TANDEM DIABETES CARE INC TNDM

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

References within this Annual Report to "Tandem," "we," "our," "us," "management," or the "Company" refer to Tandem Diabetes Care, Inc., together with its wholly-owned subsidiaries.

Tandem Diabetes Care is a global leader in insulin delivery and diabetes technology, specializing in the design, development, and commercialization of advanced solutions that reduce the burden of diabetes management. We serve nearly 500,000 people living with diabetes in more than 25 countries worldwide. Our strategy is to offer flexibility and choice in intelligent insulin delivery systems through an accessible portfolio of market-leading pumps, applications and insights. In support of this strategy, our Tandem pump platforms include t:slim X2 and Tandem Mobi (Mobi), both of which feature Control-IQ+ advanced hybrid closed-loop technology.

Last close 17.43 2026-10-23
Market cap $1.21B 2026-06-30 share count
52-week range 12.26 - 29.65

Valuation FY2025 figures against the last close

P/S1.2x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-3.04

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 706.9M (69.7%) 70% United States International, FY2025: 307.8M (30.3%) 30% International FY2024 United States, FY2024: 672.7M (71.5%) 72% International, FY2024: 267.5M (28.5%) 28% FY2023 United States, FY2023: 554.9M (74.2%) 74% International, FY2023: 192.8M (25.8%) 26%
Region FY2025FY2024FY2023
United States $706.9M $672.7M $554.9M
International $307.8M $267.5M $192.8M

