TNDM on Nasdaq

Tandem Diabetes Care, Inc.

American diabetes-technology company

Tandem Diabetes Care, Inc. is an American medical-device company that develops and markets insulin pumps, automated insulin delivery systems and diabetes-management software.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

Jan 1, 2008Founded1

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  • TickerTNDM on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersSan Diego1
  • Websitewww.tandemdiabetes.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address12400 High Bluff Drive, San Diego, Ca 921305
  • Filer categoryLarge accelerated filer5
  • LEI549300JEPFOD0K4D3I054
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/o Corporation Service Company, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 44851604
Tandem HQ
Photo: Leonard Teyssier, CC BY-SA 4.0, via Wikimedia Commons7

Tandem Diabetes Care, Inc. is an American medical-device company that develops and markets insulin pumps, automated insulin delivery systems and diabetes-management software. Headquartered in San Diego, California, its principal pump platforms are the t:slim X2 and Tandem Mobi, both of which use the company's Control-IQ+ software with compatible continuous glucose monitors (CGMs).3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

53.8%Gross margin8
-18.5%Operating margin8
-20.2%Net margin8
7.9%Revenue growth, 20258
-131.9%Return on equity8
2.00×Debt to equity8
-$29.7MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Supplies and Other brought in 54% of the revenue Tandem Diabetes Care, Inc. broke down this way in fiscal 2025.

  1. Supplies and Other$550.6M854%up 16% from 2024
  2. Pump$464.1M846%up 7% from 2024
Products and services by year
Products and services202320242025
Supplies and Other$407.0M$475.8M$550.6M
Pump$365.8M$434.2M$464.1M

Regions

United States brought in 70% of the revenue Tandem Diabetes Care, Inc. broke down this way in fiscal 2025.

  1. United States$706.9M870%up 5% from 2024
  2. Outside the United States$307.8M830%up 15% from 2024
Regions by year
Regions202320242025
United States$554.9M$672.7M$706.9M
Outside the United States$192.8M$267.5M$307.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue46¢$468.7M
  • Selling, general and admin44¢$445.0M
  • Other costs10¢$96.6M
  • Income tax0¢$4.4M

Out of $1.0B in revenue.8 The company lost money this year.

Financial statements

Revenue91011128$1.0B in 2025+180% since 2019
0$500.0M$1.0B$1.5B2019: $362.3M$362.3M20192020: $498.8M$498.8M2020+38%2021: $702.8M$702.8M2021+41%2022: $801.2M$801.2M2022+14%2023: $747.7M$747.7M2023−7%2024: $940.2M$940.2M2024+26%2025: $1.0B$1.0B2025+8%
Gross profit91011128$546.0M in 2025+181% since 2019
0$200.0M$400.0M$600.0M2019: $194.2M$194.2M20192020: $260.5M$260.5M2020+34%2021: $376.2M$376.2M2021+44%2022: $413.0M$413.0M2022+10%2023: $367.7M$367.7M2023−11%2024: $489.6M$489.6M2024+33%2025: $546.0M$546.0M2025+12%
Operating income91011128-$187.3M in 2025+1020% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M2019: -$16.7M-$16.7M20192020: -$8.0M-$8.0M2020−52%2021: $22.7M$22.7M20212022: -$92.8M-$92.8M20222023: -$233.2M-$233.2M2023+151%2024: -$99.1M-$99.1M2024−57%2025: -$187.3M-$187.3M2025+89%
Net income91011128-$204.7M in 2025+727% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M2019: -$24.8M-$24.8M20192020: -$34.4M-$34.4M2020+39%2021: $15.6M$15.6M20212022: -$94.6M-$94.6M20222023: -$222.6M-$222.6M2023+135%2024: -$96.0M-$96.0M2024−57%2025: -$204.7M-$204.7M2025+113%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 2 quarters (quarterly), latest first.8

Period ending2025-12-312024-12-312023-12-31
Sales$1.0B$940.2M$747.7M
Cost of sales$468.7M$450.6M$380.0M
Gross profit$546.0M$489.6M$367.7M
Selling, general and administrative$445.0M$389.8M$352.5M
Research and development$193.1M$198.9M$169.7M
Acquired in-process research and development expenses$75.2M$0$78.8M
Litigation and settlement expense$20.0M$0$0
Total operating expenses$733.3M$588.7M$600.9M
Operating loss-$187.3M-$99.1M-$233.2M
Interest income and other income, net$9.1M$18.0M$22.9M
Interest expense-$7.9M-$7.4M-$9.9M
Loss from equity method investments-$14.2M-$2.1M$0
Loss on extinguishment of debt$0-$1.3M$0
Total other income (expense), net-$13.0M$7.3M$13.0M
Loss before income taxes-$200.3M-$91.9M-$220.3M
Income tax expense$4.4M$4.2M$2.4M
Net loss-$204.7M-$96.0M-$222.6M
Unrealized gain (loss) on short-term investments$517.0K-$311.0K$3.6M
Unrealized loss on cash flow hedges-$312.0K$0$0
Foreign currency translation gains (losses)$7.3M-$3.0M-$420.0K
Comprehensive loss-$197.2M-$99.3M-$219.4M
Net loss per share - basic (in dollars per share)-$3.04-$1.47-$3.43
Net loss per share - diluted (in dollars per share)-$3.04-$1.47-$3.43
Weighted average shares used to compute basic net loss per share (in shares)67.3M shares65.5M shares65.0M shares
Weighted average shares used to compute diluted net loss per share (in shares)67.3M shares65.5M shares65.0M shares

