Business
Tandem Diabetes Care Announces Third Quarter 2021 Financial Results and Updated Full Year 2021 Sales Guidance
Virtual R&D Day Scheduled for December 6, 2021 SAN DIEGO--(BUSINESS WIRE)-- Tandem Diabetes Care, Inc. (NASDAQ: TNDM), a leading insulin delivery and
About this update from Tandem Diabetes Care, Inc.
[{"type":"text","content":"\nVirtual R&D Day Scheduled for December 6, 2021\n\n SAN DIEGO--(BUSINESS WIRE)--\nTandem Diabetes Care, Inc. (NASDAQ: TNDM), a leading insulin delivery and diabetes technology company, today reported its financial results for the quarter ended September 30, 2021 and updated its sales guidance for the year ending December 31, 2021.\n\nThird Quarter 2021 Highlights\n\nIn comparing the third quarter of 2021 to the same period of 2020:\n\n\nWorldwide pump shipments increased 43 percent to 31,558 pumps from 22,021 pumps\n\n\nSales increased 45 percent to $179.6 million from $123.6 million\n\n\nGross margin improved to 54 percent of sales from 53 percent of sales\n\n\nOperating margin improved to 4 percent of sales from negative 1 percent of sales\n\n\n“We delivered a strong third-quarter performance in a difficult environment and continue to add new customers worldwide at an incredible rate,” said John Sheridan, president and chief executive officer. “Our domestic sales force expansion, scaling international launch of Control-IQ technology and depth of our new product pipeline has us well-positioned to drive growth in 2022 and beyond, while delivering upon our mission to provide people a positively different experience in diabetes care.”\n\nThird Quarter 2021 Financial Results\n\nDomestic pump shipments increased 10 percent to 20,296 pumps in the third quarter of 2021 from 18,380 pumps in the same period of 2020. Domestic sales were $133.1 million, an increase of 24 percent compared to $107.5 million in the third quarter of 2020. International pump shipments increased 209 percent to 11,262 pumps in the third quarter of 2021 from 3,641 pumps in the same period of 2020. International sales were $46.5 million, an increase of 189 percent compared to $16.1 million in the third quarter of 2020.\n\nGross profit for the third quarter of 2021 increased 48 percent to $96.7 million, compared to $65.3 million for the same period of 2020. Gross margin increased to 54 percent in the third quarter of 2021 from 53 percent in the same period of 2020.\n\nFor the third quarter of 2021, operating expenses totaled $89.0 million, compared to $66.3 million for the same period of 2020. Operating income totaled $7.7 million, compared to an operating loss of $1.0 million for the same period of 2020. Operating margin for the third quarter of 2021 was 4 percen...