Tandem Diabetes Care (NASDAQ: TNDM) stock plunged over 8% in after-hours trading on November 6, 2024, despite reporting better-than-expected third-quarter revenue. The sell-off appears to be driven by concerns over the company's profitability and growth prospects.

For the third quarter of 2024, Tandem reported an operating loss of $26.1 million and a net loss of $23.3 million, or $0.35 per share. While the company's net loss improved year-over-year, it seems to have fallen short of investors' expectations.

On the positive side, Tandem's revenue grew by 31.45% year-over-year to $244 million, surpassing the analyst consensus estimate of $223.7 million. The company's sales growth was driven by strong demand for its insulin pumps and supplies, both in the United States and internationally.

However, despite the robust revenue growth, Tandem's profitability remains a concern. The company's guidance for the full year 2024 suggests that it expects to be around breakeven on an adjusted EBITDA basis, which may have disappointed some investors who were hoping for a stronger path to profitability.