Tandem Diabetes Care (TNDM) Financials

$14.11 -0.58 (-3.95%)

Closing price 05/13/2026 04:00 PM Eastern

Extended Trading

$14.22 +0.11 (+0.74%)

As of 06:35 AM Eastern

Annual Income Statements for Tandem Diabetes Care

This table shows Tandem Diabetes Care's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-72	-83	-73	-123	-25	-34	15	-96	-219	-99	-197
Consolidated Net Income / (Loss)	-72	-83	-73	-123	-25	-34	16	-95	-223	-96	-205
Net Income / (Loss) Continuing Operations	-72	-83	-73	-123	-25	-34	16	-95	-223	-96	-205
Total Pre-Tax Income	-72	-83	-73	-123	-25	-36	16	-93	-220	-92	-200
Total Operating Income	-69	-78	-63	-45	-17	-7.96	23	-93	-233	-99	-187
Total Gross Profit	27	24	44	90	194	261	376	413	368	490	546
Total Revenue	73	84	108	184	362	499	703	801	748	940	1,015
Operating Revenue	73	84	108	184	362	499	703	801	748	940	1,015
Total Cost of Revenue	46	61	64	94	168	238	327	388	380	451	469
Operating Cost of Revenue	46	61	64	94	168	238	327	388	380	451	469
Total Operating Expenses	96	102	107	134	211	268	354	506	601	589	733
Selling, General & Admin Expense	79	83	86	105	166	205	262	336	353	390	445
Research & Development Expense	17	19	21	29	45	64	92	170	248	199	268
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	0.00	0.00	20
Total Other Income / (Expense), net	-3.40	-5.41	-10	-78	-7.88	-28	-6.75	-0.00	13	7.26	-13
Interest Expense	3.74	5.71	11	13	0.00	13	6.04	6.21	9.88	8.68	7.91
Interest & Investment Income	0.34	0.30	0.24	1.44	3.19	1.57	0.67	6.06	23	16	-5.11
Income Tax Expense	0.01	-0.02	0.01	0.05	0.15	-1.90	0.34	1.74	2.36	4.16	4.44
Basic Earnings per Share	($25.04)	($27.30)	($12.87)	($2.55)	($0.42)	($0.56)	$0.25	($1.47)	($3.43)	($1.47)	($3.04)
Weighted Average Basic Shares Outstanding	2.89M	3.06M	5.68M	48.13M	58.51M	60.99M	63M	64.15M	64.97M	65.45M	67.29M
Diluted Earnings per Share	($25.04)	($27.30)	($12.87)	($2.55)	($0.42)	($0.56)	$0.24	($1.47)	($3.43)	($1.47)	($3.04)
Weighted Average Diluted Shares Outstanding	2.89M	3.06M	5.68M	48.13M	58.51M	60.99M	64.35M	64.15M	64.97M	65.45M	67.29M
Weighted Average Basic & Diluted Shares Outstanding	2.89M	3.06M	5.68M	48.13M	58.51M	60.99M	63.87M	64.53M	65.63M	66.47M	68.33M

This table shows Tandem Diabetes Care's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-34	-26	-45	-31	-23	0.06	-129	-49	-20	-0.16	-21
Consolidated Net Income / (Loss)	-33	-30	-43	-31	-23	0.76	-131	-52	-21	-0.59	-20
Net Income / (Loss) Continuing Operations	-33	-30	-43	-31	-23	0.76	-131	-52	-21	-0.59	-20
Total Pre-Tax Income	-31	-31	-40	-30	-23	0.02	-122	-58	-25	4.68	-20
Total Operating Income	-32	-35	-42	-31	-26	-0.58	-121	-52	-23	8.29	-17
Total Gross Profit	90	93	95	113	125	157	118	126	134	167	137
Total Revenue	186	197	192	222	244	283	234	241	249	290	247
Operating Revenue	186	197	192	222	244	283	234	241	249	290	247
Total Cost of Revenue	96	104	97	109	119	125	116	115	115	123	110
Operating Cost of Revenue	96	104	97	109	119	125	116	115	115	123	110
Total Operating Expenses	121	128	136	144	151	158	239	178	157	159	154
Selling, General & Admin Expense	79	86	90	94	100	106	114	110	108	113	108
Research & Development Expense	42	43	46	49	51	52	125	48	49	46	46
Total Other Income / (Expense), net	0.82	3.75	2.15	1.03	3.48	0.60	-1.21	-5.91	-2.28	-3.61	-2.44
Interest Expense	4.84	1.80	3.17	1.79	1.87	1.86	1.86	1.91	2.07	2.08	2.20
Interest & Investment Income	5.66	5.55	5.31	2.82	5.34	2.46	0.65	-4.01	-0.22	-1.54	-0.24
Income Tax Expense	2.23	-1.31	3.19	1.07	0.64	-0.74	8.47	-5.32	-3.98	5.27	0.52
Basic Earnings per Share	($0.51)	($0.45)	($0.65)	($0.47)	($0.35)	-	($1.97)	($0.78)	($0.31)	$0.02	($0.30)
Weighted Average Basic Shares Outstanding	65.12M	64.97M	65.33M	64.99M	65.54M	65.45M	66.40M	67.05M	67.65M	67.29M	68.40M
Diluted Earnings per Share	($0.51)	($0.45)	($0.65)	($0.47)	($0.35)	-	($1.97)	($0.78)	($0.31)	$0.02	($0.30)
Weighted Average Diluted Shares Outstanding	65.12M	64.97M	65.33M	64.99M	65.54M	65.45M	66.40M	67.05M	67.65M	67.29M	68.40M
Weighted Average Basic & Diluted Shares Outstanding	65.21M	65.63M	64.59M	65.46M	65.68M	66.47M	66.61M	67.57M	67.80M	68.33M	68.53M

This table details how cash moves in and out of Tandem Diabetes Care's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	12	1.59	-23	18	9.35	43	-23	101	-114	10	21
Net Cash From Operating Activities	-59	-61	-66	-8.32	42	25	111	50	-32	24	-9.72
Net Cash From Continuing Operating Activities	-59	-61	-66	-8.32	42	25	111	50	-32	24	-9.72
Net Income / (Loss) Continuing Operations	-72	-83	-73	-123	-25	-34	16	-95	-223	-96	-205
Consolidated Net Income / (Loss)	-72	-83	-73	-123	-25	-34	16	-95	-223	-96	-205
Depreciation Expense	4.83	5.49	6.87	5.82	6.07	10	14	14	16	17	18
Amortization Expense	0.14	0.19	1.87	2.26	-0.57	8.80	2.09	6.08	5.79	-0.23	-1.97
Non-Cash Adjustments To Reconcile Net Income	14	17	14	98	78	79	63	128	186	117	198
Changes in Operating Assets and Liabilities, net	-5.04	0.03	-16	8.61	-17	-39	17	-3.66	-17	-13	-19
Net Cash From Investing Activities	2.42	10	2.78	-91	-57	-296	-187	33	-86	-23	73
Net Cash From Continuing Investing Activities	2.42	10	2.78	-91	-57	-296	-187	33	-86	-23	73
Purchase of Property, Plant & Equipment	-5.76	-8.93	-5.72	-2.99	-20	-27	-14	-34	-27	-19	-20
Acquisitions	-0.07	-	-	0.00	-	0.00	0.00	-26	-69	0.00	-79
Purchase of Investments	-80	-31	0.00	-124	-165	-502	-733	-468	-536	-311	-86
Sale and/or Maturity of Investments	88	50	8.50	36	127	233	570	569	546	306	257
Net Cash From Financing Activities	68	52	40	117	24	314	52	17	4.11	8.37	-43
Net Cash From Continuing Financing Activities	68	52	40	117	24	314	52	17	4.11	8.37	-43
Repayment of Debt	-	-	0.00	-88	-	0.00	0.00	-0.59	-0.07	-246	-41
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	0.00	-30	0.00
Issuance of Debt	-	50	-	0.00	0.00	279	-	0.00	0.00	307	0.00
Other Financing Activities, net	65	-	0.00	203	0.33	-31	0.59	0.00	4.18	-23	-2.61
Effect of Exchange Rate Changes	-	-	-	-	0.19	0.39	0.15	0.83	-0.21	1.26	1.61
Cash Interest Paid	3.35	4.40	7.88	11	0.00	2.71	4.31	4.31	7.57	3.08	5.05
Cash Income Taxes Paid	0.01	0.02	0.02	0.02	0.07	0.18	0.26	0.41	1.92	3.10	5.06

