Workflow
DexCom(DXCM) - 2025 Q1 - Quarterly Results
DXCMDexCom(DXCM)2025-05-01 20:03

Revenue Performance - In Q1 2025, Dexcom reported worldwide revenue of 1.036billion,a121.036 billion, a 12% increase from 921 million in Q1 2024[4] - U.S. revenue grew 15% year-over-year to 750.5million,whileinternationalrevenueincreasedby7750.5 million, while international revenue increased by 7% to 285.5 million[24] - Total revenue for the three months ended March 31, 2025, was 1,036.0million,representingayear−over−yeargrowthof121,036.0 million, representing a year-over-year growth of 12% compared to 921.0 million in 2024[26] - Sensor and other revenue increased to 997.2million,a17997.2 million, a 17% growth year-over-year, accounting for 96% of total revenue[26] - Hardware revenue decreased to 38.8 million, reflecting a decline of 42% year-over-year, making up 4% of total revenue[26] Profitability Metrics - GAAP gross profit for Q1 2025 was 589million,representing56.9589 million, representing 56.9% of revenue, down from 61.0% in Q1 2024[4] - Non-GAAP gross profit was 596.2 million, or 57.5% of revenue, compared to 61.8% in Q1 2024[5] - GAAP operating income was 133.7million,or12.9133.7 million, or 12.9% of revenue, up from 101.1 million, or 11.0% of revenue, in Q1 2024[7] - GAAP net income for Q1 2025 was 105.4million,downfrom105.4 million, down from 146.4 million in Q1 2024, while non-GAAP net income was 127.7millioncomparedto127.7 million compared to 128.2 million[28] - Adjusted EBITDA for the three months ended March 31, 2025, was 230.4million,anincreasefrom230.4 million, an increase from 220.9 million in the same period last year[27] - GAAP diluted net income per share for Q1 2025 was 0.27,downfrom0.27, down from 0.36 in Q1 2024, while non-GAAP diluted net income per share remained stable at 0.32[28]FinancialManagement−Dexcom′scashandcashequivalentstotaled0.32[28] Financial Management - Dexcom's cash and cash equivalents totaled 2.70 billion as of March 31, 2025, providing significant financial flexibility[10] - The company announced a 750millionsharerepurchaseprogramalongsideitsQ1results[3]−Interestexpensedecreasedto750 million share repurchase program alongside its Q1 results[3] - Interest expense decreased to (23.8) million in Q1 2025 from (31.7)millioninQ12024,indicatingimprovedfinancialmanagement[27]FutureOutlook−Thecompanyexpects2025revenuetoreachapproximately(31.7) million in Q1 2024, indicating improved financial management[27] Future Outlook - The company expects 2025 revenue to reach approximately 4.60 billion, reflecting a 14% growth[6] - Non-GAAP operating margin is projected to be around 21% for 2025[6] Product Development - Dexcom received FDA clearance for the Dexcom G7 15 Day System shortly after the end of the quarter[5] Investment Performance - The company reported a loss from equity investments of $4.2 million in Q1 2025, with no such loss reported in Q1 2024[27] Operational Focus - The company continues to focus on organic revenue growth and has excluded certain non-recurring items from its non-GAAP financial measures to provide clearer insights into operational performance[30][34]