Compare Tandem Diabetes Care, Inc. with another company

The story

The company was incorporated in January 2006 as Phluid, Inc. and changed its name to Tandem Diabetes Care in 2008. Former Biosite executive Kim Blickenstaff joined as president and chief executive officer in 2007. Its first product was designed following interviews with pump users and clinicians and used a color touchscreen rather than the button-based interfaces then common on insulin pumps.

The Food and Drug Administration (FDA) cleared the t:slim insulin-delivery system in November 2011, and Tandem began selling it in the United States the following year. In November 2013, Tandem sold eight million shares at $15 each in its initial public offering, raising approximately $108 million after costs.

Tandem began shipping the software-updatable t:slim X2 in 2016. The FDA subsequently authorized versions that displayed readings from the Dexcom G5 and G6 CGMs, and in 2019 classified the t:slim X2 as the first alternate controller enabled insulin pump, a category designed to support interoperable diabetes devices. John Sheridan, previously the company's chief operating officer, succeeded Blickenstaff as president and CEO in March 2019.

The company acquired the diabetes-data application Sugarmate in June 2020. It acquired infusion-set developer Capillary Biomedical for $24.7 million in July 2022 and Swiss patch-pump developer AMF Medical in January 2023. AMF had been developing Sigi, a rechargeable patch pump that used prefilled insulin cartridges; the product remained in development at the end of 2025.

From Wikipedia’s article on Tandem Diabetes Care, shared under CC BY-SA 4.0.6

Leadership

Who has led Tandem Diabetes Care, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (27)

Products and brands

t:slim X2

The t:slim X2 is a rechargeable, touchscreen insulin pump with a 300-unit cartridge. It delivers programmed basal and bolus insulin through an infusion set and can receive software updates without replacement of the pump hardware. When used with a compatible CGM and Control-IQ technology, it can automatically adjust insulin delivery. The platform has supported integrations with Dexcom and FreeStyle Libre sensors in different markets.

The t:slim line replaced Tandem's earlier t:flex and t:slim G4 models. The t:slim G4, approved in 2015, combined a Tandem pump with the Dexcom G4 Platinum CGM display.

Tandem Mobi

The Tandem Mobi is a smaller durable pump intended to be worn on the body or carried in clothing. It uses a 200-unit cartridge and is operated principally from a compatible smartphone app, while a physical button can deliver a preset bolus. The FDA cleared the pump in July 2023, and Tandem began its full United States launch in February 2024. The company obtained a CE mark for Mobi in 2025 and subsequently began introducing it in European markets.

Automated insulin delivery

Tandem introduced Basal-IQ in 2018. The feature used predicted CGM values to suspend insulin delivery when glucose was expected to become low and resumed delivery when values recovered.

Read the full text

Control-IQ is a hybrid closed-loop system that uses CGM readings and a model-predictive algorithm to increase, decrease or suspend basal insulin and to deliver automatic correction boluses. Users still program personal therapy settings and normally announce meals. The FDA authorized Control-IQ through the De Novo pathway in December 2019, creating a regulatory category for interoperable automated glycemic controllers. Tandem launched it in the United States in January 2020 as a software update for compatible t:slim X2 pumps.

A revised version, Control-IQ+, broadened supported therapy settings and was cleared in 2025 for adults with type 2 diabetes who require insulin. In the United States, Control-IQ+ is used on both the t:slim X2 and Mobi platforms.

Data applications

The FDA cleared Tandem's t:connect desktop data-management application in 2013. A later mobile version displays pump and CGM information and, on compatible systems, permits bolus delivery from a phone. Tandem Source, introduced in the United States in 2023, is a web platform through which users and clinicians review therapy data. Sugarmate is a separate application for viewing CGM data and receiving customizable alerts.

From Wikipedia’s article on Tandem Diabetes Care, shared under CC BY-SA 4.0.6

Timeline

  1. May 17, 2019New chief executive John F. Sheridan becomes CEO16
  2. Nov 13, 2013New chief executive Kim D. Blickenstaff becomes CEO17
  3. Jan 1, 2008Founded Founded1

Filings

530 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 395 insider forms, 30 large holders, 38 other. The latest 20:

  1. Sep 17, 2026144 EDGAR
  2. Aug 18, 2026144 EDGAR
  3. Aug 18, 20264 EDGAR
  4. Aug 18, 20264 EDGAR
  5. Aug 18, 20264 EDGAR
  6. Aug 18, 20264 EDGAR
  7. Aug 18, 20264 EDGAR
  8. Aug 18, 20264 EDGAR
  9. Aug 18, 20264 EDGAR
  10. Aug 6, 202610-Q EDGAR
  11. Aug 6, 20268-K EDGAR
  12. Jul 17, 20264 EDGAR
  13. Jun 17, 2026144 EDGAR
  14. Jun 4, 20264 EDGAR
  15. Jun 2, 20264 EDGAR
  16. Jun 2, 20264 EDGAR
  17. Jun 2, 20264 EDGAR
  18. Jun 2, 20264 EDGAR
  19. Jun 2, 20264 EDGAR
  20. Jun 2, 20264 EDGAR

