Dexcom, Inc. · NASDAQ:DXCM
Dexcom — Raymond James Institutional Investors Conference 2024
26 slides from Dexcom's conference presentation, March 2024
Slide 1: Raymond James Institutional Investors Conference
Raymond James Institutional Investors Conference March 2024 CONFIDENTIAL – DO NOT DISTRIBUTE
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 information currently available to management. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking s
Slide 3: A global crisis that remains uncontrolled
A global crisis that remains uncontrolled Diabetes diagnosis and cost Adults (aged 20-79) with diabetes globally1 People diagnosed with diabetes 783m have ~2.6x higher expenses in 2045E than those without2 537m in 2021 463m in 2019 151m in 2000 More than 1 in 4 US health care dollars are spent on pe
Slide 4: Intermittent glucose monitoring is not enough for diabetes management
Glucose (mg/dl) 340 SMBG* 320 300 280 260 Intermittent 240 220 glucose monitoring 200 180 is not enough for 160 140 diabetes 120 Target Glucose Range management… 100 80 60 40 20 0 0 2 4 6 8 10 12 14 16 18 20 22 24 Time (hours) *As compared to Self Monitoring of Blood Glucose (SMBG) 4
Slide 5: CGM has become standard of care for all stages of insulin-use
Glucose (mg/dl) 340 320 300 280 260 …and CGM has APPROXIMATELY 17 HOURS ABOVE TARGET RANGE, INCLUDING 240 ~6 HOURS IN SEVERE HYPERGLYCEMIA (>250 mg/dl) 220 become standard 200 180 AVG GLUCOSE: 185 mg/dl of care1 for all 160 140 stages of insulin-use 120 Target 100 Glucose Range 80 60 40 20 0 0 2 4 6
Slide 6: We can do more
We can do more pexcom 6
Slide 7: Pioneering the CGM industry
Pioneering the CGM industry First hypo alert setting to increase user safety First approval of dedicated app to share glucose data with a caregiver First to deliver single-digit MARD accuracy levels First approval to send glucose data directly to smartphone First to enable users to monitor glucose l
Slide 8: Empowering people to take control of health
OUR MISSION Empowering people to take control of health CONFIDENTIAL – DO NOT DISTRIBUTE *Image shown does not include required overpatch. Please be sure to follow instructions for using the overpatch.
Slide 9: 2023 performance
2023 performance Strong revenue growth Margin expansion 2023 revenue of $3.62 billion, representing growth of greater Approximately 400 basis points of operating expense leverage than 24% Grew the active Dexcom base by ~35% during 2023. Now serving approximately 2.3 million customers globally Expand
Slide 10: 2024 outlook
2024 outlook FY24 guidance Objectives & considerations Revenue of • Ongoing conversion of G6 to G7 within customer base $4.15 − 4.35 billion • Extending momentum of 2023 launch in type 2 basal and non-insulin hypo populations ~16 – 21% Organic Growth1 • Expansion of Dexcom ONE into new geographies •
Slide 11: G7 is the new standard in CGM technology
is the new standard in CGM technology Most accurate1 Incredibly simple Most covered2 1) Dexcom, data on file, 2023. 2) Managed Markets Insights & Technology, LLC. MMIT Analytics, October 2023. 11 **Image shown does not include required overpatch. Please be sure to follow instructions for using the o
Slide 12: Building on the G7 standard
Building on the G7 standard Innovating product design Maximizing volume efficiencies Advancing 15-day Investing in future Extending G7 pump and Dexcom ONE to G7 efforts for G-Series device enhancements connected pen availability form factor 12
Slide 13: Simplified software infrastructure
S I M P L I F I E D S O F T WAR E INFRASTRUCTURE Single app platform Dexcom ONE on same software infrastructure Global app infrastructure across languages Easy to iterate We have completed 13 software updates since launch of G7 13
Slide 14: Iterating software to provide a broader picture of health
Iterating software to provide a broader picture of health Integrating insulin data through Ingesting activity data to insulin delivery partnerships highlight lifestyle management 14 **Image shown does not include required overpatch. Please be sure to follow instructions for using the overpatch.
Slide 15: 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 15
Slide 16: Core US market
Insulin & non-insulin hypoglycemia population Estimated US Insulin CGM Users – All companies* Estimated Reimbursed Population* All Insulin ~7m Core US market Momentum and opportunity IIT remain significant ~4m With coverage for basal insulin users and problematic hypoglycemia there are more people w
Slide 17: Gaining momentum across all segments and channels in US
Gaining momentum across all segments and channels in US Increased prescriber base by ~40% in 2023 >70% of new scripts written by primary care physicians 17
Slide 18: Continuing strong international growth
Continuing strong international growth Entering new geographies Reducing administrative barriers Expanding reimbursement Well-positioned to extend Going direct in strategic markets international growth momentum Dexcom ONE to G7 form factor underway 18
Slide 19: The right portfolio approach to unlock new geographies & expand share
The right portfolio approach to unlock new geographies & expand share Broad Limited Tiered Reimbursement Markets Reimbursement Reimbursement G-Series G-Series Dexcom ONE Dexcom ONE EXAMPLES: EXAMPLES: EXAMPLES: Germany United Kingdom Italy Bulgaria Japan Spain France Romania Canada Lithuania 19
Slide 20: Transitioning Japan to direct sales model in 2024
Transitioning Japan to Access for over 4 million additional people with diabetes over the past 2+ years direct sales model in 2024 Japan market opportunity Reimbursement established for all insulin-use Market penetration in early stages Leading medical device market UK Spain Germany Canada Australia
Slide 21: What is next? 25+ million people
T O TA L A D D R E S S A B L E M A R K E T There are 25+ million people1 What is next? in the US with type 2 diabetes that have not Extending our growth runway into non-insulin yet progressed to insulin therapy and are not using people with type 2 diabetes at high-risk of hypoglycemia We see an oppo
Slide 22: Reframing what is possible with Dexcom CGM
Reframing what is possible with Dexcom CGM An example of a Dexcom First patient journey1 Visit One One-Year Visit Two-Year Visit Most Recent Visit (~2.5 Years) 100% In Range 16% Very High 90% In Range 88% In Range Continue Dexcom CGM 34% Discontinue GLP-1 High Time In 100% Range2 Continue Dexcom CGM
Slide 23: CGM adds meaningful clinical value beyond GLP-1 therapy
CGM adds meaningful clinical value beyond GLP-1 therapy and clinicians want to prescribe these products together… People with uncontrolled Type 2 diabetes % CGM usage for those initiating GLP-1 on semaglutide or tirzepatide1 therapy in each year2 -1.47 Type 2 – Non-Insulin Therapy -0.99 Average CGM
Slide 24: We can do more
Commercial Wrap We can do more 24
Slide 25: Dexcom's first product targeted for people with diabetes not on insulin
Dexcom’s first product targeted for people with diabetes not on insulin Custom software Cash-pay option 15-day wear period Filed with FDA Q4 2023 Expected to launch summer 2024 *Dexcom, Stelo, and any related logos and design marks are either registered trademarks or trademarks of Dexcom, Inc. in th
Slide 26: Where we are, where we are going
Where we are Where we are going • Type 1 • Type 2 Non-Insulin • Type 2 IIT • Pre-Diabetes • Type 2 Basal-Only • Gestational Diabetes • Type 2 Problematic • Patient Monitoring Hypo (Non-Insulin) • Health & Wellness *Dexcom, Dexcom Clarity, Dexcom Follow, Dexcom One, Dexcom Share, and any related logo
Dexcom — Raymond James Institutional Investors Conference 2024 on 6ix