Shares in Tandem Diabetes Care (NSDQ:TNDM) fell -3% today after the insulin pump maker topped revenue expectations, but missed earnings estimates on Wall Street with its first-quarter results.
The San Diego, Calif.-based company posted a net loss of -$32.7 million, or -$1.82 per share, on sales of $27.3 million for the 3 months ended March 31, for bottom-line loss of -37% on sales growth of 44% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -$1.82, behind the -59¢ consensus on The Street, where analysts were looking for sales of $25.3 million.
“Our first quarter results demonstrate continued positive momentum across all aspects of our business,” president & CEO Kim Blickenstaff said in prepared remarks. “These trends, in combination with our robust product pipeline and the new integrated continuous glucose monitoring opportunities, give us confidence in our ability to achieve both our near and longer-term goals.”
TNDM shares were trading at $7.71 apiece today in afternoon activity, down -3.5%.
