Tandem Diabetes Care, Inc. · NASDAQ:TNDM
Tandem Diabetes Care — Q1 2026 Earnings Presentation
16 slides from Tandem Diabetes Care's earnings presentation, Feb 19, 2026
Slide 1: Earnings Q1 2026
Earnings Q1 2026 February 19, 2026 ››› Page 1 © 2025 Tandem Diabetes Care, Inc. All Rights Reserved
Slide 2: Disclaimers & Safe Harbor
Disclaimers & Safe Harbor CAUTIONARY NOTES REGARDING FORWARD LOOKING-STATEMENTS Certain statements in this presentation constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amende
Slide 3: Q1 2026 Results: Record First Quarter Performance
Q1 2026 Results Record First Quarter Performance WW Q1’26 United States International Financials Highlights Highlights Sales of $161M* Sales of $247M* Sales of $86M* Pump shipments of Pump shipments of >19,000* Pump shipments of >29,000* >10,000 Began PAYGO model in Launched direct 55% Gross margin*
Slide 4: First Quarter Performance
First Quarter Performance Q1 Worldwide Shipments ($ in M) Q1 Worldwide Sales 28,000 29,000 $300 30,000 25,000 $234 $247 25,000 $193 20,000 $200 +5%1 15,000 10,000 +3% $100 5,000 0 $0 Q1'24 Q1'25 Q1'26 Q1'24 Q1'25 Q1'26 Q1 Gross Margin Q1 Adjusted EBITDA2 80% 5% -7% -34% 1% 60% 51% 55% -5% 50% +4.8pt
Slide 5: PayGo: Enhanced Benefit & Value Creation
PayGo: Enhanced Benefit & Value Creation Payors benefit from Healthcare Providers improved member benefit from streamlined outcomes with prescription process enhanced data visibility Pharmacy Channel PayGo reimbursement structure Customers benefit from lower out of pocket cost Manufacturers receive
Slide 6: U.S. PayGo Transition Assumptions Intact
U.S. PayGo Transition Assumptions Intact STRENGTHENING OUR BUSINESS MODEL & CREATING LONG-TERM VALUE 2026 U.S. MODELING ASSUMPTIONS DME Pharmacy No updates to modeling assumptions provided in February 2026 ~$4,000 $0 Pump ASP Upfront Began moving to PayGo pharmacy Upfront payment payment reimburseme
Slide 7: International Direct Transition Assumptions
International Direct Transition Assumptions ENHANCING PRESCRIBER RELATIONSHIPS WHILE IMPROVING PRICE AND MARGINS Transition to direct commercial operations timeline 2026 INTERNATIONAL MODELING ASSUMPTIONS • Q1’26 – Direct sales began in UK, Switzerland and Blended Pricing in $USD Austria • Plan to c
Slide 8: 2026 Guidance
2026 Guidance REAFFIRMING 2026 GUIDANCE1 2026 Q2’26 Worldwide Sales $1.065B - $1.085B ~$255M U.S. Shipments 94K - 95K - U.S. Sales $730M - $745M ~$175M (PayGo Assumption) (Includes $70M - $80M Headwind) International Sales $335M - $340M ~$80M (Direct Transition Assumption) (Includes $15M Headwind) G
Slide 9: Longer-Term Assumptions
Longer-Term Assumptions DRIVING TO SUSTAINED DOUBLE-DIGIT GROWTH & PROFITABILITY U.S. Sales & Channel Mix Profitability Goals International Timing to be informed by pace of 2026 (2-3 years) U.S. pharmacy transition ~80% of pump shipments through ASPs are anticipated to pharmacy be at least 30% highe
Slide 10: Appendix: Sales Data and GAAP Reconciliations
Appendix Sales Data and GAAP Reconciliations February 19, 2026 ››› Page 10 © 2025 Tandem Diabetes Care, Inc. All Rights Reserved
Slide 11: Sales by Geography and Product, Adjusted EBITDA Trends & Non-GAAP Financial Measures
Sales by Geography and Product, Adjusted EBITDA Trends & Non-GAAP Financial Measures QUARTERLY AND ANNUAL SALES INFORMATION The financial data presented in the following slides has been derived from our audited consolidated financial statements. The financial data presented in the tables for the qua
Slide 12: Sales by Geography and Product
Sales by Geography and Product Sales in the US - by Product: ($ in thousands) Quarter Ended Year Ended Quarter Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025 March 31, 2026 Pump $ 72,141 $ 85,467 $ 84,785 $ 111,486 $ 353,879 $ 77,941 Supplies and other 78,4
Slide 13: Adjusted EBITDA Trends
Adjusted EBITDA Trends ($ in thousands) Quarter Ended Year Ended Quarter Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025 March 31, 2026 GAAP net loss $ (130,556) $ (52,400) $ (21,165) $ (589) $ (204,710) $ (20,393) Income tax expense (benefit) 8,467 (5,322)
Slide 14: Reconciliation: GAAP versus Non-GAAP Financial Results
Reconciliation GAAP versus Non-GAAP Financial Results ($'s in thousands) Three Months Ended March 31, 2026 2025 2024 GAAP sales $247,221 $234,422 $191,674 Adjustment for Tandem Choice(1) — — 1,146 Non-GAAP sales $247,221 $234,422 $192,820 GAAP gross profit $136,788 $118,407 $94,672 Adjustment for Ta
Slide 15: Reconciliation: Constant Currency Sales Growth
Reconciliation GAAP Reconciliation of Contant Currency Sales Growth ($'s in thousands) Three Months Ended March 31, % Change Constant 2026 2025 % Change Currency Impact Currency United States: Pump $77,941 $72,141 8% Supplies and other 82,902 78,491 6% Total Sales in the United States $160,843 $150,
Slide 16: Investor Relations
Investor Relations: 858-366-6900 IR@tandemdiabetes.com TRADEMARKS ©2026 Tandem Diabetes Care, Inc. All rights reserved. Tandem Diabetes Care, Tandem Diabetes, Tandem, Tandem Mobi, Tandem Source, t:slim X2, Control-IQ, Control-IQ+ and our logos are trademarks, registered trademarks, and/or the subjec