Tandem Diabetes Care Files Q3 2024 10-Q

TL;DR

Tandem Diabetes Care's Q3 2024 10-Q is in. Check financials.

AI Summary

Tandem Diabetes Care, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the diabetes care market.

Why It Matters

This filing provides investors and stakeholders with the latest financial health and operational performance of Tandem Diabetes Care, crucial for understanding the company's trajectory in the medical device sector.

Risk Assessment

Risk Level: medium — The company operates in the highly regulated medical device industry, facing competition and potential product development risks.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter for which financial data is reported.)
• 12/31 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• TANDEM DIABETES CARE INC (company) — Filer
• San Diego (location) — Business Address City
• 20240930 (date) — Period of Report
• 20241106 (date) — Filed as of Date

FAQ

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share TNDM Nasdaq Global Market _

Filing Documents

• tndm-20240930.htm (10-Q) — 1482KB
• tndm-20240930xex311.htm (EX-31.1) — 9KB
• tndm-20240930xex312.htm (EX-31.2) — 9KB
• tndm-20240930xex321.htm (EX-32.1) — 5KB
• tndm-20240930xex322.htm (EX-32.2) — 5KB
• 0001438133-24-000201.txt ( ) — 7138KB
• tndm-20240930.xsd (EX-101.SCH) — 46KB
• tndm-20240930_cal.xml (EX-101.CAL) — 79KB
• tndm-20240930_def.xml (EX-101.DEF) — 206KB
• tndm-20240930_lab.xml (EX-101.LAB) — 499KB
• tndm-20240930_pre.xml (EX-101.PRE) — 381KB
• tndm-20240930_htm.xml (XML) — 1047KB

Financial Information 1

Part I Financial Information 1

Financial Statements 1

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets at September 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Notes to Unaudited Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk 36

Item 3 Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures 36

Item 4 Controls and Procedures 36

Other Information 37

Part II Other Information 37

Legal Proceedings 37

Item 1 Legal Proceedings 37

Risk Factors 37

Item 1A Risk Factors 37 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 76

Other Information 76

Item 5 Other Information 76

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. TANDEM DIABETES CARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) September 30, December 31, 2024 2023 Assets (Unaudited) (Note 1) Current assets: Cash and cash equivalents $ 49,039 $ 58,868 Short-term investments 424,266 409,044 Accounts receivable, net 107,188 105,555 Inventories 152,441 157,937 Prepaid and other current assets 19,892 16,585 Total current assets 752,826 747,989 Property and equipment, net 81,064 76,542 Operating lease right-of-use assets 87,393 87,791 Other long-term assets 36,447 40,336 Total assets $ 957,730 $ 952,658 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 48,754 $ 49,586 Accrued expenses 12,280 12,726 Employee-related liabilities 58,718 43,430 Current portion of convertible senior notes, net 40,605 — Operating lease liabilities 18,033 17,060 Deferred revenue 42,567 43,994 Other current liabilities 38,319 28,462 Total current liabilities 259,276 195,258 Convertible senior notes, net - long-term 307,829 285,035 Operating lease liabilities - long-term 109,479 113,572 Deferred revenue - long-term 11,196 13,331 Other long-term liabilities 32,240 31,830 Total liabilities 720,020 639,026 Commitments and contingencies (Note 13) — — Stockholders' equity: Common stock, $ 0.001 par value; 200,000 shares authorized, 65,646 and 65,552 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively. 66 66 Additional paid-in capital 1,282,354 1,263,997 Accumulated other comprehensive income 3,870 1,369 Accumulated deficit ( 1,048,580 ) ( 951,800 ) Total stockholders' equity 237,710 313,632 Total liabilities and stockholders' equity $ 957,730 $ 952,658 See accompanying notes to unaudited condensed consolidated financial statements. 1 TANDEM DIABETES CARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (In thousands, except per share

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View this 10-Q filing on SEC EDGAR