Tandem Diabetes (NASDAQ: TNDM) reported Q2 EPS of ($0.78), $0.38 worse than the analyst estimate of ($0.40). Revenue for the quarter came in at $240.68 million versus the consensus estimate of $238.57 million.

GUIDANCE:

Tandem Diabetes sees FY2025 revenue of $1 million, versus the consensus of $1.004 million.

Sales in the United States of approximately $700 million.
Sales outside the United States of approximately $300 million, which reflects a $10 million headwind associated with the Company’s preparation for direct commercial operations in select countries.

Gross margin is estimated to be approximately 53% to 54% of sales for the full year.
Adjusted EBITDA margin(1) is being recast from approximately 3% to approximately negative 5% of sales for the full year, which has been updated to include a negative 8 percentage point impact for an acquired in-process research and development (“IPR&D”) charge that occurred in the first quarter of 2025. Beginning in the second quarter of 2025, the Company no longer included an adjustment for IPR&D expense in its Non-GAAP results to align with views expressed by the staff of the U.S. Securities and Exchange Commission.
Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $115 million. This includes:

Approximately $95 million non-cash, stock-based compensation expense.
Approximately $20 million depreciation and amortization expense.

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