Tandem Diabetes Care, Inc., a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company’s flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its disposable insulin cartridge, and an infusion set. It also provides t:flex insulin delivery system that includes t:flex pump, its 480-unit disposable insulin cartridge, and an infusion set; and t:slim G4 insulin delivery system, a touch-screen pump with an integrated CGM system. In addition, the company offers Tandem Device Updater, a PC and Mac-compatible Web-based system that allows users to update their pump’s so...
11045 Roselle Street
San Diego, CA 92121
Founded in 2006
Tandem Diabetes Care, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of Fiscal 2018, Full Year Ending December 31, 2018 and Second Half of 2019
Mar 2 18
Tandem Diabetes Care, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net loss of $11,405,000 or $1.23 per basic and diluted share on sales of $40,294,000 against net loss of $14,822,000 or $4.80 per basic and diluted share on sales of $28,912,000 a year ago. Operating loss was $9,582,000 and loss before taxes was $11,397,000 against operating loss was $13,346,000 and loss before taxes was $14,837,000 a year ago. On Non-GAAP basis, sales was $40.0 million, and operating loss was $9.5 million against sales was $24.8 million, and operating loss was $15.7 million a year ago. Sales benefited from a 57% increase in pump shipments compared to the fourth quarter of 2016 and from infusion set sales more than doubling to $8.4 million.
For the full year, the company reported net loss of $73,033,000 or $12.87 per basic and diluted share on sales of $107,601,000 against net loss of $83,447,000 or $27.30 per basic and diluted share on sales of $84,248,000 a year ago. Operating loss was $62,944,000 and loss before taxes was $73,025,000 against operating loss was $78,051,000 and loss before taxes was $83,462,000 a year ago. On Non-GAAP basis, sales was $102.6 million, and operating loss was $66.1 million against sales was $88.5 million, and operating loss was $73.5 million a year ago.
For the year ending December 31, 2018, the company is providing the following guidance on a GAAP basis: sales are estimated to be in the range of $132 million to $140 million, representing a return to strong double-digit growth. The company expects that operating expenses will again grow at a rate of less than 10% in 2018.
For the first quarter of 2018, the company sales are estimated to be 18% to 19% of annual sales. Operating margin is estimated to be in the range of negative 40% to negative 35%, which includes: approximately $4.0 million to $5.0 million in non-cash, stock-based compensation expense and approximately $7.0 million to $8.0 million of depreciation and amortization.
The company is on track to achieve its long-term gross margin goal of 55% at cash breakeven point, which is anticipated in the second half of 2019. The company expects to reach cash flow breakeven in the back half of 2019.
Tandem Diabetes Care, Inc. and Rubin Medical AB Announce Agreement for Distribution of Insulin Pump Products in Scandinavia
Feb 15 18
Tandem Diabetes Care, Inc. announced that it has entered into a distribution agreement with Rubin Medical AB to commercialize Tandem’s t:slim X2™ Insulin Pump, insulin cartridges, and t:lock™ family of Infusion Sets in Sweden, Norway and Denmark. Under the terms of the arrangement Rubin Medical will perform all sales, marketing and customer training and support for Tandem’s products. Timing for availability of Tandem products in Sweden, Norway and Denmark has not been announced.
Tandem Diabetes Care, Inc. Announces Positive Results from Pivotal Study of the t:slim X2 Insulin Pump with Basal-IQ Technology
Feb 15 18
Tandem Diabetes Care, Inc. announced positive results from a pivotal study of the t:slim X2 Insulin Pump with Basal-IQ technology, a predictive low glucose suspend (PLGS) feature. Data showed that the system achieved the primary outcome of reducing time spent in hypoglycemia compared to sensor-augmented pump therapy alone. The t:slim X2 Insulin Pump with Basal-IQ technology utilizes Dexcom G5 Mobile Continuous Glucose Monitoring (CGM) sensor values to suspend insulin delivery when low blood glucose is predicted and automatically resume insulin delivery when glucose levels begin to rise. Use of the system during a 3-week period at home reduced the number of sensor glucose readings below 70 mg/dL by 31% compared to the control period using a standard CGM-integrated t:slim X2 Pump without automated insulin suspension. Importantly, this marked reduction of time spent in low glucose was accomplished without any increase in the rate of hyperglycemia.