Tandem Diabetes (TNDM) Reports Prelim. Q1 Sales of $27M

Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and manufacturer of the only touchscreen insulin pumps available in the United States, today reported select, unaudited and preliminary results for the quarter ended March 31, 2018.

• Pump shipments increased by 56 percent to approximately 4,400 pumps in the first quarter of 2018 from 2,816 pumps in the same period of 2017.
• Sales increased by 42 percent to approximately $27.0 million in the first quarter of 2018 from $19.0 million in the same period of 2017. The first quarter of 2017 benefited from $1.5 million in previously deferred sales that were recognized during the period1.

As of March 31, 2018, the Company had approximately $81.9 million in cash, cash equivalents, short-term investments and restricted cash. This includes approximately $64.2 million in net proceeds from the equity financing completed in February 2018 and $6.5 million in net proceeds from warrants exercised in the first quarter of 2018. The Company anticipates that outstanding Series B warrants to purchase common stock will continue to be exercised before they expire on April 17, 2018.

“Continued high-demand for the t:slim X2 Insulin Pump drove our record first quarter sales, and supports our strategy of using modern, consumer-focused technology to improve the lives of people with diabetes,” said Kim Blickenstaff, President and CEO. “This strong commercial momentum allows us to continue leveraging our early infrastructure investments and positions us well to deliver upon our goals in 2018.”

First Quarter 2018 Earnings Conference Call

The Company intends to report its first quarter 2018 financial and operating results on Thursday, April 26, 2018 after the markets close. Management intends to host a conference call at 4:30PM Eastern Time (1:30PM Pacific Time) on that day. More details will be forthcoming.

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