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Mar 31, 2020
Tandem Diabetes Q1 2020 Earnings Report
Tandem Diabetes Care reported financial results with sales increasing and gross margin remaining consistent compared to the same period last year. The company provided sales guidance for the second quarter of 2020 and withdrew its financial guidance for the year ending December 31, 2020, due to the COVID-19 pandemic.
Key Takeaways
Tandem Diabetes Care reported a 48% increase in sales to $97.9 million and a gross margin of 51% for the first quarter of 2020. Worldwide pump shipments increased by 18% compared to the same period in 2019. However, due to the COVID-19 pandemic, the company withdrew its full-year financial guidance.
Worldwide pump shipments increased 18 percent to 17,378 pumps.
Sales increased 48 percent to $97.9 million.
Gross margin was 51 percent for both periods.
Adjusted EBITDA improved to 4 percent of sales.
Revenue by Geographic Location
Forward Guidance
For the quarter ending June 30, 2020, sales are estimated to be at least $85 million, including international sales of approximately $10 million. For the year ending December 31, 2020, the Company has withdrawn its financial guidance.
Positive Outlook
- Sales are estimated to be at least $85 million for the quarter ending June 30, 2020.
- International sales are expected to be approximately $10 million for the quarter ending June 30, 2020.
- Company anticipates domestic growth compared to the second quarter of last year.
- Positive customer feedback on t:slim X2 with Control-IQ technology.
- Focus on near term guidance.
Challenges Ahead
- Annual financial guidance for the year ending December 31, 2020 has been withdrawn.
- Unpredictable impact of the current pandemic on business operations.
- Second quarter sales guidance is lower than Q1 2020 sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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