Press release
Dexcom Reports Fourth Quarter and Fiscal Year 2022 Financial Results
SAN DIEGO--(BUSINESS WIRE)-- DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter and fiscal year ended December 31,
About this update from Dexcom, Inc.
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nDexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter and fiscal year ended December 31, 2022.\n\nFourth Quarter 2022 Financial Highlights:\n\n\nRevenue grew 17% versus the same quarter of the prior year to $815.2 million on a reported basis and 20% on an organic1 basis.\n\n\nU.S. revenue growth of 17% and international revenue growth of 15% on a reported basis. International revenue growth was 27% on an organic1 basis.\n\n\nGAAP 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.\n\n\nFull Year 2022 Financial Highlights:\n\n\nFull year revenue grew 19% versus the prior year to $2.91 billion on a reported basis and 20% on an organic1 basis.\n\n\nU.S. revenue growth of 16% and international revenue growth of 28% on a reported basis. International revenue growth was 31% on an organic1 basis.\n\n\nGAAP 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.\n\n\nFourth Quarter 2022 Strategic Highlights:\n\n\nReceived 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.\n\n\nIn 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\n\n\nAdvanced international portfolio strategy with the introduction of Dexcom ONE in Belgium, Croatia, Greece, Italy and Romania\n\n\n“2022 proved to be another great year for Dexcom as we delivered record new customer starts, drove multiple new product launches and significantly expanded access to Dexcom CGM around the world,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “As we move into 2023, we are very excited to officially bring G7 to the U.S. market and further advance our strategic initiatives to reach the millions of additional people that ...