thank the you. new be about And Thank up much with geographies. approaching what then to maybe markets does next open globally And what's second may very think or them?

Shacey Petrovic

we for Thanks, Joanne. launches. to just planned I these have don't we differently – feel about that is for had us think this what's markets Really, sure what impact today we of makes to make all successful markets prepared are the new enter. planning that

be, various in a there. might distributor partnering with partner so, And markets, for strong we example

seeking that stuff launch market of into be approvals regulatory we sure make or even to market. and the is before want in may we place We clearances all that

thinking making are so we're really successful we about that's early everything prepared potentially it's timelines – to when XXXX that of sure can and XXXX, different instead so have have And we launches. where we tied really that

of a say. we are different that tremendous territories at as thinking Not point. opportunity, is always about amount this There I

of in We build world, even handful of is need. the and really unmet presence tremendous to rest There that's starting the are strong to of we where still Europe amount a a relative really there. are a in countries true

bit are we be to So to unmet these going need. a of than expected that attack later because little It's we just dynamics. going

Operator

question with Kaczor next And line from our the Margaret Blair. of William coming

open. Your line is

Malgorzata Kaczor

Thanks Hey, good afternoon guys. for the taking questions.

XX% But follow-up patients I virtually. of for I virtual were with to you get online that. training, XX% associated to can trained guess, the cheaper I us on understand you advantages one easier is forward, or as there are it going the costs patient remaining of disadvantages the or that First me, on a of to For look that? give at and that? wanted example,

Shacey Petrovic

Sure. Yes.

a I be I not mean, patients disadvantages a or in lot of with terms of prefer frankly would in advantages, of trained to we're training. in perfect subset going and who virtual world a clinician there think any clinic. some to be a always are seeing think I

that has we witnessed that seeing kind virtual from I into were can was patients at of are they Friday that incredibly operate incredibly People more comfortable tell comfortable. by home. patients on been them just how feedback get able training positive. the from But on describing were I The to the it the insight incredibly one family you simple. just as

efficient, feedback been very very training, effective And has very it the positive. was so. a and

So I will regardless this continue is that think trend of a what happens telemedicine. with

positive of We a out are seeing of this. feedback lot

Our and positive. have has clinicians more be Patients very to can into the the been feedback get don't efficient. clinic

It's simple. just so

a needle. have don't You

to two straightforward through. walk a user You it's components, and have a – really don't have technology you

So, virtual it suited training. ideally is to

Malgorzata Kaczor

at are Okay. of Great. strategies sales and and of helpful. ENDOs and patients face-to-face very from patient with ENDOs terms I've so coming That's And marketing leads in with in strategic most then visits your interim, this point the the and discussions seen on.

you through summer get are any Thanks. like over going year-end to patients different through channel? an to that strategy maybe But, of kind change channels the or of online

Shacey Petrovic

of for Yes. Thanks, telehealth with Margaret. first, ENDOs are still activities. it's us I'll cases, how can in in and information to many pretty endocrinology from terms I remarkable virtual actually that really offices say – looking calls me that support sales happening are we

attended a I webinar physicians Omnipod with think that. focused and February, XXX like on telemedicine had in earlier we

got do this to support out well, a So with those there we've do and great how to insight discussions information able tremendous resources you to and demand this there for ENDOs. is be

away. coming So that's your But to point, where isn't that going from. obviously, are the headwinds

conferences a without the them Omnipod, at on: to perspective, try able all and to from train risk-free more benefits one, go to outreach, of it, needing resources fact digital you that like from travel reallocated two, sales marketing and a to the and the can engage have direct-to-patients, entertainment and We be clinic. you home things and can into

patients. believe early And that message we so but days, it's with will resonate

Operator

of Cowen. from of line next Blicker our question coming the Ryan And

open. Your line is

Ryan Blicker

you taking about market what Horizon you approval? to prior my Hi, U.S.? And in do in timelines? little believe revised assume to a Or then, bit trial more limited you questions. broadly a you assuming release could still do expect to the When the U.S. are a upon conduct your you talk thanks the FDA within launch for Can restarts? launch full Horizon

Shacey Petrovic

Thanks, Ryan.

