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T TANDEM INVESTOR CENTER Tandem Diabetes Care Announces Second Quarter 2021 Financial Results and Updated Full Year 2021 Sales Guidance August 4 , 2021 SAN DIEGO -- ( BUSINESS WIRE ) -- Aug . 4 , 2021-- Tandem Diabetes Care , Inc. ( NASDAQ : TNDM ) , a leading insulin delivery and diabetes technology company , today reported its financial results for the quarter ended June 30 , 2021 and updated its sales guidance for the year ending December 31 , 2021 . Second Quarter 2021 Highlights In comparing the second quarter of 2021 to the same period of 2020 : • Worldwide pump shipments increased 81 percent to 33,817 pumps from 18,687 pumps • Sales increased 58 percent to $ 172.1 million from $ 109.2 million • Gross margin improved to 54 percent of sales from 50 percent of sales ● Operating margin improved to 3 percent of sales from negative 11 percent of sales " We achieved record - high sales in the second quarter by expanding and further penetrating the U.S. insulin pump market , and through the rapid uptake of our technology internationally where our business opportunity is still in its early stages , " said John Sheridan , president and chief executive officer . " Our worldwide installed base is now nearly 270,000 people , and we are on track to achieve our goal of bringing the benefits of our technology to more than half a million customers by year - end 2024. " Second Quarter 2021 Financial Results Domestic pump shipments increased 40 percent to 20,665 pumps in the second quarter of 2021 from 14,735 pumps in the same period of 2020 . Domestic sales were $ 127.6 million , an increase of 43 percent compared to $ 89.3 million in the second quarter of 2020. International pump shipments increased 233 percent to 13,152 pumps in the second quarter of 2021 from 3,952 pumps in the same period of 2020. International sales were $ 44.6 million , an increase of 123 percent compared to $ 20.0 million in the second quarter of 2020 . Gross profit for the second quarter of 2021 increased 70 percent to $ 92.5 million , compared to $ 54.4 million for the same period of 2020. Gross margin increased to 54 percent in the second quarter of 2021 from 50 percent in the same period of 2020 . For the second quarter of 2021 , operating expenses totaled $ 87.0 million , compared to $ 66.4 million for the same period of 2020. Operating income totaled $ 5.4 million , compared to an operating loss of $ 12.0 million for the same period of 2020. Operating margin for the second quarter of 2021 was 3 percent of sales compared to negative 11 percent for the same period of 2020. For the second quarter of 2021 , Adjusted EBITDA ( 1 ) was $ 23.8 million , or 14 percent of sales , compared to $ 6.6 million , or 6 percent of sales , for the same period of 2020 . Net income for the second quarter of 2021 was $ 4.0 million , which included a $ 0.3 million non - cash charge for the change in fair value of certain outstanding warrants and $ 1.5 million of interest expense related to the Company's convertible senior notes . This is compared to a net loss of $ 27.1 million for the second quarter of 2020 , which included a $ 14.3 million non - cash charge for the change in fair value of certain warrants outstanding at that time and $ 3.2 million of interest expense related to the Company's convertible senior notes . Cash Balance and Liquidity As of June 30 , 2021 , the Company had $ 545.3 million in cash , cash equivalents and short - term investments . This represents a $ 31.9 million increase in the second quarter of 2021 , and a $ 60.4 million increase since December 31 , 2020 . 2021 Annual Guidance Update For the year ending December 31 , 2021 , the Company is updating its financial guidance as follows : • Sales are estimated to be in the range of $ 670 million to $ 685 million , which represents an annual sales growth of 34 percent to 37 percent compared to 2020. The Company's prior sales guidance for 2021 was estimated to be in the range of $ 625 million to $ 640 million . o Includes international sales of approximately $ 160 million to $ 165 million , which represents an annual sales growth of 92 percent to 98 percent compared to 2020. The Company's prior international sales guidance for 2021 was estimated to be in the range of $ 125 million to $ 130 million . • Gross margin is estimated to be approximately 55 percent • Adjusted EBITDA ( 1 ) is estimated to be approximately 15 percent of sales • Non - cash charges included in cost of goods sold and operating expenses are estimated to be approximately $ 80 million , which include : o Approximately $ 65 million in non - cash , stock - based compensation expense o Approximately $ 15 million of depreciation and amortization ( 1 ) EBITDA is a non - GAAP financial measure defined as net income ( loss ) excluding income taxes , interest and other non - operating items and