Tandem Diabetes Care, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, GAAP sales were $282.6 million, a 44% increase from $196.8 million in Q4 2023. Non-GAAP sales reached $252.4 million, up 21% year-over-year. The company achieved a GAAP net income of $0.755 million, or $0.01 per share, for the fourth quarter, compared to a net loss of $(30.002) million, or $(0.46) per share, in Q4 2023.
For the full year 2024, GAAP sales were $940.2 million, representing a 26% increase from $747.7 million in 2023. Non-GAAP sales for the full year were $910.0 million, an 18% increase from $772.8 million in 2023. The full year GAAP net loss was $(96.025) million, or $(1.47) per share, an improvement from a net loss of $(222.611) million, or $(3.43) per share, in 2023.
Tandem provided its financial guidance for the year ending December 31, 2025, projecting worldwide sales in the range of $997 million to $1 billion, representing 10% to 11% growth year-over-year. U.S. sales are expected to be $725 million to $730 million (13-14% growth), and OUS sales are projected at $272 million to $277 million (2-4% growth). The company anticipates a gross margin of approximately 54% and adjusted EBITDA of approximately 3% of sales for 2025.
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