Tandem Diabetes Care (TNDM) is a medical device company with a focus on developing products for people with insulin-dependent diabetes. Tandem’s primary focus is the t:slim X2 delivery system, which is its flagship product. The system is updatable and is designed to display continuous glucose monitoring directly on the home screen of the pump. Notably, t:slim X2 is the only pump capable of remote feature updates on the US market.
Tandem also sells disposable products that are used together with the pumps and are replaced every few days. These include cartridges and infusion sets.
Since August 2012, Tandem has shipped ~78,000 pumps in the United States. Of these, 66,000 pumps were shipped in the last four years. The company plans to start commercializing t:slim X2 in geographies outside the United States during the second half of 2018.
The total number of pump units shipped has increased from 3,427 in the second quarter of 2017 to 5,455 in the second quarter. Tandem expects to have an installed base of 80,000 pumps by the second half of 2019.
In June, Tandem’s t:slim X2 with Basal-IQ, which is the company’s automated insulin delivery algorithm, was approved by the FDA. Tandem plans to start commercializing the product in the third quarter.
In this series, we’ll explore Tandem’s financials, the performance of its essential products, significant pipeline developments, and the company’s valuation metrics. Let’s start with the top line of Tandem Diabetes Care in the next part.