Tandem Diabetes Care, Inc. Provides Sales Guidance for the Fourth Quarter and Full Year Ended December 31, 2017 and Year Ending December 31, 2018
January 09, 2018 at 04:15 pm EST
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Tandem Diabetes Care, Inc. provided sales guidance for the fourth quarter and full year ended December 31, 2017 and year ending December 31, 2018. For the fourth quarter, the company’s GAAP sales increased to approximately $39 million to $40 million from $28.9 million. Non-GAAP sales increased to approximately $39 million to $40 million from $24.8 million. Pump shipments increased to approximately 7,000 pumps from 4,418 pumps.
For the year ended December 31, 2017, the company’s GAAP sales increased to approximately $106 million to $107 million from $84.2 million. Non-GAAP sales increased to approximately $101 million to $102 million from $88.5 million. Pump shipments increased to approximately 17,100 pumps from 16,938 pumps.
For the year ending December 31, 2018, the company’s GAAP sales are estimated to be in the range of $132 million to $140 million, an estimated year-over-year increase of approximately 23% to 32% to its preliminary 2017 GAAP sales. When comparing to its preliminary 2017 sales on a non-GAAP basis, the estimated year-over-year increase is approximately 29% to 39%.
Tandem Diabetes Care, Inc. is a global insulin delivery and diabetes technology company, which manufactures and sells advanced automated insulin delivery systems. Its pump portfolio features the Tandem Mobi system and the t:slim X2 insulin pump, both of which feature Control-IQ advanced hybrid closed-loop technology. Its t:slim X2 and Tandem Mobi pumps can be used with a variety of infusion sets to offer patients choice in how and where their pump is worn. In addition, they are software updatable from a personal computer and compatible with its Web-based data management application. Both pumps feature its Control-IQ advanced hybrid closed loop technology, with an automated insulin delivery (AID) feature designed to help increase a user's time in targeted glycemic range. There are two primary therapies used by people with insulin-dependent diabetes, Multiple Daily Injection (MDI) and insulin pumps. As part of it AID systems, it offers pump integration with multiple CGM sensors.