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Mar 31, 2023
DexCom Q1 2023 Earnings Report
Dexcom's financial performance in Q1 2023 showed revenue growth and strategic advancements.
Key Takeaways
Dexcom's first quarter 2023 results showed strong revenue growth of 18% year-over-year, driven by volume growth and new customer additions. The company launched Dexcom G7 in the United States and finalized coverage with the US Centers for Medicare & Medicaid Services. The company raised its 2023 revenue guidance.
Revenue grew 18% versus the same quarter of the prior year to $741.5 million.
U.S. revenue growth of 17% and international revenue growth of 21%.
GAAP operating income of $47.2 million or 6.4% of revenue.
Initiated the launch of Dexcom G7 in the United States.
DexCom
DexCom
DexCom Revenue by Segment
DexCom Revenue by Geographic Location
Revenue by Segment
Sensor and other Revenue
CapyFin.comHardware Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The company is updating fiscal year 2023 revenue guidance, and reiterating guidance for Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin and Adjusted EBITDA Margin at the following levels:
Positive Outlook
- Revenue of approximately $3.400 - 3.515 billion (17-21% growth)
- Non-GAAP Gross Profit Margin of 62-63%
- Non-GAAP Operating Margin of approximately 16.5%
- Adjusted EBITDA Margin of approximately 26%
Revenue & Expenses
Visualization of income flow from segment revenue to net income