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Jun 30, 2022
Tandem Diabetes Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022 and updated financial guidance for the year ending December 31, 2022.
Key Takeaways
Tandem Diabetes Care reported a 16% increase in worldwide sales, reaching $200.3 million, driven by growth in both domestic and international markets. The company launched new features for its t:slim X2 insulin pump and progressed in studies for type 2 diabetes and expanded insulin indications.
Worldwide installed base increased 40 percent to more than 375,000 customers.
Sales in the United States increased 14 percent to $145.7 million.
Sales outside the United States increased 23 percent to $54.6 million.
Cash, cash equivalents & short-term investments increased to $635.3 million.
Tandem Diabetes
Tandem Diabetes
Forward Guidance
For the year ending December 31, 2022, the Company is updating its financial guidance as follows:
Positive Outlook
- Sales are estimated to be in the range of $835 million to $845 million, which represents an annual sales growth of 19 percent to 20 percent compared to 2021.
- Sales inside the United States of approximately $620 million to $625 million
- Sales outside the United States of approximately $215 million to $220 million.
- Gross margin is estimated to be approximately 52 percent to 53 percent.
- Adjusted EBITDA is estimated to be approximately 11 percent of sales.
Challenges Ahead
- Sales are estimated to be in the range of $835 million to $845 million, The Company’s prior sales guidance for 2022 was estimated to be in the range of $850 million to $865 million.
- Sales inside the United States of approximately $620 million to $625 million, compared to the prior guidance of $635 million to $645 million.
- Gross margin is estimated to be approximately 52 percent to 53 percent, compared to the prior guidance of 54 percent.
- Adjusted EBITDA is estimated to be approximately 11 percent of sales, compared to the prior guidance of 14 percent to 15 percent of sales.
- Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $100 million, an increase from the Company’s prior guidance.