The company now expects full-year revenue of $124 million to $126 million, up from its previous range of $121 million to $126 million, and projects fourth-quarter revenue of $29 million to $31 million. The company also completed a public offering that generated approximately $161. 3 million in net proceeds.
Gross margin was 57. 3%, an increase of 179 basis points from the year-earlier quarter. Management said the quarter’s revenue mix was affected by distributor stocking patterns and expected the mix to normalize in the fourth quarter.
The company received FDA clearance for Mint in September and expects to begin full U.S. Mint is a two-piece patch pump built around reusable and disposable components, with smartphone control, compatibility with specified continuous glucose monitors, a 200-unit insulin reservoir and a three-day wear period plus a 12-hour grace period. The planned launch is expected to use the pharmacy channel, initially reaching about 40% of insured U.S. Lives, with coverage projected to reach at least 50% within the first year. Manufacturing capacity is expected to reach at least 1. 5 million disposable units during 2027.
The launch timing is already affecting near-term demand. Executives said Mint can ship without 3D Intelligence, keeping the pump’s planned launch separate from the algorithm’s regulatory review.
That review changed after discussions with the FDA. Beta Bionics withdrew its 510(k) submission for 3D Intelligence and said it plans to submit a revised application with additional simulator-validation data in the middle of the fourth quarter. The company has also completed enrollment in a pivotal trial studying the iLet in adults with Type 2 diabetes and continues to target a possible mid-2027 expansion of the device’s indications, subject to regulatory clearance.