Tandem Diabetes Care, Inc. (TNDM) is a medical device company specializing in the design, development, and commercialization of innovative technology solutions for diabetes management. The company primarily serves individuals with type 1 diabetes and is expanding its offerings to include those with type 2 diabetes requiring intensive insulin therapy. Tandem's product portfolio includes advanced insulin pumps, automated insulin delivery systems, and related consumables, all designed to improve glycemic control and enhance the quality of life for users.
- Supplies and Other - Provides disposable insulin cartridges, infusion sets, and other consumables used with Tandem's insulin pumps, ensuring recurring revenue and continuous support for users.
- Insulin Pumps - Designs and sells durable insulin pumps, including the flagship t:slim X2 and the Tandem Mobi, which integrate with continuous glucose monitoring (CGM) systems and feature advanced automated insulin delivery (AID) technology.
- t:slim X2 Insulin Pump - Offers remote software updates, CGM integration, and AID capabilities to optimize insulin delivery.
- Tandem Mobi Insulin Pump - The world’s smallest durable AID system, featuring mobile app control, inductive charging, and on-pump bolusing for enhanced discretion and flexibility.
- Control-IQ Technology - Provides an advanced hybrid-closed loop system that integrates with CGM sensors to automatically adjust insulin delivery and improve glycemic outcomes.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John Sheridan ExecutiveBoard | President, CEO, and Director | Director at Acutus Medical, Inc. | John Sheridan joined TNDM in April 2013 and became CEO in March 2019. He has led the company to record sales and product innovations. | View Report → |
Elizabeth Gasser Executive | Executive Vice President and Chief Strategy and Product Officer | N/A | Elizabeth Gasser joined TNDM in June 2021. She oversees strategy, corporate development, and product management, contributing to the company's growth and innovation. | |
James Leal Executive | Chief Manufacturing Officer | N/A | James Leal joined TNDM in October 2010. He has been instrumental in overseeing manufacturing and operations, contributing to the company's growth. | |
Jean-Claude Kyrillos Executive | Executive Vice President and Chief Operating Officer | Independent Board Director at San Diego Blood Bank | Jean-Claude Kyrillos joined TNDM in June 2024. He has deep experience in healthcare, previously holding leadership roles at Envista Holdings and Qualcomm Life. | |
Leigh Vosseller Executive | Executive Vice President, CFO, and Treasurer | Director at Girls Inc. of San Diego | Leigh Vosseller joined TNDM in 2013 and became CFO in June 2018. She has a strong background in finance and has held leadership roles at Genoptix and Biosite. | |
Mark Novara Executive | Executive Vice President and Chief Commercial Officer | N/A | Mark Novara joined TNDM in November 2023. He has extensive experience in medical devices and pharmaceuticals, previously working at McKinsey & Company and Becton Dickinson. | |
Rick Carpenter Executive | Chief Technical Officer | N/A | Rick Carpenter joined TNDM in November 2021. He oversees technical operations, leveraging his experience from Inseego Corporation and Capsule Technologies. | |
Shannon Hansen Executive | Executive Vice President, Chief Legal, Privacy & Compliance Officer, and Secretary | Independent External Audit and Supervisory Board Member at PHC Holdings Corporation | Shannon Hansen joined TNDM in January 2022. She oversees legal, compliance, and privacy functions, with previous roles at Alto Pharmacy and Abbott. | |
Susan Morrison Executive | Executive Vice President and Chief Administrative Officer | N/A | Susan Morrison joined TNDM in November 2007 and has held various leadership roles. She oversees investor relations, corporate communications, and human resources. | |
Christopher Twomey Board | Board Member | Chair of the Audit Committee at Bionano Genomics | Christopher Twomey has been a board member since July 2013. He has extensive experience in financial management and auditing, serving as Chair of the Audit Committee at Tandem and Bionano Genomics. | |
Dick Allen Board | Board Member | Involved with JDRF and Mary & Dick Allen Diabetes Center | Dick Allen has been a board member since July 2007. He has over 50 years of experience in healthcare and has been actively involved in the diabetes community. | |
Joao Malagueira Board | Board Member | President for three divisions at Hologic | Joao Malagueira joined the board in June 2022. He has over 25 years of experience in diabetes and medical devices, with a focus on global strategies. | |
Kathleen McGroddy-Goetz Board | Board Member | N/A | Kathleen McGroddy-Goetz joined the board in June 2020. She has over 25 years of experience in commercializing technologies in healthcare and life sciences. | |
Myoungil Cha Board | Board Member | Chief Product Officer at Verily | Myoungil Cha joined the board in June 2022. He has extensive experience in healthcare and consumer technology, previously working at Carbon Health and Apple. | |
Peyton Howell Board | Board Member | CEO and Board Member at Parexel International; Chairperson of ACRO | Peyton Howell joined the board in August 2020. She has over 30 years of experience in healthcare, with expertise in reimbursement and patient access. | |
Rebecca Robertson Board | Chair of the Board of Directors | Founder and General Partner at Versant Ventures | Rebecca Robertson has been a board member since January 2019 and Chair since March 2023. She provides strategic direction with her extensive experience in medical technology. |
- Given the potential for tariffs affecting components sourced from Asia, how are you mitigating supply chain risks, and what specific contingency plans do you have to address possible cost increases or disruptions?
