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Dexcom Reports Second Quarter 2020 Financial Results
SAN DIEGO--(BUSINESS WIRE)-- DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter ended June 30, 2020. 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, 2020.\n\n\nSecond Quarter 2020 Financial Highlights:\n\n\n\nRevenue grew 34% versus the same quarter of the prior year to $451.8 million\n\n\nU.S. revenue growth of 38% and international revenue growth of 21%\n\n\nGAAP operating income of $67.8 million or 15.0% of revenue, an increase of 1520 basis points compared to the second quarter of 2019. Non-GAAP operating income* of $76.7 million or 17.0% of revenue, an increase of 1510 basis points over the same quarter of the prior year\n\n\nStrengthened balance sheet with successful $1.2 billion convertible note offering\n\n\n\nStrategic Highlights:\n\n\n\nMade Dexcom CGM systems available in the U.S. for use in hospitals and other healthcare facilities to assist frontline workers during the COVID-19 pandemic\n\n\nObtained the CE Mark for use of the Dexcom G6 CGM system on the back of the upper arm\n\n\nAfter the conclusion of the quarter, commenced launch of Dexcom G6 Pro CGM system, the first and only single-use, professional CGM available in blinded and unblinded modes\n\n\n\n“Our growth in the second quarter reflects the commitment of the Dexcom teams to rapidly adjust during the COVID-19 pandemic and ensure service to our customers and our communities,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “We are pleased to reinstate 2020 guidance as we press forward to bring Dexcom CGM to the many more who stand to benefit from real-time glucose monitoring.”\n\n\n2020 Annual Guidance\n\n\nThe company is reinstating guidance for fiscal year 2020 revenue, gross profit, operating margin, and Adjusted EBITDA margin as follows:\n\n\n\nRevenue of approximately $1.850 billion (25% growth)\n\n\nNon-GAAP Gross profit margin to meet or exceed 65%\n\n\nNon-GAAP Operating margin to meet or exceed 14%\n\n\nAdjusted EBITDA margin to meet or exceed 24%\n\n\n\nSecond Quarter 2020 Financial Results\n\n\nRevenue: In the second quarter of 2020, worldwide revenue grew 34% to $451.8 million, up from $336.4 million in the second quarter of 2019. 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: GAAP gross profit totaled $284.1 million or 6...