Revenue Performance - In Q1 2025, Dexcom reported worldwide revenue of $1.036 billion, a 12% increase from $921 million in Q1 2024[4] - U.S. revenue grew 15% year-over-year to $750.5 million, while international revenue increased by 7% to $285.5 million[24] - Total revenue for the three months ended March 31, 2025, was $1,036.0 million, representing a year-over-year growth of 12% compared to $921.0 million in 2024[26] - Sensor and other revenue increased to $997.2 million, a 17% growth year-over-year, accounting for 96% of total revenue[26] - Hardware revenue decreased to $38.8 million, reflecting a decline of 42% year-over-year, making up 4% of total revenue[26] Profitability Metrics - GAAP gross profit for Q1 2025 was $589 million, representing 56.9% of revenue, down from 61.0% in Q1 2024[4] - Non-GAAP gross profit was $596.2 million, or 57.5% of revenue, compared to 61.8% in Q1 2024[5] - GAAP operating income was $133.7 million, or 12.9% of revenue, up from $101.1 million, or 11.0% of revenue, in Q1 2024[7] - GAAP net income for Q1 2025 was $105.4 million, down from $146.4 million in Q1 2024, while non-GAAP net income was $127.7 million compared to $128.2 million[28] - Adjusted EBITDA for the three months ended March 31, 2025, was $230.4 million, an increase from $220.9 million in the same period last year[27] - GAAP diluted net income per share for Q1 2025 was $0.27, down from $0.36 in Q1 2024, while non-GAAP diluted net income per share remained stable at $0.32[28] Financial Management - Dexcom's cash and cash equivalents totaled $2.70 billion as of March 31, 2025, providing significant financial flexibility[10] - The company announced a $750 million share repurchase program alongside its Q1 results[3] - Interest expense decreased to $(23.8) million in Q1 2025 from $(31.7) million in Q1 2024, indicating improved financial management[27] Future Outlook - The company expects 2025 revenue to reach approximately $4.60 billion, reflecting a 14% growth[6] - Non-GAAP operating margin is projected to be around 21% for 2025[6] Product Development - Dexcom received FDA clearance for the Dexcom G7 15 Day System shortly after the end of the quarter[5] Investment Performance - The company reported a loss from equity investments of $4.2 million in Q1 2025, with no such loss reported in Q1 2024[27] Operational Focus - The company continues to focus on organic revenue growth and has excluded certain non-recurring items from its non-GAAP financial measures to provide clearer insights into operational performance[30][34]
DexCom(DXCM) - 2025 Q1 - Quarterly Results