As the company reported it, from the “Business Segment and Geographic Information - Geographical Markets (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.01B$940.2M$747.7M$801.2M$702.8M$498.8M$362.3M$183.9M$107.6M$84.2M
Cost of revenue $468.7M$450.6M$380.0M$388.2M$326.6M$238.3M$168.1M$94.0M$63.5M$60.7M
Gross profit $546.0M$489.6M$367.7M$413.0M$376.2M$260.5M$194.2M$89.8M$44.1M$23.6M
R&D ————$92.1M$63.6M$45.2M$29.2M$20.7M$18.8M
SG&A $445.0M$389.8M$352.5M$335.7M$261.5M$204.9M$165.7M$105.2M$86.4M$82.8M
Total operating expenses $733.3M$588.7M$600.9M$505.8M$353.6M$268.5M$210.9M$134.5M$107.0M$101.6M
Operating income -$187.3M-$99.1M-$233.2M-$92.8M$22.7M-$8.0M-$16.7M-$44.6M-$62.9M-$78.1M
Interest expense $7.9M$7.4M$9.9M$6.2M——————
Pre-tax income -$200.3M-$91.9M-$220.3M-$92.9M$15.9M-$36.3M-$24.6M-$122.6M-$73.0M-$83.5M
Income tax $4.4M$4.2M$2.4M$1.7M$335.0K$1.9M$149.0K$51.0K$8.0K$15.0K
Net income -$204.7M-$96.0M-$222.6M-$94.6M$15.6M-$34.4M-$24.8M-$122.6M-$73.0M-$83.4M
EPS, basic -3.04-1.47-3.43-1.470.25-0.56-0.42———
EPS, diluted -3.04-1.47-3.43-1.470.24-0.56-0.42-2.55-12.87-27.30
Shares, diluted (wtd. avg.) 67.3M65.5M65.0M64.1M64.3M61.0M58.5M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $90.6M$69.2M$58.9M$172.5M$71.2M$94.6M$51.2M$41.8M$23.7M$46.7M
Short-term investments $202.0M$369.1M$409.0M$444.4M$552.6M$390.3M$125.3M$87.2M$479.0K$8.9M
Receivables $165.5M$114.6M$105.6M$114.7M$110.7M$82.2M$46.6M$35.2M$20.8M$11.2M
Inventory $128.8M$149.6M$157.9M$111.1M$68.6M$63.7M$49.1M$19.9M$27.0M$21.2M
Total current assets $618.1M$724.5M$748.0M$850.0M$811.5M$637.2M$276.1M$187.9M$64.2M$92.1M
Property, plant and equipment $83.6M$78.2M$76.5M$68.6M$50.4M$50.0M$32.9M$17.2M$19.6M$18.4M
Other intangibles $11.7M$925.0K$2.8M$4.6M$6.6M—————
Total assets $881.1M$967.7M$952.7M$1.05B$905.1M$716.4M$326.1M$206.3M$95.3M$112.4M
Accounts payable $47.1M$44.7M$49.6M$55.7M$28.0M$17.8M$17.7M$6.8M$5.2M$7.5M
Short-term debt —$40.7M$0———————
Total current liabilities $242.7M$247.0M$195.3M$165.3M$131.9M$103.9M$99.4M$66.3M$36.1M$31.5M
Long-term debt $310.0M$308.3M$285.0M—————$82.7M$81.1M
Total liabilities $725.9M$704.6M$639.0M$612.8M$472.0M$350.1M$131.1M$75.0M$124.5M$118.3M
Retained earnings -$1.25B-$1.05B-$951.8M-$729.2M-$634.6M-$659.2M-$624.8M-$600.1M-$477.6M-$404.6M
Total equity $155.2M$263.1M$313.6M$439.9M$433.1M$366.3M$195.0M$131.3M-$29.1M-$5.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$9.7M$24.2M-$31.8M$50.5M$111.4M$24.7M$41.9M-$8.3M-$66.1M-$61.2M
Depreciation and amortisation $17.7M$16.6M$15.7M$14.3M$13.8M$10.5M$6.1M$5.8M$6.9M$5.5M
Stock-based compensation $92.4M$101.4M$88.1M$84.9M$60.8M$58.4M$58.1M$23.7M$12.6M$11.7M
Capital expenditure $19.9M$19.2M$26.8M$34.1M$14.2M$27.4M$19.5M$3.0M$5.7M$8.9M
Investing cash flow $72.9M-$23.5M-$85.7M$33.2M-$186.9M-$296.1M-$57.0M-$90.7M$2.8M$10.4M
Financing cash flow -$43.4M$8.4M$4.1M$16.9M$51.9M$314.4M$24.2M$117.2M$40.4M$52.3M
Buybacks $0$30.0M$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001438133-26-000034.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2016: 84.2M Gross profit, FY2016: 23.6M Net income, FY2016: -83.4M Revenue, FY2017: 107.6M Gross profit, FY2017: 44.1M Net income, FY2017: -73M Revenue, FY2018: 183.9M Gross profit, FY2018: 89.8M Net income, FY2018: -122.6M Revenue, FY2019: 362.3M Gross profit, FY2019: 194.2M Net income, FY2019: -24.8M Revenue, FY2020: 498.8M Gross profit, FY2020: 260.5M Net income, FY2020: -34.4M Revenue, FY2021: 702.8M Gross profit, FY2021: 376.2M Net income, FY2021: 15.6M Revenue, FY2022: 801.2M Gross profit, FY2022: 413M Net income, FY2022: -94.6M Revenue, FY2023: 747.7M Gross profit, FY2023: 367.7M Net income, FY2023: -222.6M Revenue, FY2024: 940.2M Gross profit, FY2024: 489.6M Net income, FY2024: -96M Revenue, FY2025: 1B Gross profit, FY2025: 546M Net income, FY2025: -204.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $84.2M $107.6M $183.9M $362.3M $498.8M $702.8M $801.2M $747.7M $940.2M $1.01B
Gross profit $23.6M $44.1M $89.8M $194.2M $260.5M $376.2M $413.0M $367.7M $489.6M $546.0M
Net income -$83.4M -$73.0M -$122.6M -$24.8M -$34.4M $15.6M -$94.6M -$222.6M -$96.0M -$204.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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