MiniMed Delivers Strong Fourth Quarter and Full Fiscal Year 2026 Financial Results; Provides Fiscal Year 2027 Outlook

(High)

(Positive)

Rhea-AI Summary

MiniMed (Nasdaq: MMED) reported strong Q4 and fiscal 2026 results and issued fiscal 2027 guidance.

Q4 net sales were $837 million, up 15.6% reported and 8.7% organic. Fiscal 2026 net sales reached a record $3.102 billion, up 14.2% reported and 8.0% organic, led by international growth and higher CGM attachment.

Fiscal 2027 guidance calls for ~10% organic revenue growth (including 1.0–1.5% from an extra week) and ~16% adjusted EBITDA margin. MiniMed advanced its pipeline with FDA clearances for MiniMed Flex and MiniMed Go, CE Marks for expanded MiniMed 780G indications, new launches, and an extended Abbott sensor partnership.

Positive

Q4 2026 net sales $837 million, up 15.6% reported and 8.7% organic
Fiscal 2026 net sales $3.102 billion, up 14.2% reported and 8.0% organic
International Q4 net sales $599 million, up 22.4% reported and 12.2% organic
Worldwide CGM attachment rate up to 66%, +700 bps year-over-year
Fiscal 2027 outlook: ~10% organic growth and ~16% adjusted EBITDA margin
FDA clearances, CE Marks, and new product launches plus extended Abbott partnership

Negative

U.S. Q4 and fiscal 2026 net sales grew only 1.5% reported and organic
Worldwide new pumps sold ~145,000 in fiscal 2026, unchanged year-over-year

News Market Reaction – MMED

+15.93%

40 alerts

+15.93% Session close to close

+11.1% Peak in 26 hr 53 min

$4.26B Market Cap

1.1x Rel. Volume

In the Jun 3 session, MMED gained 15.93%, reflecting a significant positive market reaction. Argus tracked a peak move of +11.1% during that session. Our momentum scanner triggered 40 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +15.9% in the session following this news. A strong positive reaction aligns with M...

Analysis

The stock surged +15.9% in the session following this news. A strong positive reaction aligns with MiniMed’s reported Q4 net sales of $837 million, record FY26 net sales of $3.102 billion, and a FY27 outlook calling for 10% organic growth and 16% adjusted EBITDA margin. Historical news flow has sometimes seen good product and clinical updates met with mixed trading, so sustained strength would likely depend on how investors weigh ongoing international growth, U.S. pump trends, and execution against the new product launch schedule.

Key Figures

Q4 net sales: $837 million FY26 net sales: $3.102 billion FY26 international net sales: $2.185 billion +5 more

8 metrics

Q4 net sales $837 million Fiscal Q4 2026 worldwide net sales, 15.6% reported growth

FY26 net sales $3.102 billion Fiscal year 2026 worldwide net sales, 14.2% reported growth

FY26 international net sales $2.185 billion Fiscal year 2026 international net sales, 20.6% reported growth

FY26 U.S. net sales $917 million Fiscal year 2026 U.S. net sales, 1.5% reported growth

FY26 new pumps sold ≈145,000 Worldwide New Pumps Sold in FY26, unchanged year-over-year

FY26 pump users ≈659,000 Worldwide pump users at end of fiscal 2026

FY27 organic growth 10% Expected FY27 organic revenue growth, including 1.0–1.5% extra-week benefit

FY27 adj. EBITDA margin 16% Expected Adjusted EBITDA margin for fiscal year 2027

Historical Context

5 past events · Latest: May 27 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 27	Product showcase	Positive	-3.4%	Showcase of MiniMed Flex™ and MiniMed Go™ at ADA Scientific Sessions.
May 26	Conference participation	Neutral	-5.8%	Participation in Goldman Sachs Global Healthcare Conference investor session.
May 21	Clinical outcomes data	Positive	+0.8%	Trial showing consistent glycemic outcomes across sensors with MiniMed 780G.
Apr 13	Earnings date set	Neutral	+5.7%	Announcement of date and time for Q4 and FY26 earnings release and webcast.
Mar 18	FDA clearance	Positive	-0.2%	FDA clearance of MiniMed Flex™ smartphone-controlled insulin pump.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent fundamentally positive news (product clearance, clinical data, launches) has sometimes seen muted or negative next-day reactions, indicating occasional divergence between news quality and price response.

