Tandem Diabetes (NASDAQ: TNDM) reported Q2 EPS of ($1.17), $0.82 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $34.1 million versus the consensus estimate of $29.67 million.

Second Quarter 2018 Results

In comparing the second quarter of 2018 to the same period of 2017:

• Pump shipments increased 59 percent to 5,447 pumps from 3,427 pumps
• Sales increased 60 percent to $34.1 million from $21.3 million
• Operating margin improved to negative 41 percent from negative 89 percent

“We are increasing our sales guidance for the year following our continued record growth in the second quarter,” said Kim Blickenstaff, President and Chief Executive Officer. “We look to further this momentum through our upcoming launch of the t:slim X2 Insulin Pump with Basal-IQ Technology and by progressing our product pipeline as we work to improve the lives of people with diabetes.”

2018 Annual Guidance

For the year ending December 31, 2018, the Company is updating its financial guidance as follows:

• Sales are estimated to be in the range of $140 million to $148 million, which represents an annual sales growth of 30 percent to 38 percent compared to 2017.
• Annual sales for 2017 benefited from $5.0 million in previously deferred sales that were recognized during the period1.
• Operating margin is estimated to be in the range of negative 45 percent to negative 40 percent, which includes:
• Approximately $20.0 million in non-cash, stock-based compensation expense
• Approximately $7.0 million to $8.0 million of depreciation and amortization

GUIDANCE:

Tandem Diabetes sees FY2018 revenue of $140-148 million.

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