Tandem Diabetes' Q1 Bottom-Line Slide Deeper Into Red Despite Sales Growth
- Tandem Diabetes Care Inc posted Q1 losses of $(0.23) deeper than $(0.08) posted a year ago and missing the consensus of $(0.07).
- Sales increased 25% to $175.91 million, beating the consensus of $168.43 million.
- Worldwide pump shipments increased 11% Y/Y to 28,095.
- The gross margin remained almost unchanged at 52%.
- The company reported an operating loss of $(15.34) million, compared to $(3.24) million.
- Tandem Diabetes ended Q1 with cash and equivalents of $635.4 million.
- Guidance: Tandem expects FY22 revenues of $850 million - $865 million, reflecting Y/Y growth of 21% - 23%, versus the consensus of $846.54 million.
- Earlier, the company estimated sales of $845 million - $860 million.
- It expects gross margin to be 54% and Adjusted EBITDA margin to be 14% - 15%.
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