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Dexcom Reports Second Quarter 2019 Financial Results
SAN DIEGO--(BUSINESS WIRE)-- DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter ended June 30, 2019. Second Quarter
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 ended June 30, 2019.\n\n\nSecond Quarter 2019 Highlights:\n\n\n\nRevenue grew 39% versus the same quarter of the prior year to $336.4 million\n\n\nU.S. revenue growth of 40% and international revenue growth of 33%\n\n\nFeatured prominently at the 79th Scientific Sessions of the American Diabetes Association, including numerous academic papers utilizing Dexcom real-time CGM and multiple next-generation automated insulin delivery systems with Dexcom CGM integration\n\n\n\n“Dexcom generated another outstanding quarter of growth as physicians and people with diabetes continue to embrace real-time CGM and the demonstrated benefits of Dexcom’s G6 system,” said Kevin Sayer, Dexcom’s Chairman, President and CEO. “In light of our strong first half performance, we are once again pleased to raise our outlook for 2019 and remain confident in Dexcom’s long-term growth opportunity.”\n\n\n2019 Annual Guidance\n\n\nDexcom updated its revenue, operating margin, and adjusted EBITDA expectations and reiterated gross profit guidance for full fiscal year 2019:\n\n\n\nRevenue of $1.325 billion to $1.375 billion (28 - 33% growth) compared to previous expectations of $1.25 billion to $1.30 billion (21 - 26% growth)\n\n\nGross profit margin of 64% to 65%, consistent with prior guidance\n\n\nNon-GAAP operating margin of approximately 7% versus previous expectations of 6%\n\n\nNon-GAAP adjusted EBITDA margin of approximately 18.5% versus previous expectations of 18%\n\n\n\nSecond Quarter 2019 Financial Results\n\n\nRevenue: In the second quarter of 2019, worldwide revenue grew 39% to $336.4 million, up from $242.5 million in the second quarter of 2018. Volume growth in conjunction with strong new patient additions continues to be the primary driver of revenue growth as awareness of real-time CGM increases.\n\n\nGross Profit: Gross profit totaled $206.5 million or 61.4% of sales for the second quarter of 2019, compared to $153.6 million or 63.3% of sales in the second quarter of 2018.\n\n\nOperating Loss/Income: GAAP operating loss for the second quarter of 2019 was $0.8 million, compared to a GAAP operating loss of $4.9 million for the second quarter of 2018.\n\n\nNon-GAAP operating income* for the second quarter of 2019 was $6.2 milli...