Slide 1: Dexcom 2026 Investor Day
Dexcom 2026 Investor Day May 14, 2026
Slide 2: Safe harbor statement
This presentation contains “forward-looking statements” that are based on our management’s beliefs and assumptions and on information available to management as of May 14, 2026. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements c
Slide 3: Agenda
Outline Agenda Presenter JAKE LEACH President and Chief Executive Officer JON COLEMAN Chief Commercial Officer JEREME SYLVAIN Chief Financial Officer JAKE LEACH President and Chief Executive Officer Q&A SESSION 3
Slide 4: Jake Leach
Jake Leach President & Chief Executive Officer 4
Slide 5: Executive Summary
Executive Summary 1 2 3 We have a compelling, We are driving health and We are a durable scalable product roadmap economic outcomes that double-digit revenue and tailored to the needs of our unlock global markets cash flow growth company customers 5
Slide 6: Dexcom has led with clinical superiority and emphasis on the customer
Dexcom has led with clinical superiority and emphasis on the customer 6
Slide 7: We've shown the benefits of CGM across diabetes
We’ve shown the benefits of CGM across diabetes… JUNE 2016 JUNE 2021 JUNE 2026 DIAMOND RCT MOBILE RCT TYPE 2 NIT RCT CORE RCTs Readout at ADA’s 2016 JAMA publication Readout at ADA’s 2026 Scientific Sessions and readout Scientific Sessions CUSTOMER Type 1 Type 2 IIT Type 2 Basal Type 2 Non-Insulin 7
Slide 8: Benefits of glucose control extending across metabolic health
…with the benefits of glucose control extending across metabolic health… Demonstrated Improvements in: Cardiovascular Risk1 Weight Management3 Chronic Kidney Disease2 Medication Optimization4 1. Reed et al. “Continuous glucose monitoring for glycaemic control and cardiovascular risk reduction in pat
Slide 9: Meaningful health and economic outcomes
…leading to meaningful health and economic outcomes… ~$19,750 US average annual expense per person with diabetes1 Prescription Inpatient care: Outpatient care: Other: medications & insulin: $7,000 $5,000 $7,250 $500 35% of total 26% of total 37% of total 2% of total Dexcom CGM has demonstrated: 35%
Slide 10: A market leading history of growth
…and driving a market leading history of growth Non-GAAP Revenue ($MM) Installed Base Free Cash Flow1 ($MM) Operating Margin $5,000 $4.6B 4 $1,200 ~$1.1B ~3.5M 24% $4,500 $1,000 $4,000 22% 3 ~21% $3,500 20% $800 Millions Millions Millions $3,000 18% $2,500 2 ~17% $600 $1.9B $2,000 16% $400 $1,500 1
Slide 11: Diabetes remains an escalating health and economic crisis
Diabetes remains an escalating health and economic crisis Diabetes diagnosis Prediabetes Adults (aged 20-79) with diabetes globally1 Adults (aged 18+) with prediabetes in US2 853m in 2050E Greater than 40% of US 589m adults have prediabetes in 2024 People diagnosed with diabetes have More than 1 in
Slide 12: Our three priorities for Dexcom's next phase of growth
Our three priorities for Dexcom’s next phase of growth 01 02 03 Be the premier Set the standard for Expand international glucose sensing customer market share solution for all experience Built on a scalable foundation 12
Slide 13: Strengthening our scalability and pace of innovation
Strengthening our scalability and pace of innovation Org updates Board Governance Updates Dexcom and Elliott Management have agreed to Currently hiring the new role of Chief Product collaborate to identify two new independent Officer, with the goal of accelerating customer- members to the Board of D
Slide 14: Connectivity as a competitive advantage
Connectivity as a competitive advantage Differentiating through hardware and software CUSTOMERS Automated Connected Digital Insulin Delivery Pen Health Apps LOVED ONES HEALTHCARE PROVIDERS 14 14 Epic®, MyChart® and the MyChart logo are trademarks of Epic System Corporation.
