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Mar 31, 2024
DexCom Q1 2024 Earnings Report
Dexcom reported strong financial results driven by volume growth and new customer additions, while also advancing key strategic initiatives such as receiving FDA clearance for Stelo and launching Dexcom ONE+ in Europe.
Key Takeaways
Dexcom reported a strong start to 2024 with revenue growth of 24% year-over-year to $921.0 million. The company also received FDA clearance for Stelo and launched Dexcom ONE+ in eight European countries.
Revenue grew 24% year-over-year to $921.0 million.
U.S. and International revenue both grew 24% year-over-year.
GAAP operating income was $101.1 million, or 11.0% of revenue.
FDA clearance was received for Stelo, a new CGM system designed for people with type 2 diabetes not on insulin therapy.
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
Dexcom is updating fiscal year 2024 guidance for Revenue, 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 $4.20 - 4.35 billion (17 - 21% organic growth)
- Non-GAAP Gross Profit Margin of approximately 63 - 64%
- Non-GAAP Operating Margin of approximately 20%
- Adjusted EBITDA Margin of approximately 29%
Revenue & Expenses
Visualization of income flow from segment revenue to net income