This table details how cash moves in and out of Tandem Diabetes Care's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-51	-21	0.11	-11	1.34	20	-16	11	28	-1.31	89
Net Cash From Operating Activities	0.06	-7.22	-8.00	-5.28	27	11	-18	-9.50	8.26	9.79	11
Net Cash From Continuing Operating Activities	0.06	-7.22	-8.00	-5.28	27	11	-18	-9.50	8.26	9.79	11
Net Income / (Loss) Continuing Operations	-33	-30	-43	-31	-23	0.76	-131	-52	-21	-0.59	-20
Consolidated Net Income / (Loss)	-33	-30	-43	-31	-23	0.76	-131	-52	-21	-0.59	-20
Depreciation Expense	4.02	4.03	4.04	4.11	4.21	4.25	4.31	4.37	4.49	4.50	4.50
Amortization Expense	2.12	0.90	0.22	1.22	-0.44	-1.22	-0.64	-0.17	0.14	-1.30	-0.17
Non-Cash Adjustments To Reconcile Net Income	22	24	26	28	30	33	112	31	27	27	22
Changes in Operating Assets and Liabilities, net	4.82	-6.36	4.96	-8.21	16	-26	-3.77	7.54	-2.24	-20	5.48
Net Cash From Investing Activities	-49	-17	-5.06	-3.54	-20	5.01	9.19	58	21	-15	-195
Net Cash From Continuing Investing Activities	-49	-17	-5.06	-3.54	-20	5.01	9.19	58	21	-15	-195
Purchase of Property, Plant & Equipment	-5.40	-5.20	-4.46	-6.47	-5.24	-3.07	-2.97	-6.21	-4.09	-6.69	-6.27
Acquisitions	-	-	0.00	-	-	-	-43	-	-	-35	0.00
Purchase of Investments	-156	-120	-84	-93	-74	-13	-9.45	-17	-30	-30	-216
Sale and/or Maturity of Investments	112	131	84	96	59	67	65	81	54	56	27
Net Cash From Financing Activities	-1.91	2.62	14	-3.00	-4.52	2.30	-4.69	-40	-1.57	2.60	274
Net Cash From Continuing Financing Activities	-1.91	2.62	14	-3.00	-4.52	2.30	-4.69	-40	-1.57	2.60	274
Issuance of Debt	-	-	307	-	-	-	0.00	-	-	-	291
Other Financing Activities, net	-	-	-17	-	-	-	-4.69	1.05	-1.57	2.60	-17
Effect of Exchange Rate Changes	-0.76	0.44	-0.42	0.54	-1.02	2.17	-1.88	1.62	0.61	1.27	-1.08
Cash Income Taxes Paid	-	0.15	0.27	0.91	0.12	1.80	1.56	3.33	0.05	0.12	0.00

This table presents Tandem Diabetes Care's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	125	112	95	206	326	716	905	1,053	953	968	881
Total Current Assets	107	92	64	188	276	637	812	850	748	724	618
Cash & Equivalents	43	45	14	42	51	95	71	173	59	69	91
Short-Term Investments	28	8.86	0.48	87	125	390	553	444	409	369	202
Accounts Receivable	14	11	21	35	47	82	111	115	106	115	165
Inventories, net	18	21	27	20	49	64	69	111	158	150	129
Prepaid Expenses	2.28	4.19	2.19	3.77	4.03	6.38	8.43	7.24	17	22	31
Plant, Property, & Equipment, net	16	18	20	17	33	50	50	69	77	78	84
Total Noncurrent Assets	2.22	1.89	12	1.26	17	29	43	134	128	165	179
Long-Term Investments	-	-	-	-	-	-	-	-	0.00	75	60
Other Noncurrent Operating Assets	0.11	0.11	0.10	1.26	17	29	43	134	128	90	119
Total Liabilities & Shareholders' Equity	125	112	95	206	326	716	905	1,053	953	968	881
Total Liabilities	61	118	124	75	131	350	472	613	639	705	726
Total Current Liabilities	27	31	36	66	99	104	132	165	195	247	243
Accounts Payable	5.23	7.51	5.15	6.82	18	18	28	56	50	45	47
Accrued Expenses	2.12	1.63	2.83	3.93	8.01	4.78	9.42	9.60	13	18	21
Current Deferred Revenue	1.82	5.21	2.53	4.60	3.87	6.08	10	19	44	12	9.53
Current Employee Benefit Liabilities	12	10	14	24	28	34	52	39	43	64	70
Other Current Liabilities	5.58	6.94	11	27	41	41	33	42	46	68	95
Total Noncurrent Liabilities	35	87	88	8.73	32	246	340	448	444	458	483
Long-Term Debt	29	79	77	-	0.00	203	281	283	285	308	310
Noncurrent Deferred Revenue	2.74	2.61	4.69	-	-	-	17	17	13	10	8.47
Other Noncurrent Operating Liabilities	2.72	5.27	7.18	8.73	32	43	42	147	145	139	165
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	63	-5.93	-29	131	195	366	433	440	314	263	155
Total Preferred & Common Equity	63	-5.93	-29	131	195	366	433	440	314	263	155
Total Common Equity	63	-5.93	-29	131	195	366	433	440	314	263	155
Common Stock	385	399	448	731	820	1,025	1,068	1,171	1,264	1,313	1,402
Retained Earnings	-321	-405	-478	-600	-625	-659	-635	-729	-952	-1,048	-1,253
Accumulated Other Comprehensive Income / (Loss)	0.02	-0.00	-	-0.01	0.12	0.22	-0.62	-1.82	1.37	-1.95	5.59

