Tandem Diabetes Care (Nasdaq:TNDM) shares took a hit after hours today on fourth-quarter results that topped the consensus sales forecast.
Shares of TNDM fell 11% to $29.88 apiece in post-market trading today.
The San Diego-based automated insulin delivery technology company reported profits of $755,000. That equals 1¢ per share on sales of $282.65 million for the three months ended Dec. 31, 2024. The company also had a non-GAAP (adjusted) net loss of $28.8 million.
Tandem recorded a massive bottom-line gain out of the red on a sales increase of 43.6%. Sales topped projections on Wall Street as experts forecast $251.39 million in revenue.
Worldwide insulin pump shipments grew by more than 25% in the fourth quarter for Tandem. The company expects continued growth with a wider target population, as it announced yesterday that the FDA cleared its Control-IQ+ automated insulin delivery algorithm for people with type 2 diabetes.
“2024 was a pivotal year for Tandem, as we returned to strong sales growth both in and outside of the United States, while delivering industry-leading customer satisfaction,” said John Sheridan, president and CEO. “We are continuing to transform our business in 2025 through the recent expansion of our U.S. sales force, commencing pharmacy coverage, and adding new features and indications to our robust portfolio as we work to improve the lives of people with diabetes.”
Tandem expects adjusted EPS to range between (XXX) for the full year. It projects between $997 million and $1.007 billion in sales.
“We are committed to delivering sustained profitable growth and are funding key commercial investments while driving operating leverage,” said Leigh Vosseller, EVP and CFO. “These investments focus on our U.S. sales infrastructure, business systems and technology, as well as the establishment of operations to support a direct launch in select European countries and are fundamental to achieving our longer-term financial objectives.”