Recent Company History

Over the last few months, MiniMed has progressed from securing FDA clearance for MiniMed Flex™ and reporting positive clinical data on the MiniMed 780G system to preparing key conference visibility and today’s strong FY26 results and FY27 outlook. Prior headlines on Flex clearance (Mar 18) and clinical outcomes (May 21) highlighted product strength but drew mixed price reactions. An earnings-date announcement on Apr 13 saw a positive move. Overall, the company’s trajectory centers on expanding its diabetes technology ecosystem and building on recent regulatory and clinical milestones.

Key Terms

organic revenue growth, adjusted EBITDA margin, fda clearance, ce mark, +3 more

7 terms

organic revenue growth financial

"For the fiscal year 2027 ending April 30, 2027, MiniMed expects:Organic revenue growth..."

Organic revenue growth is the increase in a company's sales that comes from its existing products and services, without including any gains from acquisitions or selling off parts of the business. It reflects the company’s ability to attract more customers or encourage existing customers to buy more over time. For investors, it indicates the company's underlying strength and efficiency in expanding its core operations.

adjusted EBITDA margin financial

"MiniMed expects:Organic revenue growth of approximately 10%...Adjusted EBITDA margin of approximately 16%."

Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.

fda clearance regulatory

"Advanced global pipeline ahead of schedule with FDA clearance for MiniMed Flex™..."

FDA clearance is the U.S. Food and Drug Administration’s official permission to market certain medical devices or diagnostic tests after reviewing evidence that they are as safe and effective as similar products already on the market. For investors, it’s like a product passing a required safety inspection — it reduces regulatory uncertainty, speeds commercial rollout, and can directly affect sales prospects, valuation, and partnership opportunities.

ce mark regulatory

"ahead of schedule with FDA clearance for MiniMed Flex™, CE Mark for Instinct..."

A CE mark is a regulatory stamp placed on products to show they meet the European Union’s basic safety, health and environmental rules and can be sold in the European Economic Area. For investors it matters because the mark unlocks market access, affects how quickly a product can generate revenue, and signals regulatory risk and potential compliance costs—think of it as a passport that lets a product enter a large market.

pivotal study medical

"Started U.S. pivotal study for Vivera™ third generation fully closed loop algorithm..."

A pivotal study is a large, definitive clinical trial designed to show whether a medical product works and is safe enough for regulators to approve and for doctors to use. Think of it as the final exam that determines whether a drug or device moves from testing into the market; its results can dramatically change a company’s approval chances, future sales prospects, and therefore its stock value.

non-gaap financial measures financial

"In addition to our financial results determined in accordance with U.S. GAAP, we present... non-GAAP financial measures..."

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

webcast technical

"The live audio webcast will be available on the Investor Relations section..."

A webcast is a live or recorded online event where people watch or listen to presentations, announcements, or performances through the internet. It’s like a TV broadcast but over the internet, allowing viewers from anywhere to tune in in real time or later. Webcasts are important because they let companies share information quickly and widely with audiences around the world.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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06/03/2026 - 06:46 AM

Continued momentum in Q4, with net sales of $837 million growing 16% as reported and 9% organic year-over-year
Record annual net sales performance surpasses $3B for first time, growing 14% as reported and 8% organic
Advanced global pipeline ahead of schedule with FDA clearance for MiniMed Flex™, CE Mark for Instinct, and global launch of MiniMed Go™ Smart MDI

NORTHRIDGE, Calif., June 3, 2026 /PRNewswire/ -- MiniMed (Nasdaq: MMED), a global leader in diabetes technology, today reported financial results for its fourth quarter and full fiscal year ended April 24, 2026.

"MiniMed delivered a strong finish to our fiscal year, driven by strength in international markets and continued global adoption of the MiniMed™ 780G system," said MiniMed Chief Executive Officer Que Dallara. "Looking ahead, we're confident that our launches of MiniMed Flex™ and MiniMed Go™ will support long-term growth acceleration and value creation."

