Makers of insulin delivery systems, Tandem Diabetes Care (NASDAQ:TNDM) and Insulet (NASDAQ:PODD), marked a contrasting stock performance on Thursday as Wall Street reacted to their Q2 2025 results, while their larger rival, Medtronic (MDT), traded flat.
Tandem (NASDAQ:TNDM), which markets the t:slim X2 insulin delivery system, lost ~25% after the company on Thursday in the post-market reported $32.4M of adj. net loss, exceeding Street forecasts by $0.38 and ~5% higher than the prior period, as its gross margin slipped 100 bps to 52%.
However, TNDM’s Q2 revenue exceeded the consensus by $2.3M, reaching $240.7M with ~9% YoY growth as pump shipments in the U.S. and overseas grew to about 21K and 9K, respectively, expanding its U.S. and ex-US sales by ~9% YoY and ~8% YoY.
Looking ahead, the company projected $1B in sales in line with the consensus and 53% - 54% of gross margin compared to 51% in H1 2026.
Additionally, Tandem (NASDAQ:TNDM) announced Thursday a voluntary medical device correction for select t:slim X2 insulin pumps due to a speaker-related error that can potentially end insulin delivery.
As for Insulet (NASDAQ:PODD), maker of the Omnipod insulin pump, its shares added ~10% in reaction to the company’s better-than-expected Q2 financials and guidance raise. The company reported $649.1M in revenue with ~33% YoY growth, exceeding the consensus by $36.8M, as Omnipod revenue from the U.S. and overseas rose 28% YoY and 45% YoY to $453.2M and $185.8M, respectively.
The company’s adjusted operating margin improved 670 bps from the prior year period to 17.8%, and PODD reported $83.7M of adjusted net income, exceeding the consensus of $0.25 per share.
For Q3, Insulet (NASDAQ:PODD) projects 22% - 25% of revenue growth ahead of 18.7% YoY in the consensus, and for 2025, the company raised its growth outlook to 24% - 27% from 19% - 22%, ahead of 21.9% in the consensus.
Medtronic (MDT) is expected to report its Q1 fiscal 2026 results on Aug. 19 in the premarket.
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