Dexcom prelims, outlook

 DexCom, Inc. (Nasdaq: DXCM), the leader in real-time continuous glucose monitoring (“CGM”), today reported that it expects preliminary, unaudited revenue for the fourth quarter ended December 31, 2023 to be at least $1.030 billion, an increase of 26% over the fourth quarter of 2022. U.S. revenue is expected to be approximately $765 million, representing growth of 26% over the fourth quarter of 2022. International revenue is expected to be approximately $265 million, an increase of 27% over the fourth quarter of 2022.

For fiscal 2023, total preliminary, unaudited revenue is expected to be approximately $3.62 billion, an increase of 24% over 2022.

“Dexcom had an incredible year in 2023 with the largest expansion of coverage in our company’s history, a successful rollout of Dexcom G7 in the U.S. and expansion of G7 to more than 15 international markets, and an acceleration in our revenue growth,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “We plan to continue this momentum in 2024 and further expand our addressable market with the expected launch of our first product for people who do not use insulin.”

2024 Outlook

For 2024, Dexcom currently anticipates total revenue of approximately $4.15 billion to $4.35 billion, representing expected organic growth1 of approximately 16% to 21% over 2023. This outlook considers sensor volume growth driven by increasing CGM access and awareness for people with diabetes, the introduction of Dexcom’s product for people who do not use insulin, further international expansion, and overall market dynamics.

In addition, Dexcom currently estimates 2024 Non-GAAP Gross Profit Margin and Non-GAAP Operating Margin to be at the following levels:

• Non-GAAP Gross Profit Margin of approximately 63 – 64%
• Non-GAAP Operating Margin of approximately 20%

Dexcom also announced today that Stelo, its new glucose sensor designed specifically for people with type 2 diabetes who do not use insulin, was submitted to the FDA for review in Q4 2023. Stelo will offer 15-day sensor wear, a cash-pay option and a software experience tailored specifically for non-insulin users. The system is expected to launch in the U.S. in summer 2024.

https://www.businesswire.com/news/home/20240108809977/en/