Fiscal Fourth Quarter Results

Continued momentum through the second half of the fiscal year 2026, driven by Simplera™ and Instinct sensor, made by Abbott, CGM launches
Worldwide net sales of $837 million grew 15.6% as reported and 8.7% organic
- International net sales of $599 million grew 22.4% as reported and 12.2% organic, driven by Simplera capacity expansion; International New Pumps Sold (NPS) increased high-single digits sequentially
- U.S. net sales of $238 million grew 1.5% as reported and organic, as early FDA clearance of MiniMed™ Flex shifted demand of customers who preferred to wait for the new system. Flex is on track to launch this month. U.S. momentum continued with NPS increasing mid-single digits sequentially driven by new sensor launches
Worldwide NPS of ~42,000, an increase of 7.4% quarter-over-quarter
Worldwide CGM Attachment Rate of 68%, an increase of 100 bps quarter-over-quarter

Fiscal Year 2026 Results

Worldwide net sales of $3.102 billion grew 14.2% as reported and 8.0% organic
- International net sales of $2.185 billion grew 20.6% as reported and 11.2% organic
- U.S. net sales of $917 million grew 1.5% as reported and organic
Worldwide New Pumps Sold of ~145,000 were unchanged year-over-year
Worldwide CGM Attachment Rate of 66%, an increase of 700 bps year-over-year
Ended FY26 with worldwide pump users of ~659,000

Fiscal Year 2026 Highlights

Commercial launches of MiniMed™ 780G system with Instinct sensor and Simplera Sync™ sensor in the U.S.; MiniMed Go™ Smart MDI system in EMEA
U.S. FDA clearances of MiniMed Flex™ next-generation insulin pump and MiniMed Go™ Smart MDI system
CE Marks received for MiniMed™ 780G system with Instinct sensor, and MiniMed™ 780G system for ages 2 and older, pregnant women, and type 2 diabetes
U.S. pharmacy formulary access for MiniMed™ 780G system and Medicare access for MiniMed™ 780G system with Instinct sensor
Started U.S. pivotal study for Vivera™ third generation fully closed loop algorithm for type 1 and type 2 diabetes

New Announcements Made Today

U.S. MiniMed Go™ was launched last week
MiniMed™ 780G with Instinct will launch in Europe later this month
MiniMed Flex™ pre-orders in the U.S. started this week and expect to begin shipping later this month
Extension today to Abbott partnership to commercialize dual glucose-ketone sensors designed to integrate exclusively with our MiniMed smart dosing systems

Fiscal Year 2027 Outlook
For the fiscal year 2027 ending April 30, 2027, MiniMed expects:

Organic revenue growth of approximately 10%, which includes a 1.0 to 1.5% expected benefit from the extra week in FY27.
Adjusted EBITDA margin of approximately 16%.

Conference Call Details
MiniMed will host a conference call at 5:45 a.m. Pacific Daylight Time (PDT) today, Wednesday, June 3, 2026, to discuss its fourth quarter and full fiscal 2026 financial results. The live audio webcast will be available on the Investor Relations section of MiniMed's website at investors.minimed.com. Within 24 hours of the webcast, an archived replay will be available for a minimum of 12 months following the call.

Investor Presentation
An investor presentation providing additional information and analysis can be found on the Investor Relations section of MiniMed's website at investors.minimed.com.

Non-GAAP Financial Measures
In addition to our financial results determined in accordance with U.S. GAAP, we present in this earnings press release certain financial measures that facilitate management's review of the operational performance of MiniMed and serve as a basis for strategic planning; however, such financial measures are not presented in our financial statements prepared in accordance with U.S. GAAP. These financial measures are considered "non-GAAP financial measures" and are intended to supplement, and should not be considered as superior to, financial measures presented in accordance with U.S. GAAP. This includes Organic Revenue Growth. We believe that non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and trends and may facilitate comparisons with the performance of other companies in the medical technologies industry.

In particular, we believe that the use of Organic Revenue Growth is helpful to our investors as it is a metric used by management to assess the health of our business and our operating performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.

In the tables included at the end of this earnings press release, a reconciliation is provided for each historical non-GAAP financial measure included in this release to the most directly comparable financial measure stated in accordance with U.S. GAAP.

MiniMed calculates forward-looking Organic Revenue Growth and Adjusted EBITDA margin, which are non-GAAP financial measures, based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. MiniMed does not provide a reconciliation of forward-looking Non-GAAP measures to the comparable GAAP measure because certain items cannot be reasonably predicted without reasonable effort. Such items could have a substantial impact on GAAP measures of financial performance.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, general economic conditions, and other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission. In some cases, you can identify these statements by forward-looking words or expressions, such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "looking ahead," "may," "plan," "possible," "potential," "project," "should," "going to," "will," and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. MiniMed does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances.