submission FDA to anticipating a just So virtual time, cetera the the monitoring bit weeks protocols got we've sites, trial. et review for we just and follow-up retrain of on of patients. And restart of are then, the for a little few to

guess, bit And I so, a sometime going take we think the would that's of before time, to restart into we June, probably little trial.

new a release, to best release. market a do will terms we technology market limited release. And of a do in market limited any limited with It's practice

as and significant bit technology to to bring rapidly we possible We a us this going will a is out do can demand and what know get through take to other But to patients access there. time methods market release. the quickly of limited because, as is as we through little there it

Ryan Blicker

if patient due were Got to it. quarter? pharmacy? this. what now new the the do the COVID-XX? then of pharmacy the proportion Very through could the in apologize all you in U.S. And missed helpful. of the I But I proportion at starts U.S. the And base through what believe in pharmacy accelerated installed going transition Thank U.S. overall And is be to the your you.

Shacey Petrovic

issues Wayde almost have of now talk pharmacy percentage overall we pharmacy. in we the and starts. about gave our detail. the am terms new customers the that going then not maybe can take of I'll I U.S. what our But of base, through if XX% sure

And actually, training, customers scale that. I been help how we've about how our when talked thinking really experience lot self-service, business, this best cetera. do think And always the about et customer we get a easier do we we've through through about

tools web-based tools. virtual and Our training training our

is is and epidemic This was diabetes supply. pharmacy the too. endocrinology an work because underway this, piece of But in us, is for a big short

we be need. this growing demand able to business to need can that rapidly this we model innovate the meet to so in And unmet ensure

so, about of course, of the a is that piece all that. And stuff of we telemedicine talked

their patients customer office, experience. better be that, and that pharmacy the offices if of because role, much on important piece inform, every exciting and and aren't other a physicians' in educate, to play the really a is we But care and that there frequently, channel corner endocrinology your a could if need could leverage could unlike support pharmacy patients, potentially really

from an delivery or pump now, we, that right insulin standpoint, course, a channel standpoint insulin own. And of it's

possible – scaling it so, business. commercially and see provide cost-effective worthy investment experience most way of a And to we best a in very as the the our

Wayde McMillan

question. off your to just Hey, And add Ryan, to it's on Wayde. there round

as installed As new all starts, of pharmacy But starts. is new almost XX% Shacey starts at we patient the our pharmacy those and our base did in are We new majority as the those to pharmacy were patient well third patient through DASH of as grown give DASH, pharmacy has is be didn't our said, exact X type well. of and the through the a of XX%.

type and what's XX% a the growth pharmacy. volume part through DASH of to the So, now driving the X going big are

Shacey Petrovic

to drive the we've the great we've see, It's adoption much coverage coverage why the pharmacy. pharmacy pharmacy part in part establishing a of that's and we what last been saw channel. which in just – just so through even progress and why made too, fact, commercial access secured through piece to on of It's in to month, expand in channel, is big that we've able continues Cigna of tick-up the the

Operator

our And Jeff Johnson of line the Baird. from question next of coming

open. is line Your

Jeffrey Johnson

ease follow-up patient the the with starts prescribing around and quarter new afternoon. to decline of the XX% telehealth through the gating on maybe questions you. second and Thank and about triangulate Shacey, thereafter. in Hey, that. to your to I XX% Trying use then the Good of comments wanted that

that would or pump the the to doing think given comments are broader better than? I XX% same feel numbers guys than? Are your fourth third think at prescribing, insulin Do quarter you on than. that like XX% as maybe point? to giving, of do how you you market the and this compares ease About you better then Just worse and that the

your you would from just love represent field are docs the intelligence in kind hearing what relative competitive any to of numbers on But those market. out

Shacey Petrovic

Yes. Sure, Jeff.

know, in businesses. data IQVIA March. from what the visits I comment kind But are beginning since do don't primary think to just we of I research United market XX% want market – competitive that the pump and ENDO is down of States, on

seeing. a gives XX% is probably sense So others are that line to in you number what I XX% that right this think with

than can in are, say, do we while are and Omnipod telemedicine that to for build we on believe fit we telemedicine would bullish At I And on world we relying others. capabilities. is time, and lean ENDOs same the kind of what better in

capabilities I they while think and some still built sped support So our ahead exciting mechanisms kind across for offices, globe. the are of really and ENDO have we

be clinics able of capabilities Different in telemedicine. are to very different terms their support to in situations

the So, and for globe, support and little and bit how quickly of ahead across we're their telehealth particularly a this the out curve, United frankly, implement start how plays ENDO see States patients. to offices we'll in but can the

