Tandem's Third-Quarter Sales Growth Accelerates

The Tip Desk · November 11, 2026 · 2 min read

Worldwide sales rose 14% to $283.7 million as adjusted EBITDA reached $18.0 million, or 6% of sales.

Tandem Diabetes Care (TNDM), a global insulin delivery and diabetes technology company, reported worldwide sales of $283.7 million for the quarter ended September 30, 2026, a 14% increase from a year earlier. That pace was faster than the 6% growth to $254.6 million in the second quarter.

The San Diego company said the acceleration was led by international demand. International sales increased 26% to $92.6 million, or 27% in constant currency, after a 7% rise to $75.3 million in the prior quarter. U.S. sales rose 9% to $191.0 million, faster than the 5% increase to $179.3 million in the second quarter.

Gross margin held at 57%, matching the second-quarter level and up 270 basis points from the year-earlier quarter. Gross profit was $160.4 million.

The operating result narrowed sharply. Operating loss was $2.4 million, or negative 1% of sales, compared with a $13.8 million loss, or negative 5% of sales, in the second quarter. Net loss was $7.1 million, or $0.10 a share. Adjusted EBITDA was $18.0 million, or 6% of sales.

U.S. pump sales declined 2% to $83.4 million. U.S. supplies and other rose 19% to $107.7 million. International pump sales increased 25% to $31.6 million and international supplies and other rose 26% to $61.1 million.

Pump shipments were approximately 33,000 worldwide, including nearly 23,000 in the United States and nearly 11,000 internationally.

The company said it scaled its pay-as-you-go reimbursement model so that 15% of U.S. sales ran through the pharmacy channel, up from 10% in the second quarter, and that pharmacy formulary coverage reached approximately 50% of U.S. lives. It also said it expanded t:slim X2 compatibility with the Abbott FreeStyle Libre 3 Plus sensor to 11 international markets and announced international availability of Tandem Mobi in 12 countries. President and chief executive officer John Sheridan said the quarter demonstrated that the company’s strategy is delivering results.

Cash, cash equivalents and short-term investments were $443.1 million at September 30, 2026. Convertible senior notes, net, were $603.4 million.

Tandem is reaffirming 2026 sales guidance of approximately $1.065 billion to $1.085 billion, U.S. sales of approximately $730 million to $745 million, international sales of approximately $335 million to $340 million, gross margin of approximately 56% to 57% of sales, and adjusted EBITDA margin of approximately 5% to 6% of sales. Non-cash charges in cost of goods sold and operating expenses are estimated at approximately $85 million, including about $65 million of stock-based compensation and about $20 million of depreciation and amortization.