Table of Contents DEXCOM, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-51222 (Exact name of registrant as specified in its charter) Delaware 33-0857544 (State or other jurisdictio ...

The Dexcom logo is seen on a smartphone screen and in the background.Shares of Dexcom tumbled more than 34% in after-hours trading Thursday after the diabetes management company reported disappointing revenue for the second quarter and offered weak guidance.Here's how the company did:Earnings per share: 43 cents adjusted vs. 39 cents expected by LSEGRevenue: $1 billion vs. $1.04 billion expected by LSEGDexcom's revenue increased 15% from $871.3 million a year earlier, according to a release. The company rep ...

Revenue Growth and Financial Performance - Revenue grew 15% year-over-year to $1.004 billion in Q2 2024, with U.S. revenue up 19% and international revenue up 7%[1] - Revenue for the three months ended June 30, 2024, was $1,004.3 million, a 15% year-over-year increase from $871.3 million in 2023[15][16] - U.S. revenue for the three months ended June 30, 2024, was $731.9 million, representing 73% of total revenue and a 19% year-over-year growth[16] - International revenue for the three months ended June 30, 2024, was $272.4 million, a 7% year-over-year increase[16] - Sensor and other revenue for the three months ended June 30, 2024, was $947.0 million, a 22% year-over-year growth and 94% of total revenue[17] - Hardware revenue for the three months ended June 30, 2024, was $57.3 million, a 39% year-over-year decline[17] Operating Income and Profitability - GAAP operating income increased to $158.0 million (15.7% of revenue), up 100 basis points YoY, while Non-GAAP operating income rose to $195.4 million (19.5% of revenue), up 130 basis points YoY[1] - GAAP net income for Q2 2024 was $143.5 million ($0.35 per diluted share), up from $115.9 million ($0.28 per diluted share) in Q2 2023[5] - Non-GAAP gross profit for Q2 2024 was $638.1 million (63.5% of revenue), consistent with the same period in 2023[4] - GAAP net income for the three months ended June 30, 2024, was $143.5 million, compared to $115.9 million in 2023[15] - Non-GAAP net income for the three months ended June 30, 2024, was $174.3 million, compared to $139.4 million in 2023[19] - Adjusted EBITDA for the three months ended June 30, 2024, was $283.9 million, a 22% increase from $232.6 million in 2023[19] - GAAP net income for the three months ended June 30, 2024, was $143.5 million, compared to $115.9 million in the same period in 2023[21] - Non-GAAP net income for the three months ended June 30, 2024, was $174.3 million, compared to $139.4 million in the same period in 2023[21] - GAAP diluted net income per share for the three months ended June 30, 2024, was $0.35, compared to $0.28 in the same period in 2023[21] - Non-GAAP diluted net income per share for the three months ended June 30, 2024, was $0.43, compared to $0.34 in the same period in 2023[21] - Adjusted EBITDA excludes non-cash operating charges for share-based compensation, depreciation, and amortization, as well as non-operating items such as interest income, interest expense, and income tax expense or benefit[28] Product Launches and Market Expansion - The company launched Direct-to-Watch in the U.S. and international markets, enabling G7 customers to use Apple Watch as their primary glucose display[2] - Dexcom secured coverage for Dexcom ONE in France for type 2 diabetes patients using basal insulin, expanding reimbursed access to real-time CGM[2] - Dexcom advanced pump connectivity by integrating G7 with Insulet's Omnipod 5 and Tandem's Mobi insulin pump with Control-IQ technology[2] Financial Guidance and Share Repurchase - Dexcom updated 2024 annual revenue guidance to $4.00 - 4.05 billion, representing 11 - 13% organic growth, and expects Q3 2024 revenue of $975 million to $1.00 billion[3] - The company announced a $750 million share repurchase program alongside Q2 2024 results[3] Cash Position and Expenses - Dexcom held $3.12 billion in cash, cash equivalents, and marketable securities as of June 30, 2024, with an undrawn revolving credit facility[6] - Research and development expenses for the three months ended June 30, 2024, were $136.0 million, a 14% increase from $119.3 million in 2023[15] - Selling, general, and administrative expenses for the three months ended June 30, 2024, were $332.7 million, an 11% increase from $299.0 million in 2023[15] - Business transition and related costs for the three months ended June 30, 2024, were primarily related to workforce reduction costs and rent for vacated office space in San Diego, California[21] - Intellectual property litigation costs for the three months ended June 30, 2024, were $0.05 per share, primarily related to Dexcom's patent infringement litigation against Abbott Diabetes Care, Inc.[21] - Tax adjustments for the three months ended June 30, 2024, were primarily related to the tax effect of non-GAAP adjustments and excess tax benefits from share-based compensation for employees[22] Share and Earnings Metrics - GAAP diluted weighted-average shares outstanding for the three months ended June 30, 2024, were 416.8 million, compared to 431.5 million in the same period in 2023[21] - Non-GAAP diluted weighted-average shares outstanding for the three months ended June 30, 2024, were 409.1 million, compared to 407.8 million in the same period in 2023[21]