- With new pump introductions previously causing market pauses, what strategies are you implementing to ensure that your latest products accelerate adoption without further disrupting market growth?
- As competitors offer type 2 diabetes indications and given the underpenetrated insulin-intensive type 2 market, how do you plan to capture significant market share upon FDA approval, and what impact do you expect this to have on your growth in the next few years?
- Can you provide more clarity on how transitioning to the pharmacy channel will affect your pricing and margins, especially in comparison to competitors who price at a premium in this channel?
- Considering the gross margin pressures from the Mobi launch, how confident are you in meeting your 2025 margin objectives, and what specific measures are you taking to ensure Mobi becomes accretive to margins as anticipated?
Research analysts who have asked questions during TANDEM DIABETES CARE earnings calls.
Danielle Antalffy
UBS Group AG
4 questions for TNDM
Jayson Bedford
Raymond James
4 questions for TNDM
Christopher Pasquale
Nephron Research
3 questions for TNDM
David Roman
Goldman Sachs Group Inc.
3 questions for TNDM
Jeffrey Johnson
Robert W. Baird & Co. Inc.
3 questions for TNDM
Joanne Wuensch
Citigroup Inc.
3 questions for TNDM
Joshua Jennings
TD Cowen
3 questions for TNDM
Larry Biegelsen
Wells Fargo & Company
3 questions for TNDM
Mathew Blackman
Stifel
3 questions for TNDM
Matthew Miksic
Barclays PLC
3 questions for TNDM
Matthew O'Brien
Piper Sandler & Co.
3 questions for TNDM
Matthew Taylor
Jefferies
3 questions for TNDM
Michael Kratky
Leerink Partners
3 questions for TNDM
Michael Polark
Wolfe Research
3 questions for TNDM
Shagun Singh Chadha
RBC Capital Markets
3 questions for TNDM
Steven Lichtman
Oppenheimer & Co. Inc.
3 questions for TNDM
Travis Steed
Bank of America
3 questions for TNDM
William Plovanic
Canaccord Genuity
3 questions for TNDM
Anthony Petrone
Mizuho Group
2 questions for TNDM
Brooks O'Neil
Lake Street Capital Markets
2 questions for TNDM
Issie Kirby
Redburn Atlantic
2 questions for TNDM
Aaron Wukmir
Lake Street Capital Markets
1 question for TNDM
Bill Plovanic
Canaccord Genuity
1 question for TNDM
Bill Plovanic
Canaccord Genuity - Global Capital Markets
1 question for TNDM
Brett Gasaway
Leerink Partners
1 question for TNDM
Brian
TD Cowen
1 question for TNDM
Carol Wong
Nephron Research LLC
1 question for TNDM
Felipe Lamar
Truist Securities
1 question for TNDM
Lawrence Biegelsen
Wells Fargo
1 question for TNDM
Matt Miksic
Barclays Investment Bank
1 question for TNDM
Matt Taylor
Jefferies & Company Inc.