About MiniMed
MiniMed is a global leader in insulin delivery, constantly advancing therapies that support people with diabetes in more than 80 countries. Our full-stack, integrated ecosystem, including our insulin delivery systems, CGMs, algorithms, and easy-to-use app experience, is designed to work seamlessly together, supported by white-glove, wrap-around service. For over 40 years, we've pioneered therapies people can rely on by anticipating needs, reducing burden, and helping make life with diabetes easier. Our mission is to make every day a better day for people with diabetes.

MINIMED GROUP INC CONSOLIDATED STATEMENTS OF OPERATIONS

	Three months ended (Unaudited)		Fiscal Year Ended
(in millions, except per share data)	April 24, 2026	April 25, 2025	April 24, 2026	April 25, 2025
Net sales	$ 837	$ 724	$ 3,102	$ 2,715
Cost of products sold	357	319	1,422	1,187
Gross Profit	480	405	1,680	1,528
Operating Expenses:
Research and development expense	99	107	448	436
Selling, general, and administrative expense	299	276	1,183	1,080
Certain litigation charges, net	5	165	16	165
Other operating (income) expense, net	168	4	221	(8)
Operating loss	(91)	(148)	(188)	(146)
Other non-operating income, net	(1)	—	(1)	1
Income before income taxes	(90)	(148)	(187)	(147)
Income tax provision	93	21	128	52
Net loss	$ (183)	$ (168)	$ (315)	$ (198)
Net income attributable to noncontrolling interests	—	(5)	(16)	(15)
Net loss attributable to the Company	$ (183)	$ (172)	$ (331)	$ (213)
Basic and diluted loss per share	$ (0.68)	$ (0.68)	$ (1.29)	$ (0.84)
Basic and diluted weighted average shares outstanding	268.1	252.8	256.6	252.8

The data in the schedule above has been intentionally rounded to the nearest million.

MINIMED GROUP INC WORLDWIDE REVENUE⁽¹⁾ (Unaudited)

	FOURTH QUARTER				YEAR-TO-DATE
(in millions)	FY26	FY25		Growth	FY26	FY25	Growth
Pumps	$ 146		$ 154	(5.5) %	$ 546	$ 541	1.0 %
Consumables	249		223	11.7 %	956	854	11.8 %
CGM	420		345	21.6 %	1,553	1,313	18.2 %
Other⁽²⁾	22		2	NM	46	6	NM
Total	$ 837		$ 724	15.6 %	$ 3,102	$ 2,715	14.2 %

(1)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(2)

Primarily includes net sales generated from the sales of smart insulin pens and services. Amounts in this line also reflect adjustments to the Company's Italian payback accruals resulting from two rulings in 2024 by the Constitutional Court of Italy and the Legislative Decree published by the Italian government on June 30, 2025 for certain prior years since 2015. For the three months ended April 24, 2026 and April 25, 2025, there were no adjustments to the Italian payback accruals. For the full year ended April 24, 2026 and April 25, 2025, adjustments to the Italian payback accruals were $7 million and ($20) million, respectively.

MINIMED GROUP INC
GAAP TO NON-GAAP RECONCILIATIONS

The data in the following schedules have been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Organic Revenue Growth⁽¹⁾

	Three Months Ended
	Reported net sales			Adjustments		Organic Revenue
(in millions)	April 24, 2026	April 25, 2025	Growth	April 24, 2026⁽³⁾	April 25, 2025	April 24, 2026⁽³⁾	April 25, 2025	Growth
U.S.⁽²⁾	$ 238	$ 234	1.5 %	$ —	$ —	$ 238	$ 234	1.5 %
International⁽²⁾	599	489	22.4 %	50	—	549	489	12.2 %
Total	$ 837	$ 724	15.6 %	$ 50	$ —	$ 787	$ 724	8.7 %

(1)	Organic Revenue Growth measures revenue growth trends excluding the impacts of foreign currency rate fluctuations and adjustments to MiniMed's Italian payback accrual for certain prior years since 2015. We use Organic Revenue Growth to assess our performance on a consistent basis by removing the impacts of foreign currency rate fluctuations and adjustments to the Italian payback accrual that we believe do not directly reflect our underlying operations.
(2)	U.S. includes the United States and U.S. territories. International includes all other non-U.S. countries.
(3)	The three months ended April 24, 2026 excludes $50 million of revenue adjustments related to favorable currency impact on net sales. The currency impact to net sales measures the change in net sales between current and prior year periods using constant exchange rates.

