DXCM
DexCom, Inc.66.37
+0.64+0.97%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
T2 NIT coverage imminent; int'l eyes US-scale.
Q&A honed in on Medicare type 2 non-insulin coverage unlocking 12 million lives soon, backed by mid-year RCT data and registry utilization matching basal insulin's 80-85%. No record new patients needed for 2026 guide's low end; patient base grows ~20% with 2 points price. International could surpass US long-term via 15-day global rollout and tiered portfolio. OpEx holds flat as % from Ireland facility ramp, while sell-through strengthens into Q1 amid stable retention. Utilization steady across cohorts. Punchy: Coverage trails US, but evidence closes gap fast. Confident tone; watch CMS call and May investor day.
Key Stats
Market Cap
26.03BP/E (TTM)
36.87Basic EPS (TTM)
1.80Dividend Yield
0%Recent Filings
8-K
Sayer resumes as Executive Chairman
Dexcom's Kevin Sayer returns from leave as Executive Chairman effective March 2, 2026, after retiring as CEO on January 1. He signed a letter agreement for $610,000 annual base salary and $2.35M RSUs vesting March 8, 2027, but no bonuses or severance eligibility. Continuity aids CEO transition. At-will employment.
8-K
Osterloh joins Dexcom board
Dexcom expanded its board to twelve directors and appointed Rick Osterloh, Google's SVP of Platforms & Devices, effective February 26, 2026. Osterloh joins the Compensation and Technology Committees, bringing expertise in consumer hardware, AI integration, and scalable products. He received $500,000 in RSUs vesting over three years. Tech heavyweight joins board.
10-K
FY2025 results
Dexcom's FY2025 delivered $4.66B revenue, up 16% y/y, fueled by 600K-700K net customer adds excluding Stelo amid G7 15 Day launch, yet Q4 supply strains from yield issues and replacements crimped margins to 60.1% from 60.5%. Gross profit climbed 15% to $2.80B while operating income surged 52% to $912M on tighter SG&A discipline post-patent settlement. Cash flow rocketed 46% to $1.44B; $500M share buybacks executed. Medicare bidding looms 2028, pressuring reimbursement. FDA warning letter unresolved.
8-K
Dexcom Q4 revenue up 13%
Dexcom reported Q4 2025 revenue of $1.260B, up 13% YoY, with GAAP operating income surging to $323M or 25.6% of revenue—860 basis points higher than 2024. Full-year revenue hit $4.662B, up 16%, fueled by G7 15-Day launch, FDA-cleared Smart Basal, and Québec expansion. Guidance holds 2026 revenue at $5.16-5.25B. Cash swelled to $2B.
8-K
Q4 revenue $1.26B, 13% up
Dexcom reported preliminary Q4 2025 revenue of ~$1.260B, up 13% YoY, with U.S. at $892M (11% growth) and international $368M (18% rise); full-year revenue hit $4.662B, beating guidance. Jake Leach kicked off CEO tenure January 1 with G7 15 Day pharmacy rollout. 2026 revenue outlook: $5.16-5.25B. Results preliminary, risks noted.
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