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Tandem Diabetes Care Reports Second Quarter 2014 Financial Results
Date:7/31/2014

SAN DIEGO, July 31, 2014 /PRNewswire/ -- Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and manufacturer of the t:slim® Insulin Pump, today reported its financial results for the quarter ended June 30, 2014.

In comparing the second quarter of 2014 to the same period of 2013:

  • Sales grew 86 percent to $10.3 million from $5.5 million
  • t:slim Pump shipments grew 64 percent to 2,235 pumps from 1,363 pumps
  • In comparing six months ended June 30, 2014 to the same period of 2013:

  • Sales grew 67 percent to $18.3 million from $11.0 million, which included $1.9 million of t:slim Pump sales recognized in the first quarter 2013 that were shipped in the fourth quarter of 2012
  • t:slim Pump shipments grew 79 percent to 3,958 pumps from 2,215 pumps
  • "In addition to seeing continued, increased adoption of the t:slim Pump and meaningful gross margin improvement in the second quarter, we also made significant progress with our new products in development," said Kim Blickenstaff, President and Chief Executive Officer of Tandem Diabetes Care. "We recently submitted a PMA application to the FDA for the t:slim G4™ Insulin Pump, which integrates our t:slim technology with the Dexcom® G4® Platinum CGM System.  This is an important milestone for Tandem as we work to expand our product portfolio to meet the various needs of the diabetes community."

    For the quarter ended June 30, 2014, gross margin was 34 percent compared to 7 percent for the same period of 2013.  The second quarter of 2014 benefited from improvements in the manufacturing process and increased production volumes.  

    For the second quarter of 2014, operating expenses totaled $21.8 million compared to $14.1 million for the same period of 2013.  The increases in operating expenses are primarily associated with
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    SOURCE Tandem Diabetes Care, Inc.
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