What is Tandem Diabetes Care, Inc.'s earnings per share (EPS)?

Tandem Diabetes Care, Inc. (TNDM) reported diluted earnings per share of -$3.04 for fiscal year 2025. This represents a -106.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tandem Diabetes Care, Inc. (TNDM) Financials

TNDM

Trailing 12 months to June 30, 2026

Revenue $1.0B +4.0% YoY

Net Income -$63.3M +69.2% YoY

EPS (Diluted) -$0.93 +69.9% YoY

Free Cash Flow -$26.6M -243.1% YoY

Market Cap $1.1B as of Oct 2, 2026

Price / Sales 1.1x on $1.0B revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 8.8x on $130.4M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TNDM SEC filings page.

Tandem Diabetes Care, Inc. (TNDM) reported $1.0B in revenue over the twelve months to Jun 30, 2026, up 4.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TNDM FY2025 2026-10-03

Revenue is scaling past $1.0B, but higher operating spending and rising leverage keep growth from becoming profit.

Revenue recovered between FY2023 and FY2025 while gross margin expanded, yet operating losses remained severe. The FY2025 operating loss reached $187.3M as SG&A climbed to $445.0M, indicating that expense intensity—not weak gross economics—is the main constraint on profitability.

FY2025's net loss was $204.7M while operating cash flow was -$9.7M, showing a substantial accounting-to-cash gap. After $19.9M of capital expenditure, free cash flow was -$29.7M, so reinvestment still consumed cash despite the smaller operating outflow.

Debt-to-equity reached 2.0x as equity fell to $155.2M in FY2025, meaning the same debt load weighs more heavily on the capital base. Liabilities rose to $725.9M while the current ratio remained 2.5x, a cushion that has narrowed materially over the period.

Financial Health Signals

Financial Health Score 40/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Tandem Diabetes Care, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Tandem Diabetes Care, Inc. has an operating margin of -18.4%, meaning the company loses $18 on every $100 of revenue. This results in a profitability score of 20/100. This is down from -10.5% the prior year.

Growth

Tandem Diabetes Care, Inc.'s revenue grew 7.9% year-over-year to $1.0B, a solid pace of expansion. This earns a growth score of 78/100.

Leverage

Tandem Diabetes Care, Inc. has a moderate D/E ratio of 2.00. This balance of debt and equity financing earns a leverage score of 32/100.

Liquidity

With a current ratio of 2.55, Tandem Diabetes Care, Inc. holds $2.55 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 72/100.

Cash Flow

Tandem Diabetes Care, Inc.'s operations used $9.7M of cash, and capex of $19.9M added to the outflow, for a free cash flow shortfall of $29.7M. This results in a cash flow score of 19/100.

Returns

Tandem Diabetes Care, Inc. posts a -131.9% return on equity (ROE), meaning it loses $132 for every $100 of shareholders' equity. This results in a returns score of 19/100. This is down from -36.5% the prior year.

Altman Z-Score Distress

-0.08

Tandem Diabetes Care, Inc. scores -0.08, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.1B) relative to total liabilities ($725.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

3/9

Tandem Diabetes Care, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Tandem Diabetes Care, Inc. reported a net loss of $204.7M while operations used $9.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Tandem Diabetes Care, Inc. reported an operating loss of $187.3M against $7.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$254.6M

YoY+5.8%

QoQ+3.0%

5Y CAGR+8.1%

10Y CAGR+27.2%

Tandem Diabetes Care, Inc. generated $254.6M in revenue in Q2 2026. This represents an increase of 5.8% from the same quarter a year earlier. Against the prior quarter it is up 3.0%.

EBITDA

-$9.3M

YoY+80.4%

QoQ+27.9%

Tandem Diabetes Care, Inc.'s EBITDA was -$9.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 80.4% from the same quarter a year earlier. Against the prior quarter it is up 27.9%.

Net Income

-$21.2M

YoY+59.6%

QoQ-3.8%

Tandem Diabetes Care, Inc. reported -$21.2M in net income in Q2 2026. This represents an increase of 59.6% from the same quarter a year earlier. Against the prior quarter it is down 3.8%.

EPS (Diluted)

-$0.31

YoY+60.3%

QoQ-3.3%

Tandem Diabetes Care, Inc. earned -$0.31 per diluted share (EPS) in Q2 2026. This represents an increase of 60.3% from the same quarter a year earlier. Against the prior quarter it is down 3.3%.

