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TNDM Tandem Diabetes Care

Tandem Diabetes Care, Inc. is a medical device company dedicated to improving the lives of people with diabetes through relentless innovation and revolutionary customer experience. The Company takes an innovative, user-centric approach to the design, development and commercialization of products for people with diabetes who use insulin. Tandem's flagship product, the t:slim X2™ insulin pump, is capable of remote software updates using a personal computer and features integrated continuous glucose monitoring. Tandem is based in San Diego, California.

Company profile

Ticker
TNDM
Exchange
CEO
John Sheridan
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Tandem Diabetes Canada • Sugarmate Inc. ...
IRS number
204327508

TNDM stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 98.58M 98.58M 98.58M 98.58M 98.58M 98.58M
Cash burn (monthly) 7.4M 10.33M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 27.65M 38.56M n/a n/a n/a n/a
Cash remaining 70.93M 60.02M n/a n/a n/a n/a
Runway (months of cash) 9.6 5.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Oct 21 Roeder Douglas A Common Stock Other Acquire J Yes No 0 3,766 0 3,766
15 Oct 21 Roeder Douglas A Common Stock Other Dispose J Yes No 0 11,568 0 1,892
15 Oct 21 Roeder Douglas A Common Stock Other Acquire J Yes No 0 11,568 0 13,460
15 Oct 21 Roeder Douglas A Common Stock Other Dispose J Yes No 0 1,000,000 0 0
14 Oct 21 Vosseller Leigh Common Stock Sell Dispose S No Yes 135.0895 10,000 1.35M 6,145
14 Oct 21 Vosseller Leigh Common Stock Option exercise Acquire M No No 18.86 10,000 188.6K 16,145
14 Oct 21 Vosseller Leigh Stock Option Common Stock Option exercise Acquire M No No 18.86 10,000 188.6K 25,160
13 Oct 21 Morrison Susan Common Stock Sell Dispose S No Yes 132.0085 10,048 1.33M 8,082
13 Oct 21 Morrison Susan Common Stock Option exercise Acquire M No No 9 5,903 53.13K 18,130
13 Oct 21 Morrison Susan Common Stock Option exercise Acquire M No No 11.059 4,145 45.84K 12,227

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 303 296 +2.4%
Opened positions 52 46 +13.0%
Closed positions 45 64 -29.7%
Increased positions 108 105 +2.9%
Reduced positions 93 100 -7.0%
13F shares
Current Prev Q Change
Total value 5.88B 5.22B +12.7%
Total shares 67.19M 65.74M +2.2%
Total puts 329.7K 469.91K -29.8%
Total calls 746.8K 655.2K +14.0%
Total put/call ratio 0.4 0.7 -38.4%
Largest owners
Shares Value Change
FMR 5.99M $583.88M -2.1%
Vanguard 5.6M $545.88M +2.6%
Corrib Capital Management 4.5M $13.14M 0.0%
Jackson Square Partners 3.62M $352.89M -2.2%
BLK Blackrock 3.52M $343.14M +1.0%
Capital World Investors 3.28M $319.15M +6.1%
Alger Associates 2.69M $117.15M 0.0%
CS Credit Suisse 1.68M $163.86M -17.0%
IVZ Invesco 1.6M $156.15M -9.5%
Champlain Investment Partners 1.55M $150.64M +15.2%
Largest transactions
Shares Bought/sold Change
Consonance Capital Management 979.23K +979.23K NEW
WDR Waddell & Reed Financial 0 -939.69K EXIT
MCQEF Macquarie 943.53K +887.78K +1592.3%
JHG Janus Henderson 831.16K +831.16K NEW
Voya Investment Management 462.66K -725.29K -61.1%
Ardevora Asset Management 0 -615.54K EXIT
BLVGF Bellevue 1.02M +493.23K +93.6%
Amundi 477.51K +477.51K NEW
STT State Street 1.19M +346.02K +41.0%
CS Credit Suisse 1.68M -345.22K -17.0%

