Tandem Diabetes Care Inc

Latest Results (14.08.2024):

Revenue Growth

Tandem Diabetes Care Inc. reported total worldwide revenue of $221.9 million for the second quarter of 2024, compared to $195.9 million in the same quarter of 2023. This represents a significant increase driven by strong performance in the United States and consistent sales outside the United States.

Gross Profit

For the second quarter of 2024, Tandem Diabetes Care Inc. achieved a GAAP gross profit of $112.8 million, up from $101.7 million in the second quarter of 2023. The GAAP gross margin was 51 percent, slightly down from 52 percent in the previous year. Non-GAAP gross profit was $112.7 million, compared to $104.0 million in the same period last year.

Operating Loss

Tandem Diabetes Care Inc. reported a GAAP operating loss of $30.8 million for the second quarter of 2024, an improvement from the $38.8 million loss in the second quarter of 2023. The non-GAAP operating loss was $30.9 million, compared to $22.4 million in the same period last year.

Net Loss

The GAAP net loss for Tandem Diabetes Care Inc. in the second quarter of 2024 was $30.8 million, compared to a net loss of $35.8 million in the second quarter of 2023. On a non-GAAP basis, the net loss was $30.9 million, compared to $19.4 million in the same quarter of the previous year.

Financial Guidance

Tandem Diabetes Care Inc. has updated its financial guidance for the fiscal year ending December 31, 2024. The company now expects non-GAAP sales to be approximately $885 million to $892 million for the full year, with a non-GAAP gross margin estimated to be around 51 percent. Adjusted EBITDA margin is projected to be breakeven as a percent of sales for both the full year and the third quarter.