Cash & Balance Sheet

Free Cash Flow

-$38.7M

YoY-146.3%

QoQ-908.2%

Tandem Diabetes Care, Inc. recorded an outflow of $38.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 146.3% from the same quarter a year earlier. Against the prior quarter it is down 908.2%.

Cash & Debt

$62.8M

YoY-2.0%

QoQ-65.0%

5Y CAGR-8.6%

10Y CAGR+7.6%

Tandem Diabetes Care, Inc. held $62.8M in cash against $602.6M in long-term debt as of Q2 2026.

Shares Outstanding

70M

YoY+3.0%

QoQ+1.5%

5Y CAGR+2.0%

10Y CAGR+8.6%

Tandem Diabetes Care, Inc. had 70M shares outstanding in Q2 2026. This represents an increase of 3.0% from the same quarter a year earlier. Against the prior quarter it is up 1.5%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

56.9%

YoY+4.6pp

QoQ+1.5pp

5Y change+3.2pp

10Y change+21.3pp

Tandem Diabetes Care, Inc.'s gross margin was 56.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.

Operating Margin

-5.4%

YoY+16.1pp

QoQ+1.6pp

5Y change-8.6pp

10Y change+68.8pp

Tandem Diabetes Care, Inc.'s operating margin was -5.4% in Q2 2026, reflecting core business profitability. This is up 16.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.

Net Margin

-8.3%

YoY+13.5pp

QoQ-0.1pp

5Y change-10.7pp

10Y change+71.4pp

Tandem Diabetes Care, Inc.'s net profit margin was -8.3% in Q2 2026, showing the share of revenue converted to profit. This is up 13.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Return on Equity

-16.2%

YoY+23.1pp

QoQ-0.8pp

5Y change-17.4pp

Tandem Diabetes Care, Inc.'s ROE was -16.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 23.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.

Capital Allocation

R&D Spending

$46.9M

YoY-2.5%

QoQ+1.9%

Tandem Diabetes Care, Inc. invested $46.9M in research and development in Q2 2026. This represents a decrease of 2.5% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.

Capital Expenditures

$4.0M

YoY-34.7%

QoQ-35.4%

5Y CAGR+17.4%

10Y CAGR+6.8%

Tandem Diabetes Care, Inc. invested $4.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 34.7% from the same quarter a year earlier. Against the prior quarter it is down 35.4%.

Share Buybacks

Not reported for Q2 2026.

