Tandem Diabetes Care, Inc. (TNDM) Income Statement
TNDM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTNDM revenue and net income
Where TNDM's revenue goes
2025Each bar shows an amount and its share of revenue. TNDM kept −20.2% of revenue as net income.
TNDM profit margins
TNDM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.9% | +8.2% | +15.3% | +30.1% |
| Gross profit | +8.4% | +8.7% | +15.3% | +34.9% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TNDM quarterly EPS vs estimates
Tandem Diabetes Care beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.27).
TNDM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.01B | $940.2M | $747.7M | $801.2M | $702.8M | $498.8M | $362.3M | $183.9M | $107.6M | $84.2M |
| Cost of revenue | $483.9M | $450.6M | $380.0M | $388.2M | $326.6M | $238.3M | $168.1M | $94.0M | $63.5M | $60.7M |
| Gross profit | $530.8M | $489.6M | $367.7M | $413.0M | $376.2M | $260.5M | $194.2M | $89.8M | $44.1M | $23.6M |
| Research & development | $174.8M | $198.9M | $248.4M | $170.2M | $92.1M | $63.6M | $45.2M | $29.2M | $20.7M | $18.8M |
| Sales, general & admin | $445.0M | $389.8M | $352.5M | $335.7M | $261.5M | $204.9M | $165.7M | $105.2M | $86.4M | $82.8M |
| Total operating expenses | $609.0M | $588.7M | $600.9M | $505.8M | $353.6M | $268.5M | $210.9M | $134.5M | $107.0M | $101.6M |
| Operating income | −$78.1M | −$99.1M | −$233.2M | −$92.8M | $22.7M | −$8.0M | −$16.7M | −$44.6M | −$62.9M | −$78.1M |
| Interest income | $9.1M | $18.0M | $22.9M | $6.1M | $674,000 | $1.6M | $3.3M | $1.5M | $239,000 | $296,000 |
| Interest expense | $7.9M | $7.4M | $9.9M | $6.2M | $6.0M | $12.2M | $78,000 | $7.6M | $11.3M | $5.7M |
| Income before taxes | −$200.3M | −$91.9M | −$220.3M | −$92.9M | $15.9M | −$36.3M | −$24.6M | −$122.6M | −$73.0M | −$83.5M |
| Income taxes | $4.4M | $4.2M | $2.4M | $1.7M | $335,000 | −$1.9M | $149,000 | $51,000 | $8,000 | −$15,000 |
| Net income | −$204.7M | −$96.0M | −$222.6M | −$94.6M | $15.6M | −$34.4M | −$24.8M | −$122.6M | −$73.0M | −$83.4M |
| EBITDA | −$174.7M | −$82.7M | −$196.5M | −$74.2M | $34.1M | $2.5M | −$10.7M | −$38.8M | −$56.1M | −$72.6M |
| EPS (diluted) | −$1.47 | −$1.92 | −$1.58 | −$0.98 | $0.23 | −$0.63 | −$0.48 | −$1.64 | −$16.71 | −$28.05 |
| Gross margin | 52.3% | 52.1% | 49.2% | 51.5% | 53.5% | 52.2% | 53.6% | 48.9% | 41.0% | 28.0% |
| Operating margin | −7.7% | −10.5% | −31.2% | −11.6% | 3.2% | −1.6% | −4.6% | −24.3% | −58.5% | −92.6% |
| Net margin | −20.2% | −10.2% | −29.8% | −11.8% | 2.2% | −6.9% | −6.8% | −66.7% | −67.9% | −99.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $254.6M | $247.2M | $290.4M | $249.3M | $240.7M | $234.4M | $282.6M | $363.3M | $221.9M | $191.7M | $196.8M | $185.6M |
| Cost of revenue | $109.8M | $110.4M | $122.9M | $115.0M | $114.8M | $116.0M | $125.2M | $238.6M | $109.1M | $97.0M | $103.5M | $95.9M |
| Gross profit | $144.8M | $136.8M | $167.5M | $134.3M | $125.9M | $118.4M | $157.5M | $124.7M | $112.8M | $94.7M | $93.3M | $89.8M |
| Research & development | $46.9M | $46.0M | $46.1M | $47.9M | $48.1M | $125.4M | $52.2M | $51.1M | $49.3M | $46.2M | $42.6M | $42.0M |
| Sales, general & admin | $111.6M | $108.2M | $113.1M | $108.4M | $109.6M | $113.9M | $105.8M | $99.6M | $94.2M | $90.1M | $85.8M | $79.3M |
| Total operating expenses | $158.6M | $154.2M | $159.2M | $154.4M | $177.7M | $239.3M | $158.0M | $150.7M | $143.6M | $136.3M | $128.4M | $121.3M |
