TNDM · Tandem Diabetes Care Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.01B | $940.20M | $747.72M | $801.22M | $702.80M | $498.83M |
| Cost of Revenue | $468.72M | $450.63M | $380.03M | $388.23M | $326.58M | $238.31M |
| Gross Profit | $546.01M | $489.57M | $367.69M | $412.99M | $376.21M | $260.52M |
| R&D | $193.11M | $198.88M | $169.67M | $63.57M | $92.05M | $63.57M |
| SG&A | $444.99M | $389.82M | $352.50M | $335.68M | $261.51M | $204.90M |
| Total Operating Expenses | $733.27M | $588.70M | $600.92M | $505.83M | $353.56M | $268.48M |
| D&A | $17.67M | $16.61M | $15.71M | $14.33M | $13.85M | $10.45M |
| Operating Income | ($187.26M) | ($99.13M) | ($233.23M) | ($92.85M) | $22.65M | ($7.96M) |
| Interest Expense | $7.91M | $7.42M | - | - | - | - |
| Income Tax | $4.44M | $4.16M | $2.36M | $1.74M | $335.0K | ($1.90M) |
| Net Income | ($204.71M) | ($96.03M) | ($222.61M) | ($94.59M) | $15.57M | ($34.38M) |
| EPS - Basic | ($3.04) | ($1.47) | ($3.43) | ($1.47) | ($0.56) | - |
| EPS - Diluted | ($3.04) | ($1.47) | ($3.43) | ($1.47) | ($0.56) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $90.63M | $69.23M | $58.87M | $172.52M | $71.18M | $94.61M |
| Accounts Receivable | $165.49M | $114.58M | $105.56M | $114.72M | $110.72M | $82.19M |
| Inventory | $128.77M | $149.61M | $157.94M | $111.12M | $68.55M | $63.72M |
| Accounts Payable | $47.07M | $44.73M | $49.59M | $55.73M | $28.03M | $17.80M |
| Current Assets | $618.14M | $724.49M | $747.99M | $849.98M | $811.52M | $637.24M |
| Total Assets | $881.11M | $967.66M | $952.66M | $1.05B | $905.14M | $716.41M |
| Current Liabilities | $242.72M | $247.05M | $195.26M | $165.29M | $131.86M | $103.85M |
| Long-term Debt | $310.04M | $308.27M | - | - | - | - |
| Total Liabilities | $725.94M | $704.56M | $639.03M | $612.84M | $472.02M | $350.11M |
| Stockholders' Equity | $155.17M | $263.10M | $313.63M | $439.95M | $433.11M | $366.31M |
| Retained Earnings | ($1.25B) | ($1.05B) | ($951.80M) | ($729.19M) | ($634.60M) | ($659.21M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($9.72M) | $24.23M | ($31.81M) | $50.46M | $111.36M | $24.67M |
| Investing Cash Flow | $72.88M | ($23.48M) | ($85.74M) | $33.17M | ($186.88M) | ($296.06M) |
| Financing Cash Flow | ($43.37M) | $8.37M | $4.11M | $16.88M | $51.93M | $314.44M |
| CapEx | $19.95M | $19.23M | $26.80M | $34.10M | $14.18M | $27.41M |
| Free Cash Flow | ($29.67M) | $4.99M | ($58.61M) | $16.37M | $97.18M | ($2.74M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 53.8% | 52.1% | 49.2% | 51.5% | 53.5% | 52.2% |
| Operating margin | -18.5% | -10.5% | -31.2% | -11.6% | 3.2% | -1.6% |
| EBITDA margin | -16.7% | -8.8% | -29.1% | -9.8% | 5.2% | 0.5% |
| Net margin | -20.2% | -10.2% | -29.8% | -11.8% | 2.2% | -6.9% |
| Free cash flow margin | -2.9% | 0.5% | -7.8% | 2.0% | 13.8% | -0.5% |
| FCF / Net income | 0.14 | -0.05 | 0.26 | -0.17 | 6.24 | 0.08 |
| R&D / Revenue | 19.0% | 21.2% | 22.7% | 7.9% | 13.1% | 12.7% |
| SG&A / Revenue | 43.9% | 41.5% | 47.1% | 41.9% | 37.2% | 41.1% |
| Effective tax rate | - | - | - | - | 2.1% | - |
| Return on assets | -23.2% | -9.9% | -23.4% | -9.0% | 1.7% | -4.8% |
| Return on equity | -131.9% | -36.5% | -71.0% | -21.5% | 3.6% | -9.4% |
| Return on invested capital | -31.8% | -13.7% | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.55 | 2.93 | 3.83 | 5.14 | 6.15 | 6.14 |
| Quick ratio | 2.02 | 2.33 | 3.02 | 4.47 | 5.63 | 5.52 |
| Cash ratio | 0.37 | 0.28 | 0.30 | 1.04 | 0.54 | 0.91 |
| Leverage | ||||||
| Debt / Equity | 2.00 | 1.17 | - | - | - | - |
| Debt / Assets | 0.35 | 0.32 | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -23.7x | -13.4x | - | - | - | - |
| Equity multiplier | 5.68 | 3.68 | 3.04 | 2.39 | 2.09 | 1.96 |
| Liabilities / Assets | 0.82 | 0.73 | 0.67 | 0.58 | 0.52 | 0.49 |
| Efficiency | ||||||
| Asset turnover | 1.15 | 0.97 | 0.78 | 0.76 | 0.78 | 0.70 |
| Inventory turnover | 3.64 | 3.01 | 2.41 | 3.49 | 4.76 | 3.74 |
| Days sales outstanding | 60d | 44d | 52d | 52d | 58d | 60d |
| Days inventory outstanding | 100d | 121d | 152d | 104d | 77d | 98d |
| Days payable outstanding | 37d | 36d | 48d | 52d | 31d | 27d |
| Cash conversion cycle | 123d | 129d | 156d | 104d | 103d | 130d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 9.5x | 9.0x | 6.1x | 6.6x | 21.2x | - |
| P / S | 1.5x | 2.5x | 2.6x | 3.6x | 13.1x | - |
| EV / EBITDA | - | - | - | - | 249.6x | - |
| Growth | ||||||
| Revenue growth (YoY) | 7.9% | 25.7% | -6.7% | 14.0% | 40.9% | 37.7% |
| Revenue CAGR (3y) | 8.2% | 10.2% | 14.4% | 30.3% | 102.8% | 66.7% |
| Revenue CAGR (5y) | 15.3% | 21.0% | 54.8% | 49.4% | 52.8% | 46.9% |
| Gross profit growth (YoY) | 11.5% | 33.1% | -11.0% | 9.8% | 44.4% | 34.1% |
| Operating income growth (YoY) | -88.9% | 57.5% | -151.2% | - | - | 52.4% |
| Net income growth (YoY) | -113.2% | 56.9% | -135.3% | - | - | -38.9% |
| EPS growth (YoY) | -106.8% | 57.1% | -133.3% | -162.5% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | -83.2% | - | - |
| FCF CAGR (5y) | - | -25.9% | - | - | - | - |
| Book value growth (YoY) | -41.0% | -16.1% | -28.7% | 1.6% | 18.2% | 87.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$1.01B totalSupplies And Other$550.60M · 54.3%
Pump$464.14M · 45.7%
Geographic
$1.01B totalUS$706.94M · 69.7%
Non Us$307.80M · 30.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.32
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing TANDEM DIABETES CARE INC against the 5 most active filers in the same SIC group.