TNDM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TNDM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$1.0B	$1.0B+7.9%	$940.2M+25.7%	$747.7M-6.7%	$801.2M+14.0%	$702.8M+40.9%	$498.8M+37.7%	$362.3M+97.0%	$183.9M+70.9%	$107.6M+27.7%	$84.2M+15.6%	$72.8M+46.5%	$49.7M+71.4%	$29.0M+1072.0%	$2.5M
Cost of Revenue	N/A	$468.7M+4.0%	$450.6M+18.6%	$380.0M-2.1%	$388.2M+18.9%	$326.6M+37.0%	$238.3M+41.8%	$168.1M+78.7%	$94.0M+48.1%	$63.5M+4.7%	$60.7M+31.1%	$46.3M+34.2%	$34.5M+50.9%	$22.8M+497.4%	$3.8M
Gross Profit	$583.3M	$546.0M+11.5%	$489.6M+33.1%	$367.7M-11.0%	$413.0M+9.8%	$376.2M+44.4%	$260.5M+34.1%	$194.2M+116.2%	$89.8M+103.7%	$44.1M+86.9%	$23.6M-11.2%	$26.6M+74.3%	$15.2M+147.3%	$6.2M+557.5%	-$1.3M
R&D Expenses	N/A	$193.1M-2.9%	$198.9M+17.2%	$169.7M+22.0%	$139.1M+51.1%	$92.1M+44.8%	$63.6M+40.7%	$45.2M+54.6%	$29.2M+41.5%	$20.7M+9.8%	$18.8M+10.9%	$17.0M+7.4%	$15.8M+42.5%	$11.1M+23.0%	$9.0M
SG&A Expenses	N/A	$445.0M+14.2%	$389.8M+10.6%	$352.5M+5.0%	$335.7M+28.4%	$261.5M+27.6%	$204.9M+23.6%	$165.7M+57.5%	$105.2M+21.8%	$86.4M+4.3%	$82.8M+5.4%	$78.6M+4.7%	$75.1M+68.7%	$44.5M+96.2%	$22.7M
Operating Income	-$45.8M	-$187.3M-88.9%	-$99.1M+57.5%	-$233.2M-151.2%	-$92.8M-509.9%	$22.7M+384.7%	-$8.0M+52.4%	-$16.7M+62.5%	-$44.6M+29.1%	-$62.9M+19.4%	-$78.1M-13.1%	-$69.0M+8.8%	-$75.7M-53.1%	-$49.4M-49.6%	-$33.0M
EBITDA	N/A	-$169.6M-105.5%	-$82.5M+62.1%	-$217.5M-177.0%	-$78.5M-315.1%	$36.5M+1363.4%	$2.5M+123.4%	-$10.7M+72.6%	-$38.8M+30.8%	-$56.1M+22.7%	-$72.6M-13.1%	-$64.2M+10.0%	-$71.3M-54.1%	-$46.3M-49.2%	-$31.0M
Interest Expense	N/A	$7.9M+6.6%	$7.4M-25.0%	$9.9M+59.2%	$6.2M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$4.4M+6.8%	$4.2M+76.3%	$2.4M+35.3%	$1.7M+420.0%	$335K+117.6%	-$1.9M-1375.2%	$149K+192.2%	$51K+537.5%	$8K+153.3%	-$15K-250.0%	$10K-85.9%	$71K	N/A	N/A
Net Income	-$63.3M	-$204.7M-113.2%	-$96.0M+56.9%	-$222.6M-135.3%	-$94.6M-706.4%	$15.6M+145.4%	-$34.4M-38.9%	-$24.8M+79.8%	-$122.6M-67.9%	-$73.0M+12.5%	-$83.4M-15.2%	-$72.4M+8.9%	-$79.5M-26.0%	-$63.1M-91.2%	-$33.0M
EPS (Basic)	N/A	-$3.04-106.8%	-$1.47+57.1%	-$3.43-133.3%	-$1.47-688.0%	$0.25+144.6%	-$0.56-33.3%	-$0.42	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$0.93	-$3.04-106.8%	-$1.47+57.1%	-$3.43-133.3%	-$1.47-712.5%	$0.24+142.9%	-$0.56-33.3%	-$0.42	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	67M+2.8%	65M+0.7%	65M+1.3%	64M-0.3%	64M+5.5%	61M+4.2%	59M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$254.6M+5.8%	$247.2M+5.5%	$290.4M+2.7%	$249.3M+2.2%	$240.7M+8.5%	$234.4M+22.3%	$282.6M+43.6%	$244.0M+31.4%
Cost of Revenue	$109.8M-4.4%	$110.4M-4.8%	N/A	$115.0M-3.7%	$114.8M+5.2%	$116.0M+19.6%	N/A	$119.3M+24.5%
Gross Profit	$144.8M+15.0%	$136.8M+15.5%	$167.5M+6.4%	$134.3M+7.7%	$125.9M+11.6%	$118.4M+25.1%	$157.5M+68.8%	$124.7M+38.9%
R&D Expenses	$46.9M-2.5%	$46.0M-8.3%	N/A	$48.7M-4.7%	$48.1M-2.4%	$50.2M+8.6%	N/A	$51.1M+21.8%
SG&A Expenses	$111.6M+1.9%	$108.2M-5.0%	N/A	$108.4M+8.8%	$109.6M+16.3%	$113.9M+26.4%	N/A	$99.6M+25.6%
Operating Income	-$13.8M+73.4%	-$17.4M+85.6%	$8.3M+1527.5%	-$22.9M+12.4%	-$51.8M-68.4%	-$120.9M-190.0%	-$581K+98.3%	-$26.1M+17.3%
EBITDA	-$9.3M+80.4%	-$12.9M+88.9%	$12.8M+249.0%	-$18.4M+16.0%	-$47.4M-77.9%	-$116.6M-209.7%	$3.7M+111.8%	-$21.9M+20.5%
Interest Expense	$2.5M+28.6%	$2.2M+18.4%	N/A	$2.1M+10.7%	$1.9M+6.2%	$1.9M-1.8%	N/A	$1.9M-61.5%
Income Tax	$510K+109.6%	$516K-93.9%	N/A	-$4.0M-724.5%	-$5.3M-596.9%	$8.5M+165.8%	N/A	$637K-71.5%
Net Income	-$21.2M+59.6%	-$20.4M+84.4%	-$589K-178.0%	-$21.2M+9.0%	-$52.4M-70.1%	-$130.6M-205.6%	$755K+102.5%	-$23.3M+29.5%
EPS (Basic)	-$0.31+60.3%	-$0.30+84.8%	-$0.01-200.0%	-$0.31+11.4%	-$0.78-66.0%	-$1.97-203.1%	$0.01+102.2%	-$0.35+31.4%
EPS (Diluted)	-$0.31+60.3%	-$0.30+84.8%	-$0.01-200.0%	-$0.31+11.4%	-$0.78-66.0%	-$1.97-203.1%	$0.01+102.2%	-$0.35+31.4%
Diluted Shares (Avg)	69M+2.9%	68M+3.0%	68M+2.8%	68M+3.2%	67M+3.2%	66M+1.7%	66M+1.2%	66M+0.6%

