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Jun 30
DexCom Q2 2025 Earnings Report
DexCom reported its financial results for the second quarter of 2025, showing revenue growth and an increase in GAAP operating income, alongside an update to its full-year 2025 guidance and an announcement regarding CEO succession.
Key Takeaways
DexCom delivered strong financial results in the second quarter of 2025, with revenue growing 15% year-over-year to $1.157 billion. The company saw an increase in GAAP operating income and reported solid GAAP and non-GAAP net income and EPS. DexCom also raised its fiscal year 2025 revenue guidance and announced a CEO succession plan.
Revenue for Q2 2025 increased by 15% year-over-year to $1.157 billion, demonstrating strong top-line growth.
GAAP operating income rose significantly to $212.6 million, representing 18.4% of revenue, a 270 basis point increase from the prior year.
The company received FDA clearance for its Dexcom G7 15 Day CGM System and launched an AI-based Smart Food Logging feature, enhancing its product portfolio.
DexCom raised its fiscal year 2025 revenue guidance to $4.600 - $4.625 billion and announced Jake Leach will succeed Kevin Sayer as CEO effective January 1, 2026.
DexCom
DexCom
DexCom Revenue by Segment
DexCom Revenue by Geographic Location
Revenue by Segment
Sensor and other Revenue
CapyFin.comHardware Revenue
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U.S. Revenue
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CapyFin.com Forward Guidance
DexCom is raising its fiscal year 2025 revenue guidance and reiterating guidance for Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin.
Positive Outlook
- Raised fiscal year 2025 revenue guidance to $4.600 - $4.625 billion, indicating continued strong growth expectations.
- Reiterated Non-GAAP Gross Profit Margin guidance of approximately 62% for fiscal year 2025.
- Reiterated Non-GAAP Operating Margin guidance of approximately 21% for fiscal year 2025.
- Reiterated Adjusted EBITDA Margin guidance of approximately 30% for fiscal year 2025.
- Anticipated launch of Dexcom G7 15 Day System in the second half of 2025 is expected to drive commercial momentum.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- The company did not provide specific numerical guidance for GAAP metrics, only non-GAAP.
- The organic revenue growth, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin estimates for fiscal year 2025 are not reconciled to GAAP due to uncertainty and control issues.
- The transition of CEO effective January 1, 2026, while planned, represents a leadership change.
- The company did not provide specific guidance on potential impacts from competitive pressures or market saturation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income