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Jun 30, 2023
DexCom Q2 2023 Earnings Report
Reported a 25% revenue increase and raised 2023 revenue and margin guidance.
Key Takeaways
DexCom reported strong second-quarter results with a 25% increase in revenue to $871.3 million. The company also raised its full-year 2023 revenue and margin guidance, reflecting confidence in its growth trajectory and market opportunity.
Revenue grew 25% versus the same quarter of the prior year to $871.3 million.
U.S. revenue growth of 21% and international revenue growth of 38%.
GAAP operating income of $128.1 million or 14.7% of revenue.
Completed a $1.25 billion senior convertible notes offering.
DexCom
DexCom
DexCom Revenue by Segment
DexCom Revenue by Geographic Location
Forward Guidance
The company is increasing fiscal year 2023 guidance for revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin at the following levels:
Positive Outlook
- Revenue of approximately $3.500 - 3.550 billion (20-22% growth)
- Non-GAAP Gross Profit Margin of approximately 63%
- Non-GAAP Operating Margin of approximately 17%
- Adjusted EBITDA Margin of approximately 26.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income