Tandem Diabetes Care, Inc. (NASDAQ: TNDM), a global insulin delivery and diabetes technology company, today reported its preliminary, unaudited sales for the fourth quarter and year ended December 31, 2022 and worldwide sales outlook for the year ending December 31, 2023.
In comparing the fourth quarter of 2022 to the same period of 2021:
GAAP sales increased to approximately $221 million from $210 million
Non-GAAP sales increased to approximately $224 million
In comparing the year ended December 31, 2022 to the same period of 2021:
GAAP sales increased to approximately $802 million from $703 million
Non-GAAP sales increased to approximately $805 million
"A record number of Tandem customers renewed in the fourth quarter, which coupled with strong retention rates, is evidence of the high level of satisfaction people experience with our t:slim X2 with Control-IQ technology," said John Sheridan, president and chief executive officer. "We remain focused on driving growth by bringing the benefits of our current and future technology to more people living with diabetes, and through our scaling renewal opportunities, as we work to deliver outstanding service to our 420,000 customers worldwide."
2023 Worldwide Sales Outlook
For 2023, worldwide non-GAAP sales are estimated to be an increase of 11 to 12 percent over 2022. This growth outlook does not include sales from anticipated new product launches, such as the Mobi Insulin Pump, which is currently under review by the United States Food and Drug Administration.
The Company will provide its fourth quarter and full year 2022 financial results, and further details related to its 2023 financial expectations, on Wednesday, February 22, 2023 after the close of market.
https://finance.yahoo.com/news/tandem-diabetes-care-reports-preliminary-210500755.html
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