Just caught Tandem's latest earnings drop and there's some interesting stuff in the numbers. Q4 revenue came in at $290.38 million, which is solid - up 15% year-over-year and actually beat expectations by over 5%. The EPS situation improved significantly too, going from negative 0.44 last year to negative 0.01 this quarter, so that's definitely moving in the right direction.

What caught my attention was the pump shipment data. Tandem shipped 38,000 pumps globally last quarter, beating analyst estimates of 35,000. International shipments were particularly strong at 11,000 units versus the expected 9,400. The US domestic side came in at 27,000 units, also above the 25,632 consensus estimate. Looks like their distribution is expanding faster than people anticipated.

On the revenue breakdown, US sales hit $210.46 million while international brought in $79.92 million. The pump business specifically showed nice momentum with $140.06 million in revenue, up 12.8% from last year. Supplies and other revenue pushed $150.32 million, jumping 17.2% year-over-year. That recurring supplies revenue stream seems to be accelerating, which is the kind of thing investors usually like to see.

Tandem stock has been down about 8.7% over the past month though, underperforming the broader market. Currently sitting at a Zacks Rank 3, which suggests it's expected to move with the market rather than outperform. The earnings beat is solid, but the market seems to be pricing in other concerns at the moment.