Stock Track | Tandem Diabetes Plunges Despite Strong Q3 Earnings on Higher Expected 2025 Losses

Stock Track11-09

Tandem Diabetes Care Inc. (TNDM) stock plummeted 5.04% on November 8th, 2024, despite reporting strong third-quarter 2024 earnings that surpassed Wall Street expectations. The medical technology company's shares took a hit as analysts raised concerns over higher projected losses for the fiscal year 2025.

In its Q3 2024 report, TNDM posted a non-GAAP loss of $0.36 per share, narrower than the consensus estimate of a $0.43 loss. Revenues soared 31.5% year-over-year to $244 million, beating analysts' projections by 9.2%. The company also raised its full-year 2024 sales guidance, citing robust demand for its insulin pumps.

However, analysts expressed mixed views on TNDM's prospects following the earnings release. While they maintained their revenue forecasts for 2025, projecting a 17% increase to $1 billion, they significantly increased their loss estimates for the year from $1.15 per share to $1.20 per share. This divergence between revenue growth and widening losses appears to have spooked investors, leading to the sharp sell-off in TNDM shares.

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(TNDM) stock plummeted 5.04% on November 8th, 2024, despite reporting strong third-quarter 2024 earnings that surpassed Wall Street expectations. 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