TNDM Balance Sheet

TNDM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$881.1M-8.9%	$967.7M+1.6%	$952.7M-9.5%	$1.1B+16.3%	$905.1M+26.3%	$716.4M+119.7%	$326.1M+58.1%	$206.3M+116.4%	$95.3M-15.2%	$112.4M-9.9%	$124.7M+17.2%	$106.5M-34.4%	$162.2M	N/A
Current Assets	$618.1M-14.7%	$724.5M-3.1%	$748.0M-12.0%	$850.0M+4.7%	$811.5M+27.4%	$637.2M+130.8%	$276.1M+47.0%	$187.9M+192.9%	$64.2M-30.3%	$92.1M-13.9%	$107.0M+17.9%	$90.8M-39.1%	$149.0M	N/A
Cash & Equivalents	$90.6M+30.9%	$69.2M+17.6%	$58.9M-65.9%	$172.5M+142.4%	$71.2M-24.8%	$94.6M+84.9%	$51.2M+22.4%	$41.8M+205.3%	$13.7M-69.3%	$44.7M+3.7%	$43.1M+38.2%	$31.2M-74.9%	$124.4M+624.7%	$17.2M
Short-Term Investments	$202.0M-45.3%	$369.1M-9.8%	$409.0M-8.0%	$444.4M-19.6%	$552.6M+41.6%	$390.3M+211.6%	$125.3M+43.7%	$87.2M+18104.8%	$479K-94.6%	$8.9M-68.4%	$28.0M-22.4%	$36.1M+608.7%	$5.1M	$0
Inventory	$128.8M-13.9%	$149.6M-5.3%	$157.9M+42.1%	$111.1M+62.1%	$68.6M+7.6%	$63.7M+29.8%	$49.1M+146.6%	$19.9M-26.3%	$27.0M+27.4%	$21.2M+20.8%	$17.5M+47.3%	$11.9M+15.3%	$10.3M	N/A
Accounts Receivable	$165.5M+44.4%	$114.6M+8.6%	$105.6M-8.0%	$114.7M+3.6%	$110.7M+34.7%	$82.2M+76.4%	$46.6M+32.4%	$35.2M+69.3%	$20.8M+86.1%	$11.2M-20.5%	$14.1M+83.7%	$7.7M+44.4%	$5.3M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$725.9M+3.0%	$704.6M+10.3%	$639.0M+4.3%	$612.8M+29.8%	$472.0M+34.8%	$350.1M+167.0%	$131.1M+74.8%	$75.0M-39.7%	$124.5M+5.2%	$118.3M+93.2%	$61.3M+18.0%	$51.9M+11.2%	$46.7M	N/A
Current Liabilities	$242.7M-1.8%	$247.0M+26.5%	$195.3M+18.1%	$165.3M+25.4%	$131.9M+27.0%	$103.9M+4.5%	$99.4M+49.9%	$66.3M+83.7%	$36.1M+14.6%	$31.5M+18.7%	$26.5M+46.6%	$18.1M+23.9%	$14.6M	N/A
Non-Current Liabilities	$483.2M+5.6%	$457.5M+3.1%	$443.8M-0.8%	$447.5M+31.6%	$340.2M+38.1%	$246.3M+676.0%	$31.7M+263.5%	$8.7M-90.1%	$88.4M+1.8%	$86.8M+150.0%	$34.7M+2.8%	$33.8M+5.4%	$32.1M	N/A
Long-Term Debt	$310.0M+0.6%	$308.3M+8.2%	$285.0M	N/A	N/A	N/A	N/A	N/A	$82.7M+2.0%	$81.1M+168.9%	$30.2M+0.5%	$30.0M	N/A	N/A