This table presents Tandem Diabetes Care's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,048	954	947	940	941	938	958	922	876	875	1,153
Total Current Assets	834	758	764	758	735	733	753	663	615	617	887
Cash & Equivalents	124	128	131	80	59	48	49	54	64	92	179
Short-Term Investments	485	392	376	419	409	405	424	315	251	227	391
Accounts Receivable	113	91	99	100	93	98	107	127	128	126	141
Inventories, net	105	132	148	143	154	162	152	141	143	137	126
Prepaid Expenses	8.00	15	11	16	21	21	20	27	28	35	50
Plant, Property, & Equipment, net	73	75	74	76	78	79	81	79	78	78	83
Total Noncurrent Assets	140	122	109	106	128	125	124	179	183	180	183
Long-Term Investments	-	-	-	-	-	-	-	71	68	65	56
Other Noncurrent Operating Assets	140	122	109	106	128	125	124	108	116	115	127
Total Liabilities & Shareholders' Equity	1,048	954	947	940	941	938	958	922	876	875	1,153
Total Liabilities	626	615	617	626	698	704	720	767	742	742	1,021
Total Current Liabilities	174	171	175	187	193	241	259	288	252	253	248
Accounts Payable	62	55	57	46	48	48	49	60	56	47	60
Accrued Expenses	7.90	10	13	14	11	13	12	14	14	13	19
Current Deferred Revenue	13	21	23	32	45	44	43	11	11	9.84	8.95
Current Employee Benefit Liabilities	48	39	35	44	42	43	59	50	52	64	56
Other Current Liabilities	43	46	46	52	48	52	56	113	120	118	104
Total Noncurrent Liabilities	452	444	443	439	505	463	461	479	491	489	773
Long-Term Debt	283	284	284	285	347	307	308	309	309	310	602
Noncurrent Deferred Revenue	19	16	15	14	12	12	11	9.86	9.58	8.82	7.99
Other Noncurrent Operating Liabilities	150	145	143	140	145	144	142	160	172	171	163
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	422	339	329	314	243	234	238	155	133	133	132
Total Preferred & Common Equity	422	339	329	314	243	234	238	155	133	133	132
Total Common Equity	422	339	329	314	243	234	238	155	133	133	132
Common Stock	1,140	1,192	1,219	1,238	1,239	1,260	1,282	1,334	1,360	1,380	1,400
Retained Earnings	-713	-853	-889	-922	-995	-1,025	-1,049	-1,178	-1,231	-1,252	-1,273
Accumulated Other Comprehensive Income / (Loss)	-5.06	-0.09	-1.19	-2.21	-0.94	-1.25	3.87	0.08	3.75	5.17	5.04

