MiniMed's Growth Story
MiniMed Exceeds Revenue Expectations with Q4 Growth, Reports Wider Loss Amid Strong Demand
Key Points
MiniMed’s fourth-quarter revenue of $837 million beat analysts’ estimate of $826.52 million, according to the earnings coverage.
The company’s CEO highlighted upcoming launches beyond the MiniMed 780G—specifically the MiniMed Flex and MiniMed Go systems—as part of its growth outlook.
For fiscal 2026, annual net sales rose 14% on a reported basis and 8% on an organic basis (the summary only states sales surpassed $3 billion).
Shares reacted to the results: pre-market trading was down 4.72% to $12.88, after the stock closed Tuesday’s regular session up 2.50%.
MiniMed filed an 8-K indicating that the June 3 earnings press release was attached as Exhibit 99.1, and that a slide presentation would be posted in advance of the earnings call on its Investor Relations site.
MiniMed Group posted $837 million in fourth-quarter revenue, beating analyst estimates of $826.52 million, according to MarketBeat. But the diabetes device maker's net loss widened to $183 million — up from $172 million a year earlier — sending shares down nearly 5% in pre-market trading to $12.88.
For the full fiscal year 2026, MiniMed crossed $3 billion in revenue for the first time, with net sales of $3.102 billion — a 14% jump on a reported basis. The annual net loss widened sharply to $331 million, from $213 million in fiscal 2025, per Stock Titan.
Abbott Deal and New Products Drive Revenue Beat
MiniMed's Q4 growth was fueled by strong demand for its flagship MiniMed 780G insulin delivery system. International revenue surged 20.6% on a reported basis, Stock Titan noted, while U.S. growth was just 1.5% — held back by customers waiting for the newly cleared MiniMed Flex pump.
On the same day as earnings, MiniMed expanded its partnership with Abbott Laboratories to commercialize dual glucose-ketone sensors built exclusively for MiniMed systems, according to MarketScreener. CEO Que Dallara said the company went public "the week after we received CE mark for the Instinct sensor made by Abbott," tying the two milestones closely together.
MiniMed Flex and Go Systems Set Up 2027 Push
MiniMed received FDA clearance for the MiniMed Flex in March 2026 — two quarters ahead of schedule, per HCPLive. The Flex is a smartphone-controlled, screenless pump that is half the size of the 780G. The company also cleared the MiniMed Go, a system aimed at patients who use multiple daily injections instead of a pump.
CEO Dallara named both the Flex and the Go as key growth drivers for fiscal 2027. The company now serves 659,000 pump users globally, according to PR Newswire. The CGM attachment rate — meaning the share of pump users also wearing a glucose sensor — rose to 66%, up 7 percentage points year over year.
Stock Slips as Losses Widen Despite Revenue Record
Shares fell 4.72% before the market opened, trading at $12.88, after closing the prior session up 2.50%. The stock has dropped roughly 45% since its March 2026 IPO at $20.00 per share, according to Seeking Alpha. Some analysts had expected the company to approach breakeven by late 2026, but the full-year loss of $1.29 per share fell short of that target.
CFO Chad Spooner pointed to IPO costs and separation expenses from Medtronic as drivers of the wider GAAP loss. The company held $298 million in cash with no long-term debt, per MarketBeat. StockInvest.us kept a "Sell" rating on the stock, citing negative technical signals despite the top-line beat.
MiniMed Targets 10% Growth and 16% EBITDA Margin in 2027
For fiscal 2027, MiniMed forecast about 10% organic revenue growth. That figure includes a 1.0% to 1.5% tailwind from an extra week in the calendar, per FT.com. The company also guided for an adjusted EBITDA margin of around 16% — a key step toward becoming a self-sustaining medical technology business.
Medicare coverage for the MiniMed 780G, secured in February 2026, opens up a large new U.S. patient pool. MiniMed's strategy now centers on being an "interoperable platform" using third-party sensors — chiefly Abbott's — rather than building its own, according to MedTech Dive.
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