14 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 15.3% per year over the past 5 years.
Operating margin has contracted, at -18.5% in the latest year.
Financial health
Total debt ($310M) exceeds cash ($91M); net debt is $219M.
Total debt has grown slower than revenue (4.3% vs 15.3% per year).
Operating income covered interest expense -23.7× in the latest year.
The company is unprofitable; at its current free-cash-flow burn it has roughly 3.1 years of cash runway.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.0B
-$205M
53.8%
-18.5%
-131.9%
-23.2%
-$30M
$310M
$91M
2024
$940M
-$96M
52.1%
-10.5%
-36.5%
-9.9%
$5M
$349M
$69M
2023
$748M
-$223M
49.2%
-31.2%
-71.0%
-23.4%
-$59M
$285M
$59M
2022
$801M
-$95M
51.5%
-11.6%
-21.5%
-9.0%
$16M
—
$173M
2021
$703M
$16M
53.5%
3.2%
3.6%
1.7%
$97M
—
$71M
2020
$499M
-$34M
52.2%
-1.6%
-9.4%
-4.8%
-$3M
—
$95M
2019
$362M
-$25M
53.6%
-4.6%
-12.7%
-7.6%
$22M
—
$51M
2018
$184M
-$123M
48.9%
-24.3%
-93.4%
-59.4%
-$11M
—
$42M
2017
$108M
-$73M
41.0%
-58.5%
250.6%
-76.6%
-$72M
$83M
$14M
2016
$84M
-$83M
28.0%
-92.6%
1407.9%
-74.2%
-$70M
$81M
$45M
2015
—
-$72M
—
—
-114.1%
-58.1%
—
$30M
$43M
2014
—
-$80M
—
—
-145.7%
-74.7%
—
$30M
$31M
2013
—
-$63M
—
—
-54.6%
-38.9%
—
—
$124M
2012
—
-$33M
—
—
31.1%
—
—
—
$17M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$255M
-$21M
56.9%
-5.4%
-16.2%
-1.8%
-$39M
$603M
$63M
Mar '26
$247M
-$20M
55.3%
-7.1%
-15.4%
-1.8%
$5M
$602M
$179M
Dec '25
$290M
-$589000
57.7%
2.9%
-0.4%
-0.1%
$3M
$310M
$91M
Sep '25
$249M
-$21M
53.9%
-9.2%
-15.9%
-2.4%
$4M
$310M
$92M
Jun '25
$241M
-$52M
52.3%
-21.5%
-39.3%
-6.0%
-$16M
$309M
$64M
Mar '25
$234M
-$131M
50.5%
-51.6%
-84.1%
-14.2%
-$21M
$309M
$54M
Dec '24
$283M
$755000
55.7%
-0.2%
0.3%
0.1%
$8M
$349M
$69M
Sep '24
$244M
-$23M
51.1%
-10.7%
-9.8%
-2.4%
$22M
$348M
$49M
Jun '24
$222M
-$31M
50.8%
-13.9%
-13.2%
-3.3%
-$12M
$348M
$48M
Mar '24
$192M
-$43M
49.4%
-21.7%
-17.6%
-4.5%
-$12M
—
$59M
Dec '23
$197M
-$30M
47.4%
-17.8%
-9.6%
-3.1%
-$12M
$285M
$59M
Sep '23
$186M
-$33M
48.4%
-17.0%
-10.5%
-3.5%
-$5M
—
$80M
Jun '23
$196M
-$36M
51.9%
-19.8%
-10.9%
-3.8%
-$14M
—
$131M
Mar '23
$169M
-$124M
48.9%
-75.5%
-36.6%
-13.0%
-$27M
—
$128M
Dec '22
$221M
-$16M
52.4%
-8.1%
-3.6%
-1.5%
$193000
—
$173M
Sep '22
$205M
-$49M
51.1%
-23.2%
-11.6%
-4.7%
$10M
—
$124M
Jun '22
$200M
-$15M
50.9%
-6.1%
-3.3%
-1.5%
-$5M
—
$115M
Mar '22
$176M
-$15M
51.8%
-8.7%
-3.4%
-1.4%
$11M
—
$94M
Dec '21
$210M
$11M
54.2%
6.1%
2.5%
1.2%
$14M
—
$71M
Sep '21
$180M
$6M
53.9%
4.3%
1.5%
0.7%
$31M
—
$112M
Valuation over time
How the market has priced TNDM against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 3.5× (Mar '23) to 1.4× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is TNDM growing its revenue and profit?
Over the past 5 years, Tandem Diabetes Care Inc's revenue has grown 15.3% per year. These are computed facts, not advice.
How much debt does TNDM have?
As of FY2025, Tandem Diabetes Care Inc reported $310M of total debt against $91M of cash; operating income covered interest expense -23.7×.
What is TNDM's profit margin?
In FY2025, gross margin was 53.8%, operating margin -18.5%, and net margin -20.2%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.