MiniMed posts $3.1B in annual sales as international growth drives record

MiniMed reported Q4 net sales of $837 million, up 16% reported, as international markets drove record annual revenue above $3 billion for the first time.

"The results reflect strength in international markets and continued global adoption of the MiniMed 780G system," Chief Executive Officer Que Dallara said.

International net sales reached $599 million in Q4, up 22% reported and 12% organic, while U.S. net sales of $238 million grew 1.5%. For the full year, international revenue of $2.19 billion rose 21% reported and 11% organic, compared with U.S. revenue of $917 million, up 1.5%. Worldwide new pumps sold totaled about 145,000, unchanged year-over-year, while the CGM attachment rate improved to 66%, up 700 basis points.

The company ended fiscal 2026 with about 659,000 pump users. MiniMed expects organic revenue growth of approximately 10% in fiscal 2027, including a 1% to 1.5% benefit from an extra week, and an adjusted EBITDA margin of about 16%.

MiniMed's Q4 net loss widened to $183 million from $168 million a year earlier, while the full-year net loss attributable to the company reached $331 million, compared with $213 million in fiscal 2025. The results included certain litigation charges of $5 million in Q4 and $16 million for the full year, down sharply from $165 million in the prior year.

CGM revenue, the largest product category, rose 22% to $420 million in Q4 and 18% to $1.55 billion for the full year. Consumables revenue grew 12% to $249 million in Q4 and 12% to $956 million for the year. Pump revenue declined 5.5% to $146 million in Q4 but rose 1% to $546 million for the full year, as customers delayed purchases ahead of the MiniMed Flex launch.

The company announced several product milestones alongside earnings. MiniMed Go, its smart MDI system, launched in the U.S. last week. MiniMed Flex pre-orders began this week with shipments expected later this month. The company also extended its partnership with Abbott to develop dual glucose-ketone sensors for exclusive integration with MiniMed smart dosing systems.

The guidance raise signals management expects new product launches to accelerate growth. Investors will watch the MiniMed Flex and MiniMed Go adoption rates in the coming quarters as key drivers of revenue acceleration.

This article is for informational purposes only and does not constitute investment advice.