Tandem Diabetes Care's stock experienced a significant after-hours plunge of 12.62% on Wednesday, following the release of the company's fourth-quarter and full-year 2024 financial results.
The company reported an adjusted operating loss of $30.2 million for Q4, missing analysts' estimates of a $17.6 million loss. Additionally, the adjusted net loss for the quarter came in at $28.8 million, wider than the consensus estimate of a $14.9 million loss.
Despite the disappointing financial results, analysts at Wells Fargo maintained their "Buy" rating on Tandem Diabetes Care, citing the company's positioning for growth with the recent FDA approval of its Control IQ+ technology. However, the market reacted negatively to the weaker-than-expected earnings, leading to the significant after-hours stock price decline.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.