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Dec 31, 2024
DexCom Q4 2024 Earnings Report
DexCom reported solid revenue growth but faced margin compression.
Key Takeaways
DexCom achieved 8.00% YoY revenue growth in Q4 2024, reaching $1,113,500,000. However, net income declined significantly by 40.80% YoY due to increased operating expenses and margin pressure.
Revenue increased by 8.00% YoY, reaching $1,113,500,000.
International revenue growth of 17.00% outpaced U.S. revenue growth of 4.00%.
Net income declined 40.80% YoY, mainly due to higher expenses and margin compression.
GAAP operating margin dropped 400 bps YoY to 17.00%.
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 expects continued revenue growth in 2025, with strong international expansion and improving margins.
Positive Outlook
- Projected revenue growth of 14.00% to approximately $4,600,000,000.
- Non-GAAP gross profit margin expected between 64.00% and 65.00%.
- Non-GAAP operating margin projected at approximately 21.00%.
- Adjusted EBITDA margin expected to reach 30.00%.
- Expansion of reimbursement coverage in France for Dexcom ONE+ product.
Challenges Ahead
- Margin pressure persists despite projected improvements.
- U.S. revenue growth remains relatively slow at 4.00% in Q4 2024.
- Hardware revenue saw a significant decline of 49.00% YoY.
- Increasing operating expenses continue to impact profitability.
- Potential headwinds from foreign exchange fluctuations in international markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income