TNDM earnings analysis
What we found in TNDM's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Y/Y
- Revenue increased to $247.2M in Q1 2026, up from $234.4M in Q1 2025.
- Improved Gross Margin
- Gross margin rose to 55% from 51% year-on-year, aided by better average selling prices.
- Reduced Operating Loss
- Operating loss improved to $17.4M in Q1 2026 compared to $120.9M in Q1 2025.
- Cash Position
- Cash and equivalents stood at $570.3M as of March 31, 2026.
- Decrease in Operating Expenses
- Operating expenses dropped substantially to $154.2M from $239.3M year-over-year.
- Increased Pump Shipments
- More than 29,000 pumps were shipped worldwide in Q1 2026, compared to over 17,000 in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining EPS Trend
- EPS dropped to -0.83, worse than the estimate of -0.45.
- Revenue Miss
- Reported revenue was lower than the consensus estimate of $240.2M.
- Regulatory Scrutiny
- Increased oversight and regulatory requirements could affect product sales and operational efficiency.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.83
- Gross margin
- 55%
- Segment
- US Sales: $160.8M
- Segment
- International Sales: $86.4M
What they said about what is next.
No numerical guidance provided; future outlook dependent on execution of new strategies.
The filing reads worse than the one before it.
What came before.
- 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,…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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