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Jun 30, 2024
DexCom Q2 2024 Earnings Report
Dexcom's revenue grew, strategic initiatives advanced, but execution fell short of expectations, leading to updated guidance and a share repurchase program announcement.
Key Takeaways
DexCom reported a 15% year-over-year revenue increase to $1.004 billion for Q2 2024. The company launched Direct-to-Watch, secured coverage for Dexcom ONE in France, and advanced pump connectivity. However, execution did not meet expectations, prompting updated fiscal year 2024 guidance and a $750 million share repurchase program.
Revenue increased by 15% year-over-year to $1.004 billion.
U.S. revenue grew by 19%, while international revenue increased by 7%.
GAAP operating income was $158.0 million, representing 15.7% of revenue.
Launched Direct-to-Watch in the U.S. and several international markets.
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 Non-GAAP Gross Profit Margin, and reiterating guidance for Non-GAAP Operating Margin and Adjusted EBITDA Margin. Third quarter 2024 Revenue of approximately $975 million to $1.00 billion (1 - 3% organic growth).
Positive Outlook
- Revenue of approximately $4.00 - 4.05 billion (11 - 13% organic growth)
- Non-GAAP Gross Profit Margin of approximately 63%
- Non-GAAP Operating Margin of approximately 20%
- Adjusted EBITDA Margin of approximately 29%
- Third quarter 2024 Revenue of approximately $975 million to $1.00 billion (1 - 3% organic growth)
Revenue & Expenses
Visualization of income flow from segment revenue to net income