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Tandem Diabetes Care beats Street on Q4 sales, posts EPS miss

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Tandem Diabetes Care tslim_X2_Insulin_Pump_Front_View_Control-IQ_RGB
Image from Tandem Diabetes

Tandem Diabetes Care (NASDAQ:TNDM) shares were slightly up on fourth-quarter results that beat the consensus revenue forecast.

The San Diego-based company posted profits of $10.8 million, or 16¢ per share, on sales of $210 million for the three months ended Dec. 31, 2021, for a 36.4% bottom-line slide on sales growth of 24.9%.

Tandem Diabetes Care’s EPS of 16¢ came in 4¢ behind projections on Wall Street, where analysts were looking for sales of $198.7 million.

“Our fourth-quarter performance was a strong finish to a record year in which we furthered our global leadership position in insulin therapy management,” Tandem Diabetes Care President and CEO John Sheridan said in a news release. “We look to continue driving growth through innovation in 2022 and beyond by offering solutions that meet the different needs and preferences of people living with diabetes.”

Tandem expects sales for 2022 to range between $845 million and $860 million, representing annual sales growth of between 20% and 22%. The company just last week announced the FDA clearance of bolus insulin dosing on the t:slim X2 insulin pump using the t:connect mobile app.

TNDM shares were up 0.1% at $106.26 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.1%.

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