Insulet Corporation

I would like to welcome Tim Scannell, Chair of our Board of Directors to our call, as well as Ashley McEvoy, our new President and Chief Executive Officer. Joining Ashley is Ana Maria Chadwick, Chief Financial Officer and Treasurer. Also joining us for the Q&A portion of today's call is Eric Benjamin, Chief Product and Customer Experience Officer. Both the replay of this call And the press release with our quarterly results and guidance will be available on the investor relations section of our website. Also on our website is our supplemental earnings presentation. We encourage you to reference that document for a summary of key metrics and business updates. Before we begin, we remind 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 will also discuss non-GAAP financial measures with respect to our performance, including adjusted operating income, adjusted EBITDA, adjusted tax rate, 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 from period to period, and we believe they are helpful for others as well. 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 will turn the call over to Tim Scannell, Chair of the Board of Directors.

Thank you, and good afternoon, everyone. It is a pleasure to join today's call and share our excitement at the board level for welcoming Ashley McEvoy to Insulet as president and CEO. I would also like to thank Jim Hollingshead for his leadership of the company over recent years. Ashley is a battle-tested operator who comes to Insulet with a track record of driving durable growth and value creation in market-leading businesses. She brings over 15 years of leadership experience at scaled consumer franchises, complemented by more than a decade in senior leadership roles at Johnson & Johnson, where she successfully restored five multibillion-dollar global businesses to above-market revenue growth and competitive margins. Ashley brings an exceptional combination of strategic vision and operational discipline to Insulet. She understands what it takes to lead at scale and do it with speed, accountability, and a relentless focus on execution. We appreciate that this transition has raised some questions regarding timing, but we are extremely confident that now is the right time with Insulet positioned for substantial further growth in the Type 1, Type 2, and international markets to bring her leadership to the company. The Insulet team is already executing well. as is demonstrated by our recent results and the guidance raised today. In moving forward, Ashley and the Insulet leadership team have the board's full support and confidence to continue driving the company's strategy to lead with differentiated technology and improve the lives of more people with diabetes globally. We believe Ashley's leadership will ensure we continue to execute on that strategy. drive performance at global scale, and deliver value across our team, partners, customers, and shareholders. We are proud of Insulet's success and performance over time, and we look forward to supporting Ashley's leadership success during Insulet's next phase of growth. With that, I will turn the call over to Ashley.

Thank you, Tim, and good afternoon, everyone. Let me start by extending my gratitude especially to our team, for the warm welcome. I'm thrilled and honored to join you today on my first earnings call as the new president and CEO of Insulet. I want to share with you my excitement for this opportunity, as well as my background and leadership philosophy to drive Insulet to its next chapter of growth and innovation. What excites me most about Insulet is its unique position at the intersection of consumer health and medtech. I come to this business as a seasoned operator with a passion for growing businesses in both the consumer and healthcare sectors. I have a deep appreciation for the consumer's increasing role in healthcare decisions and understanding that it's especially relevant to a wearable technology like Omnipod. What excites me about MedTech today is the incredible progress and innovation towards smarter, less invasive, and more personalized solutions. We're witnessing a shift where technology is improving clinical outcomes and reshaping the patient experience to become more intuitive and effortless. I also have a passion for scaling businesses, not just in terms of financial performance, but through a relentless focus on growth, innovation, and people. That's what makes this space so energizing. the opportunity to build something that matters and to do it in a way that meets the evolving expectations of patients, providers, and the broader healthcare ecosystem. Taking insulin from $2 billion in revenue and 500,000 global patients to have a substantially greater impact will all be about our people, our culture, our innovation agenda, and our capabilities. Developing portfolio roadmaps making strategic capital allocations, and executing on our plans will be particularly important as we continue growing within the Type 1 market, expand our new Type 2 indication, and advance globalization. I look forward to working with the team to strengthen our business practices, ensuring that we are operating with agility and sophistication required of a world-class leader while maintaining our entrepreneurship and ingenuity. We are already a pioneer in advanced automation. There's even more work we can do to invest in and optimize our capabilities globally. Further, we will sharpen our focus on brand activation and direct-to-consumer strategies, leveraging the power of Omnipod to reach both healthcare professionals and patients directly. We'll also harness our unique wealth of data with over 365,000 customers Cloud Connected today to improve the prescriber and patient experience with Omnipod as we work to improve engagement, retention, and outcomes. My leadership philosophy is really centered on three pillars, purpose, people, and performance. I believe that living our purpose, which is profoundly impactful here at Insulet, serving people within the diabetes community, and by empowering our people further, we will deliver superior results. Insulet is already a standout success story. We are one of the fastest growing businesses in MedTech, increasingly profitable and delivering positive free cash flow. This success is driven by winning technology and continued investment in market leading innovation. With significant tailwinds at our back, now is the time to envision what it will take to expand from a MedTech platform with emerging global strength to a durable world leader in diabetes management, an engine of profitable growth and cash generation at scale. I plan to dive into our drivers and strategy with the support of our team and board of directors over the coming weeks and months. In the meantime, I can assure you that our strategic priorities, namely to advance innovation, drive strong growth in the U.S. Type 1 and Type 2 populations, and expand internationally are fully intact. As Ana will discuss shortly, we are executing as well as ever, evidenced by 30% growth in the first quarter and a strong set of catalysts ahead as we bring Omnipod 5 to more lives globally. We look forward to giving you a more specific sense of our multi-year roadmap during investor day when the time's right. For now, my focus is going to be on learning the fundamental building blocks of this business. I'm energized by the strength of Insulet's strategy and power of our differentiated technology. And just two weeks in, I've hit the ground running with our passionate, talented team. I plan to spend more time with our people, our partners, our customers, our potters, and all of our folks in the manufacturing floors in the days and weeks ahead. I couldn't be more excited about this journey and the opportunity to share it with all of you. With that, I will turn the call over to Ana to discuss first quarter results and guidance.