Total Equity	$155.2M-41.0%	$263.1M-16.1%	$313.6M-28.7%	$439.9M+1.6%	$433.1M+18.2%	$366.3M+87.9%	$195.0M+48.5%	$131.3M+550.4%	-$29.1M-391.8%	-$5.9M-109.3%	$63.5M+16.3%	$54.6M-52.8%	$115.5M+208.9%	-$106.1M
Retained Earnings	-$1.3B-19.5%	-$1.0B-10.1%	-$951.8M-30.5%	-$729.2M-14.9%	-$634.6M+3.7%	-$659.2M-5.5%	-$624.8M-4.1%	-$600.1M-25.6%	-$477.6M-18.1%	-$404.6M-26.0%	-$321.1M-29.1%	-$248.7M-47.0%	-$169.2M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.2B+31.8%	$1.2B+25.1%	$881.1M-8.9%	$874.7M-8.7%	$875.7M-6.6%	$922.1M-2.0%	$967.7M+1.6%	$957.7M+1.9%
Current Assets	$804.6M+30.9%	$887.1M+33.7%	$618.1M-14.7%	$616.9M-18.0%	$614.8M-16.2%	$663.4M-9.8%	$724.5M-3.1%	$752.8M-0.7%
Cash & Equivalents	$62.8M-2.0%	$179.3M+234.7%	$90.6M+30.9%	$91.9M+87.5%	$64.1M+34.4%	$53.6M-9.2%	$69.2M+17.6%	$49.0M-38.4%
Short-Term Investments	$393.2M+56.5%	$390.9M+24.1%	$202.0M-45.3%	$227.2M-46.5%	$251.2M-37.9%	$315.1M-22.9%	$369.1M-9.8%	$424.3M+1.4%
Inventory	$135.1M-5.2%	$126.4M-10.5%	$128.8M-13.9%	$137.3M-9.9%	$142.6M-11.8%	$141.2M-8.3%	$149.6M-5.3%	$152.4M+6.2%
Accounts Receivable	$162.1M+26.2%	$140.7M+11.1%	$165.5M+44.4%	$125.9M+17.5%	$128.4M+30.9%	$126.6M+36.1%	$114.6M+8.6%	$107.2M+6.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$1.0B+37.9%	$1.0B+33.1%	$725.9M+3.0%	$741.7M+3.0%	$742.5M+5.5%	$766.9M+9.9%	$704.6M+10.3%	$720.0M+15.0%
Current Liabilities	$253.0M+0.5%	$248.0M-14.0%	$242.7M-1.8%	$252.5M-2.6%	$251.7M+4.6%	$288.2M+49.3%	$247.0M+26.5%	$259.3M+38.6%
Non-Current Liabilities	$770.8M+57.1%	$773.0M+61.5%	$483.2M+5.6%	$489.1M+6.2%	$490.8M+6.0%	$478.7M-5.2%	$457.5M+3.1%	$460.7M+5.0%
Long-Term Debt	$602.6M+94.9%	$601.8M+94.9%	$310.0M+0.6%	$309.6M+0.6%	$309.1M+0.6%	$308.7M	$308.3M+8.2%	$307.8M
Total Equity	$130.4M-2.2%	$132.4M-14.7%	$155.2M-41.0%	$133.0M-44.1%	$133.3M-43.0%	$155.3M-36.1%	$263.1M-16.1%	$237.7M-24.3%
Retained Earnings	-$1.3B-5.1%	-$1.3B-8.0%	-$1.3B-19.5%	-$1.3B-19.4%	-$1.2B-20.0%	-$1.2B-18.5%	-$1.0B-10.1%	-$1.0B-13.8%

