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Tandem Diabetes Care Inc. (TNDM)

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Tandem Diabetes Care Inc. (TNDM) reported revenue of $255 million for Q2 FY2026, the quarter ended 30 June 2026, up 5.8% on the same quarter a year earlier. Net income was -$21 million, and diluted earnings per share $-0.31. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$255 millionup 5.8%
Net income-$21 million
Diluted EPS$-0.31
QuarterQ2 FY2026ended 30 June 2026

Tandem Diabetes Care (TNDM) in brief

Tandem Diabetes Care (TNDM) reported revenue of $1.0 billion for fiscal 2025, the year ended 31 December 2025, up 7.9% on the year before.
Read moreNet loss was $205 million and the diluted loss per share $3.04. Revenue was $940 million in fiscal 2024, $748 million in fiscal 2023, $801 million in fiscal 2022 and $703 million in fiscal 2021. Net income in the same years was a loss of $96 million, a loss of $223 million, a loss of $95 million and $16 million. Over the twelve months to 30 June 2026, Tandem Diabetes Care reported revenue of $1.0 billion and net loss of $63 million. Revenue grew 15.3% a year, compounded, over the five years to fiscal 2025. Tandem Diabetes Care had 70 million shares outstanding at the latest filed count. At 30 June 2026 it carried $603 million of debt and $63 million of cash. At the close of 9 October 2026 the market cap of Tandem Diabetes Care was $1.1 billion.

Ratios

From the filings

ROE-48.6%
ROCE-6.2%
Operating margin-4.4%
Net margin-6.1%
FCF margin-2.6%
Interest cover-5.21
Debt to equity4.62
Cash conversionn/a
Share count, 1 year3.0%
Sales CAGR, 3 years8.2%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.93

At the close of 9 October 2026

Price$16.11
Market cap$1.1 billion
Stock P/En/a
Price to book8.59
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales1.08
52-week high$28.26
52-week low$12.82
Price, 1 year8.7%
Price CAGR, 3 years-6.1%
Price CAGR, 5 years-33.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Tandem Diabetes Care Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
TNDMgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TNDM

