Tandem Diabetes Care (TNDM) said after close Wednesday that it lost $0.38 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $185.6 million, missing estimates by $6.7 million.
In the same quarter a year ago, the company lost $0.27 per share on revenue of $204.5 million.
The stock is down 14.87% to $15.40 after the report.
Despite Tandem Diabetes Care reporting a decline in revenues, earnings increased signaling a rise in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Tandem Diabetes Care a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 39. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Tandem Diabetes Care Inc is a medical device company that develops products for people with insulin-dependent diabetes. The firm has three key insulin pump products. The t:slim Insulin Delivery System can easily fit into a user's pocket. The t:flex Insulin Delivery System is used by customers with greater insulin needs. The t:slim G4 Insulin Delivery system is a continuous glucose monitoring enabled pump with a touch screen. Tandem Diabetes also sells pump-related supplies and accessories. Pump sales contribute the majority of revenue. The firm generates virtually all of its revenue in the United States.
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Tandem Diabetes Care Down 14.87% To $15.40 After Earnings Miss
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