This table displays calculated financial ratios and metrics derived from Tandem Diabetes Care's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	46.51%	15.65%	27.72%	70.88%	97.05%	37.68%	40.89%	14.00%	-6.68%	25.74%	7.93%
EBITDA Growth	9.95%	-13.02%	26.51%	-93.73%	78.37%	74.01%	742.22%	-294.30%	-192.89%	60.92%	-107.32%
EBIT Growth	8.80%	-13.11%	20.66%	-79.46%	74.99%	9.90%	184.92%	-535.89%	-151.59%	57.50%	-88.91%
NOPAT Growth	8.80%	-13.11%	19.36%	29.09%	62.53%	52.42%	498.14%	-393.08%	-151.20%	57.50%	-88.91%
Net Income Growth	8.94%	-15.23%	12.48%	-67.88%	79.81%	-38.90%	145.27%	-707.70%	-135.33%	56.86%	-113.18%
EPS Growth	8.94%	-15.23%	52.86%	80.19%	83.53%	-33.33%	142.86%	-712.50%	-133.33%	57.14%	-106.80%
Operating Cash Flow Growth	4.26%	-4.10%	-8.11%	87.42%	603.74%	-41.13%	351.41%	-54.68%	-163.04%	176.16%	-140.13%
Free Cash Flow Firm Growth	1.99%	1.35%	5.17%	79.36%	-172.28%	-155.20%	122.07%	-610.79%	-133.20%	79.87%	-281.30%
Invested Capital Growth	33.31%	-10.91%	32.69%	-90.32%	723.89%	355.45%	7.60%	17.09%	23.03%	-24.16%	13.14%
Revenue Q/Q Growth	18.23%	-0.25%	11.83%	24.27%	9.75%	13.59%	6.34%	1.33%	-3.07%	10.05%	0.77%
EBITDA Q/Q Growth	8.86%	-2.66%	10.03%	-127.76%	-4.87%	81.56%	-24.10%	-70.23%	-8.90%	28.24%	5.01%
EBIT Q/Q Growth	8.34%	-2.80%	7.17%	-102.88%	-4.47%	43.86%	-29.21%	-48.72%	-8.00%	25.81%	4.53%
NOPAT Q/Q Growth	8.34%	-2.80%	5.64%	18.52%	8.65%	67.49%	-22.27%	-48.96%	-8.00%	25.81%	4.53%
Net Income Q/Q Growth	8.09%	-3.38%	4.47%	10.96%	-4.36%	29.44%	-28.46%	-39.25%	-6.79%	24.26%	-0.66%
EPS Q/Q Growth	8.09%	-3.38%	12.63%	-2.82%	-5.00%	30.00%	-33.33%	-38.68%	-6.52%	23.44%	0.65%
Operating Cash Flow Q/Q Growth	5.30%	-5.77%	2.85%	75.60%	14.51%	-14.57%	4.11%	-21.49%	-69.44%	285.01%	-10.55%
Free Cash Flow Firm Q/Q Growth	2.65%	-5.06%	14.17%	31.90%	-33.15%	-4.65%	12.75%	-26.14%	-20.57%	64.33%	-73.64%
Invested Capital Q/Q Growth	15.63%	26.78%	-7.51%	21.65%	84.34%	37.96%	19.92%	10.84%	30.21%	-12.12%	91.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.49%	28.00%	40.98%	48.85%	53.60%	52.23%	53.53%	51.54%	49.18%	52.07%	53.81%
EBITDA Margin	-87.90%	-85.90%	-49.43%	-56.04%	-6.15%	-1.16%	5.29%	-9.02%	-28.32%	-8.80%	-16.91%
Operating Margin	-94.72%	-92.64%	-58.50%	-24.27%	-4.62%	-1.60%	3.22%	-11.59%	-31.19%	-10.54%	-18.45%
EBIT Margin	-94.72%	-92.64%	-57.55%	-60.44%	-7.67%	-5.02%	3.03%	-11.57%	-31.19%	-10.54%	-18.45%
Profit (Net Income) Margin	-99.41%	-99.05%	-67.87%	-66.69%	-6.83%	-6.89%	2.21%	-11.81%	-29.77%	-10.21%	-20.17%
Tax Burden Percent	100.01%	99.98%	100.01%	100.04%	100.61%	94.76%	97.89%	101.88%	101.07%	104.52%	102.22%
Interest Burden Percent	104.93%	106.93%	117.93%	110.29%	88.51%	144.87%	74.77%	100.16%	94.44%	92.68%	106.95%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-281.10%	-294.28%	-216.47%	-245.40%	-112.72%	-10.83%	25.33%	-65.97%	-137.75%	-60.36%	-124.04%
ROIC Less NNEP Spread (ROIC-NNEP)	-223.46%	-11.94%	-292.93%	-7.04%	-104.18%	1.74%	27.44%	-57.21%	-114.77%	-45.00%	-52.87%
Return on Net Nonoperating Assets (RNNOA)	158.40%	4.23%	632.91%	5.28%	97.55%	-1.42%	-21.43%	44.30%	78.67%	27.06%	26.16%
Return on Equity (ROE)	-122.70%	-290.04%	416.44%	-240.11%	-15.17%	-12.25%	3.89%	-21.67%	-59.08%	-33.30%	-97.88%
Cash Return on Invested Capital (CROIC)	-309.66%	-282.74%	-244.56%	-80.71%	-269.42%	-138.81%	18.00%	-81.71%	-158.41%	-32.88%	-136.37%
Operating Return on Assets (OROA)	-59.69%	-65.83%	-59.62%	-73.68%	-10.44%	-4.80%	2.62%	-9.47%	-23.26%	-10.32%	-20.26%
Return on Assets (ROA)	-62.65%	-70.38%	-70.31%	-81.30%	-9.30%	-6.60%	1.92%	-9.66%	-22.20%	-10.00%	-22.15%
Return on Common Equity (ROCE)	-122.70%	-290.04%	416.44%	-240.11%	-15.17%	-12.25%	3.89%	-21.67%	-59.08%	-33.30%	-97.88%
Return on Equity Simple (ROE_SIMPLE)	-114.10%	1,407.91%	250.56%	-93.40%	-12.70%	-9.39%	3.59%	-21.50%	-70.98%	-36.50%	0.00%
Net Operating Profit after Tax (NOPAT)	-48	-55	-44	-31	-12	-5.57	22	-65	-163	-69	-131
NOPAT Margin	-66.30%	-64.85%	-40.95%	-16.99%	-3.23%	-1.12%	3.16%	-8.11%	-21.83%	-7.38%	-12.92%
Net Nonoperating Expense Percent (NNEP)	-57.64%	-282.34%	76.46%	-238.36%	-8.54%	-12.57%	-2.12%	-8.76%	-22.98%	-15.36%	-71.17%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-8.99%	-27.27%	-11.34%	-28.18%
Cost of Revenue to Revenue	63.51%	72.00%	59.02%	51.15%	46.40%	47.77%	46.47%	48.46%	50.83%	47.93%	46.19%
SG&A Expenses to Revenue	107.92%	98.32%	80.28%	57.23%	45.74%	41.08%	37.21%	41.90%	47.14%	41.46%	43.85%
R&D to Revenue	23.28%	22.33%	19.20%	15.90%	12.48%	12.74%	13.10%	21.24%	33.22%	21.15%	26.44%
Operating Expenses to Revenue	131.21%	120.65%	99.48%	73.13%	58.22%	53.82%	50.31%	63.13%	80.37%	62.61%	72.26%
Earnings before Interest and Taxes (EBIT)	-69	-78	-62	-111	-28	-25	21	-93	-233	-99	-187
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-64	-72	-53	-103	-22	-5.79	37	-72	-212	-83	-172
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.60	0.00	0.00	16.59	18.07	16.25	22.08	6.57	6.15	8.99	9.60
Price to Tangible Book Value (P/TBV)	5.79	0.00	0.00	16.59	18.07	16.25	22.08	6.57	6.15	8.99	9.60
Price to Revenue (P/Rev)	4.88	0.78	0.22	11.85	9.72	11.93	13.61	3.61	2.58	2.52	1.47
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	649.22	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	15.86	5.10	3.72	911.60	180.66	67.20	101.58	24.06	13.35	22.20	12.90
Enterprise Value to Revenue (EV/Rev)	4.27	1.06	0.80	11.15	9.24	11.36	13.12	3.19	2.34	2.34	1.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	247.84	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	433.56	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	415.80	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	79.85	229.80	82.80	50.66	0.00	90.89	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	585.04	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	-13.32	-2.63	0.00	0.00	0.55	0.65	0.64	0.91	1.33	2.00
Long-Term Debt to Equity	0.46	-13.32	-2.63	0.00	0.00	0.55	0.65	0.64	0.91	1.17	2.00
Financial Leverage	-0.71	-0.35	-2.16	-0.75	-0.94	-0.82	-0.78	-0.77	-0.69	-0.60	-0.49
Leverage Ratio	1.96	4.12	-5.92	2.95	1.63	1.86	2.03	2.24	2.66	3.33	4.42
Compound Leverage Factor	2.06	4.41	-6.98	3.26	1.44	2.69	1.52	2.25	2.51	3.09	4.73
Debt to Total Capital	31.57%	108.12%	161.50%	0.00%	0.00%	35.66%	39.39%	39.16%	47.61%	57.01%	66.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.65%	0.00%
Long-Term Debt to Total Capital	31.57%	108.12%	161.50%	0.00%	0.00%	35.66%	39.39%	39.16%	47.61%	50.37%	66.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.43%	-8.12%	-61.50%	100.00%	100.00%	64.34%	60.61%	60.84%	52.39%	42.99%	33.36%
Debt to EBITDA	-0.46	-1.09	-1.44	0.00	0.00	-35.04	7.57	-3.92	-1.35	-4.22	-1.81
Net Debt to EBITDA	0.68	-0.32	-1.17	0.00	0.00	48.67	-9.20	4.62	0.86	1.98	0.25
Long-Term Debt to EBITDA	-0.46	-1.09	-1.44	0.00	0.00	-35.04	7.57	-3.92	-1.35	-3.73	-1.81
Debt to NOPAT	-0.61	-1.45	-1.74	0.00	0.00	-36.44	12.69	-4.36	-1.75	-5.03	-2.37
Net Debt to NOPAT	0.91	-0.43	-1.42	0.00	0.00	50.62	-15.44	5.13	1.12	2.36	0.33
Long-Term Debt to NOPAT	-0.61	-1.45	-1.74	0.00	0.00	-36.44	12.69	-4.36	-1.75	-4.44	-2.37
Altman Z-Score	-0.59	-5.60	-7.56	13.17	14.92	10.38	12.93	3.11	1.09	1.72	0.20
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.03	2.93	1.78	2.83	2.78	6.14	6.15	5.14	3.83	2.93	2.55
Quick Ratio	3.21	2.06	0.97	2.48	2.24	5.46	5.57	4.43	2.94	2.24	1.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-53	-52	-50	-10	-28	-71	16	-81	-188	-38	-144
Operating Cash Flow to CapEx	-1,019.50%	-685.03%	-1,156.63%	-278.60%	214.45%	90.01%	785.32%	148.00%	-118.68%	125.97%	-48.73%
Free Cash Flow to Firm to Interest Expense	-14.22	-9.20	-4.39	-0.80	0.00	-5.58	2.61	-12.97	-19.00	-4.35	-18.23
Operating Cash Flow to Interest Expense	-15.71	-10.72	-5.83	-0.65	0.00	1.93	18.44	8.13	-3.22	2.79	-1.23
Operating Cash Flow Less CapEx to Interest Expense	-17.25	-12.28	-6.34	-0.88	0.00	-0.21	16.09	2.64	-5.93	0.58	-3.75
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.71	1.04	1.22	1.36	0.96	0.87	0.82	0.75	0.98	1.10
Accounts Receivable Turnover	6.71	6.68	6.73	6.57	8.86	7.75	7.29	7.11	6.79	8.54	7.25
Inventory Turnover	3.14	3.13	2.64	4.01	4.87	4.23	4.94	4.32	2.82	2.93	3.37
Fixed Asset Turnover	5.18	4.97	5.66	10.00	14.47	12.03	14.00	13.47	10.31	12.16	12.55
Accounts Payable Turnover	12.88	9.52	10.03	15.71	13.68	13.41	14.25	9.27	7.22	9.56	10.21
Days Sales Outstanding (DSO)	54.38	54.65	54.22	55.57	41.19	47.11	50.10	51.35	53.76	42.73	50.37
Days Inventory Outstanding (DIO)	116.18	116.55	138.48	90.99	74.88	86.38	73.92	84.46	129.21	124.55	108.39
Days Payable Outstanding (DPO)	28.33	38.35	36.39	23.24	26.67	27.22	25.61	39.37	50.58	38.20	35.74
Cash Conversion Cycle (CCC)	142.23	132.85	156.30	123.33	89.40	106.27	98.40	96.43	132.39	129.09	123.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	20	17	23	2.25	19	84	91	106	131	99	112
Invested Capital Turnover	4.24	4.54	5.29	14.44	34.89	9.70	8.03	8.13	6.31	8.18	9.60
Increase / (Decrease) in Invested Capital	4.91	-2.14	5.72	-21	16	66	6.42	16	24	-32	13
Enterprise Value (EV)	311	89	86	2,049	3,346	5,669	9,221	2,557	1,746	2,202	1,447
Market Capitalization	355	66	24	2,178	3,523	5,951	9,563	2,890	1,929	2,366	1,490
Book Value per Share	$2.11	($0.19)	($2.88)	$2.29	$3.30	$5.89	$6.82	$6.84	$4.81	$4.01	$2.29
Tangible Book Value per Share	$2.04	($0.25)	($3.02)	$2.29	$3.30	$5.89	$6.82	$6.84	$4.81	$4.01	$2.29
Total Capital	93	73	47	131	195	569	715	723	599	612	465
Total Debt	29	79	77	0.00	0.00	203	281	283	285	349	310
Total Long-Term Debt	29	79	77	0.00	0.00	203	281	283	285	308	310
Net Debt	-44	23	62	-129	-176	-282	-342	-334	-183	-164	-43
Capital Expenditures (CapEx)	5.76	8.93	5.72	2.99	20	27	14	34	27	19	20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7.36	5.08	14	-7.43	0.29	48	56	68	85	80	83
Debt-free Net Working Capital (DFNWC)	80	61	28	122	177	533	680	685	553	518	375
Net Working Capital (NWC)	80	61	28	122	177	533	680	685	553	477	375
Net Nonoperating Expense (NNE)	24	29	29	91	13	29	6.61	30	59	27	74
Net Nonoperating Obligations (NNO)	-44	23	52	-129	-176	-282	-342	-334	-183	-164	-43
Total Depreciation and Amortization (D&A)	4.97	5.68	8.73	8.08	5.51	19	16	20	22	16	16
Debt-free, Cash-free Net Working Capital to Revenue	10.10%	6.03%	12.91%	-4.04%	0.08%	9.71%	7.95%	8.46%	11.34%	8.49%	8.16%
Debt-free Net Working Capital to Revenue	110.45%	71.95%	26.09%	66.13%	48.78%	106.93%	96.71%	85.46%	73.92%	55.11%	37.00%
Net Working Capital to Revenue	110.45%	71.95%	26.09%	66.13%	48.78%	106.93%	96.71%	85.46%	73.92%	50.78%	37.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($25.00)	($27.30)	($12.87)	($2.55)	($0.42)	($0.56)	$0.25	($1.47)	($3.43)	($1.47)	($3.04)
Adjusted Weighted Average Basic Shares Outstanding	3.03M	3.13M	44.70M	57.72M	59.73M	62.50M	63M	64.15M	64.97M	65.45M	67.29M
Adjusted Diluted Earnings per Share	($25.00)	($27.30)	($12.87)	($2.55)	($0.42)	($0.56)	$0.24	($1.47)	($3.43)	($1.47)	($3.04)
Adjusted Weighted Average Diluted Shares Outstanding	3.03M	3.13M	44.70M	57.72M	59.73M	62.50M	64.35M	64.15M	64.97M	65.45M	67.29M
Adjusted Basic & Diluted Earnings per Share	($25.00)	($27.30)	($12.87)	($2.55)	($0.42)	($0.56)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.89M	3.06M	5.68M	48.13M	58.51M	60.99M	63.87M	64.53M	65.63M	66.47M	68.33M
Normalized Net Operating Profit after Tax (NOPAT)	-48	-55	-44	-31	-12	-5.57	22	-65	-163	-69	-117
Normalized NOPAT Margin	-66.30%	-64.85%	-40.95%	-16.99%	-3.23%	-1.12%	3.16%	-8.11%	-21.83%	-7.38%	-11.54%
Pre Tax Income Margin	-99.39%	-99.07%	-67.87%	-66.66%	-6.79%	-7.27%	2.26%	-11.59%	-29.46%	-9.77%	-19.74%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-18.45	-13.68	-5.46	-8.63	0.00	-1.96	3.52	-14.93	-23.60	-11.42	-23.68
NOPAT to Interest Expense	-12.91	-9.57	-3.89	-2.43	0.00	-0.44	3.67	-10.47	-16.52	-7.99	-16.58
EBIT Less CapEx to Interest Expense	-19.99	-15.24	-5.96	-8.86	0.00	-4.10	1.17	-20.42	-26.31	-13.63	-26.21
NOPAT Less CapEx to Interest Expense	-14.45	-11.14	-4.39	-2.66	0.00	-2.58	1.32	-15.96	-19.23	-10.21	-19.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-31.24%	0.00%

