Earnings summaries and quarterly performance for TANDEM DIABETES CARE.
Executive leadership at TANDEM DIABETES CARE.
John Sheridan
Detailed
President and Chief Executive Officer
CEO
EG
Elizabeth Gasser
Detailed
Executive Vice President and Chief Strategy and Product Officer
JK
Jean-Claude Kyrillos
Detailed
Executive Vice President and Chief Operating Officer
LV
Leigh Vosseller
Detailed
Executive Vice President, Chief Financial Officer and Treasurer
MN
Mark Novara
Detailed
Executive Vice President and Chief Commercial Officer
RC
Rick Carpenter
Detailed
Chief Technical Officer
SH
Shannon Hansen
Detailed
Executive Vice President, Chief Legal, Privacy & Compliance Officer and Secretary
SM
Susan Morrison
Detailed
Executive Vice President and Chief Administrative Officer
Board of directors at TANDEM DIABETES CARE.
Research analysts who have asked questions during TANDEM DIABETES CARE earnings calls.
Joanne Wuensch
Citigroup Inc.
5 questions for TNDM
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Wells Fargo & Company
5 questions for TNDM
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Leerink Partners
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TD Cowen
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Nephron Research LLC
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Wells Fargo
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Morgan Stanley
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Goldman Sachs
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Recent press releases and 8-K filings for TNDM.
Tandem Diabetes Care Details Strategic Shift to PAYGO Model, Product Pipeline, and Growth Outlook
TNDM
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Tandem Diabetes Care is transitioning to a PAYGO model through the pharmacy channel, which is expected to double reimbursement for the 4-year product life compared to DME, significantly improving revenue and profitability.
- For 2026, the company guides for 10%-11% growth in pumps shipped, with 20% of pumps and 10% of supplies expected to go through the pharmacy channel.
- Key product developments include the planned Q2 2026 filing and H2 2026 commercialization of Tubeless Mobi, an extended-wear patch pump, and the initiation of pivotal clinical studies in 2026 for a fully closed-loop algorithm with expected commercialization in late 2027 or early 2028.
- The company anticipates continued double-digit growth and aims for 65% gross margin and 25%+ operating margin, driven by the PAYGO model and product innovation.
2 days ago
Tandem Diabetes Care Discusses 2025 Transformation, PAYGO Model, and Future Growth at TD Cowen Conference
TNDM
Product Launch
New Projects/Investments
Guidance Update
- Tandem Diabetes Care implemented a strategy in 2024 focusing on sales force monetization, new innovative products, and market access through the pharmacy channel, with significant results seen in 2025, including the introduction of Control-IQ+, FreeStyle Libre 3 on t:slim, and Android for Mobi.
- The company began executing a PAYGO model in late 2025 through the pharmacy channel, which is expected to double reimbursement over the four-year product life and substantially increase revenue and profitability. Under this model, the pump costs $0 for the patient, with supplies costing approximately $350 a month.
- For 2026, Tandem guides for 10%-11% growth in pumps shipped, with expectations that 20% of pumps and 10% of supplies will be distributed via the pharmacy channel.
- Key product developments include the planned launch of tubeless Mobi in the second half of 2026, which will be the first extended wear patch pump, and the initiation of pivotal clinical studies for a fully closed-loop algorithm in 2026, with commercialization anticipated in late 2027 or early 2028.
- Tandem expects to achieve double-digit growth and has set objectives for a 65% gross margin and a 25% operating margin, with the PAYGO model expected to accelerate these financial targets.
2 days ago
Tandem Diabetes Outlines 2026 Strategy and Product Pipeline
TNDM
Guidance Update
Product Launch
New Projects/Investments
- Tandem Diabetes is undergoing a significant strategic shift to a PAYGO model through the pharmacy channel, which is expected to double reimbursement over the product's life and drive double-digit growth in revenue and profitability, targeting 65% gross margin and 25%+ operating margin.
- For 2026, the company projects 10%-11% pumps shipped growth, with 20% of pumps and 10% of supplies expected to go through the pharmacy channel, covering one-third of U.S. lives.
