Tandem Diabetes Q1 results, guidance

 

• Worldwide pump shipments increased 46 percent to 25,352 pumps from 17,378 pumps

• Sales increased 44 percent to $141.0 million from $97.9 million

• Gross margin improved to 52 percent of sales from 51 percent

• Operating margin improved to negative 2 percent of sales from negative 14 percent of sales

For the year ending December 31, 2021, the Company is updating its financial guidance as follows:

• Sales are estimated to be in the range of $625 million to $640 million, which represents an annual sales growth of 25 percent to 28 percent compared to 2020. The Company’s prior sales guidance for 2021 was estimated to be in the range of $600 million to $615 million.

  • Includes international sales of approximately $125 million to $130 million, which represents an annual sales growth of 50 percent to 56 percent compared to 2020. The Company’s prior international sales guidance for 2021 was estimated to be in the range of $105 million to $110 million.

• Gross margin is estimated to be approximately 55 percent

• Adjusted EBITDA(1) is estimated to be 14 percent to 15 percent of sales

• Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $80 million, which include:

• Approximately $65 million in non-cash, stock-based compensation expense

• Approximately $15 million of depreciation and amortization

• Conference Call

  The Company will hold a conference call and simultaneous webcast today at 4:30pm Eastern Time (1:30pm Pacific Time). The link to the webcast will be available by accessing the Events & Presentations tab in the Investor Center of the Tandem Diabetes Care website at http://investor.tandemdiabetes.com, and will be archived for at least 30 days. To listen to the conference call via phone, please dial 855-427-4396 (U.S./Canada) or 484-756-4261 (International) and use the participant code "8046918."

• https://finance.yahoo.com/news/tandem-diabetes-care-announces-first-200500944.html