Slide 15: Dexcom is the leader in automated insulin delivery
Dexcom is the leader in automated insulin delivery 1,000,000+ Dexcom CGM users connected to an AID system worldwide (AID connectivity since 2018) (AID connectivity since 2022) (AID connectivity since 2022) (AID connectivity since 2023) 15
Slide 16: We are identifying and addressing real clinical needs
We are identifying and addressing real clinical needs Basal Insulin Initiation – Real World Evidence without CGM1 A1C increase over first 6 months HOW DO WE EXPLAIN THE RISE IN A1C? 1.0 • A delay in intensifying therapy • Suboptimal adherence 0.5 • Incomplete or inaccurate data for clinicians A1C %
Slide 17: Dexcom Smart Basal: Simple. Fast. Effective.
Dexcom Smart Basal: Simple. Fast. Effective. Smart Basal can reduce the time it takes to achieve an optimal basal dose from ~12 weeks to fewer than 30 days Faster Better HCP Personalized dosing solution workflow recommendations 17
Slide 18: Opportunity to capture share through digital therapeutics
We see additional opportunity to capture share through digital therapeutics Insulin Delivery Method ~30-40% of people on insulin Global people with intensively managed diabetes1 experience diabetes distress, a rate significantly higher than those not on insulin2 People on mealtime insulin make dozen
Slide 19: Dexcom Smart Bolus: More control. Less math.
Dexcom Smart Bolus: More control. Less math. CGM trend- Reduced Supports Less missed based bolus chance of safety1 doses (Avoids insulin stacking calculations hypoglycemia and hypoglycemia risk) 1. Based on internal data. These features are under review and are not currently available. 19
Slide 20: Meeting the needs of the clinician
Meeting the needs of the clinician Clinical workflow challenges today Clinicians unable to view CGM data in EHR alongside lab results and other digital data Existing integrations are cumbersome or require 3rd party solutions 20
Slide 21: Dexcom EHR Integration advances the provider experience
Dexcom EHR Integration advances the provider experience with simple workflows Dexcom Direct EHR Integration Quick and easy connection Ability to scale across US to customer CGM data and international markets Keeps clinicians in their workflows 320+ health systems now live or onboarding Works across
Slide 22: Enhancing the product experience
Enhancing the product experience: • Updated algorithm with enhanced accuracy • Fewer sensor changes, fewer interruptions, reduced monthly waste I made the update to the 15 day sensor and they’ve been great. Loved my G7 Dexie, and the 15 day is even better. 22
Slide 23: Enhancing the product experience: 2026 expectations
Enhancing the product experience: 2026 Expectations On track for US base conversion of nearly 50% by year-end Now available with all US pump partners International launch to begin in 2H26 A 15 day wear-time is now the baseline for our product portfolio moving forward 23
Slide 24: Dexcom's history of step-changes for the CGM industry
Dexcom’s history of step-changes Alerts & Alarms for the CGM industry Follow Phone Connectivity Single-Digit MARD Non-Adjunctive Treatment Zero Fingersticks iCGM Standards Established 24
Slide 25: Listen: Customer Advisory Council
The next step-change: D EXC O M C O R E VAL U E What do customers want? Customer Advisory Council listen WHO Group of current Dexcom customers, KOL’s, and community leaders from the US and International markets Understanding the needs of everyone we serve WHAT Structured workshops providing actionab
Slide 26: Glucose reliability is a foundational expectation
Glucose reliability is a foundational expectation and remains the area of greatest customer feedback Core expectations among CGM customers1 Product reliability 98% The top two reasons for patient churn in the CGM category remain focused on reliability of Product accuracy 97% glucose readings. Ease o
Slide 27: Two primary sources of variability in glucose sensing