DexCom, Inc. (DXCM) is scheduled to release second-quarter 2024 results on Jul 25, after the closing bell. In the last reported quarter, the company’s earnings beat estimates by 18.52%.The bottom line also outpaced the consensus mark in each of the trailing four quarters, delivering an average surprise of 34.10%.Q2 EstimatesCurrently, the Zacks Consensus Estimate for revenues is pegged at $1.04 billion, indicating growth of 19% from the year-ago quarter’s reported figure. The consensus mark for earnings is ...

For Immediate ReleasesChicago, IL – July 16, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: DexCom Inc. (DXCM) , Hologic Inc. (HOLX) , Alcon Inc. (ALC) , Intuitive Surgical Inc. (ISRG) and Thermo Fisher Scientific Inc. (TMO) .Here are highlights from Tuesday’s Analyst Blog:Buy 5 Medical Devices Stocks to Enhance ...

Beaten-down stocks can sometimes present an opportunity.Healthcare stocks may not be the most exciting investments for some, but overlooking these businesses could mean you pass up great companies. These are the businesses that provide essential products and services in a wide range of market environments and economic landscapes.While not all healthcare stocks are created equal, finding intriguing businesses to put cash into and adding those to a well-diversified basket of investments can magnify your retur ...

If you are looking for millionaire-maker stocks to turn a $50,000 portfolio into $1 million in just a decade, I would like to remind you of several things. First, your portfolio would need to compound at around 35% annually. Even if most stocks in your portfolio outperform the broader market going forward and meet expectations, this is very ambitious. Even Warren Buffett’s returns have been around 20% since he started, and these returns have been more in line with the market in the past decade.In addition, ...

Since last October, there has been a marked reduction in fears about the sales of diabetes drugs dropping as a result weight-loss drugs. That’s because Dexcom (NASDAQ:DXCM) delivered stronger-than-expected third-quarter results in October. And during its Q3 earnings call, Dexcom actually reported that when diabetes patients are on the GLP-1 drugs, their demand for glucose monitors tend to rise. Dexcom and other diabetes stocks advanced significantly over the subsequent six months or so, but they have pulled ...

DexCom Inc. (DXCM) recently announced the direct connectivity of the Dexcom G7 Continuous Glucose Monitoring (CGM) system with the Apple Watch. This added feature is now available to users in the United States, the UK and Ireland, with additional markets launching the feature soon.The Dexcom G7 provides customers with the liberty and convenience of real-time glucose readings on their wrist as the first and only CGM system that links directly to the Apple Watch. This feature is likely to provide users confid ...

Shares of DexCom (DXCM) lost almost 3% on Jun 3, probably due to concerns about a rise in competition for its recently approved Stelo as the FDA approved a competing product.The FDA approval for Stelo in March 2024 looked promising as it was the first and only continuous glucose monitoring (CGM) device to receive approval for its over-the-counter (OTC) availability as a glucose biosensor. Stelo represents a significant opportunity as it can be used to get glucose insights directly on a smartphone without a ...