Not reported in any period shown, so not listed: Goodwill.

TNDM Cash Flow Statement

TNDM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	-$5.5M	-$9.7M-140.1%	$24.2M+176.2%	-$31.8M-163.0%	$50.5M-54.7%	$111.4M+351.4%	$24.7M-41.1%	$41.9M+603.7%	-$8.3M+87.4%	-$66.1M-8.1%	-$61.2M-4.1%	-$58.8M+4.3%	-$61.4M-28.5%	-$47.8M-42.7%	-$33.5M
Depreciation & Amortization	N/A	$17.7M+6.4%	$16.6M+5.7%	$15.7M+9.7%	$14.3M+3.5%	$13.8M+32.5%	$10.5M+72.1%	$6.1M+4.3%	$5.8M-15.2%	$6.9M+25.1%	$5.5M+13.7%	$4.8M+10.0%	$4.4M+38.6%	$3.2M+55.9%	$2.0M
Stock-Based Compensation	N/A	$92.4M-8.9%	$101.4M+15.1%	$88.1M+3.7%	$84.9M+39.8%	$60.8M+4.0%	$58.4M+0.6%	$58.1M+144.7%	$23.7M+88.0%	$12.6M+8.3%	$11.7M-11.0%	$13.1M-12.7%	$15.0M+236.5%	$4.5M+1711.4%	$246K
Capital Expenditures	$21.1M	$19.9M+3.7%	$19.2M-28.3%	$26.8M-21.4%	$34.1M+140.5%	$14.2M-48.3%	$27.4M+40.3%	$19.5M+554.4%	$3.0M-47.8%	$5.7M-36.0%	$8.9M+54.9%	$5.8M+30.8%	$4.4M+9.9%	$4.0M-11.5%	$4.5M
Free Cash Flow	-$26.6M	-$29.7M-694.1%	$5.0M+108.5%	-$58.6M-458.1%	$16.4M-83.2%	$97.2M+3648.0%	-$2.7M-112.2%	$22.4M+297.8%	-$11.3M+84.3%	-$71.9M-2.5%	-$70.1M-8.6%	-$64.5M+1.9%	-$65.8M-27.1%	-$51.8M-36.2%	-$38.0M
Investing Cash Flow	-$277.2M	$72.9M+410.3%	-$23.5M+72.6%	-$85.7M-358.5%	$33.2M+117.7%	-$186.9M+36.9%	-$296.1M-419.8%	-$57.0M+37.2%	-$90.7M-3361.6%	$2.8M-73.4%	$10.4M	N/A	N/A	N/A	N/A
Financing Cash Flow	$277.3M	-$43.4M-618.3%	$8.4M+103.4%	$4.1M-75.6%	$16.9M-67.5%	$51.9M-83.5%	$314.4M+1199.0%	$24.2M-79.3%	$117.2M+190.2%	$40.4M-22.8%	$52.3M	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A
Share Buybacks	N/A	$0-100.0%	$30.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$34.6M-264.7%	$11.1M+160.5%	$9.8M-8.7%	$8.3M-69.1%	-$9.5M-80.0%	-$18.3M-128.6%	$10.7M+248.5%	$26.8M+48589.1%
Depreciation & Amortization	$4.5M+2.4%	$4.5M+4.5%	$4.5M+5.9%	$4.5M+6.7%	$4.4M+6.3%	$4.3M+6.6%	$4.2M+5.3%	$4.2M+4.7%
Stock-Based Compensation	$15.7M-38.6%	$15.7M-38.6%	N/A	$21.1M-19.6%	$25.6M+3.0%	$25.5M+15.7%	N/A	$26.3M+26.7%
Capital Expenditures	$4.0M-34.7%	$6.3M+111.4%	$6.7M+117.8%	$4.1M-21.9%	$6.2M-4.0%	$3.0M-33.5%	$3.1M-41.0%	$5.2M-3.0%
Free Cash Flow	-$38.7M-146.3%	$4.8M+122.5%	$3.1M-59.4%	$4.2M-80.6%	-$15.7M-33.7%	-$21.2M-70.6%	$7.6M+161.6%	$21.5M+503.0%
Investing Cash Flow	-$87.3M-250.2%	-$195.4M-2227.7%	-$15.0M-398.9%	$20.5M+203.2%	$58.1M+1742.1%	$9.2M+281.7%	$5.0M+130.2%	-$19.9M+59.0%
Financing Cash Flow	$2.2M+105.4%	$274.2M+5948.1%	$2.6M+13.1%	-$1.6M+65.3%	-$39.7M-1222.9%	-$4.7M-134.5%	$2.3M-12.0%	-$4.5M-136.5%
Share Buybacks	N/A	N/A	$0	$0	$0	$0-100.0%	$0	$0

Not reported in any period shown, so not listed: Dividends Paid.