Glucose sensing optimization requires control of two primary sources of variability IN THE FACTORY IN THE FIELD Current CGM Systems optimize sensors There is currently little ability to adapt during through factory calibration and sensor use, though Dexcom sensors robust process controls can be manu
Slide 28: Introducing
INTRODUCING Step change improvement in glucose performance 50% smaller form factor than Dexcom G7 Advanced sensing capabilities 28
Slide 29: The step-change: A sensor that adapts during use
The step-change: A sensor that adapts during use Clinical testing has 1 demonstrated: Clinical testing has demonstrated: Reduction in MARD Significant accuracy enhancements Greater consistency and less outlier readings Reduction in outliers G8 introduces Dexcom technology in development for nearly t
Slide 30: Dexcom G8: Factory Calibration and Self-Adapting
Dexcom G8: Factory Calibration and Self-Adapting Precision that adapts with you Reliability day after day Expected to launch in late 2027 / early 2028 Expected to launch in late 2027 / early 2028 30
Slide 31: The premier glucose sensing solution for all people with diabetes
The premier glucose sensing solution… …for ALL people with diabetes 31
Slide 32: Clinical momentum is building for broad CGM use
Clinical momentum is building for broad CGM use Dexcom Type 2 NIT Registry1: Updated Standards of Care in (12-month real-world data) Diabetes - 2026 Significant improvement in A1C, weight, and BMI Improvement sustained over 12-month period Greater control regardless of age or medication regimen Broa
Slide 33: CONNECT
C NNECT Type 2 Non-Insulin RCT 283 study participants across 21 primary care practices Baseline A1C of 8.8% Primary outcome: reduction in A1C Broad representation of type 2 medication therapies Full CONNECT readout: Metformin only (17%) Incretin1 only (22%) SGLT2 only (19%) Incretin1 + SGLT2 (18%) S
Slide 34: Expecting Medicare type 2 NIT coverage by mid 2027
Expecting Medicare type 2 NIT coverage by mid 2027 Expected CMS Expected CMS proposal coverage December Summer Mid Year End Mid 2024 2025 2026 2026 2027 Updated ADA 3 largest PBMs 4th largest PBM Expecting CMS Standards of Care covering all people covering all people coverage for all with diabetes w
Slide 35: Our mission is personal
Our MISSION is PERSONAL 35
Slide 36: Jon Coleman
Jon Coleman EVP, Chief Commercial Officer 36
Slide 37: Commercial Summary: Ready to capitalize
Commercial Summary: Ready to capitalize 1 2 We have the right product and commercial We have a focused international strategy footprint to extend US leadership and win with significant access expansion throughout diabetes opportunities in the near-term 37
Slide 38: We have a long runway in our core US market
We have a long Current ~% of US Market1 US Market Size runway in our Penetration2 Lives Covered core US market Type 1 ~2.1 million ~60-65% Type 2 IIT ~2.5 million ~55-60% Type 2 Basal ~4 million ~20-25% Type 2 >25 million ~5% Non-Insulin There are over 9 million people in the US who have reimburseme
Slide 39: Impact of CMS T2 NIT coverage decision
We have a long Impact of CMS T2 NIT Coverage Decision runway in our Dexcom covered lives in the United States1 core US market 2x increase in covered lives ~30m by 2027 ~15m in 2026 The magnitude of CMS coverage expansion is expected to significantly lengthen Dexcom’s durable growth runway 1. Dexcom
Slide 40: We are personalizing the experience to match customer needs
We are personalizing the experience to match customer needs Type 1 Type 2 IIT Type 2 Basal Type 2 NIT • Insulin dosing • Insulin dosing • Avoid mealtime insulin • Understand how diet Primary Concerns • Protection from • Protection from hyper- • Avoid or reduce and lifestyle impact hypoglycemia and h
Slide 41: Type 2 non-insulin customers seek knowledge and accountability
