Slide 1: Dexcom earnings Q4 2025
bpexcom Dexcom earnings Q4 2025
Slide 2: Safe harbor statement
Safe harbor statement This presentation contains “forward - looking statements” that are based on our management’s beliefs and assumptions and on inform ation available to management as of February 12, 2026. We intend for such forward - looking statements to be covered by the safe harbor provisions
Slide 3: Fourth quarter 2025
Fourth quarter 2025 Key Financial Strategic $1.260 billion in revenue Highlights Highlights 12% organic revenue 1 growth over Q4’24 ~750 bps of operating margin Launched Dexcom G7 15 Day CGM in (11% US; 15% INT’L2) expansion year over year the United States Received FDA clearance for Dexcom Smart Ba
Slide 4: Fourth quarter performance
Fourth quarter performance Total Revenue & Organic Growth Rate* 1 Non - GAAP Gross Profit and Margin* ($MM) ($MM) $1,500 $1,260 $900 $741 $800 $1,114 $1,157 $1,209 $661 $696 $1,200 $1,036 $750 $596 $900 $600 $450 $600 $300 $300 +8% +14% +15% +20% +12% $150 59.4% 57.5% 60.1% 61.3% 63.5% $0 $0 Q4'24 Q
Slide 5: 2026 Guidance as of February 12, 2026
2026 Guidance as of February 12, 2026 2026 Annual Revenue and Profitability Guidance Non - GAAP Non - GAAP Adjusted Revenue Gross Profit Margin* Operating Margin* EBITDA Margin * 1 Objectives & considerations • Gross margin expansion: USD – Improved freight and manufacturing 5.16 – 5.25 efficiencies
Slide 6: Appendix
Appendix Revenue Data and GAAP Reconciliations
Slide 7: Itemized Reconciliation between GAAP and Financial Measures
DexCom, Inc. Itemized Reconciliation between GAAP and Non - GAAP Financial Measures Three Months Ended December 31, Three Months Ended December 31, (In millions) 2025 2024 (In millions, except per share data) 2025 2024 GAAP gross profit $ 792.7 $ 655.8 GAAP net income $ 267.3 $ 151.7 Amortization of
Slide 8: Trended Quarterly and Annual Revenue Metrics by Geography
DexCom , Inc. Trended Unaudited Quarterly and Annual Revenue Related Metrics by Geography Total Company 2023 – 2025 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 FY'23 FY'24 FY'25 Revenue Metrics By Geography US Revenue (millions) $ 526.0 $ 616.6 $ 713.6 $ 769.1 $ 653.2 $ 7
Slide 9: Trended Quarterly and Annual Organic Revenue Metrics
DexCom , Inc. Trended Unaudited Quarterly and Annual Organic Revenue Metrics Total Company 2023 – 2025 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 FY'23 FY'24 FY'25 Organic Revenue (1) INT'L Revenue - Reported $ 215.5 $ 254.7 $ 261.4 $ 265.4 $ 267.8 $ 272.4 $ 292.3 $ 310.
Slide 10: Definitions related to Financial Measures
DexCom, Inc. Definitions related to Non - GAAP Financial Measures 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 c