10-K · February 19, 2026
Tandem reported full-year sales of $1,014,736 (in thousands) in 2025, up from $940,203 in 2024, with gross margin expanding to 54% from 52%. Despite top-line growth and product/market expansion (Control‑IQ+ rollouts,…
Earnings analysis · 10-Q
TNDM earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Tandem Diabetes Care reported revenues of $247.2 million for Q1 2026, surpassing last year's $234.4 million, but still falling short of the expected $240.2 million. The company posted an EPS of -0.83, significantly…
Read full summary
Tandem Diabetes Care reported revenues of $247.2 million for Q1 2026, surpassing last year's $234.4 million, but still falling short of the expected $240.2 million. The company posted an EPS of -0.83, significantly below the consensus estimate of -0.45, indicating continued challenges in profitability. Notably, gross margin improved to 55% compared to 51% in the previous year, reflecting higher average selling prices and efficiency improvements in operations.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.83
- Gross margin
- 55%
What stood out
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Revenue Growth Y/Y
Revenue increased to $247.2M in Q1 2026, up from $234.4M in Q1 2025.
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Improved Gross Margin
Gross margin rose to 55% from 51% year-on-year, aided by better average selling prices.
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Reduced Operating Loss
Operating loss improved to $17.4M in Q1 2026 compared to $120.9M in Q1 2025.
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Cash Position
Cash and equivalents stood at $570.3M as of March 31, 2026.
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Decrease in Operating Expenses
Operating expenses dropped substantially to $154.2M from $239.3M year-over-year.
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Increased Pump Shipments
More than 29,000 pumps were shipped worldwide in Q1 2026, compared to over 17,000 in Q1 2025.
What to watch
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Declining EPS Trend
EPS dropped to -0.83, worse than the estimate of -0.45.
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Revenue Miss
Reported revenue was lower than the consensus estimate of $240.2M.
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Regulatory Scrutiny
Increased oversight and regulatory requirements could affect product sales and operational efficiency.
Management's outlook
No numerical guidance provided; future outlook dependent on execution of new strategies.
Earlier filings 4
10-Q · August 6, 2025
Tandem reported Q2 sales of $240.678M (up from $221.910M in Q2 2024) with gross margin improving to 52% from 51%. Operating loss widened to $51.810M (vs. $30.774M prior year) driven largely by a $19.951M litigation and…
10-K · February 26, 2025
Tandem reported full-year 2024 sales of $940.2 million (up from $747.7 million in 2023) driven by higher pump shipments (>120,000 pumps shipped worldwide) and growth outside the U.S. Gross margin expanded to 52% and…
10-Q · August 1, 2024
Tandem Diabetes reported Q2 sales of $221.9 million and gross profit of $112.8 million, with gross margin of 51%. Revenue improved both sequentially and year-over-year, operating loss narrowed to $30.8 million, and EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.