Type 2 non-insulin customers seek knowledge and accountability Challenges to Successful Diabetes Management Resisting food cravings 53% Staying consistent with an exercise or workout routine 47% Having the energy or motivation to exercise 46% Sticking to a healthy diet 39% Finding the time to exerci
Slide 42: Stelo is enhancing our understanding of the type 2 non-insulin customer
Stelo is enhancing our understanding of the type 2 non- insulin customer… T2 NIT learnings: Visualizing glycemic response is essential to inform lasting behavior change Insights should be personalized and informative Accuracy and reliability remains critical 42
Slide 43: Providing insights for our software roadmap across all products
…and providing insights for our software roadmap across all products Stelo is shaping where G-Series will go next Greater personalization Engaging features Informative insights Pattern recognition Adapting the sensing experience for all 43
Slide 44: Personalization to extend Dexcom's retention advantage
We expect our focus on personalization to extend Dexcom’s retention advantage Dexcom retention rate is 16% higher after 12 months in comparable Libre patient populations1 1 Month 12 1. Dexcom data on file. Reflects average 12-month retention for monthly customer cohorts for all US pharmacy patients
Slide 45: Our focus on the customer enhances lifetime value
Our focus on the customer enhances lifetime value… Set the standard Build on our Improve our for customer leading customer customer experience retention lifetime value 45
Slide 46: Driving better clinical outcomes
…while driving better clinical outcomes… Type 2: A1C reduction by CGM wear pattern 12-month real world data1 9.5 9.0 8.5 ~80% greater improvement in A1C % ≤ 90 days A1C for type 2 customers that 8.0 wear CGM 270+ days of the 7.5 > 270 days year vs. intermittent wear 7.0 Baseline 3 months 6 months 9
Slide 47: Across all leading type 2 medication plans
…across all leading type 2 medication plans Type 2: High CGM utilization amplifies A1C reductions 12-month real world data1 GLP-1RA SGLT-2i 1.0 1.0 Consistent CGM usage drives: 0.5 0.5 0.0 0.0 A1C % A1C % (0.5) (0.5) (1.0) (1.0) (1.5) (1.5) (2.0) (2.0) Significant improvement in Baseline ~3 months ~
Slide 48: Meeting the customer where they are
Meeting the customer where they are Primary Doctor by Customer:1 Primary Care / Customer Endocrinologist Non-Endo Type 1 60%+ <40% Type 2 IIT ~35% ~65% Type 2 Basal ~20% ~80% Type 2 <10% 90%+ Non-Insulin 1. Dexcom data on file. 48
Slide 49: Understanding the customer: Clinician needs
Understanding the customer: Clinician needs ENDOCRINOLOGIST PRIMARY CARE / NON-ENDO Brand Knowledge High confidence in interpreting data and prescribing Confident in type 2 care, less confident in nuances of technology Primary Value Lens “Which option is clinically best?” “Which option is easiest to
Slide 50: We invested in our US sales force as type 2 coverage grows
We invested in our US sales force as type 2 coverage grows… Greater than 40% increase in US sales force personnel in 1H24 2024 Strategic positioning of sales force to meet the needs of Sales Force different prescribing clinicians Investment Significantly expanded presence within primary care Our 202
Slide 51: Share gains within primary care and type 2 basal
…and we are now seeing share gains within primary care and type 2 basal Primary Care/Non-Endo Share1 Type 2 Basal Share1 50% 50% 45% 45% 40% 40% Share of New Starts Share of New Starts 35% 35% 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% 2021 2023 2025 2021 2023 2025 IIT Coverage Basal CMS Fu
Slide 52: Resulting in a durable growth runway in the US
Resulting in a durable growth runway in the US Our addressable market is underpenetrated and is set to double We have the commercial We understand the needs We continue to personalize team to meet the of the customer the product customers where they are We are ready to win across ALL diabetes 52
Slide 53: Our international business has shown tremendous growth (2015)
