Tandem Diabetes (TNDM) Misses Q1 EPS by 23c, Beats on Revenues; Offers FY18 Revenue Outlook

Tandem Diabetes (NASDAQ: TNDM) reported Q1 EPS of ($1.82), $0.23 worse than the analyst estimate of ($1.59). Revenue for the quarter came in at $27.3 million versus the consensus estimate of $25.32 million.

First Quarter 2018 Results

In comparing the first quarter of 2018 to the same period of 2017:

• Pump shipments increased 58 percent to 4,444 pumps from 2,816 pumps.
• Sales increased 44 percent to $27.3 million from $19.0 million. The first quarter of 2017 benefited from $1.5 million in previously deferred sales that were recognized during the period1.
• Operating margin improved to negative 57 percent from negative 112 percent.

2018 Annual Guidance

For the year ending December 31, 2018, the Company is reaffirming its financial guidance as follows:

• Sales are estimated to be in the range of $132 million to $140 million, which represents an annual sales growth of 23 percent to 30 percent compared to 2017.
  • Annual sales for 2017 benefited from $5.0 million in previously deferred sales that were recognized during the period1.
• Operating margin is estimated to be in the range of negative 40 percent to negative 35 percent, which includes:
  • Approximately $4.0 million to $5.0 million in non-cash, stock-based compensation expense.
  • Approximately $7.0 million to $8.0 million of depreciation and amortization.

GUIDANCE:

Tandem Diabetes sees FY2018 revenue of $132-140 million, versus the consensus of $136.72 million.

For earnings history and earnings-related data on Tandem Diabetes (TNDM) click here.

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