Tandem Diabetes Care ( (TNDM) ) has released its Q3 earnings. Here is a breakdown of the information Tandem Diabetes Care presented to its investors.
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Tandem Diabetes Care is a global company specializing in insulin delivery and diabetes technology, known for its advanced automated insulin delivery systems, including the Tandem Mobi and t:slim X2 pumps with Control-IQ technology. In its third quarter of 2024, Tandem Diabetes Care reported significant financial growth, with worldwide GAAP sales rising 31 percent to $244 million and non-GAAP sales increasing by 25 percent. The company also saw a notable increase in pump shipments, exceeding 25 percent growth, and achieved positive Adjusted EBITDA and free cash flow. Key financial highlights include GAAP gross profit of $124.7 million and an operating loss of $26.1 million, with net loss reducing to $23.3 million from $33 million the previous year. Tandem Diabetes Care anticipates continued growth with increased sales guidance for 2024, projecting non-GAAP sales between $903 million and $910 million, with a focus on maintaining a 51 percent gross margin. The management remains optimistic about achieving its strategic goals for the year, continuing its mission to enhance the lives of people with diabetes.
