Tandem Diabetes Care, Inc.

Good day, and thank you for standing by. Welcome to the Tandem Diabetes Care Second Quarter 2021 Earnings Conference Call. At this time, all participants are in a listening mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Susan Morrison, Executive Vice President and Chief Administrative Officer. Please go ahead.

Thank you. Good afternoon, everyone, and thanks for joining Tandem's 2021 Second Quarter Earnings Call. Today's discussion will include forward-looking statements. These statements reflect management's expectations about future events, product development timelines, and financial performance and operating plans, and speak only as of today's date. There are risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in our forward-looking statements. A list of factors that could cause actual results to be materially different from those expressed or implied by any of these forward-looking statements is highlighted in our press release issued earlier today and under the risk factors portion and elsewhere in our most recent annual report on Form 10-K, quarterly report on Form 10-Q, and in our other SEC filing. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or other factors. In addition, today's discussion will include references to adjusted EBITDA, which is a non-GAAP financial measure, Adjusted EBITDA is a key measure used by us to evaluate operating performance, generate future operating plans, and make strategic decisions for the allocation of capital. Please refer to our press release issued earlier today for further information. Today's call will be led by John Sheridan, our President and CEO, along with Brian Hansen, our EVP and Chief Commercial Officer, and Lee Vossler, our EVP and Chief Financial Officer. Following the prepared remarks, we'll open up the call for questions. Thank you in advance for limiting yourself to one question before getting back in the queue. I'll now turn the call over to John.

Thank you, Susan, and welcome everyone to today's call. We are pleased to report another quarter of remarkable growth that far exceeded both our most recent guidance and market expectations. Our strength in the quarter was driven by both new customer demand and increasing renewal purchases from our installed base, and as a result, our worldwide sales grew 58%. In fact, we have now grown at rates exceeding 40% in nearly every quarter since we launched our first major software update on the T-Slim X2 in late 2017. I am proud not only of the significant progress we are making in expanding and further penetrating the insulin pump market in the U.S., but also the rapid uptake we are seeing in countries where we have just recently entered and where our business opportunity is at a very early stage. Just as important, we are continuing to provide superior care and support our customers both directly and in collaboration with our distribution partners. At the same time, we are looking to the future by advancing our product development efforts, and we are working to enhance both customers' and prescribers' experience with our company while managing our business with increased leverage and efficiency. Our worldwide install base has grown to nearly 270,000 people, and we are on track to achieve our goal of having at least half a million customers by year-end 2024. On these calls, we regularly talk about metrics like shipments and installed base, but behind each of these numbers are individual people, and diabetes remains a very personal disease. One of our customers, an endurance athlete and tandem ambassador named Sebastian Sasseville, recently completed an incredible journey to raise awareness for the JDRF campaign, Access Matters, by successfully cycling across Canada in only 14 days. It is a story like this that motivates here at Tandem, and we are proud that our TCMx2 with Control IQ can help people like Sebastian on adventures like this one. Congratulations again, Sebastian, for your remarkable achievement, and thank you for inspiring us to keep innovating. At Tandem, our connection with our customers and the diabetes community is rooted deep in our company culture. No one knows us better than Brian Hanson, who is connected to our customers each day, both directly and through our sales, customer service, and clinical teams. There's been a lot of interest this past quarter in our commercial environment, and so Brian joined us today to provide color on the quarter and his broader perspective. Brian?