This table displays calculated financial ratios and metrics derived from Tandem Diabetes Care's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	68,325,927.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	68,325,927.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.31
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.25%	-10.75%	13.16%	13.27%	31.43%	43.62%	22.30%	8.46%	2.17%	2.74%	5.46%
EBITDA Growth	39.39%	-134.81%	69.73%	21.92%	12.11%	108.10%	-213.24%	-87.08%	18.34%	371.09%	88.82%
EBIT Growth	33.58%	-97.21%	67.39%	20.70%	17.28%	98.34%	-190.03%	-68.36%	12.38%	1,525.09%	85.58%
NOPAT Growth	33.58%	-97.21%	67.39%	20.70%	17.28%	-11.90%	-190.03%	-68.36%	12.38%	96.20%	85.58%
Net Income Growth	32.69%	-89.25%	65.52%	13.87%	29.46%	102.52%	-205.64%	-70.05%	8.97%	-178.01%	84.38%
EPS Growth	32.89%	-87.50%	66.15%	14.55%	31.37%	0.00%	-203.08%	-65.96%	11.43%	0.00%	84.77%
Operating Cash Flow Growth	-99.77%	-223.99%	56.37%	16.57%	48,589.09%	248.52%	-128.59%	-80.02%	-69.14%	-8.66%	160.48%
Free Cash Flow Firm Growth	50.18%	-75.35%	54.73%	-22.17%	-15.25%	108.43%	45.06%	175.16%	224.81%	-440.58%	-102.21%
Invested Capital Growth	4.74%	23.03%	19.36%	21.93%	12.36%	-24.16%	-46.96%	-54.06%	-48.12%	13.14%	65.01%
Revenue Q/Q Growth	-5.25%	6.02%	-2.60%	15.77%	9.94%	15.85%	-17.06%	2.67%	3.56%	16.50%	-14.86%
EBITDA Q/Q Growth	22.08%	-18.62%	-24.21%	31.99%	12.28%	110.93%	-4,905.66%	59.38%	61.71%	163.03%	-214.02%
EBIT Q/Q Growth	18.72%	-11.14%	-18.88%	26.16%	15.21%	97.77%	-20,669.42%	57.14%	55.87%	136.28%	-310.20%
NOPAT Q/Q Growth	18.72%	-11.14%	-18.88%	26.16%	15.21%	-50.36%	-208.10%	57.14%	55.87%	93.48%	-1,069.63%
Net Income Q/Q Growth	7.87%	8.98%	-42.37%	27.86%	24.54%	103.25%	-17,392.19%	59.86%	59.61%	97.22%	-3,362.31%
EPS Q/Q Growth	7.27%	11.76%	-44.44%	27.69%	25.53%	0.00%	0.00%	60.41%	60.26%	106.45%	-1,600.00%
Operating Cash Flow Q/Q Growth	100.87%	-13,220.00%	-10.81%	34.03%	607.66%	-59.98%	-270.55%	48.05%	187.03%	18.45%	12.92%
Free Cash Flow Firm Q/Q Growth	27.43%	-84.13%	-0.13%	8.69%	31.54%	113.47%	-752.65%	224.91%	13.69%	-136.75%	-287.49%
Invested Capital Q/Q Growth	-5.37%	30.21%	-6.12%	5.41%	-12.79%	-12.12%	-34.35%	-8.70%	-1.51%	91.65%	-4.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.35%	47.41%	49.39%	50.83%	51.09%	55.71%	50.51%	52.29%	53.88%	57.67%	55.33%
EBITDA Margin	-13.68%	-15.31%	-19.52%	-11.47%	-9.15%	0.86%	-50.00%	-19.78%	-7.31%	3.96%	-5.30%
Operating Margin	-16.99%	-17.82%	-21.74%	-13.87%	-10.70%	-0.21%	-51.56%	-21.53%	-9.17%	2.86%	-7.05%
EBIT Margin	-16.99%	-17.82%	-21.74%	-13.87%	-10.70%	-0.21%	-51.56%	-21.53%	-9.17%	2.86%	-7.05%
Profit (Net Income) Margin	-17.76%	-15.25%	-22.29%	-13.89%	-9.53%	0.27%	-55.69%	-21.77%	-8.49%	-0.20%	-8.25%
Tax Burden Percent	107.26%	95.82%	108.06%	103.60%	102.82%	4,718.75%	106.94%	90.78%	84.18%	-12.58%	102.60%
Interest Burden Percent	97.41%	89.30%	94.84%	96.65%	86.67%	-2.75%	101.00%	111.41%	109.97%	56.45%	114.01%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-4,618.75%	0.00%	0.00%	0.00%	112.58%	0.00%
Return on Invested Capital (ROIC)	-93.50%	-78.68%	-103.91%	-65.62%	-59.98%	-79.47%	-377.74%	-159.87%	-75.46%	-3.45%	-58.80%
ROIC Less NNEP Spread (ROIC-NNEP)	-89.46%	-76.56%	-96.30%	-59.96%	-57.04%	-95.74%	-334.09%	-141.78%	-70.28%	-3.89%	-44.58%
Return on Net Nonoperating Assets (RNNOA)	65.60%	52.48%	58.96%	34.88%	34.99%	57.57%	176.54%	68.86%	37.78%	1.92%	17.84%
Return on Equity (ROE)	-27.90%	-26.20%	-44.94%	-30.74%	-24.99%	-21.89%	-201.20%	-91.01%	-37.67%	-1.53%	-40.95%
Cash Return on Invested Capital (CROIC)	-158.64%	-158.41%	-108.93%	-102.43%	-99.35%	-32.88%	-71.52%	-73.72%	-96.85%	-136.37%	-117.07%
Operating Return on Assets (OROA)	-13.19%	-13.28%	-17.67%	-11.72%	-9.63%	-0.20%	-54.41%	-23.78%	-10.08%	3.14%	-6.98%
Return on Assets (ROA)	-13.78%	-11.37%	-18.11%	-11.73%	-8.58%	0.26%	-58.76%	-24.06%	-9.33%	-0.22%	-8.17%
Return on Common Equity (ROCE)	-27.90%	-26.20%	-44.94%	-30.74%	-24.99%	-21.89%	-201.20%	-91.01%	-37.67%	-1.53%	-40.95%
Return on Equity Simple (ROE_SIMPLE)	-66.39%	0.00%	-58.20%	-58.36%	-53.33%	0.00%	-118.40%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-25	-29	-22	-18	-27	-85	-36	-16	-1.04	-12
NOPAT Margin	-11.90%	-12.47%	-15.22%	-9.71%	-7.49%	-9.72%	-36.10%	-15.07%	-6.42%	-0.36%	-4.94%
Net Nonoperating Expense Percent (NNEP)	-4.03%	-2.11%	-7.60%	-5.66%	-2.95%	16.27%	-43.65%	-18.09%	-5.18%	0.44%	-14.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-4.10%	-	-	-	-4.49%	-16.76%	-8.20%	-3.62%	-0.22%	-1.66%
Cost of Revenue to Revenue	51.65%	52.59%	50.61%	49.17%	48.91%	44.29%	49.49%	47.71%	46.12%	42.33%	44.67%
SG&A Expenses to Revenue	42.74%	43.57%	47.01%	42.47%	40.84%	37.44%	48.57%	45.54%	43.51%	38.95%	43.76%
R&D to Revenue	22.61%	21.65%	24.13%	22.23%	20.95%	18.47%	53.51%	19.99%	19.54%	15.86%	18.62%
Operating Expenses to Revenue	65.35%	65.22%	71.14%	64.70%	61.79%	55.91%	102.07%	73.82%	63.05%	54.81%	62.38%
Earnings before Interest and Taxes (EBIT)	-32	-35	-42	-31	-26	-0.58	-121	-52	-23	8.29	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	-30	-37	-25	-22	2.44	-117	-48	-18	11	-13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.30	6.15	9.50	11.13	11.68	8.99	8.20	9.32	6.17	9.60	9.89
Price to Tangible Book Value (P/TBV)	4.30	6.15	9.50	11.13	11.68	8.99	8.20	9.32	6.17	9.60	9.89
Price to Revenue (P/Rev)	1.75	2.58	3.00	3.27	3.25	2.52	1.30	1.24	0.81	1.47	1.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	11.33	13.35	17.83	19.30	23.50	22.20	18.18	19.65	12.74	12.90	11.96
Enterprise Value to Revenue (EV/Rev)	1.48	2.34	2.84	3.14	3.10	2.34	1.20	1.17	0.74	1.43	1.25
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	421.41	90.89	84.88	120.11	0.00	0.00	65.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.91	0.91	1.43	1.49	1.47	1.33	2.25	2.32	2.33	2.00	4.55
Long-Term Debt to Equity	0.91	0.91	1.43	1.31	1.30	1.17	1.99	2.32	2.33	2.00	4.55
Financial Leverage	-0.73	-0.69	-0.61	-0.58	-0.61	-0.60	-0.53	-0.49	-0.54	-0.49	-0.40
Leverage Ratio	2.70	2.66	3.26	3.35	3.44	3.33	4.68	4.94	4.94	4.42	7.21
Compound Leverage Factor	2.63	2.38	3.09	3.23	2.98	-0.09	4.72	5.50	5.44	2.50	8.23
