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Sep 30
DexCom Q3 2025 Earnings Report
Dexcom reported strong financial results for the third quarter of 2025, with significant revenue growth and increased operating income.
Key Takeaways
Dexcom delivered robust financial performance in Q3 2025, with worldwide revenue increasing by 22% year-over-year to $1.209 billion. The company also saw a substantial rise in GAAP operating income by 480 basis points and non-GAAP operating income by 130 basis points compared to the prior year.
Worldwide revenue grew 22% year-over-year to $1.209 billion.
GAAP operating income reached $242.5 million, representing 20.1% of revenue, a 480 basis point increase.
Non-GAAP operating income was $272.9 million, or 22.6% of reported revenue, up 130 basis points.
U.S. revenue increased by 21% and international revenue grew by 22% on a reported basis year-over-year.
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 raising its fiscal year 2025 guidance for Revenue and updating guidance for Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin.
Positive Outlook
- Raised fiscal year 2025 revenue guidance to $4.630 - $4.650 billion, indicating approximately 15% growth.
- Non-GAAP Gross Profit Margin is expected to be approximately 61%.
- Non-GAAP Operating Margin is projected to be approximately 20-21%.
- Adjusted EBITDA Margin is anticipated to be approximately 29-30%.
- Continued expansion of Dexcom G7 access and introduction of digital platform enhancements.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the report.
- The report does not provide specific negative outlooks for the upcoming periods.
- No explicit mention of potential challenges or headwinds in the forward guidance.
- The report focuses primarily on positive updates and raised guidance.
- No specific risks or concerns were highlighted in the forward guidance section.
Revenue & Expenses
Visualization of income flow from segment revenue to net income