Financial report summary

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Competition
Modular MedicalInsuletMedtronicSenseonics
Risks
  • We have incurred significant operating losses since inception and cannot assure you that we will achieve sustained profitability.*
  • We currently rely on sales of insulin pump products to generate a significant portion of our revenue, and any factors that negatively impact sales of these products may adversely affect our business, financial condition and operating results.*
  • Our ability to maintain and grow our revenue depends in part on retaining a high percentage of our customer base.*
  • We operate in a very competitive industry and if we fail to compete successfully against our existing or potential competitors, or if the competitive environment harms our business partners, our financial condition and operating results may be negatively affected.*
  • Competitive products or other technological developments and breakthroughs for the monitoring, treatment or prevention of diabetes may render our products obsolete or less desirable.
  • The failure of our insulin pump and related products to achieve and maintain market acceptance could result in us achieving sales below our expectations, which would cause our business, financial condition and operating results to be materially and adversely affected.*
  • Failure to secure or retain adequate coverage or reimbursement for our current products and our potential future products by third-party payors could adversely affect our business, financial condition and operating results.*
  • We may face unexpected challenges in marketing and selling our products, and training new customers on the use of our products, which could harm our ability to achieve our sales forecasts.*
  • If we are unable to maintain our existing sales, marketing, clinical and customer service infrastructure, we may fail to increase our sales to meet our forecasts.*
  • If the third parties on which we increasingly rely to assist us with our current and anticipated pre-clinical development or clinical trials do not perform as expected, we may not be able to obtain regulatory clearance or approval or commercialize our products.
  • We are increasingly dependent on clinical investigators and clinical sites to enroll participants in our current and anticipated clinical trials and human factors studies, and the failure to successfully complete those trials and studies could prevent us from obtaining regulatory approvals for or commercializing our products.*
  • If important assumptions about the potential market for our products are inaccurate, or if we have failed to understand what people with insulin-dependent diabetes are seeking in an insulin pump, our business and operating results may be adversely affected.*
  • We expect to face complexities frequently encountered by companies in competitive and rapidly evolving markets, which may make it difficult to evaluate our business and forecast our future sales and operating results.*
  • Our ability to achieve profitability will depend, in part, on our ability to reduce the per-unit cost of our products while also increasing production volume.*
  • We depend on a limited number of third-party suppliers for certain components and products, and the loss of any of these suppliers, their inability to provide us with an adequate supply of components or products, or our ability to adequately forecast customer demand, could harm our business.*
  • Any disruption at one of our facilities could adversely affect our business and operating results.*
  • We may not experience the anticipated operating efficiencies from the transition of our manufacturing and warehousing operations.*
  • If we do not enhance our product portfolio to meet the demands of our market, we may fail to effectively compete, which may impede our ability to become profitable.*
  • Any concerns regarding the safety and efficacy of our products could limit sales and cause unforeseen negative effects to our business prospects and financial results.*
  • We may enter into collaborations, licensing arrangements, joint ventures, strategic alliances or partnerships with third parties that may not result in the development of commercially viable products or the generation of significant future revenues.
  • We operate our business in regions subject to natural disasters and other catastrophic events, and any disruption to our business resulting from natural disasters will adversely affect our revenue and results of operations.*
  • A security breach or other significant disruption to our information technology systems, or failures of our pumps’ software to perform as we anticipate, could materially disrupt our operations or result in the loss, theft, misuse, unauthorized disclosure, or unauthorized access to sensitive information relating to our customers, suppliers, employees or other individuals, which could damage our relationships, expose us to litigation or regulatory proceedings, or harm our reputation, any of which could have an adverse and material effect on our business, financial condition and operating results.*
  • We experienced a breach of our information technology systems in January 2020.*
  • If we are found to have violated laws concerning the privacy and security of patient health information or other personal information, we could be subject to civil or criminal penalties, which could increase our liabilities and harm our reputation or our business.*
  • We depend on the knowledge and skills of our senior management and other key employees, and if we are unable to retain and motivate them or recruit additional qualified personnel, our business may suffer.
  • We depend upon key employees in a competitive market, and if we are unable to provide meaningful equity incentives to retain key personnel, it could adversely affect our ability to execute our business strategy.
  • We began commercialization of our products outside of the United States, which may result in a variety of risks associated with international operations that could materially adversely affect our business.*
  • We may seek to grow our business through acquisitions of products or technologies, or investments in businesses, and the failure to successfully manage these acquisitions or investments, or the failure to integrate them with our existing business, could have a material adverse effect on our business, financial condition and operating results.*
