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Dec 31, 2024
Tandem Diabetes Q4 2024 Earnings Report
Tandem Diabetes Care reported strong financial results for the fourth quarter of 2024, with significant growth in worldwide GAAP sales and pump shipments.
Key Takeaways
Tandem Diabetes Care achieved record sales in Q4 2024, with worldwide GAAP sales growing 44% to $282.6 million and worldwide non-GAAP sales growing 21% to $252.4 million. The company also saw a more than 25% increase in worldwide pump shipments and a return to positive free cash flow for the full year.
Worldwide GAAP sales increased by 44% to $282.6 million in Q4 2024 compared to Q4 2023.
Worldwide non-GAAP sales grew by 21% to $252.4 million in Q4 2024 compared to Q4 2023.
Worldwide pump shipments increased by more than 25% in Q4 2024.
The company achieved a double-digit increase in people converting from multiple daily injections in the United States insulin pump market.
Tandem Diabetes
Tandem Diabetes
Tandem Diabetes Revenue by Segment
Tandem Diabetes Revenue by Geographic Location
Revenue by Segment
Pump Revenue
CapyFin.comSupplies and Other Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comOutside the United States Revenue
CapyFin.com Forward Guidance
For the full year ending December 31, 2025, Tandem Diabetes Care estimates sales to be approximately $997 million to $1.007 billion, with a gross margin of approximately 54% and an Adjusted EBITDA margin of approximately 3%.
Positive Outlook
- Estimated full year 2025 sales of $997 million to $1.007 billion, indicating continued growth.
- Projected full year 2025 gross margin of approximately 54%, suggesting improved profitability.
- Anticipated full year 2025 Adjusted EBITDA margin of approximately 3%, reflecting operational leverage.
- Commitment to delivering sustained profitable growth and funding key commercial investments.
- Expansion of U.S. sales force and commencing pharmacy coverage to drive future growth.
Challenges Ahead
- Estimated first quarter 2025 Adjusted EBITDA margin of negative 6%, indicating a challenging start to the year.
- Sales outside the United States are expected to face a $15 million to $20 million headwind due to preparation for direct commercial operations in select countries.
- Non-cash charges, including stock-based compensation and depreciation/amortization, are estimated to be approximately $115 million for the full year 2025.
- The company is transforming its business, which may involve transitional costs or complexities.
- The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income