MiniMed posts record sales
Diabetes technology leader MiniMed achieves record $3B sales and projects strong 2027 growth.
MiniMed (Nasdaq: MMED) crossed a major milestone on Tuesday, reporting annual net sales above $3 billion for the first time in its history. PR Newswire reported that full-year revenue hit $3.102 billion, up 14.2% from the prior year, while fourth-quarter net sales reached $837 million — a 16% jump as reported and 9% on an organic basis.
CEO Que Dallara called it "a strong finish to our fiscal year" and said the company is "confident" its new product launches will drive "long-term growth acceleration and value creation." The results mark the company's first full fiscal year as a standalone, publicly traded firm after spinning off from Medtronic in March 2026.
From Medtronic Spinoff to $3 Billion Standalone
MiniMed only began trading on the Nasdaq on March 6, 2026, pricing 28 million shares at $20 each and raising roughly $560 million in what MedTech Dive described as "the second largest IPO in Medtech history." That debut came after Medtronic announced plans to separate its diabetes division back in May 2025 under an internal strategy called "Project Kangaroo."
The separation returns MiniMed to its roots. The company was originally founded in the late 1970s by Alfred Mann before Medtronic acquired it in 2001. Its return as an independent firm mirrors moves by Johnson & Johnson, which spun off Kenvue, and Baxter, which created Vantive.
New Pumps and Sensors Fuel the Product Pipeline
Just one week after its IPO, the FDA cleared MiniMed Flex™ — a smaller, screenless insulin pump controlled entirely by smartphone, according to HCPLive. The company also holds FDA clearance for the MiniMed Go™ Smart MDI system and a CE Mark for the Instinct sensor in Europe. Both products are now in active global launch.
On the same day as its earnings report, MiniMed announced an expanded partnership with Abbott to develop dual glucose-ketone sensors, according to Investing.com. These sensors would flag dangerous acid levels in real time — a tool aimed at preventing Diabetic Ketoacidosis, the leading cause of death in children with Type 1 diabetes. MiniMed now serves roughly 659,000 pump users worldwide.
U.S. Growth Stalls While International Sales Surge
Not all regions performed equally in Q4. International net sales hit $599 million, up 22.4% as reported. But U.S. growth was nearly flat, rising just 1.5%. Stock Titan noted that domestic customers appear to be holding off on purchases while they wait for the newly cleared MiniMed Flex™ pump to become widely available.
The company's FY27 guidance calls for roughly 10% organic revenue growth and an adjusted EBITDA margin of about 16%. That guidance includes a 1.0 to 1.5 percentage point boost from an extra week in the 53-week fiscal year, according to PR Newswire.
Record Revenue Masks Widening Losses for New Company
Behind the top-line growth lies a harder number. MiniMed posted a GAAP net loss of $331 million for FY26, up sharply from a $213 million loss in FY25. Stock Titan framed the results as "significant financial growing pains" for a company still absorbing the costs of going public and ramping up new product launches.
Analysts are split on the stock. Goldman Sachs and BTIG hold price targets between $24 and $25, citing a "catalyst-rich" pipeline and a 66% CGM attachment rate, according to Investing.com. But analysts at Seeking Alpha urged caution, suggesting investors wait for "a clear path to profitability" before buying in.
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