Debt to Total Capital	47.54%	47.61%	58.84%	59.80%	59.45%	57.01%	69.23%	69.87%	69.96%	66.64%	81.97%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	6.97%	6.93%	6.65%	8.07%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	47.54%	47.61%	58.84%	52.83%	52.52%	50.37%	61.16%	69.87%	69.96%	66.64%	81.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.46%	52.39%	41.16%	40.20%	40.55%	42.99%	30.77%	30.13%	30.04%	33.36%	18.03%
Debt to EBITDA	-1.46	-1.35	-2.77	-2.94	-3.02	-4.22	-2.15	-1.67	-1.71	-1.81	-8.92
Net Debt to EBITDA	1.10	0.86	0.96	0.88	1.08	1.98	0.55	0.40	0.41	0.25	0.37
Long-Term Debt to EBITDA	-1.46	-1.35	-2.77	-2.60	-2.67	-3.73	-1.90	-1.67	-1.71	-1.81	-8.92
Debt to NOPAT	-1.88	-1.75	-3.37	-3.57	-3.73	-5.03	-2.80	-2.22	-2.26	-2.37	-10.26
Net Debt to NOPAT	1.41	1.12	1.17	1.07	1.34	2.36	0.72	0.53	0.54	0.33	0.43
Long-Term Debt to NOPAT	-1.88	-1.75	-3.37	-3.16	-3.29	-4.44	-2.47	-2.22	-2.26	-2.37	-10.26
Altman Z-Score	1.36	1.77	1.87	2.06	2.20	2.06	0.33	0.48	0.22	0.94	0.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.05	3.83	3.81	3.05	2.90	2.93	2.30	2.44	2.44	2.55	3.58
Quick Ratio	3.20	2.94	2.91	2.29	2.24	2.24	1.72	1.76	1.76	1.89	2.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-27	-49	-49	-45	-31	4.13	-27	34	38	-14	-55
Operating Cash Flow to CapEx	1.02%	-138.80%	-179.40%	-81.58%	511.15%	349.20%	-616.46%	-153.01%	201.96%	146.43%	176.36%
Free Cash Flow to Firm to Interest Expense	-5.50	-27.19	-15.51	-25.00	-16.45	2.22	-14.48	17.68	18.54	-6.78	-24.74
Operating Cash Flow to Interest Expense	0.01	-4.00	-2.53	-2.94	14.36	5.76	-9.82	-4.98	4.00	4.72	5.02
Operating Cash Flow Less CapEx to Interest Expense	-1.10	-6.89	-3.93	-6.55	11.55	4.11	-11.41	-8.24	2.02	1.50	2.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.75	0.81	0.84	0.90	0.98	1.06	1.10	1.10	1.10	0.99
Accounts Receivable Turnover	7.24	6.79	8.35	8.09	8.23	8.54	8.96	8.84	8.64	7.25	7.69
Inventory Turnover	3.07	2.82	2.74	2.62	2.90	2.93	3.18	3.12	3.25	3.37	3.46
Fixed Asset Turnover	10.38	10.31	10.12	10.45	10.90	12.16	12.54	12.83	12.67	12.55	12.65
Accounts Payable Turnover	7.09	7.22	7.56	7.73	9.04	9.56	8.70	9.18	9.79	10.21	7.74
Days Sales Outstanding (DSO)	50.42	53.76	43.69	45.13	44.33	42.73	40.76	41.28	42.25	50.37	47.46
Days Inventory Outstanding (DIO)	118.76	129.21	133.39	139.19	125.91	124.55	114.66	116.80	112.26	108.39	105.43
Days Payable Outstanding (DPO)	51.51	50.58	48.31	47.19	40.38	38.20	41.95	39.78	37.29	35.74	47.15
Cash Conversion Cycle (CCC)	117.67	132.39	128.78	137.12	129.86	129.09	113.47	118.30	117.22	123.02	105.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	100	131	123	129	113	99	65	59	59	112	107
Invested Capital Turnover	7.86	6.31	6.83	6.76	8.01	8.18	10.47	10.61	11.75	9.60	11.91
Increase / (Decrease) in Invested Capital	4.54	24	20	23	12	-32	-58	-70	-54	13	42
Enterprise Value (EV)	1,138	1,746	2,189	2,498	2,651	2,202	1,183	1,168	746	1,447	1,285
Market Capitalization	1,352	1,929	2,309	2,602	2,776	2,366	1,274	1,242	820	1,490	1,310
Book Value per Share	$4.83	$4.81	$3.72	$3.62	$3.63	$4.01	$2.34	$2.00	$1.97	$2.29	$1.94
Tangible Book Value per Share	$4.83	$4.81	$3.72	$3.62	$3.63	$4.01	$2.34	$2.00	$1.97	$2.29	$1.94
Total Capital	599	599	591	582	586	612	505	442	443	465	734
Total Debt	285	285	347	348	348	349	349	309	310	310	602
Total Long-Term Debt	285	285	347	307	308	308	309	309	310	310	602
Net Debt	-214	-183	-120	-104	-125	-164	-90	-74	-74	-43	-25
Capital Expenditures (CapEx)	5.40	5.20	4.46	6.47	5.24	3.07	2.97	6.21	4.09	6.69	6.27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	73	85	74	81	61	80	47	48	45	83	69
Debt-free Net Working Capital (DFNWC)	571	553	542	533	534	518	416	363	364	375	639
Net Working Capital (NWC)	571	553	542	493	494	477	375	363	364	375	639
Net Nonoperating Expense (NNE)	11	5.46	14	9.27	4.99	-28	46	16	5.16	-0.45	8.19
Net Nonoperating Obligations (NNO)	-214	-183	-120	-104	-125	-164	-90	-74	-74	-43	-25
Total Depreciation and Amortization (D&A)	6.15	4.93	4.26	5.33	3.77	3.02	3.67	4.20	4.63	3.20	4.33
Debt-free, Cash-free Net Working Capital to Revenue	9.45%	11.34%	9.66%	10.16%	7.12%	8.49%	4.82%	4.77%	4.50%	8.16%	6.70%
Debt-free Net Working Capital to Revenue	74.02%	73.92%	70.42%	67.00%	62.52%	55.11%	42.32%	36.25%	36.19%	37.00%	62.20%
Net Working Capital to Revenue	74.02%	73.92%	70.42%	61.91%	57.77%	50.78%	38.18%	36.25%	36.19%	37.00%	62.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.51)	($0.45)	($0.65)	($0.47)	($0.35)	$0.00	($1.97)	($0.78)	($0.31)	$0.02	($0.30)
Adjusted Weighted Average Basic Shares Outstanding	65.12M	64.97M	65.33M	64.99M	65.54M	65.45M	66.40M	67.05M	67.65M	67.29M	68.40M
Adjusted Diluted Earnings per Share	($0.51)	($0.45)	($0.65)	($0.47)	($0.35)	$0.00	($1.97)	($0.78)	($0.31)	$0.02	($0.30)
Adjusted Weighted Average Diluted Shares Outstanding	65.12M	64.97M	65.33M	64.99M	65.54M	65.45M	66.40M	67.05M	67.65M	67.29M	68.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	65.21M	65.63M	64.59M	65.46M	65.68M	66.47M	66.61M	67.57M	67.80M	68.33M	68.53M
Normalized Net Operating Profit after Tax (NOPAT)	-22	-25	-29	-22	-18	-0.41	-85	-22	-16	5.81	-12
Normalized NOPAT Margin	-11.90%	-12.47%	-15.22%	-9.71%	-7.49%	-0.14%	-36.10%	-9.27%	-6.42%	2.00%	-4.94%
Pre Tax Income Margin	-16.55%	-15.91%	-20.62%	-13.40%	-9.27%	0.01%	-52.08%	-23.98%	-10.09%	1.61%	-8.04%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-6.52	-19.45	-13.17	-17.16	-13.99	-0.31	-64.92	-27.20	-11.07	4.00	-7.91
NOPAT to Interest Expense	-4.56	-13.61	-9.22	-12.01	-9.79	-14.77	-45.44	-19.04	-7.75	-0.50	-5.54
EBIT Less CapEx to Interest Expense	-7.63	-22.33	-14.58	-20.77	-16.80	-1.96	-66.51	-30.45	-13.05	0.78	-10.75
NOPAT Less CapEx to Interest Expense	-5.68	-16.50	-10.63	-15.62	-12.60	-16.42	-47.04	-22.30	-9.73	-3.72	-8.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-31.24%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Tandem Diabetes Care (NASDAQ: TNDM) based on the last four years of quarterly statements (through Q4 2025). The focus is on revenue, margins, cash flow, and balance-sheet liquidity that can matter for investors evaluating momentum and financial strength.

