Benzinga | Aug 4, 2021 04:33PM EDT

Tandem Diabetes Care Sees FY21 Sales $670M-$685M vs $637.16M Est.

2021 Annual Guidance Update

For the year ending December 31, 2021, the Company is updating its financial guidance as follows:

* Sales are estimated to be in the range of $670 million to $685 million, which represents an annual sales growth of 34 percent to 37 percent compared to 2020. The Company's prior sales guidance for 2021 was estimated to be in the range of $625 million to $640 million. Includes international sales of approximately $160 million to $165 million, which represents an annual sales growth of 92 percent to 98 percent compared to 2020. The Company's prior international sales guidance for 2021 was estimated to be in the range of $125 million to $130 million.

* Gross margin is estimated to be approximately 55 percent

* Adjusted EBITDA(1) is estimated to be approximately 15 percent of sales

* Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $80 million, which include: Approximately $65 million in non-cash, stock-based compensation expense Approximately $15 million of depreciation and amortization