Sep 1, 2026, 6:50 AM ETHealthcare

MiniMed — Q1 FY27 Earnings Summary

MMEDMINIMED GROUP INC

Financial Performance

Worldwide net sales reached $843 million for the quarter ended July 31, 2026, representing a 16.6% increase as reported and 15.8% organic growth compared to $723 million in the prior year period.
U.S. net sales grew 13.1% to $240 million, while International net sales grew 18.1% to $603 million.
Gross profit was $465 million, up from $409 million in the prior year.
Operating income was $5 million, a significant improvement from an operating loss of $13 million in the prior year.
Net income attributable to the Company was $0, compared to a net loss of $19 million in the prior year.
Earnings per share (basic and diluted) were $0.00, compared to $(0.08) in the prior year.
Worldwide New Pumps Sold (NPS) increased 7.7% year-over-year to approximately 34,000 units.
Worldwide CGM Attachment Rate increased to 69%, up approximately 100 basis points quarter-over-quarter.
Revenue by segment: Pumps grew 21.5% to $144 million; Consumables grew 13.8% to $261 million; CGM grew 19.9% to $431 million; Other revenue declined 57.1% to $7 million.
The reported growth included an approximate 4-6% benefit from an extra week in the fiscal calendar; excluding this, organic growth was low-double digit.

Raised fiscal year 2027 organic revenue growth guidance to approximately 10.5%, up from the prior guidance of approximately 10%.
The FY27 organic revenue guidance includes an approximate 1.0% to 1.5% benefit from the extra week in Q1 FY27.
Reaffirmed adjusted EBITDA margin guidance of approximately 16% for fiscal year 2027.

MiniMed Flex™ with Simplera™ launched in the U.S., driving U.S. New Pumps Sold growth of over 20% year-over-year.
MiniMed Flex™ U.S. coverage expanded to Medicare and Medicare Advantage beneficiaries.
MiniMed Flex™ received CE Mark ahead of the calendar 2026 year-end target, with a commercial launch expected in November.
MiniMed Fit™ patch pump submitted to the U.S. FDA ahead of the Fall target, with a full U.S. launch expected in Summer 2027.
Vivera™ fully-closed loop algorithm U.S. pivotal trial enrollment for T1 and T2 patients is complete, with a U.S. launch on track for the second half of calendar 2027.
Next-gen MiniMed extended wear sensor received U.S. IDE approval, with first enrollment in the pivotal trial expected this Fall.
MiniMed™ 780G system with Instinct and MiniMed Go™ with Instinct Go launched in Europe.
International growth was driven by Simplera™ capacity expansion and the launch of the Instinct sensor (manufactured by Abbott).

Management stated the U.S. launch of MiniMed Flex™ is driving competitive conversions and generating significant new account growth.
The company positions itself to accelerate growth and strengthen leadership in automated insulin delivery as its ecosystem integrates.

Forward-looking statements are subject to risks including competitive factors, difficulties in development, manufacturing, marketing, and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, and general economic conditions.
Actual results may differ materially from anticipated results due to these uncertainties.

CEO Que Dallara described the start to the fiscal year as "excellent," citing accelerating U.S. growth, continued double-digit international growth, and strong execution across the innovation pipeline.
Management expressed confidence that the MiniMed ecosystem is well-positioned to create long-term shareholder value.

The press release includes a reconciliation of non-GAAP financial measures, specifically Organic Revenue Growth, to GAAP measures.
The company noted a $7 million benefit in Q1 2026 related to adjustments to Italian payback accruals, which is excluded from organic growth calculations.
The fiscal year 2027 ends on April 30, 2027.
A conference call was scheduled for September 1, 2026, at 5:45 a.m. PDT to discuss results.