1 question for TNDM
Patrick Wood
Morgan Stanley
1 question for TNDM
Philip Coover
Goldman Sachs
1 question for TNDM
Shagun Singh
RBC Capital Markets
1 question for TNDM
Stephanie Piazzolla
Bank of America
1 question for TNDM
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
A major competitor in the insulin delivery device market, which includes insulin pumps and related technologies. The company is noted for its market acceptance and competitive pricing strategies. | |
A leading competitor in the medical device industry, particularly in insulin delivery systems. The company benefits from established relationships with healthcare providers and a strong reputation in the diabetes industry. | |
Ypsomed | A competitor in the insulin delivery device market, focusing on insulin pumps and related software applications. |
A collaborator and competitor in the continuous glucose monitoring (CGM) space, providing technology that integrates with insulin pump products. | |
A competitor in the glucose sensor market, offering products that compete with Dexcom CGMs and collaborating on integrated diabetes solutions. | |
Roche Diabetes Care | A competitor involved in patent litigation with Tandem Diabetes Care, alleging infringement related to insulin pump technology. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Distributor A | Independent distributor | All | 2024: $105.3M (11.2%) of total revenue [0][1][3], $12.1M (11.1%) of AR [2][3]. Also 12.2% of revenue in 2023 and 11.6% in 2022 [6]. |
Distributor B | Independent distributor | All | 2023: 10.5% of AR [6]. (Less than 10% in 2024 [3].) |
Distributor C | Independent distributor | All | 2024: 11.8% of AR ($13.5M) [2][3]; less than 10% of revenue [3]. |
Distributor D | Independent distributor | All | 2024: $108.1M (11.5%) of total revenue [0][1][3], $12.4M (11.2%) of AR [2][3]. Also 10.8% of revenue in 2023 and 14.4% in 2022 [6]. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
AMF Medical SA | 2023 | Tandem Diabetes Care's acquisition of AMF Medical SA was completed on January 19, 2023, involving a strategic investment of CHF 8.0 million, a CHF 62.4 million cash payment at closing, and additional contingent earnout payments up to CHF 129.6 million; the deal was structured as an asset acquisition with a $78.8 million charge for IPR&D assets. This move adds the Swiss developer's patch pump technology to Tandem’s portfolio, aligning with their strategic vision to expand into ergonomic, rechargeable patch pump solutions. |
Capillary Biomedical, Inc. | 2022 | Completed on July 21, 2022, this acquisition involved a total cash consideration of $24.7 million, the assumption of $4.7 million in long-term debt, and a $31.0 million charge recorded for IPR&D assets; the transaction was structured as an asset acquisition. It strategically brings in Capillary's extended-wear infusion set technology to further Tandem’s innovation in infusion set solutions, enhancing product development aimed at extended wear and improved user experience. |
Recent press releases and 8-K filings for TNDM.
- Senseonics Holdings, Inc. announced a Memorandum of Understanding to transition all commercialization and distribution of Eversense 365 and future products from Ascensia Diabetes Care to Senseonics, effective January 1, 2026. This move is expected to increase topline revenue and expand margins by eliminating Ascensia revenue sharing.
- Brian Hansen, currently President of CGM at Ascensia, is slated to join Senseonics as Chief Commercial Officer on January 1, 2026.
- The company has expanded its non-dilutive debt facility with Hercules Capital, Inc. up to $100 million to fund the new commercial organization.
- For full-year 2025, Senseonics expects global net revenue to be approximately $34-38 million, with gross margins between 32.5% and 37.5%.
- Senseonics anticipates gross margin expansion to 50% in 2026 and more than 70% at scale by bringing commercial operations in-house.
- The European Medicines Agency (EMA) has validated the Marketing Authorization Application (MAA) for obicetrapib 10 mg monotherapy and 10 mg obicetrapib plus 10 mg ezetimibe fixed-dose combination (FDC), submitted by NewAmsterdam's partner, Menarini, for patients with primary hypercholesterolemia or mixed dyslipidemia.
- The EMA submission is supported by data from the BROADWAY, BROOKLYN, and TANDEM Phase 3 trials, which demonstrated clinically meaningful LDL-C reductions, with a safety and tolerability profile comparable to placebo.
- NewAmsterdam is eligible to receive tiered double-digit percentage royalties ranging from the low double-digits to mid-twenties on net sales in the Menarini Territory, and up to an additional €833 million upon the achievement of various clinical, regulatory, and commercial milestones.
- Tandem Diabetes Care reframed its fiscal year 2025 guidance to $1 billion in sales, at the lower end of its original range, attributing the adjustment to a slower-than-expected realization of benefits from a commercial transformation and the impact of a new competitor's large-scale launch in the US, despite increased expectations for its OUS business.
- The company is expanding its business model by accelerating the shift of t slim supplies into the pharmacy channel starting in Q4 2025 and plans to go direct in certain key international markets beginning in 2026 to optimize revenue growth and margins.
