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Segment and Geographic Data (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Revenue by Geographic Region Based on Delivery Location

Geographic information about revenue, based on customer location, is as follows:

			Three Months Ended March 31,
(in millions)			2025						2024
U.S.			$	416.6					$	326.4
International			152.4						115.3
Total revenue			$	569.0					$	441.7

Schedule of Selected Financial Information for the Company’s Single Operating Segment, Including Significant Expenses

The following table presents selected financial information for the Company’s single operating segment, including significant expenses:

			Three Months Ended March 31,
(in millions)			2025						2024
Total revenue			$	569.0					$	441.7
Materials(1)			78.6						65.5
Factory conversion(2)			46.3						38.9
Depreciation and amortization(3)			4.7						6.1
Other costs of revenue(4)			30.4						24.4
Cost of revenue			160.0						134.9
Labor(5)			147.1						114.9
Outside services(6)			67.0						63.1
Depreciation and amortization			12.9						11.2
Other operating expenses(7)			93.2						60.7
Operating income			88.8						56.9
Interest expense, net			1.1						(1.3)
Loss on extinguishment of debt			(39.5)						—
Other expense, net			(2.3)						(0.7)
Income tax expense			(12.7)						(3.4)
Net income			$	35.4					$	51.5

(1) Consists of raw materials utilized included in cost of revenue.

(2) Consists of manufacturing labor, factory overhead and depreciation of plant and equipment primarily at our Acton manufacturing plant.

(3) Consists of depreciation and amortization included in cost of revenue, except for depreciation of plant and equipment included in factory conversion.

(4) Consists primarily of warranty expense, cost to manufacture Controllers/and Personal Diabetes Managers, provision for inventory reserves, cost of data plans and licensing, and costs to train users.

(5) Consists of labor expenses included in research and development expenses and selling, general and administrative expenses, excluding stock-based compensation expense.

(6) Consists primarily of contract labor and professional and consulting fees.

(7) Consists primarily of advertising expense, license fees, stock-based compensation expense and travel and expenses.

Schedule of Long-lived assets, Net, Excluding Goodwill and Other Intangible Assets by Geographic Area

Geographic information about long-lived assets, net, excluding goodwill and other intangible assets is as follows:

(in millions)			March 31, 2025						December 31, 2024
U.S.			$	471.4					$	475.9
Malaysia			157.8						159.1
China			76.0						78.5
Other			13.5						9.6
Total long-lived assets, net			$	718.7					$	723.1

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
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Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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