Our international business has shown tremendous growth Dexcom International Countries >$5M Revenue: 2015 2015 International ~$50M Revenue Active ~30K Customers Countries 3 >$5M rev Direct Sales1 0% (% of rev) 1. Defined as revenue generated in countries where Dexcom has its own sales force. Note tha
Slide 54: Our international business has shown tremendous growth (2025)
Our international business has shown tremendous growth Dexcom International Countries >$5M Revenue: 2025 2015 2025 International ~$50M ~$1.3B Revenue Active ~30K ~1.1M Customers Countries 3 ~30 >$5M rev Direct Sales1 0% ~70% (% of rev) 1. Defined as revenue generated in countries where Dexcom has it
Slide 55: Accessing pools of growth with our product portfolio
We are accessing these pools of growth with our product portfolio… BROAD LIMITED TIERED REIMBURSEMENT MARKETS REIMBURSEMENT REIMBURSEMENT G-Series G-Series Dexcom ONE+ Dexcom ONE+ Dexcom ONE+ has grown to ~30% of our active base in EMEA at YE 2025 55
Slide 56: Introducing Dexcom Flex
Introducing Dexcom Flex Newest addition to international CGM portfolio Designed for people with type 2 diabetes (basal & NIT) Launching soon in Germany 56
Slide 57: Stelo International Expansion
Stelo International Expansion Dexcom’s first international over-the-counter sensor Designed for health and wellness population Planned launches late 2026 / early 2027 in the following countries: Supporting earlier South Korea Australia stage metabolic health New Zealand United Kingdom 57
Slide 58: Our international growth strategy is focused in two areas
Our international growth strategy is focused in two areas 01 02 Market access Geographic expansion in expansion core geographies 58
Slide 59: Market Coverage and TAM
Market Coverage1,2 TAM3 Type 1 penetration is at or slightly above US Type 1 ~ 2.4 million penetration Type 2 IIT ~ 3.4 million Type 2 penetration is lower than US penetration and remains a significant Type 2 Basal ~ 5.1 million opportunity to drive future growth Type 2 ~ 38 million Non-Insulin 1. C
Slide 60: We have a focused market access strategy
We have a focused market access strategy We are building localized clinical evidence to support broader type 2 access globally (IIT, basal, NIT) 60
Slide 61: Broader global CGM access in the coming years
This will help drive broader global CGM access in the coming years Expected reimbursement opportunities T2 IIT T2 Basal T2 NIT NEAR-TERM (1-2 years) MEDIUM-TERM (2-3 years) LONG-TERM (4+ years) 61
Slide 62: Additional opportunities for direct transitions
We see additional opportunities for direct transitions Distributor Acquisitions: Transition to Direct: Transition to Direct: HISTORICAL EXAMPLES: Germany Japan IMPACT: ~4x revenue two years following ~3x revenue two years following go-direct date go-direct date OTHER PAST Australia / Netherlands Bel
Slide 63: Now is the time to accelerate geographic expansion
Now is the time to accelerate geographic expansion 1 Growing scale 2 15 Day flexibility 3 Compelling product portfolio 63
Slide 64: Enhancing the durable international growth runway
Enhancing the durable international growth runway INDIA BRAZIL MEXICO Diagnosed Diabetes: ~38M Diagnosed Diabetes: ~15M Diagnosed Diabetes: ~12M Total IIT: ~9M Total IIT: ~4M Total IIT: ~2.3M We plan to expand to three of the largest international opportunities within the next 2 years Dexcom data on
Slide 65: We are ready to execute on the commercial opportunity
We are ready to execute on the commercial opportunity 1 We have the right product and commercial footprint to extend US leadership and win throughout diabetes 2 We have a focused international strategy with significant access expansion opportunities in the near-term 65
Slide 66: Jereme Sylvain
Jereme Sylvain EVP, Chief Financial Officer 66
Slide 67: Dexcom's compelling investment case