Revenue momentum in 2025: Operating revenue rose from the low- to mid-200s in earlier 2025 quarters to a quarterly peak of $290.383 million in Q4 2025, up meaningfully versus Q3 2025 ($249.253 million). This points to improving top-line momentum.
Gross margin improvement: Gross profit in Q4 2025 was $167.46 million on $290.38 million revenue, a gross margin of about 57.6%, up from the roughly 50% range seen earlier in the year. Margin expansion suggests better cost control or favorable product mix.
Operating income turned positive in Q4 2025: Operating income reached $8.29 million in Q4 2025, reversing a string of quarterly losses (Q3 2025: about -$22.86 million; Q2 2025: about -$51.81 million; Q1 2025: about -$120.88 million), signaling a meaningful turnaround in operating profitability.
Improving cash flow from operations: Cash flow from continuing operating activities was already positive by Q3 2025 (about $8.26 million) and rose to about $9.79 million in Q4 2025, improving the company’s liquidity profile.
Free cash flow in Q4 2025: After subtracting capex, estimated free cash flow in Q4 2025 was roughly $3.1 million (CFO from continuing operations ≈ $9.79 million minus capex for property, plant & equipment ≈ $6.69 million), indicating positive cash generation even as investing activity remained active.
Liquidity growth in 2025: Cash and cash equivalents increased through 2025, with the balance sheet showing about $91.9 million in cash & equivalents by Q3 2025 (and higher liquidity observed earlier in the year), supporting near-term liquidity needs.
Active investing activity contributing to cash: In Q4 2025, the company had substantial investment cash flows, with sale of investments around $56.49 million and purchases around $29.66 million, helping to bolster cash inflows from investing activities.
R&D and SG&A intensity: In Q4 2025, R&D was about $46.1 million and SG&A about $113.1 million on $290.4 million revenue, implying R&D around 16% of revenue and SG&A around 39%—investments remain meaningful but are trending toward managed levels as margins improve.
Net income remains negative: Despite improvements, net income attributable to common shareholders was still negative in Q4 2025 (about -$0.164 million) after sizable losses in prior quarters, underscoring ongoing earnings headwinds even as operating profitability improves.

