24/7 Market News- Tandem Diabetes Care Reports Q2 2024 Financial Results and Increases Full Year 2024 Sales Guidance

August 2, 2024

DENVER, Colo., Aug 02, 2024 (247marketnews.com)- Tandem Diabetes Care, Inc. (Nasdaq: TNDM) reported its second quarter financial results and increased its full year sales guidance.

Highlights for the second quarter included a 13% increase in worldwide GAAP sales, to $221.9, million compared to second quarter 2023.

Tandem Diabetes Care’s president and chief executive officer, John Sheridan, commented, “Our financial outperformance in the second quarter was bolstered by strong demand for our latest technology offerings, namely Tandem Mobi, which drove our expansion of the insulin pump market.

“The early enthusiasm for our expanding portfolio supports our strategy to offer our customers choice as we work to bring the benefits of our technology to more people living with diabetes worldwide.”

The Company raised its non-GAAP guidance for the fiscal year to approximately $885 million to $892 million.

Tandem Diabetes Care’s executive vice president and chief financial officer, Leigh Vosseller, stated, “We increased our worldwide sales expectations to 15 percent annual growth, which reflects the strong performance of our recent product launches and consistently high retention rates for our existing customer base.

“Driving growth is a top priority for our business, as we balance the associated investments with opportunities to drive leverage in pursuit of our long-term profitability objectives.”

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