- Key product innovations include the 2025 launch of Control-IQ+, FreeStyle Libre 3 on t:slim, and Android for Mobi. The company plans to file for tubeless Mobi (with 7-day SteadiSet technology) in Q2 2026 for H2 2026 commercialization, and will initiate a pivotal study for a fully closed loop algorithm in 2026, aiming for late 2027/early 2028 commercialization.
- The company also enhanced its sales force productivity and expanded direct operations in OUS countries in 2025, while actively building pharmacy channel relationships, currently having 80% of lives under PBM coverage and one-third under formulary.
2 days ago
Tandem Diabetes Care Announces Proposed Convertible Notes Offering
TNDM
Debt Issuance
New Projects/Investments
- Tandem Diabetes Care announced a proposed private placement of Convertible Senior Notes due 2032.
- The offering is for $200.0 million aggregate principal amount, with an option for initial purchasers to buy an additional $30.0 million principal amount of notes.
- The interest rate, initial conversion rate, and other terms of the notes will be determined at the time of pricing of the offering.
- Net proceeds are expected to be used to pay for capped call transactions and for general corporate purposes, which may include acquisitions or strategic investments.
7 days ago
Tandem Diabetes Care Discusses Q4 2025 Performance, Strategic Shifts, and 2026 Outlook
TNDM
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Tandem Diabetes Care reported a record gross margin of 58% in Q4 2025, primarily driven by pricing and increased Mobi volume.
- The company is strategically shifting to a pharmacy channel pay-as-you-go model, which is projected to yield 4x higher supply reimbursement over the product's life compared to DME, despite an expected $70 million-$80 million headwind in 2026. This move is anticipated to drive long-term revenue and margin growth.
- Tandem forecasts 10%-11% pump shipment growth for 2026, bolstered by new product introductions such as the tubeless Mobi feature ("Toby") slated for H2 2026, and expansion into the Type 2 market.
- International direct sales expansion began in Q1 2026 in Switzerland, Austria, and the UK, with an expected ASP uplift of at least 30%.
8 days ago
Tandem Diabetes Care Discusses Q4 2025 Performance, OUS Expansion, and US Pharmacy Strategy
TNDM
Product Launch
Guidance Update
Revenue Acceleration/Inflection
- Tandem Diabetes Care achieved record sales, shipments, and a gross margin of 58% in Q4 2025, driven by pricing and increased Mobi volume.
- The company is expanding its Out-of-US (OUS) direct sales, expecting an ASP uplift of at least 30% per market, with direct sales projected to be 15% of total sales in 2026 despite an estimated $15 million headwind in 2026 from the transition.
- In the US, Tandem is shifting to a pay-as-you-go pharmacy channel model, which is expected to result in two times higher reimbursement over a four-year patient life compared to DME, with pharmacy supplies being more than four times higher monthly.
- This pharmacy transition will create a $70 million-$80 million headwind in 2026 as 20% of pumps are expected to go through pharmacy, tempering revenue growth in the short term but accelerating it in 2027 and beyond.
- New product launches, including Mobi with Android, FreeStyle Libre 3 with t:slim, Dexcom 15-day technology, and the planned Q2 2026 FDA submission and H2 2026 launch of "Toby" (tubeless Mobi), are expected to drive 10%-11% pump shipment growth in the US for 2026.
8 days ago
Tandem Diabetes Care Highlights Q4 2025 Performance and Outlines 2026 Strategic Initiatives
TNDM
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Tandem Diabetes Care reported a strong Q4 2025, achieving record sales, shipments, and a gross margin of 58%, driven by its commercial transformation, new product launches, and the strategic shift of t:slim X2 supplies into the pharmacy channel.
- The company is transitioning to a pay-as-you-go model in the U.S. pharmacy channel, anticipating a $70 million-$80 million revenue headwind in 2026 but projecting two times higher overall reimbursement over four years and four times higher supply reimbursement compared to the DME channel.
- For 2026, Tandem forecasts 10%-11% year-over-year pump shipment growth, with 20% of pumps shipped and 10% of the existing install base expected to utilize the pharmacy channel for supplies. Pharmacy sales are projected to comprise 70% or more of U.S. sales within 2-3 years.