05/14/26 06:38 AM ETAI Generated. May Contain Errors.

Tandem Diabetes Care Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Tandem Diabetes Care's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Tandem Diabetes Care's net income appears to be on an upward trend, with a most recent value of -$204.71 million in 2025, rising from -$72.42 million in 2015. The previous period was -$96.03 million in 2024. See Tandem Diabetes Care's forecast for analyst expectations on what's next for the company.

Tandem Diabetes Care's total operating income in 2025 was -$187.26 million, based on the following breakdown:

Total Gross Profit: $546.01 million
Total Operating Expenses: $733.27 million

Over the last 10 years, Tandem Diabetes Care's total revenue changed from $72.85 million in 2015 to $1.01 billion in 2025, a change of 1,292.9%.

Tandem Diabetes Care's total liabilities were at $725.94 million at the end of 2025, a 3.0% increase from 2024, and a 1,085.1% increase since 2015.

In the past 10 years, Tandem Diabetes Care's cash and equivalents has ranged from $13.70 million in 2017 to $172.52 million in 2022, and is currently $90.63 million as of their latest financial filing in 2025.

Over the last 10 years, Tandem Diabetes Care's book value per share changed from 2.11 in 2015 to 2.29 in 2025, a change of 8.4%.

Related Companies

Financial statements for NASDAQ:TNDM last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Tandem Diabetes Care (TNDM) Financials

Financials Breakdown Chart

Key Financial Trends

Tandem Diabetes Care Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Tandem Diabetes Care (TNDM) Financials

Annual Income Statements for Tandem Diabetes Care

Quarterly Income Statements for Tandem Diabetes Care

Annual Cash Flow Statements for Tandem Diabetes Care

Quarterly Cash Flow Statements for Tandem Diabetes Care

Annual Balance Sheets for Tandem Diabetes Care

Quarterly Balance Sheets for Tandem Diabetes Care

Annual Metrics And Ratios for Tandem Diabetes Care

Quarterly Metrics And Ratios for Tandem Diabetes Care

Financials Breakdown Chart

Key Financial Trends

Tandem Diabetes Care Financials - Frequently Asked Questions

When does Tandem Diabetes Care's fiscal year end?

How has Tandem Diabetes Care's net income changed over the last 10 years?

What is Tandem Diabetes Care's operating income?

How has Tandem Diabetes Care's revenue changed over the last 10 years?

How much debt does Tandem Diabetes Care have?

How much cash does Tandem Diabetes Care have?

How has Tandem Diabetes Care's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools