Tandem Diabetes (NASDAQ: TNDM) reported Q4 EPS of $0.04, $0.09 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $108.4 million versus the consensus estimate of $109.22 million.

In comparing the fourth quarter of 2019 to the same period of 2018:

• Worldwide pump shipments increased 21 percent to 19,602 pumps from 16,168 pumps
• Sales increased 42 percent to $108.4 million from $76.2 million
• Gross margin improved 1 point to 56 percent of sales from 55 percent
• Adjusted EBITDA improved to 21 percent of sales from 16 percent of sales

“In 2019, we more than doubled our year-over-year shipments, primarily based on the strength of our Basal-IQ technology adoption. We also pioneered two new device categories with the FDA and received clearance for t:slim X2 with Control-IQ technology, the most advanced automated insulin delivery system available,” said John Sheridan, president and chief executive officer. “As we look to the year ahead, we\'ll be working to bring the benefits of our t:slim X2 systems to more people with diabetes worldwide, while advancing our robust product pipeline, furthering our scalability efforts and driving the Company to sustained profitable growth.”

GUIDANCE:

Tandem Diabetes sees FY2020 revenue of $450-465 million, versus the consensus of $444.62 million.

For the year ending December 31, 2020, the Company is providing its financial guidance as follows:

• Sales are estimated to be in the range of $450 million to $465 million, which represents an annual sales growth of 24 percent to 28 percent compared to 2019
  • Includes international sales of approximately $70 million to $75 million
• Gross margin is estimated to be approximately 54 percent
• Adjusted EBITDA is estimated to be 12 percent to 14 percent
• Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $60 million, which include:
  • Approximately $50 million in non-cash, stock-based compensation expense
  • Approximately $10 million of depreciation and amortization

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