TNDM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TNDM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	53.8%+1.7pp	52.1%+2.9pp	49.2%-2.4pp	51.5%-2.0pp	53.5%+1.3pp	52.2%-1.4pp	53.6%+4.8pp	48.9%+7.9pp	41.0%+13.0pp	28.0%-8.5pp	36.5%+5.8pp	30.7%+9.4pp	21.3%+75.7pp	-54.5%
Operating Margin	-18.4%-7.9pp	-10.5%+20.7pp	-31.2%-19.6pp	-11.6%-14.8pp	3.2%+4.8pp	-1.6%+3.0pp	-4.6%+19.7pp	-24.3%+34.2pp	-58.5%+34.1pp	-92.6%+2.1pp	-94.7%	-152.2%	-170.4%	-1335.3%
Net Margin	-20.2%-10.0pp	-10.2%+19.6pp	-29.8%-18.0pp	-11.8%-14.0pp	2.2%+9.1pp	-6.9%-0.1pp	-6.8%+59.8pp	-66.7%+1.2pp	-67.9%+31.2pp	-99.1%+0.4pp	-99.4%	-159.9%	-217.7%	-1333.9%
Return on Equity	-131.9%-95.4pp	-36.5%+34.5pp	-71.0%-49.5pp	-21.5%-25.1pp	3.6%+13.0pp	-9.4%+3.3pp	-12.7%+80.7pp	-93.4%	N/A	N/A	-114.1%+31.6pp	-145.7%-91.1pp	-54.6%	N/A
Return on Assets	-23.2%-13.3pp	-9.9%+13.5pp	-23.4%-14.4pp	-9.0%-10.7pp	1.7%+6.5pp	-4.8%+2.8pp	-7.6%+51.9pp	-59.4%+17.2pp	-76.6%-2.3pp	-74.3%-16.2pp	-58.1%+16.6pp	-74.7%-35.8pp	-38.9%	N/A
Current Ratio	2.55-0.4x	2.93-0.9x	3.83-1.3x	5.14-1.0x	6.150.0x	6.14+3.4x	2.78-0.1x	2.83+1.1x	1.78-1.1x	2.93-1.1x	4.03-1.0x	5.02-5.2x	10.21	N/A
Debt-to-Equity	2.00+0.8x	1.17+0.3x	0.91-0.5x	1.39+0.3x	1.09+0.1x	0.96+0.3x	0.67+0.1x	0.57	N/A	N/A	0.48-0.1x	0.55+0.1x	0.40	N/A
Asset Turnover	1.15+0.2x	0.97+0.2x	0.780.0x	0.760.0x	0.78+0.1x	0.70-0.4x	1.11+0.2x	0.89-0.2x	1.13+0.4x	0.75+0.2x	0.58+0.1x	0.47+0.3x	0.18	N/A
FCF Margin	-2.9%-3.5pp	0.5%+8.4pp	-7.8%-9.9pp	2.0%-11.8pp	13.8%+14.4pp	-0.5%-6.7pp	6.2%+12.3pp	-6.2%+60.6pp	-66.8%+16.4pp	-83.2%+5.4pp	-88.6%	-132.3%	-178.5%	-1535.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	56.9%+4.6pp	55.3%+4.8pp	57.7%+2.0pp	53.9%+2.8pp	52.3%+1.5pp	50.5%+1.1pp	55.7%+8.3pp	51.1%+2.7pp
Operating Margin	-5.4%+16.1pp	-7.0%+44.5pp	2.9%+3.1pp	-9.2%+1.5pp	-21.5%-7.7pp	-51.6%-29.8pp	-0.2%+17.6pp	-10.7%+6.3pp
Net Margin	-8.3%+13.5pp	-8.3%+47.4pp	-0.2%-0.5pp	-8.5%+1.0pp	-21.8%-7.9pp	-55.7%-33.4pp	0.3%+15.5pp	-9.5%+8.2pp
Return on Equity	-16.2%+23.1pp	-15.4%+68.7pp	-0.4%-0.7pp	-15.9%-6.1pp	-39.3%-26.1pp	-84.1%-66.5pp	0.3%+9.9pp	-9.8%+0.7pp
Return on Assets	-1.8%+4.1pp	-1.8%+12.4pp	-0.1%-0.1pp	-2.4%0.0pp	-6.0%-2.7pp	-14.2%-9.6pp	0.1%+3.2pp	-2.4%+1.1pp
Current Ratio	3.18+0.7x	3.58+1.3x	2.55-0.4x	2.44-0.5x	2.44-0.6x	2.30-1.5x	2.93-0.9x	2.90-1.1x
Debt-to-Equity	4.62+2.3x	4.54+2.6x	2.00+0.8x	2.33+1.0x	2.32+1.0x	1.99-0.9x	1.17+0.3x	1.29-0.7x
Asset Turnover	0.22-0.1x	0.210.0x	0.330.0x	0.280.0x	0.270.0x	0.25+0.1x	0.29+0.1x	0.25+0.1x
FCF Margin	-15.2%-8.7pp	1.9%+11.0pp	1.1%-1.6pp	1.7%-7.2pp	-6.5%-1.2pp	-9.1%-2.6pp	2.7%+9.0pp	8.8%+11.7pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Tandem Diabetes Care, Inc. TNDM	FY2025	$1.0B	-$204.7M	-20.2%	$1.1B	40/100
iRadimed Corporation IRMD	FY2025	$83.8M	$22.5M	26.8%	$1.1B	86/100
SI-BONE, Inc. SIBN	FY2025	$200.9M	-$18.9M	-9.4%	$810.3M	53/100
InMode Ltd. INMD	FY2025	$370.5M	$93.8M	25.3%	$810.8M	74/100
Axogen, Inc. AXGN	FY2025	$225.2M	-$15.7M	-7.0%	$2.2B	53/100
SS Innovations International Inc. SSII	FY2025	$42.5M	-$12.1M	-28.5%	$535.0M	39/100

Where Tandem Diabetes Care, Inc. Ranks

Frequently Asked Questions

What is Tandem Diabetes Care, Inc.'s annual revenue?

