Tandem Diabetes Care (NSDQ:TNDM) shares ticked up after hours today on second-quarter results that came in well ahead of the consensus forecast.
The San Diego-based company posted profits of $4 million on sales of $172.1 million for the three months ended June 30, 2021, for a massive bottom-line gain from losses of -$27.1 million this time last year on sales growth of 57.6%.
Earnings per share came in at 6¢, 12¢ ahead of Wall Street, where analysts were looking for sales of $143.6 million.
“We achieved record-high sales in the second quarter by expanding and further penetrating the U.S. insulin pump market, and through the rapid uptake of our technology internationally where our business opportunity is still in its early stages,” Tandem president & CEO John Sheridan said in a news release. “Our worldwide installed base is now nearly 270,000 people, and we are on track to achieve our goal of bringing the benefits of our technology to more than half a million customers by year-end 2024.”
Tandem Diabetes Care said it expects full-year revenues of between $670 million and $685 million, marking annual growth of between 34% and 37%.
TNDM shares were up 6% at $111.25 per share after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.2%.
