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Jun 30, 2020
Tandem Diabetes Q2 2020 Earnings Report
Tandem Diabetes Care's Q2 2020 financial results were announced with sales guidance for the year ending December 31, 2020.
Key Takeaways
Tandem Diabetes Care reported a 17% increase in worldwide sales, reaching $109.2 million for the second quarter of 2020. The company successfully completed its first acquisition and executed multiple agreements. They are reinstating the sales guidance they set at the beginning of 2020.
Worldwide sales increased 17% to $109.2 million compared to Q2 2019.
Domestic pump shipments increased 15% to 14,735 pumps.
International pump shipments decreased 53% to 3,952 pumps.
Company is reinstating its sales guidance estimated to be in the range of $450 million to $465 million for the year ending December 31, 2020.
Tandem Diabetes
Tandem Diabetes
Forward Guidance
The Company is reinstating its sales guidance estimated to be in the range of $450 million to $465 million, which includes international sales of approximately $70 million to $75 million for the year ending December 31, 2020.
Positive Outlook
- Continued strong worldwide demand for our t:slim X2 insulin pump.
- Positive feedback from users of our Control-IQ technology
- Scaling international launch
- UnitedHealthcare’s recent decision to include Tandem as a network provider.
- Annual sales growth of 24 percent to 28 percent compared to 2019.
Challenges Ahead
- Being mindful of the unpredictable nature of the current pandemic.
- Market acceptance of the Company’s existing products and products under development by physicians and people with diabetes
- Company’s ability to establish and sustain operations to support international sales, including expansion into additional geographies
- Changes in reimbursement rates or insurance coverage for the Company’s products
- The depth and duration of the evolving COVID-19 pandemic, and the global response thereto