Tandem Diabetes Care (NASDAQ:TNDM) Issues Quarterly Earnings Results

Tandem Diabetes Care (NASDAQ:TNDM) posted its quarterly earnings data on Thursday. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04, FiscalAI reports. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $277.14 million. During the same period last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis.

Here are the key takeaways from Tandem Diabetes Care’s conference call:

• Company reported a record 2025 — surpassing $1 billion in sales with Q4 at $290M (+15% YoY), improved profitability (FY gross margin 54%, Q4 gross margin 58%), first positive operating margin since 2021, adjusted EBITDA 11% in Q4, and nearly $300M in cash with FCF generation in Q3–Q4.
• Tandem is shifting to a pay-as-you-go pharmacy model that will create meaningful near-term revenue headwinds in 2026 (company estimates $85–95M total headwinds, ~$70–80M U.S.), moderating reported sales growth even as pump shipments are expected to increase 10–11% in the U.S.
• Product roadmap and near-term launches are catalytic — Control‑IQ+ expanded indications, FreeStyle Libre 3 Plus and Dexcom 15‑day integrations, three Q2 product launches (including scaled Mobi OUS), and a planned 510(k) for Mobi Tubeless (file in Q2, targeted H2 launch) plus a pivotal trial toward a fully closed‑loop FDA filing in 2027.
• International strategy is transitioning to direct operations (UK, Switzerland, Austria now live) with a playbook to expand — management expects long‑term ASP premiums (~30%) but flagged a ~$15M 2026 destocking/buyback headwind and guidance of $335–340M in international sales for 2026.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $18.52 on Friday. The stock has a fifty day moving average price of $20.85 and a 200 day moving average price of $16.95. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The stock has a market cap of $1.26 billion, a PE ratio of -6.07 and a beta of 1.68. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $35.12.

Wall Street Analyst Weigh In

A number of brokerages have commented on TNDM. TD Cowen initiated coverage on shares of Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 price objective for the company. Robert W. Baird set a $30.00 price objective on shares of Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Barclays increased their target price on Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Mizuho lifted their price target on Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Quarry LP grew its position in shares of Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Tandem Diabetes Care by 67.4% in the fourth quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 1,381 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Tandem Diabetes Care by 218.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the medical device company’s stock worth $171,000 after purchasing an additional 6,290 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.