	Fiscal Year Ended
	Reported net sales			Adjustments		Organic Revenue
(in millions)	April 24, 2026	April 25, 2025	Growth	April 24, 2026⁽²⁾	April 25, 2025⁽³⁾	April 24, 2026⁽²⁾	April 25, 2025⁽³⁾	Growth
U.S.⁽¹⁾	$ 917	$ 903	1.5 %	$ —	$ —	$ 917	$ 903	1.5 %
International⁽¹⁾	2,185	1,812	20.6 %	147	(20)	2,038	1,832	11.2 %
Total	$ 3,102	$ 2,715	14.2 %	$ 147	$ (20)	$ 2,955	$ 2,735	8.0 %

(1)	U.S. includes the United States and U.S. territories. International includes all other non-U.S. countries.
(2)	The fiscal year ended April 24, 2026 excludes $147 million of revenue adjustments, including a $7 million sales benefit from the reduction in the Italian payback accruals in the first quarter of fiscal year 2026 due to changes in estimates as a result of the Legislative Decree published by the Italian government on June 30, 2025 for years 2015 to 2018 and $140 million of favorable currency impact on the remaining net sales. The currency impact to net sales measures the change in net sales between current and prior year periods using constant exchange rates.
(3)	The fiscal year ended April 25, 2025 excludes $20 million of Italian payback accruals as a result of the two July 22, 2024 rulings by the Constitutional Court of Italy for certain prior years since 2015.

View original content to download multimedia:https://www.prnewswire.com/news-releases/minimed-delivers-strong-fourth-quarter-and-full-fiscal-year-2026-financial-results-provides-fiscal-year-2027-outlook-302789603.html

SOURCE MiniMed

FAQ

How did MiniMed (MMED) perform in Q4 fiscal 2026?

MiniMed reported solid Q4 fiscal 2026 results, with broad-based growth led by international markets. According to MiniMed, worldwide net sales were $837 million, increasing 15.6% reported and 8.7% organic, supported by sensor launches and continued adoption of the MiniMed 780G system.

What were MiniMed (MMED) full fiscal year 2026 earnings highlights?

MiniMed delivered record fiscal 2026 revenue, surpassing $3 billion for the first time. According to MiniMed, worldwide net sales reached $3.102 billion, up 14.2% reported and 8.0% organic, with international sales of $2.185 billion growing 20.6% reported and 11.2% organic.

What guidance did MiniMed (MMED) provide for fiscal year 2027?

MiniMed expects continued growth and improved profitability in fiscal 2027. According to MiniMed, it forecasts approximately 10% organic revenue growth, including a 1.0–1.5% benefit from an extra week, and an adjusted EBITDA margin of about 16% for the year ending April 30, 2027.

How did MiniMed’s U.S. business perform in fiscal 2026?

MiniMed’s U.S. revenue grew modestly in fiscal 2026 compared with stronger international trends. According to MiniMed, U.S. net sales were $917 million, increasing 1.5% reported and organic, with Q4 U.S. net sales of $238 million, also up 1.5% reported and organic.

What were MiniMed (MMED) pump and CGM metrics for fiscal 2026?

MiniMed showed stable pump volumes and higher sensor adoption in fiscal 2026. According to MiniMed, worldwide new pumps sold were about 145,000, unchanged year-over-year, while the worldwide CGM attachment rate reached 66%, increasing 700 basis points from the prior year.

What new product and regulatory milestones did MiniMed (MMED) announce?

MiniMed reported several device clearances and launches that support its growth strategy. According to MiniMed, the FDA cleared MiniMed Flex and MiniMed Go, CE Marks were obtained for expanded MiniMed 780G indications, MiniMed Go launched in the U.S., and the Abbott sensor partnership was extended.

How might MiniMed’s Abbott partnership extension affect MMED investors?

The Abbott partnership extension deepens MiniMed’s sensor integration strategy. According to MiniMed, the companies will commercialize dual glucose-ketone sensors designed to integrate exclusively with MiniMed smart dosing systems, potentially strengthening its ecosystem and supporting future adoption of MiniMed pumps and smart MDI platforms.