Tandem Diabetes Care, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 09:09 pm
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Tandem Diabetes Care, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 195.92 million compared to USD 200.26 million a year ago. Net loss was USD 35.78 million compared to USD 15.06 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.55 compared to USD 0.24 a year ago.
For the six months, sales was USD 365.3 million compared to USD 376.17 million a year ago. Net loss was USD 159.65 million compared to USD 29.77 million a year ago. Basic loss per share from continuing operations was USD 2.47 compared to USD 0.47 a year ago. Diluted loss per share from continuing operations was USD 2.47 compared to USD 0.47 a year ago.
Tandem Diabetes Care, Inc. is a global insulin delivery and diabetes technology company, which manufactures and sells advanced automated insulin delivery systems. Its pump portfolio features the Tandem Mobi system and the t:slim X2 insulin pump, both of which feature Control-IQ advanced hybrid closed-loop technology. Its t:slim X2 and Tandem Mobi pumps can be used with a variety of infusion sets to offer patients choice in how and where their pump is worn. In addition, they are software updatable from a personal computer and compatible with its Web-based data management application. Both pumps feature its Control-IQ advanced hybrid closed loop technology, with an automated insulin delivery (AID) feature designed to help increase a user's time in targeted glycemic range. There are two primary therapies used by people with insulin-dependent diabetes, Multiple Daily Injection (MDI) and insulin pumps. As part of it AID systems, it offers pump integration with multiple CGM sensors.