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MiniMed Group (MMED) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Sep 8, 2026 · MiniMed Group (MMED) Q2 2026 earnings results →
Q2 2026 Revenue up 17% year over year to $843M · 0¢ of every $1 of revenue kept as net profit · operating margin 0.6%
MiniMed Group made $843M in Q2 2026 (+17% Y/Y): CGM $431M, Consumables $261M, Pumps $144M. Operating margin 0.6%, net earnings $0. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 8, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $843.0M in Q2 2026, up 17% year over year and up 1% from the previous quarter. CGM was the largest line at 51% of revenue. CGM added $71.0M year over year (up 20%), 59% of the total change. Other declined 53%.
Gross margin was 55.2%, down 1.4 points from a year earlier. Operating profit was $5.0M, a 0.6% margin (up 2.4 points year over year). Operating expenses grew 9% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+136%). Net earnings were $0K. The effective tax rate was 100.0%.
Operating cash flow was −$49.0M. Non-cash charges added back $41.0M of depreciation and amortization and $10.0M of share-based compensation. Working capital and other items used $100.0M. Capital expenditures of $41.0M exceeded it, leaving free cash flow of −$90.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Sep 8, 2026 | $843M | +17% | 0.6% | $0 | −$49.0M |
| Q1 2026 | 10-K | Jun 29, 2026 | $837M | +16% | -11.1% | −$185M | −$170M |
| Q1 2026 | 10-Q | Apr 17, 2026 | $790M | +15% | -12.7% | −$111M | — |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About MiniMed Group
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.
In its own words, from its 10-K, filed Jun 29, 2026.
MiniMed Group against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median +5%. Operating margin: 0.6% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MMED MiniMed Group | Q2 2026 | $843M | +17% | 0.6% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: MiniMed Group 10-Q on SEC EDGAR · CIK 2062583 · Surgical & Medical Instruments & Apparatus
13F: who owns MMED and who is buying
More on MMED
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- MiniMed Group next earnings date and what analysts expect
- MiniMed Group stock forecast, price target and fair value
- Who owns MiniMed Group stock: holders, funds and Congress trades
- Is MiniMed Group a takeover target? LBO and rumors
- MiniMed Group recalls, complaints and regulation
History
Every quarter: Q2 2026 results · Q1 2026 results · Q1 2026 results