Tandem Diabetes (TNDM) Tops Q4 EPS by 10c, Revenues Beat; Offers FY21 Revenues Guidance Above Consensus

February 24, 2021 4:35 PM EST
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Price: $86.32 --0%

EPS Growth %: +36.0%

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Tandem Diabetes (NASDAQ: TNDM) reported Q4 EPS of $0.22, $0.10 better than the analyst estimate of $0.12. Revenue for the quarter came in at $168.1 million versus the consensus estimate of $141.58 million.

Fourth Quarter and Full Year 2020 Highlights

In comparing the fourth quarter of 2020 to the same period of 2019:

  • Worldwide pump shipments increased 67 percent to 32,685 pumps
  • Sales increased 55 percent to $168.1 million
  • Adjusted EBITDA(1) remained consistent at 21 percent of sales
  • Operating margin improved to 11 percent

“In 2020, we launched our best-in-class Control-IQ technology, surpassed the milestone of having more than 200,000 customers in our worldwide installed base, and made meaningful internal product development and operational progress, all under the constraints of the global pandemic,” said John Sheridan, president and chief executive officer. “In the year ahead, we remain focused on executing through operational excellence, delivering sustainable growth through our robust commercial offerings and product pipeline, and providing people worldwide a positively different experience in diabetes care.”

GUIDANCE:

Tandem Diabetes sees FY2021 revenue of $600-615 million, versus the consensus of $563.05 million.

For the year ending December 31, 2021, the Company is providing its financial guidance as follows:

  • Sales are estimated to be in the range of $600 million to $615 million, which represents an annual sales growth of 20 percent to 23 percent compared to 2020
    • Includes international sales of approximately $105 million to $110 million
  • Gross margin is estimated to be approximately 55 percent
  • Adjusted EBITDA(1) is estimated to be 14 percent to 15 percent of sales
  • Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $80 million, which include:
    • Approximately $65 million in non-cash, stock-based compensation expense
    • Approximately $15 million of depreciation and amortization

For earnings history and earnings-related data on Tandem Diabetes (TNDM) click here.



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