Press release
Dexcom Reports Second Quarter 2023 Financial Results
SAN DIEGO--(BUSINESS WIRE)-- DexCom, Inc. (Nasdaq: DXCM) today reported its financial results as of and for the quarter ended June 30, 2023. 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, 2023.\n\n\nSecond Quarter 2023 Financial Highlights:\n\n\n\nRevenue grew 25% versus the same quarter of the prior year to $871.3 million on a reported basis and 26% on an organic1 basis.\n\n\n\nU.S. revenue growth of 21% and international revenue growth of 38% on a reported basis. International revenue growth was 40% on an organic1 basis.\n\n\n\nGAAP operating income of $128.1 million or 14.7% of revenue, an increase of 360 basis points compared to the second quarter of 2022. Non-GAAP operating income* of $158.4 million or 18.2% of reported revenue, an increase of 360 basis points compared with the same quarter of the prior year.\n\n\n\n1 Second quarter of 2023 organic revenue is $875.9 million and excludes $4.6 million of foreign exchange impact.\n\n\nSecond Quarter 2023 Strategic Highlights:\n\n\n\nProvided key strategic updates and increased long-term financial outlook at company’s 2023 Investor Day\n\n\n\nShowcased future potential of Dexcom CGM within diabetes care and beyond through significant research presence at the American Diabetes Association’s 83rd Scientific Sessions\n\n\n\nInitiated commercial production at Malaysia manufacturing facility, representing key milestone in long-term capacity plans\n\n\n\nCompleted a $1.25 billion senior convertible notes offering, creating additional financial flexibility for company\n\n\n\n“In the second quarter, we advanced several key strategic initiatives and shared our latest vision for the future of Dexcom at our 2023 Investor Day,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “Given our strong start to the year and rapidly growing market opportunity, we are pleased to raise our 2023 revenue and margin guidance.”\n\n\n2023 Annual Guidance\n\n\nThe company is increasing fiscal year 2023 guidance for revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Margin, and Adjusted EBITDA Margin at the following levels:\n\n\n\nRevenue of approximately $3.500 - 3.550 billion (20-22% growth)\n\n\n\nNon-GAAP Gross Profit Margin of approximately 63%\n\n\n\nNon-GAAP Operating Margin of approximately 17%\n\n\n\nAdjusted EBITDA Margin of approximately 26.5%\n\n\n\nSecond Quarter 2023 Financial Results\n\n\nRevenue: In the second quarter of 2023, ...