Tandem Diabetes Care, Inc. (TNDM) reported $1.0B in total revenue for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tandem Diabetes Care, Inc.'s revenue growing?

Tandem Diabetes Care, Inc. (TNDM) revenue grew by 7.9% year-over-year, from $940.2M to $1.0B in fiscal year 2025.

Is Tandem Diabetes Care, Inc. profitable?

No, Tandem Diabetes Care, Inc. (TNDM) reported a net income of -$204.7M in fiscal year 2025, with a net profit margin of -20.2%.

What is Tandem Diabetes Care, Inc.'s EBITDA?

Tandem Diabetes Care, Inc. (TNDM) had EBITDA of -$169.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Tandem Diabetes Care, Inc. have?

As of fiscal year 2025, Tandem Diabetes Care, Inc. (TNDM) had $90.6M in cash and equivalents against $310.0M in long-term debt.

What is Tandem Diabetes Care, Inc.'s gross margin?

Tandem Diabetes Care, Inc. (TNDM) had a gross margin of 53.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tandem Diabetes Care, Inc.'s operating margin?

Tandem Diabetes Care, Inc. (TNDM) had an operating margin of -18.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Tandem Diabetes Care, Inc.'s net profit margin?

Tandem Diabetes Care, Inc. (TNDM) had a net profit margin of -20.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Tandem Diabetes Care, Inc.'s return on equity (ROE)?

Tandem Diabetes Care, Inc. (TNDM) has a return on equity of -131.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tandem Diabetes Care, Inc.'s free cash flow?

Tandem Diabetes Care, Inc. (TNDM) recorded an outflow of $29.7M in free cash flow during fiscal year 2025. This represents a -694.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tandem Diabetes Care, Inc.'s operating cash flow?

Tandem Diabetes Care, Inc. (TNDM) recorded an outflow of $9.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Tandem Diabetes Care, Inc.'s total assets?

Tandem Diabetes Care, Inc. (TNDM) had $881.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tandem Diabetes Care, Inc.'s capital expenditures?

Tandem Diabetes Care, Inc. (TNDM) invested $19.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Tandem Diabetes Care, Inc. spend on research and development?

Tandem Diabetes Care, Inc. (TNDM) invested $193.1M in research and development during fiscal year 2025.

How many shares does Tandem Diabetes Care, Inc. have outstanding?

Tandem Diabetes Care, Inc. (TNDM) had 68M shares outstanding as of fiscal year 2025.

What is Tandem Diabetes Care, Inc.'s current ratio?

Tandem Diabetes Care, Inc. (TNDM) had a current ratio of 2.55 as of fiscal year 2025, which is generally considered healthy.

What is Tandem Diabetes Care, Inc.'s debt-to-equity ratio?

Tandem Diabetes Care, Inc. (TNDM) had a debt-to-equity ratio of 2.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tandem Diabetes Care, Inc.'s return on assets (ROA)?

Tandem Diabetes Care, Inc. (TNDM) had a return on assets of -23.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tandem Diabetes Care, Inc.'s P/E ratio?

Tandem Diabetes Care, Inc. (TNDM) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.1B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tandem Diabetes Care, Inc.'s price-to-sales ratio?

Tandem Diabetes Care, Inc. (TNDM) trades at 1.1x sales, its market capitalization divided by revenue of $1.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tandem Diabetes Care, Inc.'s Altman Z-Score?

Tandem Diabetes Care, Inc. (TNDM) has an Altman Z-Score of -0.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Tandem Diabetes Care, Inc.'s Piotroski F-Score?

Tandem Diabetes Care, Inc. (TNDM) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tandem Diabetes Care, Inc.'s earnings high quality?

Tandem Diabetes Care, Inc. (TNDM) reported a net loss of $204.7M while operations used $9.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Tandem Diabetes Care, Inc. cover its interest payments?

Tandem Diabetes Care, Inc. (TNDM) reported an operating loss of $187.3M against $7.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Tandem Diabetes Care, Inc.?

Tandem Diabetes Care, Inc. (TNDM) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.