TNDM Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2016βFY2025
Tandem Diabetes Care Inc had $1.0B of revenue in fiscal 2025, up 7.9% on the year before. Over five years, revenue changed +15.3% a year on average.
Last close Β· Oct 23, 2026
$17.43
1.6%Hi! I read Tandem Diabetes Care Incβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+7.9%
Yes. Sales grew 7.9% last year.
Does it make a profit?
β20.2%
No. It lost money last year.
Does profit turn into cash?
β2.9%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Tandem Diabetes Care Inc did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 10 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 6, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 7, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 19, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 6, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 6, 2025 | Q2 '25 | After the market closes | 8-K β |
| Apr 30, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 26, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 6, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Tandem Diabetes Care Inc had $1.0B of revenue in fiscal 2025, up 7.9% on the year before. Over five years, revenue changed +15.3% a year on average. Its operating margin was β18.5%, down 7.9Β pts: of every 100 in sales, about β18 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Tandem Diabetes Care Inc lost $205M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$29.7M in fiscal 2025, β2.9% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Tandem Diabetes Care Inc returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 2.8%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Tandem Diabetes Care Inc owes $17.4M more than it holds in cash.
Cash, debt and the ratios that show how comfortably Tandem Diabetes Care Inc can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $624M | $617M | $468M | $438M | $293M |
| Debt incl. finance leases | β | β | $285M | $349M | $310M |
| Debt / equity | β | β | 0.9x | 1.3x | 2.0x |
| Interest coverage | β | β15.0x | β23.6x | β13.4x | β23.7x |
| Current ratio | 6.2x | 5.1x | 3.8x | 2.9x | 2.5x |
| Quick ratio | 5.6x | 4.5x | 3.0x | 2.3x | 2.0x |
| Total assets | $905M | $1.1B | $953M | $968M | $881M |
| Total liabilities | $472M | $613M | $639M | $705M | $726M |
| Shareholders' equity | $433M | $440M | $314M | $263M | $155M |
| Net debt (β = net cash) | β | β | β$183M | β$89.4M | $17.4M |
KIRA Β· Its return on capital was β85.7%: every 100 invested in the business earned about β86 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Tandem Diabetes Care Inc passes 4 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 9 | 4 / 8 | 5 / 8 | 4 / 8 | 7 / 8 | 3 / 8 | 2 / 8 | 5 / 9 | 4 / 9 |
| Accruals ratio | β19.8% | β6.6% | β75.8% | β25.0% | β11.3% | β11.8% | β14.8% | β19.0% | β12.5% | β21.1% |
| Altman Z'' | β12.92 | β19.08 | β5.23 | β1.47 | 2.91 | 3.77 | 2.17 | β0.58 | β0.59 | β3.04 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $84.2M | $108M | $184M | $362M | $499M | $703M | $801M | $748M | $940M | $1.0B |
| Gross profit | $23.6M | $44.1M | $89.8M | $194M | $261M | $376M | $413M | $368M | $490M | $546M |
| Research and development | $18.8M | $20.7M | $29.2M | $45.2M | $63.6M | $92.1M | $139M | $170M | $199M | $193M |
| Operating income | β$78.1M | β$62.9M | β$44.6M | β$16.7M | β$8.0M | $22.7M | β$92.8M | β$233M | β$99.1M | β$187M |
| Interest expense | β | β | β | β | β | β | $6.2M | $9.9M | $7.4M | $7.9M |
| Pretax income | β$83.5M | β$73.0M | β$123M | β$24.6M | β$36.3M | $15.9M | β$92.9M | β$220M | β$91.9M | β$200M |
| Income tax | β$0.0M | $0.0M | $0.1M | $0.1M | β$1.9M | $0.3M | $1.7M | $2.4M | $4.2M | $4.4M |
| Net income | β$83.4M | β$73.0M | β$123M | β$24.8M | β$34.4M | $15.6M | β$94.6M | β$223M | β$96.0M | β$205M |
| Net income to common | β | β | β | β | β$34.4M | $15.6M | β$94.6M | β$223M | β | β |
| Diluted EPS | β$27.30 | β$12.87 | β$2.55 | β$0.42 | β$0.56 | $0.24 | β$1.47 | β$3.43 | β$1.47 | β$3.04 |
| Diluted shares | 0.00B | 0.01B | 0.05B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.07B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | β$61.2M | β$66.1M | β$8.3M | $41.9M | $24.7M | $111M | $50.5M | β$31.8M | $24.2M | β$9.7M |