- Tandem expects to be free cash flow positive in the back half of 2025 and aims for a long-term gross margin of 65%, with the Mobi platform and pharmacy channel expansion contributing to achieving this target faster.
- The FDA cleared an extended wear infusion set (up to 7 days), which will launch next year, and the company will also launch Mobi in a patch configuration next year. Tandem received its Type 2 indication in March and is in a pilot launch, with full benefits anticipated in 2026.
- CMS proposals for competitive bidding and a pay-as-you-go model for insulin pumps are not expected to materially impact the company, as traditional Medicare accounts for less than 10% of its business, and any changes are unlikely to take effect before 2027.
- Tandem Diabetes Care, Inc. announced a voluntary medical device correction for select t:slim X2 insulin pumps due to a potential speaker-related issue.
- This issue can trigger a Malfunction 16 alarm, leading to a discontinuation of insulin delivery and termination of communication with the continuous glucose monitoring (CGM) device.
- If unaddressed, this error could result in hyperglycemia, potentially requiring hospitalization or medical intervention.
- There have been 700 confirmed adverse events and 59 reported injuries, with no deaths reported.
- The company sent notices to impacted U.S. customers between July 22 and 24, 2025, and plans to release a software update to enhance early detection of speaker failure and introduce persistent vibration alerts.
- Tandem Diabetes Care, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its SteadiSet™ infusion set on August 6, 2025.
- The SteadiSet is a wearable infusion set designed for up to seven days of use for continuous insulin delivery to patients with type 1 diabetes.
- The company plans to launch SteadiSet as a standalone product for its t:slim X2 and Tandem Mobi pumps, and as a component of its future Tandem Mobi tubeless insulin delivery system.
- Tandem will focus on scaling manufacturing operations and pre-commercial activities in the coming quarters, with financial details to be disclosed in future earnings announcements.
- Robust Q1 performance was highlighted, with the company noting strong growth drivers such as increased MDI starts and improved supply sales that support a positive outlook for 2025.
- The team emphasized innovative product updates including the launch of Tandem Movi, progress on the tubeless option, and early work on SIGI, positioning these developments as key to expanding their market share.
- A strategic shift toward a broader market reach was discussed with a focus on expanding the pharmacy channel and international direct sales initiatives to improve patient access and boost ASPs.
- The discussion also covered margin improvement initiatives, notably reduced manufacturing costs for new products and enhanced pricing benefits, supporting near-term gross margin expansion.
- Expanded Target Market: Tandem Diabetes is broadening its focus by including the Type 2 diabetes segment, effectively more than doubling its served available market in the U.S.
- Innovative Product Pipeline: The company highlighted strong momentum with its Mobi pump, noting its role in driving double-digit growth in MDI conversions, early pharmacy channel traction, and providing a pathway toward achieving a 60% gross margin by 2026 with a long-term goal of 65% gross margins.
- Strategic Market Expansion: Tandem is investing in both U.S. sales force expansion and establishing direct operations in select European markets starting in 2026 to improve customer engagement and margin outcomes.
- On May 21, 2025, the company entered a Settlement, Mutual Release and Cross-License Agreement with Roche to settle patent disputes related to its t:slim X2 pump, involving an aggregate payment of $36 million over five years, starting with an initial payment of $8 million.
- The company held its virtual Annual Meeting of Stockholders, reporting 66.56 million shares outstanding and significant proxy vote results on director elections, executive compensation, and the ratification of Ernst & Young LLP as auditor.
- CE mark approval received for the Tandem Mobi insulin delivery system with Control-IQ+ technology on May 16, 2025.
- The company plans additional regulatory efforts and aims to start EU commercial launches by the end of 2025.
- Record Q1 2025 sales: Achieved overall sales of $234M (22% worldwide growth), including strong U.S. performance with $151M and pump sales up 19% GAAP .
- Improved profitability: Delivered a 51% gross margin with a 5-point boost in adjusted EBITDA margin year-over-year .
- Operating results detail: Reported a GAAP operating loss of approximately $120.9M versus a non-GAAP operating loss of $34.5M .
- Control-IQ+ expansion: The algorithm, now approved for type 2 diabetes, is reaching about 300,000 people and driving MDI conversions .
- Strategic pipeline: Plans include new sensor integrations (FreeStyle Libre 3, Dexcom sensors) and digital health enhancements, targeting up to 60% gross margins .