$TNDM

TANDEM DIABETES CARE INC

CIK:0001438133|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales	$ 254,560	$ 240,678	$ 501,781	$ 475,100
Cost of sales	109,780	114,823	220,213	230,838
Gross profit	144,780	125,855	281,568	244,262
Operating expenses:
Selling, general and administrative	111,642	109,596	219,829	223,449
Research and development	46,930	48,118	92,965	98,333
Acquired in-process research and development expenses	0	0	0	75,217
Litigation and settlement expense	0	19,951	0	19,951
Total operating expenses	158,572	177,665	312,794	416,950
Operating loss	(13,792)	(51,810)	(31,226)	(172,688)
Other income (expense), net:
Interest income and other income, net	1,225	(632)	4,851	3,561
Interest expense	(2,450)	(1,905)	(4,654)	(3,767)
Loss from equity method investment	(5,641)	(3,375)	(9,506)	(6,917)
Total other income (expense), net	(6,866)	(5,912)	(9,309)	(7,123)
Loss before income taxes	(20,658)	(57,722)	(40,535)	(179,811)
Income tax expense (benefit)	510	(5,322)	1,026	3,145
Net loss	(21,168)	(52,400)	(41,561)	(182,956)
Other comprehensive income (loss):
Unrealized gain (loss) on short-term investments	(692)	(98)	(1,719)	325
Unrealized gain (loss) on cash flow hedges	716	(612)	2,418	(612)
Foreign currency translation gains	1,335	4,380	111	5,979
Comprehensive loss	$ (19,809)	$ (48,730)	$ (40,751)	$ (177,264)
Net loss per share - basic (in dollars per share)	$ (0.31)	$ (0.78)	$ (0.60)	$ (2.74)
Net loss per share - diluted (in dollars per share)	$ (0.31)	$ (0.78)	$ (0.60)	$ (2.74)
Weighted average shares used to compute basic net loss per share (in shares)	69,011	67,050	68,706	66,729
Weighted average shares used to compute diluted net loss per share (in shares)	69,011	67,050	68,706	66,729

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Operating Activities
Net loss			$ (41,561)	$ (182,956)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense			8,974	8,678
Amortization of debt issuance costs			1,384	970
Provision for expected credit losses	$ 3,249	$ 2,146	5,358	3,577
Operating lease and other impairment charges			0	6,697
Amortization of discount or (accretion of premium) on short-term investments			(1,821)	(1,780)
Loss from equity method investment	5,641	3,375	9,506	6,917
Stock-based compensation expense			31,400	51,130
Acquired in-process research and development expenses	0	0	0	75,217
Other			1,005	424
Changes in operating assets and liabilities:
Accounts receivable, net			(3,082)	(13,516)
Inventories			(8,564)	12,058
Prepaid and other current assets			(18,502)	(2,348)
Other long-term assets			(11,134)	3,524
Accounts payable			23,500	5,739
Employee-related liabilities			(17,072)	(12,649)
Deferred revenue			(3,782)	(2,710)
Operating leases and other current liabilities			4,095	8,403
Other long-term liabilities			(3,280)	4,851
Net cash used in operating activities			(23,576)	(27,774)
Investing Activities
Purchases of short-term investments			(260,512)	(26,496)
Proceeds from maturities and redemptions of short-term investments			69,473	146,447
Purchases of property and equipment			(10,318)	(9,171)
Acquisition of in-process research and development			0	(43,464)
Purchases of equity investments, strategic investments, and intangible assets			(81,427)	0
Net cash provided by (used in) investing activities			(282,784)	67,316
Financing Activities
Proceeds from issuance of convertible senior notes due 2032, net of $8,843 debt issuance costs			291,157	0
Principal payments on convertible senior notes due 2025			0	(40,760)
Payment for capped call transactions related to convertible senior notes due 2032			(15,300)	0
Cash used to settle withholding taxes on vested restricted stock, net of proceeds from issuance of common stock under Company stock plans			458	(3,641)
Net cash provided by (used in) financing activities			276,315	(44,401)
Effect of foreign exchange rate changes on cash			2,229	(263)
Net decrease in cash and cash equivalents			(27,816)	(5,122)
Cash and cash equivalents at beginning of period			90,634	69,234	$ 69,234
Cash and cash equivalents at end of period	$ 62,818	$ 64,112	62,818	64,112	$ 90,634
Supplemental disclosures of cash flow information
Income taxes (refunded) paid			(1,758)
Income taxes (refunded) paid				4,892
Supplemental schedule of non-cash investing and financing activities
Operating lease right-of-use assets obtained in exchange for operating lease obligations			10,224	0
Purchases of property and equipment included in accounts payable and accrued expenses			1,851	1,073
Intangible costs in other long-term liabilities			$ 13,300	$ 13,300

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 62,818	$ 90,634
Short-term investments	393,178	202,032
Accounts receivable, net	162,065	165,491
Inventories	135,106	128,769
Prepaid and other current assets	51,472	31,217
Total current assets	804,639	618,143
Property and equipment, net	84,501	83,580
Operating lease right-of-use assets	100,185	96,172
Equity method investment	132,271	60,351
Other long-term assets	32,606	22,866
Total assets	1,154,202	881,112
Current liabilities:
Accounts payable	64,130	47,067
Accrued expenses	25,539	21,012
Employee-related liabilities	53,261	70,409
Operating lease liabilities	20,265	19,472
Deferred revenue	8,430	9,527
Other current liabilities	81,380	75,237
Total current liabilities	253,005	242,724
Convertible senior notes, net - long-term	602,577	310,036
Operating lease liabilities - long-term	116,411	114,967
Deferred revenue - long-term	7,776	8,474
Other long-term liabilities	44,045	49,741
Total liabilities	1,023,814	725,942
Commitments and contingencies (Note 14)	0	0
Stockholders’ equity:
Common stock, $0.001 par value; 200,000 shares authorized, 69,540 and 68,291 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	70	68
Additional paid-in capital	1,418,011	1,402,044
Accumulated other comprehensive income	6,403	5,593
Accumulated deficit	(1,294,096)	(1,252,535)
Total stockholders’ equity	130,388	155,170
Total liabilities and stockholders’ equity	$ 1,154,202	$ 881,112