Tandem Diabetes cuts guidance

 2022 Annual Guidance Update

"In this highly variable environment, we are factoring greater caution into our guidance to re-baseline expectations for the next few quarters," said Leigh Vosseller, executive vice president and chief financial officer. "The timing of our potential new product introductions next year adds increased complexity to the current market dynamics, so we feel it’s prudent for our guidance to reflect more moderate growth in periods between new product launches."

For the year ending December 31, 2022, the Company is updating its financial guidance as follows:

• Non-GAAP sales* are estimated to be in the range of $800 million to $805 million, which represents an annual sales growth of 14 percent to 15 percent compared to 2021. The Company’s prior sales guidance for 2022 was estimated to be in the range of $835 million to $845 million.

  • Sales inside the United States of approximately $592 million to $595 million, compared to the prior guidance of $620 million to $625 million.

  • Sales outside the United States of approximately $208 million to $210 million, compared to the prior guidance of $215 million to $220 million.

• Non-GAAP gross margin* is estimated to be approximately 52 percent, compared to the prior guidance of 52 percent to 53 percent.

• Adjusted EBITDA margin* is estimated to be approximately 7 percent to 8 percent of sales, compared to the prior guidance of 11 percent 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. This includes:

• Approximately $85 million non-cash, stock-based compensation expense.

• Approximately $15 million depreciation and amortization expense.

• https://finance.yahoo.com/news/tandem-diabetes-care-announces-third-200500570.html