Dexcom’s compelling investment case 1 2 3 A durable double-digit A leading cash flow Significant value growth runway generation profile creation opportunity ENABLED BY Massive TAM and access COGS, OPEX, and earnings A disciplined capital opportunity, innovative product leverage initiatives allocatio
Slide 68: Primed for sustained double-digit revenue growth
Dexcom is primed for sustained double-digit revenue growth Growth Catalysts Organic Revenue Growth Flex G8 G8 Stelo G8 Key G7 15 Day D1+ 15 Stelo G8 D1+ G8 product Day launches Stelo LRP through 2030 Medicare T2 NIT 10%+ Coverage T2 IIT every year expansion expected Basal T2 NIT Multiple years of si
Slide 69: The access expansion roadmap provides a durable growth tailwind
The access expansion roadmap provides a durable growth tailwind US + Top 10 YE 2026 YE 2027 YE 2028 YE 2029 YE 2030 International Markets CORE MARKETS Estimated Total (REIMBURSED) Covered Lives1 >23M ~38M ~42M ~49M ~52M % Covered Lives on CGM1 ~40% ~29% ~30% ~29% ~31% People with Coverage Not on CGM
Slide 70: Multiple catalysts within the 10%+ base case
Summarizing the multiple catalysts within the 10%+ base case LRP assumes measured contribution from key levers; upside potential from faster access, adoption, share gains, or retention International Direct + New CMS / T2 NIT Stelo Expansion Retention Access geographies • Broader coverage • Priority
Slide 71: Gross margin expected to be a steady margin tailwind
Gross margin expected to be a steady margin tailwind 2030E GM Expectation1: 67-69% 100% 15 Day conversion2 + 15 Day launches across portfolio D1+ + Steady conversion of active base G8 Customer base on 15 Day platform Stelo through 2030 G7 15D G8 % Active Base + Stelo + Design to value initiatives br
Slide 72: Execution will fuel growth and a top-tier margin profile
Execution will fuel growth and a top-tier margin profile… ~600 – 800 bps ~100 – 200 bps GM expansion Opex2 leverage Non-GAAP Operating Margin1 29 – 30% Targeted growth Price, Opex investments channel, efficiencies ~21% 2025 + product 2030E COGS mix actual efficiencies ~21% 29–30% >800 bps operating
Slide 73: Additional levers for opex as we invest in growth
…with additional levers for opex as we invest in growth… Operating Expenses as a % of Revenue1 2025 2030E actual ~83% Total ~40% ~38-39% Opex ~50% OPEX COMPONENTS2 R&D ~13% ~12-12.5% ~40% ~38-39% Sales & ~16% ~16% Marketing G&A ~11.5% ~10-10.5% 2015 2020 2025 2030E We continue to invest thoughtfully
Slide 74: One of the best cash flow models in medtech
…leading to one of the best cash flow models in medtech Adj. EBITDA Margin1 Free Cash Flow Conversion1,2 2025 130% Annual through 2025 actual 2030E 2030E 2024 96% ~29% 36–37% 80–100% 2023 83% Current G7 manufacturing lines will also have the ability to support the next-gen G8 platform, reducing capi
Slide 75: Cost to Execute remains the heart of Dexcom's strategy
Cost to Execute remains the heart of Dexcom’s strategy for scalable growth… Our leaders work together to ensure that all functions support scalable efforts aligned to our long-term strategic ambitions COST TO Manufacture Develop Acquire Serve Support Total cost to Total R&D and UX Costs associated C
Slide 76: Leveraging our global infrastructure
…leveraging our global infrastructure… Manufacturing R&D Centers Support Global Scale of Excellence Model Services >35% of non-manufacturing HC in Global Business Service locations ✓ US ✓ San Diego ✓ My Dexcom ✓ Manila Innovation Center Account ✓ Malaysia ✓ Cebu ✓ Ireland ✓ India ✓ Lithuania 76
Slide 77: AI providing an efficiency springboard across the enterprise
…with AI providing an efficiency springboard across the enterprise Estimated 750K hours saved in 2025 through AI-augmented automation across functions EXAMPLE USE CASES AND/OR OUTCOMES: • AI-enhanced salesforce targeting capabilities • Automated design verification testing • >700 personal AI-agents
Slide 78: Our disciplined approach to capital allocation
