Tandem Diabetes Care Announces Second Quarter 2023 Financial Results and Updated Full Year 2023 Financial Guidance
Tandem Diabetes Care today reported its financial results for the quarter ended June 30, 2023 and updated its financial guidance for the year ending December 31, 2023. The highlights from the company in the Q2 2023 refers to the U.S. launch of Tandem Source, a data management application designed to be a centralized digital ecosystem for customers and healthcare providers worldwide, as well as the FDA clearance for Tandem Mobi, the world’s smallest durable insulin delivery system. In September 2022, the Company began offering the Tandem Choice Program (Tandem Choice) to eligible t:slim X2 customers to provide a pathway to ownership of its newest hardware platform, Tandem Mobi, for a fee when available. GAAP gross profit was reported as $101.7 million, compared to $101.9 million. GAAP operating loss totaled $38.8 million, or negative 20 percent of sales, compared to operating loss of $12.2 million, or negative 6 percent of sales.