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Mar 31, 2022
Tandem Diabetes Q1 2022 Earnings Report
Tandem Diabetes' first quarter performance demonstrated strength across all business areas.
Key Takeaways
Tandem Diabetes Care reported a 25% increase in first-quarter sales to $175.9 million compared to the same period in 2021. Worldwide pump shipments increased by 11% to 28,095 pumps. The company updated its full-year financial guidance, projecting sales between $850 million and $865 million.
First quarter sales increased 25 percent to $175.9 million compared to the same period of 2021.
Worldwide pump shipments increased 11 percent to 28,095 pumps compared to the same period of 2021.
Cash, cash equivalents & short-term investments increased $11.6 million in the first quarter of 2022, reaching $635.4 million as of March 31, 2022.
The company launched Control-IQ® advanced hybrid closed-loop technology in remaining international geographies.
Tandem Diabetes
Tandem Diabetes
Tandem Diabetes Revenue by Segment
Revenue by Segment
Pump Revenue
CapyFin.com Forward Guidance
For the year ending December 31, 2022, the Company is updating its financial guidance as follows:Sales are estimated to be in the range of $850 million to $865 million, which represents an annual sales growth of 21 percent to 23 percent compared to 2021.
Positive Outlook
- Sales are estimated to be in the range of $850 million to $865 million, which represents an annual sales growth of 21 percent to 23 percent compared to 2021.
- Sales inside the United States of approximately $635 million to $645 million, an increase from the prior guidance of $630 million to $640 million
- Sales outside the United States of approximately $215 million to $220 million
- Gross margin is estimated to be approximately 54 percent
- Adjusted EBITDA is estimated to be in the range of 14 percent to 15 percent of sales
Challenges Ahead
- Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $95 million, an increase from the Company’s prior guidance.
- Approximately $80 million non-cash, stock-based compensation expense, compared to the prior guidance of $75 million
- Approximately $15 million depreciation and amortization expense
- Operating loss totaled $15.3 million, or negative 9 percent of sales, compared to $3.2 million, or negative 2 percent of sales.
- Net loss was $14.7 million, compared to $5.0 million.