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Sep 30, 2022
Tandem Diabetes Q3 2022 Earnings Report
Tandem Diabetes' financial results were reported, showing a mix of growth and increased caution in guidance.
Key Takeaways
Tandem Diabetes Care reported a 14% increase in worldwide sales, reaching $204.5 million. The installed base grew by 35% to over 400,000 customers. However, the company is factoring greater caution into its guidance due to a highly variable environment and the timing of potential new product introductions.
Worldwide installed base increased 35% to more than 400,000 customers.
Worldwide sales increased 14% to $204.5 million.
Sales outside the United States increased 26% to $58.5 million.
Submitted a 510(k) pre-market notification to the U.S. Food and Drug Administration for the Mobi Insulin Delivery System.
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, Tandem Diabetes Care updated its financial guidance, estimating non-GAAP sales to be in the range of $800 million to $805 million, representing an annual sales growth of 14% to 15% compared to 2021. Non-GAAP gross margin is estimated to be approximately 52%, and adjusted EBITDA margin is estimated to be approximately 7% to 8% of sales.
Positive Outlook
- Non-GAAP sales are estimated to be in the range of $800 million to $805 million, representing an annual sales growth of 14% to 15% compared to 2021.
- Non-GAAP gross margin is estimated to be approximately 52%.
- Adjusted EBITDA margin is estimated to be approximately 7% to 8% of sales.
- Sales inside the United States of approximately $592 million to $595 million.
- Sales outside the United States of approximately $208 million to $210 million.
Challenges Ahead
- The Company’s prior sales guidance for 2022 was estimated to be in the range of $835 million to $845 million.
- Prior sales guidance inside the United States was $620 million to $625 million.
- Prior sales guidance outside the United States was $215 million to $220 million.
- Prior adjusted EBITDA margin was 11% 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.