Business

Mass. Movers

Insulet boosts sales, narrows its net loss

A patient with diabetes tests his blood.

istockphoto.com

A patient with diabetes tests his blood.

Advertisement

Insulet Corp. soared as the Bedford company posted quarterly results. Revenue increased 20 percent to $57.4 million from a year earlier, and gross profit was up 24 percent to $25.2 million. Those increases, the company said, were driven by sales of the new, smaller, and lighter OmniPod Insulin Management System for diabetics, launched in the United States in February. Insulet’s net loss was $10.7 million, or $0.20 per share, compared to a net loss of $14.8 million, or $0.31, a year earlier.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.