MiniMed Group, Inc. MMED

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

References within this Annual Report to "MiniMed," "we," "our," "us," "management," or the "Company" refer to MiniMed Group, Inc., ("MiniMed") together with its wholly-owned subsidiaries.

We are a scaled global medical technology company that develops, manufactures, and markets a comprehensive suite of solutions for the management of diabetes. Since our founding more than 40 years ago, we have pioneered groundbreaking innovation and served the needs of our customers across the globe in service of our mission to make every day a better day for people with diabetes.

We were the first player in the market to commercialize all parts of an integrated diabetes management system. This allows us to provide a five-star customer experience: an easier and consistent user experience, seamless integration, privacy and security, optimized performance and reliability, and our pioneering and industry-leading dosing algorithm, based on TIR outcomes in real-world data. This differentiated value proposition is designed to solve two key problems for PWD. First, we believe our products deliver superior health outcomes, when measured against EASD and ADA guidelines, by effectively and measurably improving glycemic control compared to other available treatment options and competing products. By enhancing glycemic control, our products can help reduce long-term complications of diabetes, improve longevity and quality of life, and reduce associated costs to health systems. Second, our customer experience reduces or substantially eliminates the burden of diabetes management for users, their families, their caregivers, and their HCPs.

Last close 18.34 2026-10-23
Market cap $5.15B 2026-04-24 share count
52-week range 10.65 - 24.43

Valuation FY2025 figures against the last close

P/S1.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.30

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Rest of World
  • United States
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 Rest of World, FY2025: 2.2B (70.4%) 70% Rest of World United States, FY2025: 917M (29.6%) 30% United States FY2024 Rest of World, FY2024: 1.8B (66.7%) 67% United States, FY2024: 903M (33.3%) 33% FY2023 Rest of World, FY2023: 1.6B (66.3%) 66% United States, FY2023: 833M (33.7%) 34%
Region FY2025FY2024FY2023
Rest of World $2.19B $1.81B $1.64B
United States $917.0M $903.0M $833.0M

As the company reported it, from the “Segment and Geographic Data - Schedule of Net Sales to External Customers by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $3.10B$2.71B$2.47B—
Cost of revenue $1.42B$1.19B$1.03B—
Gross profit $1.68B$1.53B$1.44B—
SG&A $1.18B$1.08B$1.06B—
Operating income -$190.0M-$146.0M-$69.0M—
Pre-tax income -$189.0M-$147.0M-$70.0M—
Income tax $128.0M$52.0M$38.0M—
Net income -$317.0M-$213.0M-$112.0M—
EPS, basic -1.30-0.84-0.44—
EPS, diluted -1.30-0.84-0.44—
Shares, diluted (wtd. avg.) 256.6M252.8M252.8M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $298.0M$11.0M$54.0M$58.0M
Receivables $200.0M$570.0M——
Inventory $341.0M$311.0M——
Total current assets $1.35B$939.0M——
Property, plant and equipment $711.0M$706.0M——
Goodwill $2.26B$2.25B——
Other intangibles $107.0M$132.0M——
Total assets $4.63B$4.20B——
Accounts payable $163.0M$205.0M——
Total current liabilities $702.0M$710.0M——
Total liabilities $1.02B$871.0M——
Retained earnings -$116.0M$0——
Total equity $3.61B$3.33B$3.45B$3.40B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow -$197.0M$140.0M$41.0M—
Depreciation and amortisation $156.0M$143.0M$129.0M—
Stock-based compensation $46.0M$41.0M$38.0M—
Capital expenditure $223.0M$193.0M$148.0M—
Investing cash flow -$233.0M-$193.0M-$157.0M—
Financing cash flow $716.0M$10.0M$112.0M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-034021.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B 4B Revenue, FY2023: 2.5B Gross profit, FY2023: 1.4B Net income, FY2023: -112M Revenue, FY2024: 2.7B Gross profit, FY2024: 1.5B Net income, FY2024: -213M Revenue, FY2025: 3.1B Gross profit, FY2025: 1.7B Net income, FY2025: -317M FY2022 FY2023 FY2024 FY2025
Fiscal year FY2022FY2023FY2024FY2025
Revenue — $2.47B $2.71B $3.10B
Gross profit — $1.44B $1.53B $1.68B
Net income — -$112.0M -$213.0M -$317.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Director nominations Dates and mechanics for shareholders proposing directors. Item 5.08
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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