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Jun 30, 2024
Tandem Diabetes Q2 2024 Earnings Report
Tandem Diabetes' financial performance was driven by strong demand for new technology, particularly Tandem Mobi, resulting in increased sales and market expansion.
Key Takeaways
Tandem Diabetes Care announced its Q2 2024 financial results, reporting a 13% increase in worldwide GAAP sales to $221.9 million. The company also launched Tandem Mobi with Dexcom G7 integration and completed enrollment for a Control-IQ study. Sales guidance for the full year 2024 has been increased.
Worldwide GAAP sales increased 13% to $221.9 million compared to Q2 2023.
More than 20,000 pumps were shipped in the United States, a sequential increase of 33% compared to Q1 2024.
Tandem Mobi with Dexcom G7 CGM sensor integration was launched in the United States.
Enrollment was completed for the Control-IQ pivotal study to support an expanded indication for people with type 2 diabetes.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tandem Diabetes Care updated its 2024 financial guidance, estimating non-GAAP sales of approximately $885 million to $892 million for the full year. Non-GAAP gross margin is estimated to be approximately 51 percent, and adjusted EBITDA margin is expected to be breakeven.
Positive Outlook
- Non-GAAP sales are estimated to be approximately $885 million to $892 million for the full year.
- Sales in the United States are projected to be $640 million to $645 million for the full year.
- Sales outside the United States are expected to be approximately $245 million to $247 million for the full year.
- Non-GAAP gross margin is estimated to be approximately 51 percent for the full year.
- Adjusted EBITDA margin is estimated to be breakeven as a percent of sales for the full year.
Challenges Ahead
- The most directly comparable GAAP financial measures are not accessible on a forward-looking basis.
- There is substantial uncertainty associated with predicting any future adjustments that may be made to the Company’s GAAP financial measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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