MiniMed Group (MMED) Q2 2026 earnings summary

Executive summary

• Net sales grew 16.6% year-over-year to $843 million, driven by strong pump, CGM, and consumables sales, with international markets outpacing U.S. growth.

• Gross profit increased 13.5% to $465 million, but gross margin declined 1.5 percentage points to 55.1% due to a higher mix of lower-margin CGM products.

• Net loss was $16 million, a significant improvement from a $19 million loss in the prior year, with Adjusted EBITDA more than doubling to $83 million.

• The company completed its IPO and separation from Medtronic in March 2026, now operating as a standalone public entity.

Financial highlights

• Net sales: $843 million (up 16.6% year-over-year); U.S. sales up 13.1%, international up 18.1%.

• Gross profit: $465 million (up 13.5%); gross margin 55.1% (down from 56.6%).

• Net loss: $16 million, compared to $19 million loss prior year.

• Adjusted EBITDA: $83 million, up from $50 million.

• Cash and cash equivalents: $207 million; no long-term debt outstanding.

Outlook and guidance

• Anticipates continued growth from new product launches, including MiniMed Flex and MiniMed Go, and expanded regulatory approvals.

• Expects ongoing pricing pressure in CGM segment and margin impact from higher CGM sales mix.

• Focused on manufacturing expansion and pipeline investment to support long-term growth.