Operator

Our of next question coming James. from Jayson the Raymond Bedford line of

open. line is Your

Matt Wizman

on Jayson. Matt giving. It's My for is been type you Wizman much I appreciate color visibility This and is the the guys all Xs. have appreciated. question on

a in type of noticed bit base, utilization there of change any you kind in dynamics types with So more attrition amount with more time is been substantial users? have the the these now a of Xs or that

you been X more the And how the reimbursement commercial the on to on – bit could a broader payers type CGM then front, given front, friendly? also, have Thanks. environment especially some speak

Wayde McMillan

of question hand then second part Shacey the to I first Hey, I Great. part. – and can it the this is answer for Wayde. Matt. the can

So, part we material have have not a seen a mix change type of bigger Xs products. of as our become

stayed has steady QX also pretty first month of and Our through April. utilization through the

that done a we on model us was one that the year new the fact, in of to have product, of a things the channel, new beginning lot a our pay-as-you-go original at had things business new the guide when pushed the thought of we the model. And one annual attrition, new with we could guidance set things, and of lower our our because, a was end of radar

little what we room tick attrition better a we so, well attrition We that could QX And left in the seen bit. ticked slightly we historically. our in first attrition the see than ourselves is very actually we with quarter guide And performed had original some in up. experienced down

happy that. very we're about So

don't are a remarks, in we more head in in and As we because environment, though, this as recessionary-driven mentioned attrition into I my tick-down we utilization, prepared adding tick-up just a to then it the and from that we'll we ground know what the stake monitor start recessionary and there and go as for we going here. are holds us put environment in

Shacey Petrovic

It’s like if isn't question great, one of in type pharmacy require second of they or And type Wayde. for that really there the insulin. for there type distinguishment we reimbursement of around reimbursement your your is between really patients, the things X – a terms about X channel part X, are the

so fewer restrictions. And are there

for type that of it a technology the is dose we through between insulin very channel really X, reduces type both and delivery always It's needs an benefits patient clear distinguish educate and patient of or mechanism. And simpler total your provides X daily access provided insulin course, insulin-dependent payers Omnipod and fact the segments. then, doesn't on to

to so, through segments. channel reimbursement pharmacy that been two the fortunate And the between doesn't establish we've distinguish broad

Operator

Our is from America. of next question Steed of Bank line coming the of Travis

Your line open. is

Travis Steed

original a starts. on to patient Were those gave strong I Congratulations QX versus and understood doing wanted reductions you make new sure reductions for guide? the year-over-year everything versus or fully Wayde, you're your patients. I last in just year

you patient of if curious And assuming expansion year new coming there am are could on is those and just the being then, is the I the attrition starts sounds program. change the majority any the like in you of it on more guide, lowered. from what full color support patient provide change

Wayde McMillan

Thank Travis. you. Hi, Yes.

are our And right? I We two-stage new on estimates, really our sales for starts, into walking guide through question mentioned, good have previous course, of the of part first patient and is the the there. to cycle QX, So as visibility versus it expectations XXXX. those

QX, understand is thought And there these it just the environment, was half holds. obviously, that second to we really and for uncertainty to this key going good visibility in But for what out be lay more important we we business a the and you key so the go year. we message in throughout metrics ground, as can here it to for can the then our stake drivers then that put help and

just goes, model, this We we metric about our that key is advantage of full watch be recurring think the up to year pull most business durable have as a model. and guide think that, far the new revenue If for. As the we patient starts. significant will

of patients business we And get impacted we and see a I inability to ENDO for like it's new mean, our when March and really momentum unique with even did the the so carries. office, our in dynamic the to customers that, get

strong rates this And growth compounding what in so we've have starts. a strong really new QX patient in manage and to putting guide QX. got is of then for We're we

go quarters to last that's well starts, year. on if at end our two the or given we three comps because of So we going restrained weigh through new growth patient of especially performed tough we rate, had, so the

when comp, are So to in that into second we growth to some going rates manage lower the we through have annualize half. tough

new back as then normal when a then, regular the drive patient again build earlier, year see as cadence of get talked we're to telehealth, momentum through more normal, new back get new again new rates a we growth expected, may when momentum to even of a the start a our starts, getting which or to then starts more involve but we and normal is, and new where But about we assuming patient higher. end to our – start builds we Shacey the

start important patient to So, and metrics we felt that new other mentioned, key lay And out really attrition. it the was dynamic. utilization that I then

is We little utilization up little here new starts. patient a But driver a major down attrition have ticked the bit, bit.

