Tandem Diabetes Care Raises Full-Year 2019 Revenue Guidance to $358 Million
Type 2 diabetes can be reversed with diet and exercise, but most doctors and patients find it easier to manage the disorder with medication. That's created a massive and growing opportunity for Tandem Diabetes Care (NASDAQ: TNDM). While the insulin pump developer has never been profitable, second-quarter 2019 operating results show that's going to change soon.
The medical device company reported a 290% surge in global pump shipments in Q2 2019 compared to the year-ago period, which drove a 173% increase in revenue in that span. The business reported an operating loss of just $1.8 million for the quarter. Considering Tandem Diabetes Care expects second-half 2019 revenue to grow 25% from the first-half tally, profitability appears to be on the horizon. Here's what investors need to know about the most recent results.
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