The 530 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

52 open-market trades by officers, directors and large owners since October 2021: 15 buys and 37 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 17, 2026Novara Mark DavidEVP & CHIEF COMMERCIAL OFFICERSale187$23.05$4.3KForm 4
Mar 5, 2026Novara Mark DavidEVP & CHIEF COMMERCIAL OFFICERSale2$22.81$46Form 4
Aug 11, 2025Sheridan John FPRESIDENT & CEOBuy10,000$10.23$102.3KForm 4
Aug 8, 2025Vosseller LeighEVP & CHIEF FINANCIAL OFFICERBuy13,720$10.89$149.4KForm 4
Mar 7, 2025Kyrillos Jean-ClaudeEVP & Chief Operating OfficerBuy10,538$18.12$190.9KForm 4
Nov 21, 2024BLICKENSTAFF KIM DDirectorSale30,000$31.38$941.4KForm 4
Nov 20, 2024BLICKENSTAFF KIM DDirectorSale10,000$30.00$300.0KForm 4
Nov 15, 2024Novara Mark DavidEVP & CHIEF COMMERCIAL OFFICERBuy532$23.24$12.4KForm 4
May 30, 2024Allen DickSale5,000$51.68$258.4KForm 4
Nov 27, 2023Allen DickBuy5,000$18.96$94.8KForm 4
Nov 8, 2023Vosseller LeighEVP & CHIEF FINANCIAL OFFICERBuy6,200$15.39$95.4KForm 4
Nov 8, 2023Hansen Shannon MarieEVP & Chief Legal OfficerBuy1,935$15.44$29.9KForm 4
Sep 15, 2023McGroddy-Goetz KathleenDirectorBuy1,000$21.45$21.4KForm 4
May 18, 2023Allen DickBuy10,000$29.47$294.7KForm 4
May 17, 2023Howell Peyton RDirectorBuy3,000$30.16$90.5KForm 4
May 12, 2023Vosseller LeighEVP & CHIEF FINANCIAL OFFICERBuy3,015$32.77$98.8KForm 4
Mar 3, 2023BERGER DAVID BEVP & Chief Operating OfficerSale10,000$41.19$411.9KForm 4
Dec 16, 2022BERGER DAVID BEVP & Chief Operating OfficerSale10,000$40.25$402.5KForm 4
Dec 15, 2022BERGER DAVID BEVP & Chief Operating OfficerSale15,000$40.32$604.8KForm 4
Jun 8, 2022BERGER DAVID BEVP & Chief Operating OfficerSale10,097$65.02$656.5KForm 4

All 52 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.11,583,125$174.8M0.0%+892,281
Sessa Capital IM, L.P.5,100,000$77.0M1.3%+369,243
Vanguard Portfolio Management LLC4,299,667$64.9M0.0%+306,334
First Light Asset Management, LLC3,383,553$51.1M3.1%+2,068,838
Vanguard Capital Management LLC3,096,536$46.7M0.0%+57,617
State Street Corp2,851,646$43.0M0.0%+189,386
Jennison Associates LLC2,331,429$35.2M0.0%+672,981
Paradice Investment Management LLC2,024,014$30.5M4.9%−18,411
Jacobs Levy Equity Management, Inc2,006,429$30.3M0.1%+482,483
Freestone Grove Partners LP1,866,134$28.2M0.2%+535,392
Geode Capital Management, LLC1,800,797$27.2M0.0%+120,934
Driehaus Capital Management LLC1,786,996$27.0M0.2%−517,418
Citadel Advisors LLC1,735,879$26.2M0.0%−456,788
Millennium Management LLC1,311,739$19.8M0.0%+550,067
Woodline Partners LP1,307,439$19.7M0.1%New
ArrowMark Colorado Holdings LLC1,299,586$19.6M0.8%−1,804,023
UBS Group AG1,146,580$17.3M0.0%−901,221
Fmr LLC976,432$14.7M0.0%+262,421
Royce & Associates LP900,590$13.6M0.1%+204,000
Wellington Management Group Llp871,811$13.2M0.0%−170,953
Goldman Sachs Group Inc862,301$13.0M0.0%−1,356,621
Northern Trust Corp753,690$11.4M0.0%+47,081
Verition Fund Management LLC700,000$10.6M0.1%+592,881
ExodusPoint Capital Management, LP691,789$10.4M0.1%+58,890
Qube Research & Technologies Ltd683,823$10.3M0.0%+631,862

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 29, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−2.7%Report
Mar 3, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−44.8%Report
Sep 22, 2025Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+9.0%Report
Mar 19, 2025Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+57.1%Report
Mar 4, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−50.2%Report
Aug 5, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−109.2%Report
Jul 12, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+117.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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