DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter and fiscal year ended December 31, 2022.
Fourth Quarter 2022 Financial Highlights:
Revenue grew 17% versus the same quarter of the prior year to $815.2 million on a reported basis and 20% on an organic1 basis.
U.S. revenue growth of 17% and international revenue growth of 15% on a reported basis. International revenue growth was 27% on an organic1 basis.
GAAP operating income of $125.4 million or 15.4% of revenue, an increase of 1,530 basis points compared to the fourth quarter of 2021. Non-GAAP operating income* of $172.1 million or 21.1% of revenue, an increase of 1,940 basis points compared with the same quarter of the prior year.
Full Year 2022 Financial Highlights:
Full year revenue grew 19% versus the prior year to $2.91 billion on a reported basis and 20% on an organic1 basis.
U.S. revenue growth of 16% and international revenue growth of 28% on a reported basis. International revenue growth was 31% on an organic1 basis.
GAAP operating income of $391.2 million or 13.4% of revenue, an increase of 250 basis points compared to 2021. Non-GAAP operating income* of $485.1 million or 16.7% of revenue, an increase of 510 basis points over the prior year.
Fourth Quarter 2022 Strategic Highlights:
Received FDA clearance for the Dexcom G7 CGM system for people with diabetes ages two years and older. Dexcom G7 represents the most accurate2 and simple CGM system from the most covered3 CGM brand.
In support of National Diabetes Awareness Month, partnered with Dexcom Warriors Patti LaBelle, Mark Andrews and Bambi Northwood-Blyth in an awareness campaign designed to advocate for greater access to diabetes care
Advanced international portfolio strategy with the introduction of Dexcom ONE in Belgium, Croatia, Greece, Italy and Romania
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