Tandem Diabetes Care Inc (TNDM)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	367,690	389,918	404,590	404,801	412,987	411,193	403,513	394,021	376,215	353,042	321,610	283,546	260,520	230,236	215,606	211,120	194,212	175,475	146,588	111,771
Revenue (ttm)	US$ in thousands	739,136	762,842	785,031	789,444	796,589	786,083	761,228	733,133	697,845	655,914	596,546	531,931	490,754	431,087	406,936	394,167	362,230	330,031	274,984	212,752
Gross profit margin		49.75%	51.11%	51.54%	51.28%	51.84%	52.31%	53.01%	53.74%	53.91%	53.82%	53.91%	53.31%	53.09%	53.41%	52.98%	53.56%	53.62%	53.17%	53.31%	52.54%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $367,690K ÷ $739,136K
= 49.75%

The gross profit margin of Tandem Diabetes Care Inc has shown a downward trend over the past several quarters. The margin decreased from 53.41% in Q1 2022 to 49.17% in Q4 2023. This decline indicates that the company's cost of goods sold as a percentage of revenue has been increasing, affecting its overall profitability at the gross level. While the margin fluctuations are relatively small, management may need to closely monitor and potentially address any cost inefficiencies to maintain healthy profit margins in the future.