that, watch going for to we it. are So

to half durability of going year. the of this model the first in certainly from are We the benefit here

all to then here pandemic through going metrics business key track beyond and are second We to this in XXXX. half the move back we'll these hopefully, and get

Shacey Petrovic

are I'll anyways. We hitting look patient who the your Travis, to regarding afford assistance And question program. because just comment the on able as at not would be these revenue, that don't product patients

proud really, of program. I'm really so And this

afford that Insulet it. be product. probably the can't who would access am proud we because traded didn't view as can to that headwind, they have of front we not I fact support the product But because a off had out patients those otherwise help was patients revenue the and might that able

Wayde McMillan

at we don't to But two Operator, time. please? get why we through more, one, are least over maybe try Okay.

Operator

next Sandler. Matt coming question, the of of Our Piper line from O'Brien

Your open. is line

Andrew Stafford

type pharmacy. you Thank believe little guys. your bit taking And Hi the was Appreciate volume to XX% color. definitely Drew question your the bit. a that about to wanted little on for here. on sales for Matt. of in of start said channels you is environment. off This help you a I this should due I

not thing diving through barriers of presented the to XX% of are But that being willingness, in of the work, be I process could availability, kind business, guess, there epidemic the this anything DME, that on the like that? patient other people paper outside access able patient limit it’s any by

Shacey Petrovic

I people living think challenges for the the type the with in one DME of limitation diabetes. of channel is access X

one area will then, likely see that's And availability. So about where I not or the others. access am not sure we

being with We in X indicate DME with is there that access. channel the the exception isn't a would seen environment really of particular haven't trends pharmacy the that challenge type that experienced

Wayde McMillan

please? question, Next

Operator

the coming Canaccord. line question next Our of Kyle from Rose of

Your line open. is

Kyle Rose

seeing patient are for falloff help a the maybe ENDO from very Great. the the appreciate delays new commentary maybe is, starts. understand questions to you visits. Two But just Thank in what and guidance, and more of assumptions the on us starts leads Are training the for bottlenecks you quarter. seeing the side? the strong I around – the on me. One in decline is like questions taking on much you congrats kind

commit from and a just more patient this wanting pump not resources it to time? economic to a Is at side,

you you Horizon and you to ecosystem patient – ask in question, think down longer-term use second telemedicine can pump have barriers and onboarding bringing perspective Thank overall the just launching ease apply that you. perspective? through of virtual as then, now, learned a just, far it the adoption from training just towards I And is this improving and as from process can that will what that

Shacey Petrovic

Great.

second. I'll I the think question of and your first take Wayde address part can the

Wayde McMillan

Sure.

good. Sounds

sales So see to our month weeks between a leads, and patient then starts. few we into typically leading our new lag a

And as really March. the we leads in hit I decline in saw mentioned, so, sales

into to direct March reference the Shacey's and is this a job starts. But through through transitioning prepared – have great the done pipeline into transition teams April in our done was working team for new talked we've to what the end working and remotely she in where the patient telehealth of and ability about remark, to

in what will And be to April seen to in we so, the is are in that a XX% it and of QX, what March, of to calculating to lead we've we guide impact happened for looking a result when May it new starts XX% and in reduction at pipeline, patient happen what it sales June.

on the way one. the that's So math works that

So from is, a are you a job. Kyle doing training perspective, that our teams great mentioned,

we every that's first into the both As Shacey weeks U.S. ramping are and day. said, few in And the and thousands OUS.

have with day find to are to virtually. the HCPs out are worked clearing bottlenecks worked teams the we more and efficient The able every the getting are IT rapidly with at the what teams bottlenecks learn hurdles, marketing what these being train – and teams are people to

