DexCom Q2 2020 Earnings Report
Key Takeaways
DexCom reported a strong second quarter with revenue growth of 34% compared to the same quarter of the prior year, reaching $451.8 million. GAAP operating income was $67.8 million, representing 15.0% of revenue, and GAAP net income was $46.3 million, or $0.48 per diluted share. The company reinstated its 2020 revenue guidance to approximately $1.850 billion.
Revenue grew 34% versus the same quarter of the prior year to $451.8 million.
U.S. revenue growth of 38% and international revenue growth of 21%.
GAAP operating income of $67.8 million or 15.0% of revenue.
Strengthened balance sheet with successful $1.2 billion convertible note offering.
DexCom
DexCom
DexCom Revenue by Segment
DexCom Revenue by Geographic Location
Forward Guidance
The company is reinstating guidance for fiscal year 2020 revenue, gross profit, operating margin, and Adjusted EBITDA margin as follows:
Positive Outlook
- Revenue of approximately $1.850 billion (25% growth)
- Non-GAAP Gross profit margin to meet or exceed 65%
- Non-GAAP Operating margin to meet or exceed 14%
- Adjusted EBITDA margin to meet or exceed 24%
Revenue & Expenses
Visualization of income flow from segment revenue to net income