Insulet Corporation

Good afternoon, ladies and gentlemen, and welcome to the Insulate Corporation first quarter 2022 earnings call. At this time, all participants are on a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow at that time. If anyone should require assistance during the conference, please press star then zero on your touchtone telephone. 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, Investor Relations.

Thank you, Dilem. Good afternoon, and thank you for joining us for Insulet's first quarter 2022 earnings call. With me today are Shacey Petrovic, President and Chief Executive Officer, Wade McMillan, Executive Vice President and Chief Financial Officer, and Jim Hollingshead, member of Insulet's Board of Directors and Insulet's future President and CEO. Chasey and Wade, along with Brett Christensen, our executive vice president and chief commercial officer, will be available for the Q&A portion of our call. Both the replay of this call and the press release discussing our 2022 first quarter results and 2022 guidance will be available on the investor relations section of our website. Before we begin, I would like to inform you that certain statements made by Insulet during the course of this call may be forward-looking. and could materially differ from current expectations. Please refer to the cautionary statements in our SEC filings for a detailed explanation of the inherent limitations of such statements. We'll also discuss non-GAAP financial measures with respect to our performance, namely adjusted EBITDA and constant currency revenue, which is revenue growth excluding the effect of foreign exchange. These measures align with what management uses as supplemental measures in assessing our operating performance, and we believe they are helpful to investors, analysts, and other interested parties as measures of our operating performance from period to period. Additionally, unless otherwise stated, all financial commentary regarding dollar and percentage changes will be on a year-over-year reported basis, with the exception of revenue growth rates, which will be on a year-over-year constant currency basis. With that, I'll turn the call over to Shaci.

Thanks, Deb. Good afternoon, everyone, and thank you for joining us. Before we turn to our first quarter results, I'd like to take a moment to talk about this afternoon's announcement that for personal reasons, I will be stepping down from my executive positions at Insulet. After careful consideration over some time, I have made the very difficult decision to reduce my professional obligations in light of medical issues and other circumstances that have been impacting my family and those I care deeply about. Effective June 1st, Jim Hollingshead, a member of our board of directors since 2019, will succeed me as president and CEO. I am extremely proud of what we have accomplished in my time as CEO. We have made significant strides to improve the lives of people with diabetes while enhancing insulin's ability to innovate and operate with excellence. Insulet is well positioned for the full U.S. commercial launch of Omnipod 5 and poised for continued growth and impact for shareholders and the diabetes community. I remain profoundly committed to Insulet and the company's long-term success and I look forward to continuing to serve as a director on Insulet's board and as an advisor to Jim and the team. I will be working hand-in-hand with Jim to ensure a seamless transition of leadership responsibilities. In recent years, we have made great progress improving the lives of people with diabetes by delivering consumer-focused innovation, growing the company's global addressable market, and driving operational excellence. Hundreds of thousands of potters around the world are leading happier and healthier lives because of our work and dedication. And with Omnipod 5, we will offer significantly improved outcomes and incredibly simplified diabetes management to millions of people across the globe. I have never been more excited or confident about Insulet's future. Insulet has a deep, talented team and is firing on all cylinders and poised for incredible growth. I know Jim well from our service on the Insulet board together, and I'm delighted that he is the one to step into the role of CEO at this important time. The company will be in great hands under his leadership. He knows our company, our culture, and our team. and the strong relationships he has fostered with our management team will immediately serve the company well and ensure a smooth transition. His significant experience at the rapidly evolving crossroads of medical technology and digital solutions will also be incredibly valuable to the company. Jim has joined us today, and I'd like to turn the call over to him for a few remarks.