Filings19 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 officer or director change; 1 change to security holders' rights; 1 shareholder vote; 1 material agreement
Planned insider sales6 Form 144 notices in twelve months, $22,994; latest 17 September 2026
Options tapeput/call 0.63 by open interest at the 9 October 2026 close; the straddle prices a 11.5% move to 16 October 2026
13F holders6 of the followed funds hold it; largest Citadel Advisors; 7 Schedule 13D or 13G filings in twelve months
Insider trading2 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest13.4 million shares short, 5.25 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue186197192222244283234241249290247255
Cost of revenue95.910497.0109119125116115115123110110
Gross profit89.893.394.7113125157118126134167137145
Gross margin48%47%49%51%51%56%51%52%54%58%55%57%
R&D42.042.646.249.351.152.250.248.148.746.146.046.9
SG&A79.385.890.194.299.6106114110108113108112
Operating income-31.5-35.1-41.7-30.8-26.1-0.6-121-51.8-22.98.3-17.4-13.8
Operating margin-17%-18%-22%-14%-11%-0%-52%-22%-9%3%-7%-5%
Interest expense4.8n/a1.91.81.91.91.91.92.12.12.22.5
Pre-tax income-30.7-31.3-39.5-29.7-22.60.0-122-57.7-25.14.7-19.9-20.7
Tax raten/an/an/an/an/a-4619%n/an/an/a113%n/an/a
Net income-33.0-30.0-42.7-30.8-23.30.8-131-52.4-21.2-0.6-20.4-21.2
Net margin-18%-15%-22%-14%-10%0%-56%-22%-8%-0%-8%-8%
Diluted EPS-$0.51-$0.46-$0.65-$0.47-$0.35$0.01-$1.97-$0.78-$0.31-$0.01-$0.30-$0.31
Operating cash flow0.1-7.2-8.0-5.326.810.7-18.3-9.58.39.811.1-34.6
Capital expenditure5.45.24.56.55.23.13.06.24.16.76.34.0
Free cash flow-5.3-12.4-12.5-11.721.57.6-21.2-15.74.23.14.8-38.7
Buybacksn/an/a30.00.00.00.00.00.00.00.0n/an/a
Shares outstanding65m66m65m65m66m66m67m68m68m68m69m70m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue49.772.884.21081843624997038017489401,0151,041
Cost of revenue34.546.360.763.594.0168238327388380451469458
Gross profit15.226.623.644.189.8194261376413368490546583
Gross margin30.7%36.5%28.0%41.0%48.9%53.6%52.2%53.5%51.5%49.2%52.1%53.8%56.0%
Research and development15.817.018.820.729.245.263.692.1139170199193188
Selling, general and administrative75.178.682.886.4105166205262336353390445441
Operating income-75.7-69.0-78.1-62.9-44.6-16.7-8.022.7-92.8-233-99.1-187-45.8
Operating margin-152.2%-94.7%-92.6%-58.5%-24.3%-4.6%-1.6%3.2%-11.6%-31.2%-10.5%-18.5%-4.4%
Interest expensen/an/an/an/an/an/an/an/a6.29.97.47.98.8
Pre-tax income-79.5-72.4-83.5-73.0-123-24.6-36.315.9-92.9-220-91.9-200-61.0
Income tax0.10.0-0.00.00.10.1-1.90.31.72.44.24.42.3
Effective tax raten/an/an/an/an/an/an/a2.1%n/an/an/an/an/a
Net income-79.5-72.4-83.4-73.0-123-24.8-34.415.6-94.6-223-96.0-205-63.3
Net margin-159.9%-99.4%-99.0%-67.9%-66.7%-6.8%-6.9%2.2%-11.8%-29.8%-10.2%-20.2%-6.1%
Diluted EPS-$34.20-$25.00-$27.30-$12.87-$2.55-$0.42-$0.56$0.24-$1.47-$3.43-$1.47-$3.04-$0.93
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Supplies and other40747655154.3%
Pump36643446445.7%
Net sales recognized (deferred) for Tandem Choice program-25.130.20.00.0%
From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States55567370769.7%
International19326830830.3%
United StatesInternational
748FY2023940FY20241,015FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-61.4-58.8-61.2-66.1-8.341.924.711150.5-31.824.2-9.7-5.5
Capital expenditure4.45.88.95.73.019.527.414.234.126.819.219.921.1
Free cash flow-65.8-64.5-70.1-71.9-11.322.4-2.797.216.4-58.65.0-29.7-26.6
Free cash flow margin-132.3%-88.6%-83.2%-66.8%-6.1%6.2%-0.5%13.8%2.0%-7.8%0.5%-2.9%-2.6%
Cash from investingn/an/a10.42.8-90.7-57.0-296-18733.2-85.7-23.572.9-277
Cash from financingn/an/a52.340.411724.231451.916.94.18.4-43.4277
Depreciation and amortisation4.44.85.56.95.86.110.513.814.315.716.617.718.0
Share-based compensation15.013.111.712.623.758.158.460.884.988.110192.472.7
Buybacksn/an/an/an/an/an/an/an/a0.00.030.00.0n/a
Diluted shares, weightedn/an/an/an/an/a59m61m64m64m65m65m67m69m
Shares outstanding at period end2m3m3m10m58m59m62m64m65m66m66m68m70m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity54.663.5-5.9-29.1131195366433440314263155130
Debt30.030.281.182.7n/a0.0203281283285308310603
Operating lease liabilitiesn/an/an/an/an/a14.115.923.9124114106115116
Other liabilities21.931.137.241.875.0117131167206240290301305
Total liabilities and equity10612511295.32063267169051,0539539688811,154
Owned
Fixed assets12.615.518.419.617.232.950.050.468.676.578.283.684.5
Intangible assetsn/an/an/an/an/an/an/a6.64.62.80.911.7n/a
Investments36.128.08.90.587.2125390553444409369202393
Trading assets36.1n/an/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents31.243.144.713.741.851.294.671.217358.969.290.662.8
Receivables7.714.111.220.835.246.682.2111115106115165162
Inventory11.917.521.227.019.949.163.768.6111158150129135
Other assetsn/a6.58.113.85.021.135.545.0137142186199317
Total assets10612511295.32063267169051,0539539688811,154
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded30.1%15.3%8.2%4.0%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a-51.5%-79.8%-131.9%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Tandem Diabetes Care's revenue in fiscal 2025?

Tandem Diabetes Care (TNDM) reported revenue of $1.0 billion for fiscal 2025, the year ended 31 December 2025, up 7.9% on the year before.

How much did Tandem Diabetes Care earn in fiscal 2025?

Net loss was $205 million for fiscal 2025, and the diluted loss per share $3.04.

What is Tandem Diabetes Care's market cap?

The market cap of Tandem Diabetes Care was $1.1 billion at the close of 9 October 2026.

How much debt does Tandem Diabetes Care have?

At 30 June 2026 Tandem Diabetes Care carried $603 million of debt and $63 million of cash.