- Key product developments include the recent launch of Mobi with Android and upcoming Dexcom 15-day technology in the US, alongside plans for a Q2 2026 FDA submission for "Toby" (tubeless Mobi) with a targeted H2 2026 launch.
- Internationally, Tandem expanded its direct sales model to Switzerland, Austria, and the U.K. in Q1 2026, expecting an ASP uplift of at least 30% in these markets.
8 days ago
Tandem Diabetes Care Prices Upsized Convertible Senior Notes Offering
TNDM
Debt Issuance
Convertible Preferred Issuance
New Projects/Investments
- Tandem Diabetes Care priced an upsized private placement of $265.0 million in 0.00% Convertible Senior Notes due 2032, with an option for initial purchasers to buy an additional $35.0 million.
- The estimated net proceeds of approximately $256.7 million (or $290.7 million if the option is fully exercised) will be used for capped call transactions and general corporate purposes, including potential acquisitions or strategic investments.
- The notes have an initial conversion price of approximately $36.99 per share, representing a 37.5% premium over the last reported sale price of $26.90 per share on February 24, 2026.
- To offset dilution, Tandem entered into capped call transactions with an initial cap price of $47.075, which is a 75.0% premium over the February 24, 2026, stock price.
Feb 25, 2026, 5:30 AM
Tandem Diabetes Care Exceeds $1 Billion in 2025 Sales, Guides for 2026 Amid Business Model Transformation
TNDM
Earnings
Guidance Update
Product Launch
- Tandem Diabetes Care achieved over $1 billion in worldwide sales in 2025, marking its second consecutive year of double-digit sales growth at 12%. The company also reported record Q4 worldwide sales of $290 million, a 15% year-over-year increase, and its highest quarterly gross margin ever at 58%.
- The company is implementing significant business model changes in 2026, including a transition to a pay-as-you-go reimbursement model in the U.S. pharmacy channel and direct international operations, which are expected to result in $85 million-$95 million in sales headwinds. Consequently, worldwide sales for 2026 are projected to be between $1.065 billion and $1.085 billion.
- Despite near-term revenue moderation, Tandem anticipates gross margin for 2026 to be 56%-57%, scaling from nearly 54% in Q1 to 60% in Q4, with full-year adjusted EBITDA at 5%-6%. Adjusted EBITDA is expected to be negative in Q1 2026 before becoming positive in Q2.
- Key product launches planned for 2026 include a scaled international launch of Mobi, Mobi integration with FreeStyle Libre 3 Plus in the U.S., and Dexcom's 15-day sensor integration globally in Q2. The company also plans to file for Mobi Tubeless in Q2 2026 for a launch in the second half of the year.
Feb 19, 2026, 9:30 PM
Tandem Diabetes Care Announces Q4 and Full Year 2025 Results and 2026 Guidance
TNDM
Earnings
Guidance Update
Product Launch
- Tandem Diabetes Care reported record sales of $290 million for Q4 2025 and surpassed $1 billion in sales for the full year 2025. The company achieved a 58% gross margin in Q4 2025 and 54% for the full year 2025, with Q4 Adjusted EBITDA at 11%.
- Key strategic milestones in Q4 2025 included the launch of t:slim X2 with Abbott's FreeStyle Libre 3 Plus CGM and the initiation of the Android mobile control launch for Tandem Mobi.
- For 2026, the company provided guidance for worldwide sales between $1.065 billion and $1.085 billion, with anticipated double-digit worldwide pump shipment growth. U.S. pump shipments are projected to be 94,000 to 95,000, representing 10% - 11% growth.
- The company expects a gross margin of 56% - 57% and Adjusted EBITDA of 5% - 6% for 2026. These projections include a $70 million to $80 million U.S. sales pricing headwind due to PayGo model adoption and a $15 million international sales impact from destocking and inventory buyback as it transitions to direct commercial operations in select European countries.
Feb 19, 2026, 9:30 PM
Quarterly earnings call transcripts for TANDEM DIABETES CARE.
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