Tandem Diabetes Care, Inc.

Thank you for standing by and welcome to Tandem's fourth quarter and year-end 2021 earnings call. At this time, all participants are in a listen-only mode. After the speaker 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 may be recorded. Should you require any further assistance, please press star 0. I would now like to hand the conference over to your host. EVP and Chief Administrative Officer, Susan Morrison. You may begin.

Thanks, Lateef. Good afternoon, everyone, and thank you for joining Tandem's fourth quarter and year-end 2021 earnings call. Today's discussion will include forward-looking statements. These statements reflect management's expectations about future events, product development timelines, 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 and in our other SEC filings. 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. Hosting today's call are John Sheridan, our President and CEO, Brian Hanson, Executive Vice President and Chief Commercial Officer, and Lee Vossler, our Executive Vice President 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 and one follow-up before getting back into the queue. I'll now turn the call over to John.

Thank you, Susan, and welcome everyone to today's call. As you can see in today's results, the fourth quarter was a strong finish to an impressive year for Tandem. In looking back at the highlights of the year, we set record sales for both the quarter and the year. We also furthered our leadership position in markets outside the United States with expanded international launch of our ControlIQ technology. Operationally, we focused on continuous improvement throughout our business, and we reached an impressive milestone of achieving our first year of positive operating margin. Finally, as we highlighted at our R&D day late last year, we furthered our product development efforts to support our near and longer-term portfolio. In addition to these accomplishments, just last week, we achieved the exciting milestone of FDA clearance of a mobile app that enables our T-SlimX2 pump users to bolus insulin from their smartphone. With this clearance, we are adding to the list of tandem firsts, as this is the first-ever FDA-cleared smartphone app capable of initiating insulin delivery on both iOS and Android operating systems. Organizationally, we've also been enhancing our structure over the past few quarters with the creation of new senior leadership positions. We've welcomed talented and experienced individuals who complement and strengthen our management team as we scale the business and prepare for continued growth, near-term product launches, and the execution of our longer-term strategy. It's an important step as Tandem has a great opportunity to further our market-leading position in diabetes care. Our installed base has nearly quadrupled in the past three years, which is evidence that our innovations drive adoption. I am proud that nearly 330,000 people worldwide use the T-Slim X2 for their therapeutic management. Credit for these achievements goes to our talented employees who have demonstrated great flexibility and an outstanding commitment to improving the lives of people living with diabetes. As we look ahead, 2022 is positioned to be another exciting year for Tandem. We're also being mindful of and prepared to continue navigating the challenges associated with the pandemic. It's encouraging to see headlines showing a decline in COVID-19 cases, but as we've seen historically, things can oscillate quickly. In addition, the broader effects of the pandemic, such as staffing challenges in the clinics we serve and the global supply chain headwinds, will take time to recover and will trail case rate improvements. That being said, While pandemic-related uncertainties still remain, our focus and commitments to achieving our goal is unwavering. Importantly, our growth drivers from recent years are still in place today. These include an underlying worldwide market that remains large and underpenetrated, a robust competitive conversion opportunity, strong demand for our automated insulin dosing technology, our innovative product pipeline, the positively different experience we provide our customers, and the growing renewal opportunity from our current customers who are eligible to purchase a new tandem pump again. Brian Hanson, our EVP and Chief Commercial Officer, has seen each of these firsthand, and I'd now like to turn the call over to him for him to share his perspective on the quarter and the year ahead.