Dexcom reports 2025 revenues of $4.66bn yet 2026 outlook lags analyst expectations

Core Insights - Dexcom achieved revenues of $4.66 billion in 2025, reflecting a 16% increase from approximately $4 billion in 2024, with Q4 2025 earnings of $1.26 billion indicating a 12.6% year-over-year rise [1] - The 2026 revenue outlook is projected to be between $5.16 billion and $5.25 billion, which, while showing healthy double-digit growth of 11%–13%, is below analysts' expectations of $5.24 billion [2] Financial Performance - Q4 2025 earnings of $1.26 billion represent a 12.6% increase year-over-year, with an organic growth rate of 12% [1] - The company's market capitalization stands at $25.38 billion, with a slight decline in share price to $64.92 at market open on 13 February, before rallying over 8% by mid-morning [3] Strategic Initiatives - The company aims to enhance awareness of its new G7 15-day device launched in December 2025 and improve customer experience for users of its CGM systems [4] - Dexcom plans to launch Smart Basal, a personalized dosing module for managing type 2 diabetes, which is expected to simplify workflows and improve outcomes for users [5] - The company is focused on expanding its international market presence by raising awareness and increasing access to CGM technology [5] Market Position - In 2025, Dexcom held the second largest CGM market share in the US at 44.7%, trailing Abbott, which has a 48.5% share [6] - Dexcom's market share in regions such as Europe, Asia Pacific, and the Middle East & Africa is significantly lower compared to Abbott [6]