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Mar 31, 2021
Tandem Diabetes Q1 2021 Earnings Report
Reported financial results for the first quarter of 2021 and updated sales guidance for the year ending December 31, 2021.
Key Takeaways
Tandem Diabetes Care announced a strong start to 2021 with record first-quarter sales, driven by increased pump shipments and international growth. The company updated its full-year sales guidance, reflecting confidence in continued positive momentum.
Worldwide pump shipments increased 46 percent year-over-year to 25,352 pumps.
Sales increased 44 percent year-over-year to $141.0 million.
Gross margin improved to 52 percent from 51 percent year-over-year.
Operating margin improved to negative 2 percent from negative 14 percent year-over-year.
Revenue by Geographic Location
Forward Guidance
The company updated its financial guidance for the year ending December 31, 2021.
Positive Outlook
- Sales are estimated to be in the range of $625 million to $640 million, representing 25% to 28% annual sales growth compared to 2020.
- International sales are projected to be approximately $125 million to $130 million, indicating 50% to 56% annual sales growth compared to 2020.
- Gross margin is estimated to be approximately 55%.
- Adjusted EBITDA is estimated to be 14% to 15% of sales.
- The company's prior sales guidance for 2021 was estimated to be in the range of $600 million to $615 million.
Challenges Ahead
- Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $80 million.
- Approximately $65 million in non-cash, stock-based compensation expense.
- Approximately $15 million of depreciation and amortization.
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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