Tandem Diabetes Care Inc 2025年度报告

Two pumps. Two personalities.One year ofBetter Control. TandemMobi +Android Tandem Mobi is powered by Control-IQ+technology — thetested and trustedsystemthat deliversbest-in-classoutcomes.Now Android users canfine-tune diabetesmanagementby creating a customizedexperience with up to six Personal Profiles. Michaeldiagnosed 1972 Adhesive sleevesold separately. UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549_________________________________________________________________ FORM 10-K_________________________________________________________________ ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number 001-36189_________________________________________________________________ Tandem Diabetes Care, Inc. (858) 366-6900Registrant’s telephone number, including area codeSecurities registered pursuant to Section 12(b) of the Act: Indicate by check if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements forthe past 90 days. Yes☒No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See definitions of “large accelerated filer, “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2of the Exchange Act. Large accelerated filerxNon-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒As of June 30, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’s common stock held by non-affiliates was approximately $1.3 billion based on the closing price for the common stock of $18.64 on that date. Shares of commonstock held by each executive officer, director, and their affiliated stockholders have been excluded from this calculation as such persons may be deemed to beaffiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.As of February 16, 2026, there were 68,325,927 shares of the registrant’s common stock outstanding. TABLE OF CONTENTS Part IItem 1Business5Item 1ARisk Factors17Item 1BUnresolved Staff Comments53Item 1CCybersecurity54Item 2Properties55Item 3Legal Proceedings55Item 4Mine Safety Disclosures55Part IIItem 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities56Item 6[Reserved]57Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations58Item 7AQuantitative and Qualitative Disclosure About Market Risk68Item 8Consolidated Financial Statements and Supplementary Data70Item 9Changes in and Disagreements With Accountants on Accounting and Financial Disclosure103Item 9AControls and Procedures103Item 9BOther Information106Part IIIItem 10Directors, Executive Officers and Corporate Governance107Item 11Executive Compensation107Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters107Item 13Certain Relationships and Related Transactions, and Di