$DXCM (-3.04%) | Dexcom Q3'24 Earnings Highlights

🔹 Revenue: $994.2M (Est. $990.71M) 🟢; UP +2% YoY

🔹 Adj EPS: $0.45 (Est. $0.43) 🟢

🔹 Adjusted Operating Income: $212.0M; DOWN -11% YoY

🔹 GAAP Operating Income: $152.0M; DOWN -26% YoY

Segment Performance:

🔹 Hardware Revenue: $42.4M; DOWN -58% YoY (Est. $64.6M) 🔴

🔹 Sensor and Other Revenue: $951.8M; UP +8.9% YoY (Est. $924.8M) 🟢

Geographic Breakdown:

🔹 U.S. Revenue: $701.9M; DOWN -1.6% YoY (Est. $726.9M) 🔴

🔹 International Revenue: $292.3M; UP +12% YoY (Est. $261.4M) 🟢

2024 Guidance (Reaffirmed):

🔹 Revenue: $4.0B-$4.05B (11-13% organic growth)

🔹 Non-GAAP Gross Margin: ~63%

🔹 Non-GAAP Operating Margin: ~20%

🔹 Adjusted EBITDA Margin: ~29%

Strategic Highlights:

🔸 Launched Stelo, a new over-the-counter biosensor targeting prediabetes and type 2 diabetes patients not on insulin therapy.

🔸 Expanded international product portfolio with Dexcom G7 in Australia and Dexcom ONE+ in France.

🔸 Executed a $750M share repurchase program, maintaining alignment with prior strategic plans.

🔸 Submitted Dexcom G7 15-day CGM system to the FDA for review, extending product innovation pipeline.

CEO Commentary:

🔸 "Dexcom's third quarter results were in line with expectations as our team quickly adapted to evolving business dynamics. We made significant strides in improving execution, setting us up for a strong fourth quarter and momentum into 2025."

— Kevin Sayer, Chairman, President, and CEO