Logo

TNDM

Tandem Diabetes Care, Inc.

TNDM

Tandem Diabetes Care, Inc. • NASDAQ
$21.01 ▲ 1.35% (+0.28)
Market Cap $1.42 B
52w High $38.28
52w Low $9.98
Dividend Yield 0%
P/E -6.93
Volume 766.94K
Outstanding Shares 67.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $249.253M ▲ $154.355M ▼ $-21.165M ▲ -8.491% ▲ $-0.31 ▲ $-18.585M ▲
Q2-2025 $240.678M ▲ $177.665M ▼ $-52.4M ▲ -21.772% ▲ $-0.78 ▲ $-50.818M ▲
Q1-2025 $234.422M ▼ $239.285M ▲ $-130.556M ▼ -55.693% ▼ $-1.97 ▼ $-116.421M ▼
Q4-2024 $282.648M ▼ $158.037M ▲ $755K ▲ 0.267% ▲ $0.011 ▲ $6.121M ▲
Q3-2024 $363.289M $150.746M $-23.251M -6.4% $-0.35 $-16.538M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $319.111M ▲ $874.653M ▼ $741.688M ▼ $132.965M ▼
Q2-2025 $315.361M ▼ $875.736M ▼ $742.453M ▼ $133.283M ▼
Q1-2025 $368.625M ▼ $922.143M ▼ $766.851M ▲ $155.292M ▼
Q4-2024 $438.329M ▼ $967.658M ▲ $704.56M ▼ $263.098M ▲
Q3-2024 $473.305M $957.73M $720.02M $237.71M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-21.165M ▲ $8.264M ▲ $20.536M ▼ $-1.57M ▲ $27.835M ▲ $4.172M ▲
Q2-2025 $-52.4M ▲ $-9.496M ▲ $58.13M ▲ $-39.713M ▼ $10.538M ▲ $-15.702M ▲
Q1-2025 $-130.556M ▼ $-18.278M ▼ $9.186M ▲ $-4.688M ▼ $-15.66M ▼ $-21.243M ▼
Q4-2024 $755K ▲ $10.717M ▼ $5.01M ▲ $2.302M ▲ $20.195M ▲ $7.648M ▼
Q3-2024 $-23.251M $26.779M $-19.896M $-4.519M $1.342M $21.54M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Pump
Pump
 $110.00M ▲$100.00M ▼$110.00M ▲$110.00M ▲
Supplies and Other
Supplies and Other
 $130.00M ▲$130.00M ▲$130.00M ▲$140.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past five years, with only a small dip in the middle, showing healthy demand for Tandem’s pumps and related products. Gross profit has also trended higher, which means the core product economics are solid. The challenge is further down the income statement: operating income and net income have been negative in most recent years, with losses widening after a brief period of profitability. This suggests that spending on research, marketing, and infrastructure is outpacing revenue growth. In other words, the business is scaling but not yet at a size or cost structure where it can consistently earn profits. Profitability remains a key execution risk.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown its asset base over time but has taken on more debt and seen its equity cushion thin out recently. Cash balances have come down from earlier peak levels, which slightly reduces financial flexibility compared with a few years ago. Debt has increased and now represents a meaningful part of the capital structure, which adds some financial risk if business conditions weaken or if funding markets tighten. Equity is still positive, but the decline reflects accumulated losses. Overall, the balance sheet looks adequate for a growth-stage med‑tech company, but it is no longer conservatively positioned and will need careful management if losses continue.

Cash Flow

Cash Flow Cash generation has been mixed. The company has shown it can produce positive operating cash flow in better years, but this has not been consistent, with at least one recent year of cash burn from operations. Free cash flow has hovered around breakeven over the period, occasionally positive, occasionally slightly negative. Capital spending has been steady and manageable, indicating investment in manufacturing, technology, and infrastructure without being overly aggressive. The key takeaway is that the business is close to self-funding but not reliably so; swings in working capital, growth investments, or weaker demand could tip it into more sustained cash burn. That makes ongoing access to external capital and good cost control important.

Competitive Edge

Competitive Edge Tandem operates in a highly competitive diabetes technology market but has carved out a distinctive position through its Control‑IQ algorithm, user-friendly pump design, and strong partnerships with leading continuous glucose monitor makers. Its systems are known for interoperability, remote software updates, and a modern, patient-friendly interface, which together build a loyal user base and strong brand recognition. The company competes against large, well-funded players in insulin delivery and diabetes management, which can exert pricing pressure and accelerate innovation cycles. However, Tandem’s open-ecosystem approach, clinical results, and focus on patient experience provide a meaningful edge. The expansion into technology for people with type 2 diabetes could further strengthen its market position if execution is successful.

Innovation and R&D

Innovation and R&D Innovation is a clear strength. Tandem has moved from a single flagship pump to a broader platform centered on Control‑IQ technology, the t:slim X2, and the smaller, smartphone‑controlled Tandem Mobi. Remote software updates and close integration with multiple glucose sensors show a thoughtful, future‑proof design philosophy. The pipeline is robust: a tubeless version of Mobi, the Sigi rechargeable patch pump with pre-filled cartridges, work toward more fully automated “artificial pancreas” systems, and exploration of additional sensing such as ketones. These initiatives target convenience, miniaturization, and better automated control—key areas of patient demand. The flip side is that this level of R&D and product development is costly and is a major factor behind current losses. There are also regulatory, technical, and timing risks: delays or setbacks in approvals, integration, or adoption could weigh on growth and margins.

Summary

Tandem Diabetes Care is a growth-focused medical device company with a strong foothold in advanced insulin pump therapy and automated insulin delivery. Revenue has grown meaningfully, supported by a differentiated product ecosystem and a loyal user base, but the company has not yet translated this into consistent profitability. The balance sheet is still workable but more stretched than a few years ago, with higher debt and lower cash, which heightens sensitivity to ongoing losses and execution missteps. Cash flow is near breakeven over time but not yet dependable, underscoring the importance of disciplined spending and successful product launches. Strategically, Tandem’s strengths lie in its technology, user-centric design, interoperability with multiple glucose sensors, and a forward-looking pipeline that targets both type 1 and type 2 diabetes. The main risks center on continued losses, rising financial leverage, intense competition from larger players, reimbursement dynamics, and the execution required to bring its ambitious pipeline to market on time. Overall, this is a company with clear technological and clinical strengths operating in a large and growing market, but with financials that still reflect a transition phase from innovation-led growth toward the goal of sustainable profitability.

NEWS

November 29, 2025 · 9:09 AM UTC

ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Tandem Diabetes Care, Inc. Investors with Losses in Excess of $100K to Inquire About Securities Class Action Investigation - TNDM

Read more

November 28, 2025 · 12:49 PM UTC

Rosen Law Firm Encourages Tandem Diabetes Care, Inc. Investors to Inquire About Securities Class Action Investigation - TNDM

Read more

November 27, 2025 · 12:45 PM UTC

TNDM Investor News: If You Have Suffered Losses in Tandem Diabetes Care, Inc. (NASDAQ: TNDM), You Are Encouraged to Contact The Rosen Law Firm About Your Rights

Read more

November 26, 2025 · 5:03 PM UTC

ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Tandem Diabetes Care, Inc. Investors to Inquire About Securities Class Action Investigation - TNDM

Read more

November 25, 2025 · 4:58 PM UTC

ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Tandem Diabetes Care, Inc. Investors to Inquire About Securities Class Action Investigation - TNDM

Read more