MiniMed (MMED) grows revenue to $3.1B in FY 2026 but widens loss
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
MiniMed Group, Inc. reported strong fourth quarter and full fiscal year 2026 revenue growth but remained unprofitable. Fourth quarter net sales were $837 million, up 15.6% as reported and 8.7% organic, driven largely by international markets and continuous glucose monitoring (CGM) products. Full-year net sales reached $3.102 billion, up 14.2% as reported and 8.0% organic, marking the first time MiniMed surpassed $3 billion in annual revenue.
Despite this top-line strength, MiniMed posted a fiscal 2026 net loss attributable to the company of $331 million, widening from $213 million a year earlier, with a basic and diluted loss per share of $1.29. Fourth quarter net loss attributable to the company was $183 million. CGM revenue grew faster than pumps, and the worldwide CGM attachment rate rose to 66% for the year, with approximately 659,000 pump users at year-end.
Looking ahead to fiscal 2027, MiniMed targets organic revenue growth of about 10%, including a modest benefit from an extra week in the fiscal year, and an adjusted EBITDA margin of about 16%. The company highlighted multiple recent product launches and regulatory clearances as key drivers for future growth.
Positive
- Strong revenue growth and scale: Fiscal 2026 net sales reached $3.102 billion, up 14.2% as reported and 8.0% organic, with CGM revenue growing 18.2% and international net sales up 20.6% as reported.
Negative
- Widening GAAP losses: Net loss attributable to the company increased to $331 million in fiscal 2026 from $213 million in 2025, and the business remained loss-making on both an operating and net income basis.
Insights
MiniMed delivers double-digit revenue growth and detailed 2027 targets but continues to post sizable GAAP losses.
MiniMed showed strong commercial momentum, with fiscal 2026 net sales of $3.102 billion, up 14.2% as reported and 8.0% organic. Growth was led by CGM, where revenue rose 18.2% for the year, while pumps were broadly flat. International net sales increased 20.6% as reported, underscoring global adoption of newer systems.
However, profitability remains a key challenge. The company recorded a fiscal 2026 net loss attributable to the company of $331 million, compared with $213 million in the prior year, and an operating loss of $188 million. Fourth quarter results showed a similar pattern, with a net loss attributable to the company of $183 million on $837 million of net sales. Litigation charges and other operating items weighed on margins.
Management’s outlook for the fiscal year ending April 30, 2027 calls for approximately 10% organic revenue growth, including a 1.0–1.5% benefit from an extra week, and an adjusted EBITDA margin near 16%. Execution on new product launches such as MiniMed Flex and MiniMed Go, along with the extended Abbott partnership, will be important factors influencing whether MiniMed can move closer to sustained profitability as future filings update progress.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q4 2026 net sales: $837 million
FY 2026 net sales: $3.102 billion
FY 2026 net loss attributable to the company: $331 million
+5 more
8 metrics
Q4 2026 net sales
$837 million
Three months ended April 24, 2026; up 15.6% reported, 8.7% organic
FY 2026 net sales
$3.102 billion
Fiscal year ended April 24, 2026; up 14.2% reported, 8.0% organic
FY 2026 net loss attributable to the company
$331 million
Fiscal year ended April 24, 2026; vs $213 million prior year
FY 2026 basic and diluted loss per share
$1.29 per share
Fiscal year ended April 24, 2026; based on 256.6 million shares
FY 2026 CGM revenue
$1.553 billion
Fiscal year ended April 24, 2026; 18.2% year-over-year growth
FY 2026 pump revenue
$546 million
Fiscal year ended April 24, 2026; 1.0% year-over-year growth
FY 2027 organic growth outlook
Approximately 10%
Fiscal year ending April 30, 2027; includes 1.0–1.5% extra-week benefit
FY 2027 adjusted EBITDA margin outlook
Approximately 16%
Guidance for fiscal year ending April 30, 2027
Key Terms
Organic Revenue Growth, Adjusted EBITDA margin, CGM Attachment Rate, non-GAAP financial measures, +2 more
6 terms
Organic Revenue Growth financial
"This includes Organic Revenue Growth. We believe that non-GAAP financial measures provide information useful to investors"
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%, which includes a 1.0 to 1.5% expected benefit from the extra week in FY27 •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.
CGM Attachment Rate financial
"Worldwide CGM Attachment Rate of 66%, an increase of 700 bps year-over-year"
non-GAAP financial measures financial
"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."
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.
