Press release
Dexcom Reports Fourth Quarter and Fiscal Year 2023 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, 2023.\n\n\nFourth Quarter 2023 Financial Highlights:\n\n\n\nRevenue grew 27% versus the same quarter of the prior year to $1.03 billion on a reported basis and 26% on an organic1 basis.\n\n\n\nU.S. revenue growth of 27% and international revenue growth of 27% on a reported basis. International revenue growth was 23% on an organic1 basis.\n\n\n\nGAAP operating income of $216.9 million or 21.0% of revenue, an increase of 560 basis points compared to the fourth quarter of 2022. Non-GAAP operating income* of $242.7 million or 23.5% of reported revenue, an increase of 240 basis points compared with the same quarter of the prior year.\n\n\n\nFull Year 2023 Financial Highlights:\n\n\n\nFull year revenue grew 24% versus the prior year to $3.62 billion on a reported basis and 24% on an organic2 basis.\n\n\n\nU.S. revenue growth of 23% and international revenue growth of 30% on a reported basis. International revenue growth was 30% on an organic2 basis.\n\n\n\nGAAP operating income of $597.7 million or 16.5% of revenue, an increase of 310 basis points compared to 2022. Non-GAAP operating income* of $718.6 million or 19.8% of revenue, an increase of 310 basis points over the prior year.\n\n\n\nFourth Quarter 2023 Strategic Highlights:\n\n\n\nSubmitted Stelo, Dexcom’s new glucose sensor for people with type 2 diabetes who do not use insulin, to the FDA for review.\n\n\n\nAdvanced pump connectivity with the integration of Dexcom G7 and Tandem Diabetes Care’s t:slim X2 insulin pump software, as well as the iLet Bionic Pancreas from Beta Bionics, supporting greater customer choice in insulin delivery.\n\n\n\nSubmitted Dexcom’s direct-to-watch feature, which will enable customers to use a smartwatch as their primary receiver, to the FDA for review.\n\n\n\nIn support of National Diabetes Month, partnered with several Dexcom Warriors in a global awareness campaign to advocate for greater access to diabetes technology.\n\n\n\n“2023 was an incredible year for Dexcom with significantly expanded access, another year of record new customer starts, and growing momentum behind our global rollout of Dexcom G7,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “We are looking forward to another...