Tandem Diabetes Care Reports 22.3% Revenue Growth to $234.4 Million in Q1 2025

Tandem Diabetes Care, Inc. reported significant financial results for the first quarter of 2025, with total sales reaching $234.4 million, a 22.3% increase from $191.7 million in the same period last year. The growth was driven by a rise in pump shipments, which totaled nearly 29,000 units, including over 17,000 in the United States alone. The company’s gross profit also improved to $118.4 million, resulting in a gross margin of 51%, up from 49% in the prior year, primarily due to enhanced manufacturing efficiencies.

Despite the revenue growth, Tandem experienced a net loss of $130.6 million for the quarter, compared to a loss of $42.7 million in the first quarter of 2024. This increase in losses was largely attributed to a $75.2 million charge related to acquired in-process research and development expenses associated with the revised agreement for the acquisition of AMF Medical. Operating expenses surged to $239.3 million, up from $136.4 million a year earlier, reflecting higher costs in selling, general, and administrative expenses, as well as research and development.

Operationally, Tandem's customer base continues to expand, with over 480,000 users in its in-warranty installed base as of December 31, 2024. The company has also made strides in geographic expansion, with sales outside the United States increasing to $83.8 million, up from $61.9 million in the previous year. This growth reflects Tandem's ongoing efforts to penetrate international markets and enhance its product offerings, including the recent launch of the Tandem Mobi insulin pump.

The company’s balance sheet showed total assets of $922.1 million as of March 31, 2025, down from $967.7 million at the end of 2024. Current liabilities increased to $288.2 million, compared to $247.0 million at the end of the previous year, driven by higher accounts payable and accrued expenses. Tandem's cash and cash equivalents decreased to $53.6 million, down from $69.2 million, indicating a need for careful cash management moving forward.

Looking ahead, Tandem Diabetes Care remains focused on its strategic initiatives, including the continued rollout of its insulin delivery systems and enhancements to its digital health platforms. The company anticipates that its ongoing investments in research and development will yield new product innovations, further solidifying its position in the diabetes management market. However, the company also acknowledges the potential impact of regulatory approvals, market competition, and macroeconomic factors on its future performance.