Tandem Diabetes (NASDAQ: TNDM) reported Q2 EPS of ($0.45), $0.21 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $109.2 million versus the consensus estimate of $87.15 million.

“We achieved our highest quarterly sales, successfully completed our first acquisition, and executed multiple meaningful agreements in support of our longer-term objectives in the second quarter,” said John Sheridan, president and chief executive officer. “In this challenging global environment, our business has excelled in its commercial, operational and strategic performance.”

GUIDANCE:

Tandem Diabetes sees Q3 2020 revenue of $70-75 million, versus the consensus of $99.82 million.

Tandem Diabetes sees FY2020 revenue of $450-465 million, versus the consensus of $417.24 million.

“We are reinstating the sales guidance we set at the beginning of 2020 based on the continued strong worldwide demand for our t:slim X2 insulin pump,” said Leigh Vosseller, executive vice president and chief financial officer. “While being mindful of the unpredictable nature of the current pandemic, our confidence in the remainder of this year is supported by the positive feedback from users of our Control-IQ technology and its scaling international launch, as well as UnitedHealthcare’s recent decision to include Tandem as a network provider.”

For the year ending December 31, 2020, the Company is reinstating its sales guidance estimated to be in the range of $450 million to $465 million, which includes international sales of approximately $70 million to $75 million. This represents an annual sales growth of 24 percent to 28 percent compared to 2019.

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