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Tandem Diabetes Care Announces First Quarter 2025 Financial Results
SAN DIEGO--(BUSINESS WIRE)-- Tandem Diabetes Care, Inc. (Nasdaq: TNDM), a global insulin delivery and diabetes technology company, today reported its
About this update from Tandem Diabetes Care, Inc.
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nTandem Diabetes Care, Inc. (Nasdaq: TNDM), a global insulin delivery and diabetes technology company, today reported its financial results for the quarter ended March 31, 2025.\n\nFirst Quarter 2025 Highlights, Financial Results Compared to First Quarter 2024\n\n\nAchieved record first quarter sales with worldwide growth of 22%\n\n\nIncreased pump sales in the United States by 19% on a GAAP basis and 17% on a non-GAAP(1) basis, on strong shipment growth and average selling price improvement\n\n\nDelivered 5 point adjusted EBITDA(1) margin increase\n\n\nApproximately 30% of U.S. lives now covered through pharmacy benefits for Tandem Mobi\n\n\nBenefits of Control-IQ Technology were featured for a fourth time in The New England Journal of Medicine\n\n\n“The strength of our first quarter performance was driven by more than 20% worldwide sales growth, including our highest quarter ever outside the United States,” said John Sheridan, president and chief executive officer. “We are creating new possibilities for people living with diabetes, while delivering record results that align with our 2025 and long-term financial goals for sustained, double-digit sales growth and profitability.”\n\nFirst Quarter 2025 Results Compared to First Quarter 2024\n\n\nSales: Worldwide sales increased to $234.4 million, which included sales outside the United States of $83.8 million. This is compared to worldwide sales of $191.7 million, which included sales of $61.9 million outside the United States.\n\nNon-GAAP sales(1) for the first quarter of 2024 were $192.8 million, which excluded a sales deferral of $1.1 million relating to Tandem Choice.(2)\n\nShipments in the United States grew to more than 17,000 pumps. Shipments outside the United States grew to more than 11,000 pumps.\n\n\n\nGross profit: GAAP gross profit was $118.4 million, compared to $94.7 million. GAAP gross margin was 51%, compared to 49%.\n\nNon-GAAP gross profit(1) for the first quarter of 2024 was $95.8 million and non-GAAP gross margin(1) was 50%.\n\n\n\nOperating loss: GAAP operating loss was $120.9 million, or negative 52% of sales, compared to $41.7 million, or negative 22% of sales.\n\nNon-GAAP operating loss(1) was $34.5 million, compared to $40.5 million. Non-GAAP operating margin(1) was negative 15% of sales, compared to negative 21% of sales.\n\...