| Capital expenditure | $8.9M | $5.7M | $3.0M | $19.5M | $27.4M | $14.2M | $34.1M | $26.8M | $19.2M | $19.9M |
| Free cash flow | β$70.1M | β$71.9M | β$11.3M | $22.4M | β$2.7M | $97.2M | $16.4M | β$58.6M | $5.0M | β$29.7M |
| Depreciation and amortization | $5.5M | $6.9M | $5.8M | $6.1M | $10.5M | $13.8M | $14.3M | $15.7M | $16.6M | $17.7M |
| Stock-based compensation | $11.7M | $12.6M | $23.7M | $58.1M | $58.4M | $60.8M | $84.9M | $88.1M | $101M | $92.4M |
| Share buybacks | β | β | β | β | β | β | $0.0M | $0.0M | $30.0M | $0.0M |
| Dividends and buybacks | β | β | β | β | β | β | $0.0M | $0.0M | $30.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $53.5M | $14.2M | $129M | $176M | $485M | $624M | $617M | $468M | $438M | $293M |
| Total debt | $81.1M | $82.7M | β | β | β | β | β | $285M | $349M | $310M |
| Current assets | $92.1M | $64.2M | $188M | $276M | $637M | $812M | $850M | $748M | $724M | $618M |
| Current liabilities | $31.5M | $36.1M | $66.3M | $99.4M | $104M | $132M | $165M | $195M | $247M | $243M |
| Inventory | $21.2M | $27.0M | $19.9M | $49.1M | $63.7M | $68.6M | $111M | $158M | $150M | $129M |
| Property and equipment, net | $18.4M | $19.6M | $17.2M | $32.9M | $50.0M | $50.4M | $68.6M | $76.5M | $78.2M | $83.6M |
| Intangible assets | β | β | β | β | β | $6.6M | $4.6M | $2.8M | $0.9M | $11.7M |
| Total assets | $112M | $95.3M | $206M | $326M | $716M | $905M | $1.1B | $953M | $968M | $881M |
| Total liabilities | $118M | $124M | $75.0M | $131M | $350M | $472M | $613M | $639M | $705M | $726M |
| Shareholders' equity | β$5.9M | β$29.1M | $131M | $195M | $366M | $433M | $440M | $314M | $263M | $155M |
| Margins | ||||||||||
| Gross margin | 28.0% | 41.0% | 48.9% | 53.6% | 52.2% | 53.5% | 51.5% | 49.2% | 52.1% | 53.8% |
| Operating margin | β92.6% | β58.5% | β24.3% | β4.6% | β1.6% | 3.2% | β11.6% | β31.2% | β10.5% | β18.5% |
| EBITDA margin | β86.1% | β52.1% | β21.1% | β2.9% | 0.5% | 5.2% | β9.8% | β29.1% | β8.8% | β16.7% |
| Net margin | β99.0% | β67.9% | β66.7% | β6.8% | β6.9% | 2.2% | β11.8% | β29.8% | β10.2% | β20.2% |
| FCF margin | β83.2% | β66.8% | β6.1% | 6.2% | β0.5% | 13.8% | 2.0% | β7.8% | 0.5% | β2.9% |
| Returns | ||||||||||
| Return on capital | β285.3% | β126.3% | β | β | β | β | β | β140.9% | β45.1% | β85.7% |
| Return on capital employed | β96.5% | β106.2% | β31.9% | β7.4% | β1.3% | 2.9% | β10.5% | β30.8% | β13.8% | β29.3% |
| Return on equity | β | β | β240.1% | β15.2% | β12.3% | 3.9% | β21.7% | β59.1% | β33.3% | β97.9% |
| Return on assets | β74.2% | β70.3% | β81.3% | β9.3% | β6.6% | 1.9% | β9.7% | β22.2% | β10.0% | β22.1% |
| Return on tangible equity | β | β | β93.4% | β12.7% | β9.4% | 3.6% | β21.7% | β71.6% | β36.6% | β142.7% |
| Growth | ||||||||||
| Revenue growth | β | 27.7% | 70.9% | 97.0% | 37.7% | 40.9% | 14.0% | β6.7% | 25.7% | 7.9% |
| Net income growth | β | β | β | β | β | β | β707.7% | β | β | β |
| EPS growth | β | β | β | β | β | β | β712.5% | β | β | β |
| FCF growth | β | β | β | β | β112.2% | β | β83.2% | β458.1% | β | β694.1% |
| Share count change | β | 85.7% | 747.8% | 21.6% | 4.2% | 5.5% | β0.3% | 1.3% | 0.7% | 2.8% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | β | β | 0.9x | 1.3x | 2.0x |
| Interest coverage | β | β | β | β | β | β | β15.0x | β23.6x | β13.4x | β23.7x |
| Current ratio | 2.9x | 1.8x | 2.8x | 2.8x | 6.1x | 6.2x | 5.1x | 3.8x | 2.9x | 2.5x |
| Quick ratio | 2.3x | 1.0x | 2.5x | 2.3x | 5.5x | 5.6x | 4.5x | 3.0x | 2.3x | 2.0x |
| Capital allocation | ||||||||||
| Capex / revenue | 10.6% | 5.3% | 1.6% | 5.4% | 5.5% | 2.0% | 4.3% | 3.6% | 2.0% | 2.0% |
| Stock comp / revenue | 13.8% | 11.7% | 12.9% | 16.0% | 11.7% | 8.6% | 10.6% | 11.8% | 10.8% | 9.1% |
| Payouts / FCF | β | β | β | β | β | β | 0.0% | β | 600.7% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 4.0 | 5.0 | 4.0 | 7.0 | 3.0 | 2.0 | 5.0 | 4.0 |
| Altman Z'' | β12.9 | β19.1 | β5.2 | β1.5 | 2.9 | 3.8 | 2.2 | β0.6 | β0.6 | β3.0 |
| Accruals ratio | β19.8% | β6.6% | β75.8% | β25.0% | β11.3% | β11.8% | β14.8% | β19.0% | β12.5% | β21.1% |
Source: SEC EDGAR XBRL filings (CIK 0001438133). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
