Tandem Diabetes Care, Inc. reported its financial results for the third quarter ended September 30, 2024, achieving its highest quarterly sales in company history. GAAP sales reached $282.6 million, marking a 44% increase compared to $196.8 million in the third quarter of 2023. Non-GAAP sales for the quarter were $252.4 million, up 21% from $209.3 million in the prior year period.
U.S. GAAP sales grew by 42% to $214.6 million, while sales outside the United States demonstrated a 48% increase, reaching $68.0 million. The company also reported a GAAP net income of $0.755 million, or $0.01 per share, a significant improvement from a net loss of $(30.002) million, or $(0.46) per share, in the third quarter of 2023.
In conjunction with these results, Tandem Diabetes Care increased its full year 2024 sales guidance. The company now projects full year 2024 GAAP sales of $940.2 million and Non-GAAP sales of $910.0 million. This upward revision reflects confidence in continued strong performance and strategic expansions, despite navigating margin pressures.
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