Italian payback accruals financial
"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"
fully closed loop algorithm technical
"Started U.S. pivotal study for third generation fully closed loop algorithm for type 1 and type 2 diabetes"
Earnings Snapshot
Q4 2026 Net sales: $837 million · Guidance included
Q4 2026 and Fiscal Year 2026
Q4 2026 Net sales
$837 million
15.6% reported growth year-over-year
FY 2026 Net sales
$3.102 billion
14.2% reported growth year-over-year
FY 2026 Net loss attributable to the company
$331 million
Wider than $213 million prior year
FY 2026 Basic and diluted loss per share
$1.29
Higher loss than $0.84 prior year
Guidance
For fiscal 2027, MiniMed expects approximately 10% organic revenue growth, including a 1.0–1.5% benefit from an extra week, and an adjusted EBITDA margin of about 16%.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________
FORM 8-K
_____________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2026
_____________________________
(Exact name of Registrant as Specified in its Charter)
_____________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(763 ) 514-4000
(Registrant’s telephone number, including area code)
| Not Applicable | ||
| Former name or former address, if changed since last report | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition | ||||
On June 3, 2026, MiniMed Group, Inc., a Delaware corporation (the "Company"), issued a press release announcing its financial results and related information for its fourth quarter and full fiscal year 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference in its entirety. The information furnished pursuant to this Item 2.02 and Item 7.01, including Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 7.01. | Regulation FD | ||||
The information set forth under 2.02 is incorporated into this Item 7.01 by reference.
A slide presentation is being posted in advance of the earnings call discussed in the press release to the Investor Relations section of the Company's website, accessible at investors.minimed.com.
| Item 9.01 | Financial Statements and Exhibits | ||||
(d) List of Exhibits
| Exhibit Number | Description | |||||||
| 99.1 | Fourth quarter and fiscal year 2026 earnings press release of MiniMed Group, Inc, dated June 3, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MiniMed Group, Inc | ||||||||||||||||||||
| By | /s/ Chad Spooner | |||||||||||||||||||
Date: June 3, 2026 | Chad Spooner | |||||||||||||||||||
| Executive Vice President and Chief Financial Officer (Principal Financial Officer) | ||||||||||||||||||||
Exhibit 99.1
NEWS RELEASEFOR IMMEDIATE RELEASE
MiniMed Delivers Strong Fourth Quarter and Full Fiscal
Year 2026 Financial Results; Provides Fiscal Year 2027 Outlook
Year 2026 Financial Results; Provides Fiscal Year 2027 Outlook
•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 FlexTM, CE Mark for Instinct, and global launch of MiniMed GoTM Smart MDI
NORTHRIDGE, Calif., June 3, 2026 – 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 MiniMedTM 780G system,” said MiniMed Chief Executive Officer Que Dallara. “Looking ahead, we’re confident that our launches of MiniMed FlexTM and MiniMed GoTM 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 SimpleraTM 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 MiniMedTM 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
1
Fiscal Year 2026 Highlights
•Commercial launches of MiniMedTM 780G system with Instinct sensor and Simplera SyncTM sensor in the U.S.; MiniMed GoTM 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 ViveraTM 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.
2
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 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.
Contacts:
Ryan Weispfenning
Investor Relations
+1-763-505-4626
Janet Cho
Public Relations
+1-818-403-7028
3
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.
4
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.
5
FAQ
How did MiniMed (MMED) perform financially in Q4 fiscal 2026?
MiniMed reported Q4 fiscal 2026 net sales of $837 million, up 15.6% as reported and 8.7% organic year-over-year. The quarter still produced a net loss attributable to the company of $183 million, reflecting ongoing investment and cost pressures.
What were MiniMed (MMED) full-year fiscal 2026 results?
For fiscal 2026, MiniMed generated net sales of $3.102 billion, up 14.2% as reported and 8.0% organic. Net loss attributable to the company was $331 million, compared with $213 million in fiscal 2025, and loss per share was $1.29.
How did MiniMed’s CGM and pump businesses perform in fiscal 2026?
In fiscal 2026, MiniMed’s CGM revenue was $1.553 billion, up 18.2%, while pump revenue was $546 million, up 1.0%. Worldwide CGM attachment reached 66%, and worldwide pump users were approximately 659,000 at year-end.
What is MiniMed’s outlook for fiscal year 2027?
MiniMed expects organic revenue growth of about 10% for fiscal 2027, including a 1.0–1.5% benefit from an extra week, and targets an adjusted EBITDA margin of roughly 16%, indicating a focus on both growth and margin improvement.
How did MiniMed’s U.S. and international segments perform in 2026?
For fiscal 2026, U.S. net sales were $917 million, up 1.5%, while international net sales were $2.185 billion, up 20.6% as reported and 11.2% organic, highlighting stronger growth outside the United States.
What new products and approvals did MiniMed highlight for 2026?
MiniMed highlighted commercial launches of the 780G system with Instinct and Simplera Sync sensors, the MiniMed Go Smart MDI system, and FDA clearances for MiniMed Flex and MiniMed Go, alongside CE Marks expanding indications for the 780G system.