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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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