Our disciplined approach to capital allocation 1 2 3 Retain balance sheet Fund organic growth Return value to strength and flexibility and tuck-in M&A shareholders through share repurchases 78
Slide 79: We see an opportunity to return value today
We see an opportunity to return value today Today we are announcing a new $1 billion repurchase authorization to be executed in 2026 We expect to apply at least 50% of our annual free cash flow to repurchases over the course of our LRP 79
Slide 80: Summarizing our unique value creation opportunity
Summarizing our unique value creation opportunity 1 Long-term double-digit growth Top-tier operating margin and 2 cash flow generation Committed to returning value 3 to shareholders 80
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Slide 82: Jake Leach
Jake Leach President & Chief Executive Officer 82
Slide 83: Summary: A focused growth strategy driving long-term targets
Summary: A focused growth strategy driving compelling and achievable long-term targets 1 2 3 Be the premier glucose Set the standard for Expand international sensor for all customer experience market share Financial outcomes Durable double- Steady margin Disciplined digit growth expansion capital al
Slide 84: What's next?
As we execute the strategy, we are building the foundation for future waves of growth What’s next? 84
Slide 85: Dexcom's role in diabetes management and prevention
We believe that Dexcom will play a key role in diabetes management… Prediabetes CDC Estimates Adults (aged 18+) with prediabetes in US1 2010 2023 ~79m ~115m ~33% of adults 40%+ of adults …and in diabetes prevention 1. Estimates sourced from CDC. 85
Slide 86: Building blocks of CGM for disease prevention and screening
The building blocks of CGM for disease prevention and screening 1 2 3 Real-world evidence Focused clinical work to Building clinical interest in generation support a new indication preventative care (Stelo + new programs) 86
Slide 87: We will launch a hospital product by the end of 2027
T H E D E X C O M H O S P I TA L CGM SYSTEM Inpatient Market Opportunity ~14M annual Potential for >50 Dexcom dysglycemic improved quality CGM peer reviewed events1 of inpatient care publications We will launch a hospital product by the end of 2027 1. Dexcom market research. 87
Slide 88: Broadening our impact in chronic care adjacencies
We see an opportunity to broaden our impact in chronic care adjacencies People impacted ~130M in the US1 30M+ ~40M Type 2 Diabetes Chronic Kidney Disease Cardiovascular Disease (CKD) (CVD) % of people with type 2 with this ~33% ~33% comorbidity 1. Estimates sourced from CDC. 88
Slide 89: CGPM
CGPM We believe a continuous glucose + potassium sensor addresses the most significant clinical unmet need 89
Slide 90: Continuing innovation with multi-analyte sensing
Continuing innovation with multi-analyte sensing CGPM Glucose + Potassium Across CKD and CVD, hyperkalemia is What problems will we solve? associated with higher rates of: ICU admission1, length of hospitalization2, and mortality risk3 CKD CVD Glycemic control shows potential to support Dyskalemia D
Slide 91: more
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Slide 92: Appendix
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Slide 93: GAAP to non-GAAP operating income and free cash flow reconciliation
Twelve Months Ended December 31, Twelve Months Ended December 31, (In millions) 2025 2024 (In millions) 2025 2024 2023 GAAP operating income $ 911.8 $ 600.0 Net cash provided by operating activities $ 1,440.7 $ 989.5 $ 748.5 Amortization of intangible assets (1) 31.7 35.1 Less: Cash used for capital
Slide 94: Amortization of intangible assets
Amortization of intangible assets – We are required under GAAP to record the fair values of the intangible assets of the entity on our balance sheet and amortize them over their useful lives. We exclude these non-cash amortization charges related to acquired intangible assets from our non-GAAP finan