  • We may need or otherwise determine to raise additional funds in the future and if we are unable to raise additional funds when necessary or desirable, we may not be able to achieve our strategic objectives.*
  • Our operating results may fluctuate significantly from quarter to quarter.*
  • Our ability to comprehensively protect our intellectual property and proprietary technology is uncertain.*
  • Patent litigation in the medical device industry is not uncommon, and from time to time, we may be subject to litigation that could be costly, result in the diversion of management’s time and efforts, or require us to pay damages.*
  • We may be subject to damages resulting from claims that we, or our employees, have wrongfully used or disclosed alleged trade secrets of our competitors or are in breach of non-competition or non-solicitation agreements with our competitors.
  • We may incur product liability losses, and insurance coverage may be inadequate or unavailable to cover these losses.*
  • Our products and operations are subject to extensive governmental regulation, and failure to comply with applicable requirements could cause our business to suffer.*
  • New products or modifications to our existing products may require new 510(k) clearances or PMAs, or may require us to cease marketing or recall the modified products until clearances are obtained.*
  • If we or our third-party suppliers, contract manufacturers and service providers fail to comply with the FDA’s good manufacturing practice regulations, this could impair our ability to market our products in a cost-effective and timely manner.*
  • A recall or suspension of our products, or the discovery of serious safety issues with our products, could have a significant negative impact on us.*
  • Our failure to comply with U.S. federal and state fraud and abuse laws, including anti-kickback laws and other U.S. federal and state anti-referral laws, could have a material, adverse impact on our business.*
  • We may be liable if we engage in the promotion of the off-label use of our products.*
  • Legislative or regulatory healthcare reforms may result in downward pressure on the price of and decrease reimbursement for our products, and uncertainty regarding the healthcare regulatory environment could have a material adverse effect on our business.*
  • The price of our common stock may continue to fluctuate significantly.
  • Anti-takeover provisions in our organizational documents and Delaware law may discourage or prevent a change of control, even if an acquisition would be beneficial to our stockholders, which could reduce our stock price and prevent our stockholders from replacing or removing our current management.
  • Our board of directors is authorized to issue and designate shares of our preferred stock in additional series without stockholder approval.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • We do not intend to pay cash dividends.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would harm our business and the trading price of our common stock.
  • We may be at increased risk of securities class action litigation.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, our stock price and trading volume could decline.
  • We have indebtedness in the form of convertible senior notes, which could adversely affect our financial condition and our ability to respond to changes in our business.*
  • Servicing the Notes will require a significant amount of cash, and we may not have sufficient cash flow from our business to repay the Notes.
  • We may incur substantial additional debt or take other actions which could diminish our ability to make payments on the Notes.
  • The conditional conversion feature of the Notes may adversely affect our liquidity.
  • Conversion of the Notes will, to the extent we deliver shares upon conversion of such Notes, dilute the ownership interest of existing stockholders and may otherwise have a negative impact on the trading price of our common stock.
  • The fundamental change repurchase feature of the Notes may delay or prevent an otherwise beneficial takeover attempt.
  • We are subject to counterparty risk with respect to the Capped Call Transactions.
Management Discussion
  • Sales. For the three months ended June 30, 2021, sales were $172.1 million, which included $44.6 million of international sales. Sales were $109.2 million for the same period in 2020, which included $20.0 million of international sales.
  • The increase in worldwide sales of $62.9 million in the second quarter of 2021 compared to the second quarter of 2020 was driven by an 81% increase in worldwide pump shipments to 33,817 in the second quarter of 2021, compared to 18,687 in the second quarter of 2020, and a 47% increase in pump-related supply sales. Sales of pump-related supplies increased primarily due to 59% growth in our estimated worldwide installed base of customers.
  • Domestic pump sales were $80.0 million for the second quarter of 2021, compared to $56.4 million in the second quarter of 2020, as pump shipments increased 40% compared to the same period in the prior year due to continued strong demand for our products following the January 2020 domestic launch of our t:slim X2 insulin pump with Control-IQ technology. Domestic pump shipments were 20,665 in the second quarter of 2021, compared to 14,735 in the second quarter of 2020. Sales of pump-related supplies increased primarily due to a 48% increase in our estimated domestic installed base of customers. Sales to distributors accounted for 68% and 71% of our total domestic sales for the three months ended June 30, 2021 and 2020, respectively. Our percentage of sales to distributors versus individual customers is principally determined by the mix of customers ordering our products within the period and whether or not we have a contractual arrangement with their underlying third-party insurance payor.
Content analysis
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Readability
H.S. senior Good
New words: awardee, binding, coincident, coinciding, copper, Costa, discretionary, Europe, gradual, gradually, Kingdom, meaningfully, Memorandum, met, occupancy, phase, predefined, proven, relaxation, relaxed, resolve, resurgence, Rica, slightly, token, underestimate, vacation, vaccination
Removed: bring, collectability, committed, composition, extraordinary, gain, innovate, mitigation, opening, physical, requiring, supportable