Peers: Medical Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Stryker Corp. SYK$106.4 billion28.7315.5%21.4%8.5%0.621.3%
3M Co. MMM$82.5 billion28.41101.5%18.4%2.3%3.691.8%
Boston Scientific Corp. BSX$61.9 billion17.3114.7%19.8%13.5%0.44n/a
Becton Dickinson & Co. BDX$50.0 billion55.343.9%9.6%-2.6%0.552.3%
Resmed Inc. RMD$33.2 billion22.0523.1%33.4%9.9%0.101.0%
Dexcom Inc. DXCM$31.7 billion33.2438.1%22.9%15.5%0.47n/a
West Pharmaceutical Services Inc. WST$25.8 billion46.8818.9%20.5%12.4%0.070.2%
Solventum Corp. SOLV$14.9 billion10.6829.9%25.0%-0.9%1.06n/a
Baxter International Inc. BAX$12.6 billionn/a-17.1%-2.4%5.4%1.522.1%
Penumbra Inc. PEN$12.6 billion78.4810.5%12.4%17.6%0.00n/a
Globus Medical Inc. GMED$10.0 billion19.0911.2%20.3%19.7%0.00n/a
Glaukos Corp. GKOS$9.7 billionn/a-27.6%-31.6%41.5%0.00n/a
All 44 in Medical Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$150.0 billion48.5617.3%31.3%20.7%0.00n/a
Medtronic plc MDT$113.3 billion21.7910.4%18.1%9.8%0.513.2%
Stryker Corp. SYK$106.4 billion28.7315.5%21.4%8.5%0.621.3%
3M Co. MMM$82.5 billion28.41101.5%18.4%2.3%3.691.8%
Boston Scientific Corp. BSX$61.9 billion17.3114.7%19.8%13.5%0.44n/a
Becton Dickinson & Co. BDX$50.0 billion55.343.9%9.6%-2.6%0.552.3%
Edwards Lifesciences Corp. EW$49.1 billion48.979.5%22.3%14.6%0.06n/a
Resmed Inc. RMD$33.2 billion22.0523.1%33.4%9.9%0.101.0%
Dexcom Inc. DXCM$31.7 billion33.2438.1%22.9%15.5%0.47n/a
GE HealthCare Technologies Inc. GEHC$29.9 billion15.0818.1%12.9%6.5%0.920.2%
West Pharmaceutical Services Inc. WST$25.8 billion46.8818.9%20.5%12.4%0.070.2%
Koninklijke Philips N.V. PHG *$23.3 billion23.158.2%8.0%-1.0%0.741.6%
Steris plc STE$20.9 billion26.2111.2%18.9%8.4%0.261.1%
Zimmer Biomet Holdings, Inc. ZBH$17.0 billion21.636.4%14.2%8.6%0.501.1%
Solventum Corp. SOLV$14.9 billion10.6829.9%25.0%-0.9%1.06n/a
Baxter International Inc. BAX$12.6 billionn/a-17.1%-2.4%5.4%1.522.1%
Penumbra Inc. PEN$12.6 billion78.4810.5%12.4%17.6%0.00n/a
Smith & Nephew plc SNN *$12.0 billion19.0211.8%12.9%6.1%0.592.8%
Cooper Companies, Inc. COO$10.3 billion18.566.8%12.8%4.7%0.310.0%
Align Technology Inc. ALGN$10.2 billion24.839.8%13.2%4.4%0.00n/a
Globus Medical Inc. GMED$10.0 billion19.0911.2%20.3%19.7%0.00n/a
Glaukos Corp. GKOS$9.7 billionn/a-27.6%-31.6%41.5%0.00n/a
Insulet Corp. PODD$9.4 billion25.2826.4%16.9%29.4%0.65n/a
MSA Safety Inc. MSA$7.0 billion22.4622.4%21.2%6.5%0.431.2%
Haemonetics Corp. HAE$5.4 billion58.2011.5%11.9%0.4%1.42n/a
Teleflex Inc. TFX$5.3 billionn/a-35.5%2.0%30.7%0.971.1%
Merit Medical Systems Inc. MMSI$5.2 billion36.048.7%12.8%10.2%0.44n/a
Integer Holdings Corp. ITGR$4.3 billion34.597.5%9.7%2.7%0.72n/a
LivaNova plc LIVN$4.2 billion22.6014.2%12.7%12.4%0.22n/a
ICU Medical Inc. ICUI$4.0 billion135.931.4%3.3%-9.0%0.57n/a
Envista Holdings Corp. NVST$3.7 billion39.643.1%9.6%11.9%0.47n/a
Warby Parker Inc. WRBY$3.2 billion361.362.0%0.2%11.0%0.00n/a
TransMedics Group, Inc. TMDX$2.7 billion20.1629.3%12.2%25.8%0.880.0%
UFP Technologies Inc. UFPT$2.2 billion31.1215.6%15.3%7.3%0.25n/a
Inspire Medical Systems, Inc. INSP$2.0 billion14.9216.4%6.0%4.3%0.00n/a
Lemaitre Vascular Inc. LMAT$1.8 billion28.3115.6%29.5%11.8%0.401.0%
Dentsply Sirona Inc. XRAY$1.8 billionn/a-40.4%-8.5%-0.8%1.487.2%
Conmed Corp. CNMD$1.3 billion24.015.4%8.0%3.4%0.631.4%
National Vision Holdings, Inc. EYE$1.3 billion27.315.6%4.1%7.8%0.26n/a
Tandem Diabetes Care Inc. TNDM$1.1 billionn/a-48.6%-4.4%4.0%4.62n/a
Staar Surgical Co. STAA$1.1 billion309.711.1%4.0%51.3%0.00n/a
Integra Lifesciences Holdings Corp. IART$1.0 billionn/a-0.7%4.0%1.6%1.79n/a
Artivion, Inc. AORT$1.0 billionn/a-0.7%4.4%16.4%0.820.0%
Enovis Corp. ENOV$1.0 billionn/a-74.6%-45.1%4.9%0.87n/a
22 companies share its SEC industry code (Surgical & Medical Instruments & Apparatus); the rest are the names nearest in size in its wider industry, Medical Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202519 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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