| Operating income | −$13.8M | −$17.4M | $8.3M | −$20.1M | −$51.8M | −$120.9M | −$582,000 | −$26.1M | −$30.8M | −$41.7M | −$35.1M | −$31.5M |
| Interest income | $1.2M | $3.6M | $3.0M | $2.5M | — | $4.2M | $4.5M | $5.3M | $2.8M | $5.3M | $5.6M | $5.7M |
| Interest expense | $2.5M | $1.6M | $2.1M | $2.1M | $2.5M | $1.4M | $1.9M | $1.9M | $1.8M | $1.9M | $1.8M | $4.8M |
| Income before taxes | −$20.7M | −$19.9M | $4.7M | −$25.1M | −$57.7M | −$122.1M | $16,000 | −$22.6M | −$29.7M | −$39.5M | −$31.3M | −$30.7M |
| Income taxes | $510,000 | $516,000 | $5.3M | −$4.0M | −$5.3M | $8.5M | −$739,000 | $637,000 | $1.1M | $3.2M | −$1.3M | $2.2M |
| Net income | −$21.2M | −$20.4M | −$589,000 | −$21.2M | −$52.4M | −$130.6M | $755,000 | −$23.3M | −$30.8M | −$42.7M | −$30.0M | −$33.0M |
| EBITDA | −$13.7M | −$13.7M | $11.3M | −$18.6M | −$50.8M | −$116.4M | $6.1M | −$16.5M | −$23.8M | −$34.1M | −$25.6M | −$22.6M |
| EPS (diluted) | −$0.31 | −$0.30 | −$0.01 | −$0.31 | −$0.48 | −$0.67 | −$0.44 | −$0.36 | −$0.48 | −$0.64 | −$0.27 | −$0.38 |
| Gross margin | 56.9% | 55.3% | 57.7% | 53.9% | 52.3% | 50.5% | 55.7% | 34.3% | 50.8% | 49.4% | 47.4% | 48.4% |
| Operating margin | −5.4% | −7.1% | 2.9% | −8.0% | −21.5% | −51.6% | −0.2% | −7.2% | −13.9% | −21.7% | −17.8% | −17.0% |
| Net margin | −8.3% | −8.2% | −0.2% | −8.5% | −21.8% | −55.7% | 0.3% | −6.4% | −13.9% | −22.3% | −15.2% | −17.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TNDM's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TNDM financial results
In fiscal year 2025 (ended December 31, 2025), Tandem Diabetes Care reported revenue of $1.0 billion, up 7.9% from the year before. It had a net loss of $204.7 million, a net profit margin of −20.2%. Diluted earnings per share came to −$1.47. Over five years revenue grew at an average rate of 15.3% a year.
See the TNDM stock overview for the latest quote and news, or the TNDM chart for price history and technical indicators.
TNDM income statement FAQ
What is Tandem Diabetes Care's annual revenue?
Tandem Diabetes Care reported total revenue of $1.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.9% from $940.2 million the previous year.
Is Tandem Diabetes Care profitable?
No. Tandem Diabetes Care reported a net loss of $204.7 million in fiscal 2025, a net profit margin of −20.2%; its operating margin was −7.7%.
What is Tandem Diabetes Care's gross margin?
Tandem Diabetes Care's gross margin was 52.3% in fiscal 2025: for every $100 of revenue, Tandem Diabetes Care kept $52 after the direct cost of its products and services.
How much does Tandem Diabetes Care spend on research and development?
Tandem Diabetes Care spent $174.8 million on research and development in fiscal 2025, 17.2% of revenue.
How fast is Tandem Diabetes Care growing?
Revenue grew 15.3% a year on average over the last five fiscal years, from $498.8 million to $1.0 billion.
What are Tandem Diabetes Care's earnings per share?
Tandem Diabetes Care earned $-1.47 per diluted share in fiscal 2025, compared with $-1.92 a year earlier.
When will Tandem Diabetes Care report its next earnings?
Tandem Diabetes Care is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Tandem Diabetes Care's fiscal year end?
Tandem Diabetes Care's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.