Tandem Diabetes (NASDAQ: TNDM) reported Q3 EPS of ($0.15), $0.05 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $123.6 million versus the consensus estimate of $114.95 million.

Third Quarter 2020 Highlights

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

• Worldwide pump shipments increased 23 percent to 22,021 pumps from 17,839 pumps
• Sales increased 31 percent to $123.6 million from $94.7 million
• Operating margin improved to negative 1 percent from negative 6 percent

“Our t:slim X2 with Control-IQ technology drove record sales in the third quarter, and we are excited to have commenced its launch outside the United States,” said John Sheridan, president and chief executive officer. “The third quarter was a remarkable demonstration of our employees’ commitment to progressing our business commercially, operationally and strategically, while focusing on customer care and preparing for future growth.”

GUIDANCE:

Tandem Diabetes sees FY2020 revenue of $465-475 million, versus the consensus of $462.16 million.

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