Tandem Diabetes' Q1 Bottom-Line Slide Deeper Into Red Despite Sales Growth

• Tandem Diabetes Care Inc (NASDAQ:TNDM) posted Q1 losses of $(0.23) deeper than $(0.08) posted a year ago and missing the consensus of $(0.07).
• Sales increased 25% to $175.91 million, beating the consensus of $168.43 million.
• Worldwide pump shipments increased 11% Y/Y to 28,095.
• The gross margin remained almost unchanged at 52%.
• The company reported an operating loss of $(15.34) million, compared to $(3.24) million.
• Tandem Diabetes ended Q1 with cash and equivalents of $635.4 million.
• Guidance: Tandem expects FY22 revenues of $850 million - $865 million, reflecting Y/Y growth of 21% - 23%, versus the consensus of $846.54 million.
• Earlier, the company estimated sales of $845 million - $860 million.
• It expects gross margin to be 54% and Adjusted EBITDA margin to be 14% - 15%.
• Price Action: TNDM shares traded lower by 12.2% at $82.90 on the last check Thursday.