Dexcom Inc

Latest Results (14.08.2024):

Revenue Growth

In the second quarter of 2024, Dexcom Inc. reported a 15% year-over-year increase in revenue, reaching $1.004 billion. This growth was driven by strong new customer additions and increased awareness of real-time continuous glucose monitoring (CGM) systems. U.S. revenue grew by 19%, while international revenue saw a 7% increase on a reported basis.

Operating Income

Dexcom Inc. achieved a GAAP operating income of $158.0 million for Q2 2024, which represents 15.7% of revenue. This marks an increase of 100 basis points compared to the same quarter in 2023. On a non-GAAP basis, operating income was $195.4 million, or 19.5% of reported revenue, showing an increase of 130 basis points year-over-year.

Net Income

For the second quarter of 2024, Dexcom Inc. reported a GAAP net income of $143.5 million, or $0.35 per diluted share. This is an improvement from the GAAP net income of $115.9 million, or $0.28 per diluted share, reported in Q2 2023. Non-GAAP net income for Q2 2024 was $174.3 million, or $0.43 per diluted share, compared to $139.4 million, or $0.34 per diluted share, in the same period last year.

Gross Profit

Dexcom Inc.'s GAAP gross profit for Q2 2024 was $626.7 million, representing 62.4% of revenue. This is a slight decrease from the 62.7% gross profit margin reported in Q2 2023. On a non-GAAP basis, gross profit was $638.1 million, or 63.5% of reported revenue, consistent with the 63.5% margin achieved in the second quarter of 2023.

Cash and Liquidity

As of June 30, 2024, Dexcom Inc. held $3.12 billion in cash, cash equivalents, and marketable securities. The company’s revolving credit facility remains undrawn, providing significant financial and strategic flexibility as Dexcom continues to expand production capacity and explore new market opportunities.