Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock began trading on the Nasdaq Global Market on November 14, 2013 under the symbol “TNDM.” Prior to such time, there was no public market for our common stock. The following table sets forth the high and low intraday sales prices per share of our common stock as reported on the Nasdaq Global Market for the period indicated.
Price Range
High Low
Year Ended December 31, 2020
First Quarter $ 91.65 $ 43.69
Second Quarter $ 99.33 $ 59.24
Third Quarter $ 116.89 $ 91.93
Fourth Quarter $ 123.74 $ 84.56
Year Ended December 31, 2019
First Quarter $ 74.81 $ 32.00
Second Quarter $ 72.19 $ 51.37
Third Quarter $ 74.30 $ 56.69
Fourth Quarter $ 71.99 $ 52.31
Holders of Record
As of February 19, 2021, there were approximately 44 holders of record of our common stock. The actual number of common stockholders is greater than the number of record holders, and includes stockholders who are beneficial owners, but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include stockholders whose shares may be held in trust by other entities.
Securities Authorized for Issuance under Equity Compensation Plans
Information about our equity compensation plans, as set forth in this Annual Report under the caption “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” in Part III, Item 12, is incorporated herein by reference.
Unregistered Sales of Equity Securities
None.
Repurchases of Equity Securities
We did not repurchase any of our equity securities during the years ended December 31, 2020 and 2019.
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PART II
Item 6. Selected Financial Data.
The selected financial data presented below under the heading “Consolidated Statement of Operations Data” for the years ended December 31, 2020, 2019, and 2018 and the selected financial data presented below under the heading “Consolidated Balance Sheet Data” as of December 31, 2020 and 2019 have been derived from our audited consolidated financial statements included in Part II, Item 8 of this Annual Report. The selected financial data presented below under the heading “Consolidated Statement of Operations Data” for the years ended December 31, 2017 and 2016 and the selected financial data presented below under the heading “Consolidated Balance Sheet Data” as of December 31, 2018, 2017 and 2016 are derived from our audited consolidated financial statements not included in this Annual Report. The selected financial data presented below should be read in conjunction with the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and the consolidated financial statements and the related notes in Part II, Item 8. Our historical financial results for any prior period are not necessarily indicative of results to be expected in any future period.
Consolidated Statement of Operations Data :
(in thousands, except per share data) Year Ended December 31,
2020 2019 2018 2017 2016
Sales $ 498,830 $ 362,305 $ 183,866 $ 107,601 $ 84,248
Cost of sales 238,310 168,093 94,044 63,507 60,656
Gross profit 260,520 194,212 89,822 44,094 23,592
Operating expenses:
Selling, general and administrative 204,903 165,735 105,226 86,377 82,834
Research and development 63,574 45,199 29,227 20,661 18,809
Total operating expenses 268,477 210,934 134,453 107,038 101,643
Operating loss (7,957) (16,722) (44,631) (62,944) (78,051)
Total other income (expense), net (28,325) (7,882) (77,929) (10,081) (5,411)
Loss before income taxes (36,282) (24,604) (122,560) (73,025) (83,462)
Income tax expense (benefit) (1,900) 149 51 8 (15)
Net loss $ (34,382) $ (24,753) $ (122,611) $ (73,033) $ (83,447)
Net loss per share, basic and diluted $ (0.56) $ (0.42) $ (2.55) $ (12.87) $ (27.30)
Weighted average shares used to compute basic and diluted net loss per share 60,990 58,507 48,129 5,677 3,057
Consolidated Balance Sheet Data :
(in thousands) As of December 31,
2020 2019 2018 2017 2016
Cash and cash equivalents $ 94,613 $ 51,175 $ 41,826 $ 13,700 $ 44,678
Short-term investments $ 390,323 $ 125,283 $ 87,201 $ 479 $ 8,860
Working capital $ 533,383 $ 176,745 $ 121,597 $ 28,071 $ 60,616
Property and equipment, net $ 50,022 $ 32,923 $ 17,151 $ 19,631 $ 18,409
Total assets $ 716,415 $ 326,110 $ 206,294 $ 95,346 $ 112,392
Notes payable $ 202,984 $ — $ — $ 76,541 $ 78,960
Total stockholders’ equity (deficit) $ 366,305 $ 194,979 $ 131,275 $ (29,148) $ (5,927)
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