Tandem Diabetes Care (TNDM) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Key conference highlights

• Received CE Mark for pregnancy indication and presented positive data to physicians, expanding the addressable market to all individuals of childbearing age considering pregnancy.

• Demonstrated the tubeless Mobi system in an innovation suite, generating strong excitement and positive reactions from both physicians and investors.

• Emphasized the shift in competition from purely therapeutic outcomes to include form factor and market access, with the company now positioned to address all these elements.

• Presented multiple studies highlighting the ease of use and benefits of Control-IQ, especially in pediatric populations.

• Confirmed the complementary role of GLP-1s and diabetes technology, with clinical studies showing significant A1C reductions when used together.

Product and market strategy

• Preparing to file for Mobi Tubeless in Q2, with commercialization expected soon after, aiming to capture the fast-growing tubeless market segment.

• Pharmacy channel transition is underway, with a pay-as-you-go model and renegotiated contracts to maximize formulary coverage, targeting 40-50% coverage by year-end.

• Expecting 20% of pumps to be distributed through pharmacy in 2024, with a goal of reaching 80% in 2-3 years; pharmacy sales projected to reach 70% of U.S. sales in that timeframe.

• Out-of-pocket costs are a significant barrier to adoption and renewal, with the pharmacy model designed to reduce these costs and improve retention.

• Mobi Tubeless will use the same pump with new supplies, offering both tubed and tubeless options and extended wear infusion plates for greater flexibility.

Financial and operational outlook

• Initial gross margin headwinds are expected with the Mobi Tubeless launch, but margins should stabilize as volume increases.

• Achieved strong gross margin and positive EBITDA in Q1, a notable improvement.

• Pharmacy transition will reduce SG&A costs over time, as the model is more scalable and less labor-intensive than DME.

• Incremental profitability will be reinvested in commercial expansion, marketing, and technology development.