Shacey Petrovic

I'll really that, thing about so on the from to it has to the be your continue mean very on technology market every lend have the learned tied day. to think question itself that from But tell learn exciting I to perspective will Horizon, you most I about we Horizon what simplest we the my is telehealth that environment. very, designed a well and outset been And

there about that other access the thing And Horizon, data. its real-time is cloud great is besides simplicity, to

whether between in And – are happening or that really particular, clinic and happening effective they via so easy patients enable telemedicine. they the that if some interactions in and physicians, should will be are

Wayde McMillan

please? Next question,

Operator

the of Our question of coming SVB Leerink. from Antalffy is next line Danielle

open. is line Your

Danielle Antalffy

you It's saw of program. of so a the I Thanks How had yes, patient have you quick last sort weeks I know much squeezing really seeing for quarter. are you seeing me this what assistance good and that utilized? quarter. guess, to question start attrition are on thanks. a I on in. Congrats few see. strong or what, in be the there. let's guess, you I maybe Hey, And

Wayde McMillan

Sure.

little there if mentioned a can question had I that attrition And historically. previous a to actually better So start, we've Shacey. was QX, through just you I like, than

in actually where thought we the model We saw we could see face higher of attrition. lower pay-as-you-go some And the attrition. so,

to called As actually prepared bit are they've opposite. get $X just attrited. of time I if figure It month into takes March, we more the in the if to know attrited. we saw out million becomes of order if acute actually it of end-customer a the we harder someone's skipped or they've out stocking. that But an remarks estimating a

that makes about to business, good our almost makes our insight still half of we business. break And really – up down, have which into direct up

would we for order exactly a asks typically than So, be know customer an it shipped. when earlier

QX. And million orders pulled $X QX of so, into we the about estimated customers worth from

guidance any are clarify to for impact we QX, assuming for just not QX. And in

are And the we'll pull-ahead has when see same end that in normalizes QX the half headwind We other the it of we QX. expect out. second that from assuming

So, saw of of where Danielle, because ordering. in some opposite, the we we kind saw customers strength March,

assuming are are see we We to going that second in here quarter. the again

too probably month to on as in think metrics the April. a pushing little I attrition far here impacts attrition As first start recessionary like early it's for of goes,

one very is a and So monitor that one we'll still that closely. TBD

take people many that the it program, far not because be. and going how now, will systems program advantage exactly to of utilized how As it we financial know as are right are we don't quantifying

whether the their was their to lost it's there are our process right wanted important mission and getting them. lost for in to to if there sure insurance another mentioned, or insurance, means make us who and just really that backstop someone they of the Shacey we in coverage and be job As Medicaid to with U.S. line in has through

that the smaller because of we at prioritized end, think of so, headwinds yet one And this to one is margin at I But list headwinds. can't – one we'll in gross it that it'll quantify I the time. be our be determined.

Danielle Antalffy

leave Thanks. Okay. there. it Great. just I’ll

Shacey Petrovic

Danielle. Thanks,

Wayde McMillan

Thanks, Danielle.

Shacey Petrovic

question one then, And last we'll take just please.

Operator

[Operator Instructions]

Shacey Petrovic

We can leave it there then.

Wayde McMillan

no on is there thanks. If Yes. one that,

Shacey Petrovic

Thanks, operator. Yes.

of first conditions, our market quickly challenges delivered So, in Despite the and team strong volatile stakeholders. shareholders to performance thank adapted you. financial we executed and operational The other on quarter. behalf and customers,

best the to times. keep during and So unprecedented you the to we'll continue updated this monitor we can that all situation

thanking and their want hard need. of pandemic remains three across safe support product they And the rely work can customers you, and this our global dedication. relentless by they team continents in that team our to even of It's get and the for because that us, I to know on Insulet our healthy, just face that close

our us and heartfelt wishes to So joining thoughts and out and thank today. your go you And Thanks. to of stay all all stay families safe you for healthy.

Operator

gentlemen, And Thank this your have conference. you Ladies today's concludes wonderful participation. and day. for a

You may disconnect. all

Insulet (PODD) 9 May 202020 Q1 Earnings call transcript