Financial Data and Key Metrics Changes - The company reported worldwide revenue of $1.21 billion for Q3 2025, a 22% increase compared to $994 million in Q3 2024, with organic revenue growth of 20% [20][21] - U.S. revenue reached $852 million, up 21% from $702 million in the same quarter last year [20][21] - Gross profit was $741.3 million, representing 61.3% of revenue, down from 63.0% in Q3 2024 [22] - Operating income was $272.9 million, or 22.6% of revenue, compared to $212.0 million, or 21.3% in Q3 2024 [24] - Net income for Q3 was $242.5 million, or $0.61 per share, marking the highest quarterly earnings per share in the company's history [24] Business Line Data and Key Metrics Changes - The company experienced strong growth in Type 2 diabetes segments, with new customer starts increasingly coming from this population due to expanded coverage [8][20] - The introduction of Dexcom Smart Basal aims to enhance the management of basal insulin for Type 2 customers, addressing their specific needs [11][12] - Stelo surpassed $100 million in revenue within its first year, indicating strong market acceptance and growth potential [13][14] Market Data and Key Metrics Changes - International revenue grew 22% to $357.4 million, with organic growth of 18%, marking the third consecutive quarter of accelerating international growth [21] - France and Canada were highlighted as strong markets, with France showing consistent growth due to new coverage [21] Company Strategy and Development Direction - The company is focused on expanding coverage for Type 2 diabetes patients, aiming to secure access for the entire population of over 25 million Americans [9][10] - The launch of the G7 15 Day system is anticipated to enhance the company's product offerings and market position [14][15] - The company is committed to improving customer experience through new digital platforms and ongoing software updates [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, emphasizing the importance of expanding access to CGM for Type 2 diabetes patients [8][9] - The company acknowledged challenges related to sensor deployment but indicated improvements have been made, leading to a positive outlook for Q4 and beyond [34][35] - Management expects to return to record levels of new patient starts in 2026, driven by existing coverage and potential new coverage opportunities [77] Other Important Information - The company raised its revenue guidance for 2025 to a range of $4.630 billion to $4.650 billion, reflecting approximately 15% growth for the year [25] - Operating expenses increased to $468.4 million in Q3 2025, up from $413.9 million in Q3 2024, as the company continues to invest in R&D [24] Q&A Session Summary Question: Insights on 2026 growth estimates - Management refrained from providing specific guidance for 2026 but indicated a positive outlook based on current coverage and access to CGM [30][31] Question: G7 performance and deployment issues - Management confirmed that deployment challenges have been addressed, and they expect improvements in new starts and prescribing patterns moving forward [34][35] Question: Growth in new patient segments - The company noted strong performance across all Type 2 markets, including intensive and non-insulin users, and is actively exploring marketing strategies to drive uptake [40][41] Question: Expanded coverage potential for 2026 - Management stated that the base case for guidance includes current coverage, with potential for expanded coverage being a positive but not guaranteed factor [44][45] Question: 15 Day sensor launch and revenue contribution - The company is excited about the upcoming broader launch of the 15 Day sensor, with expectations for it to contribute to revenue growth in 2026 [52][53] Question: Gross margin and scrap rate issues - Management indicated that scrap and freight issues have impacted margins but expect improvements as they transition back to more cost-efficient shipping methods [70][72]