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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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