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DexCom, Inc.’s (NASDAQ:DXCM) third-quarter 2025 revenue reached $1.209 billion, beating the analyst consensus estimate of $1.179 billion.
Revenue grew 22% year-over-year on a reported basis and 20% year-over-year on an organic basis.
U.S. revenue grew 21% and international revenue grew 22% on a reported basis and 18% on an organic basis, all on a year-over-year basis.
GAAP operating income was $242.5 million or 20.1% of revenue, an increase of 480 basis points compared to the third quarter of 2024.
Adjusted operating income reached $272.9 million or 22.6% of reported revenue, an increase of 130 basis points from a year ago.
DexCom reported adjusted earnings of 61 cents, beating the consensus of 57 cents.
Also Read: DexCom Faces New Reports Of Deaths Linked To G7 Glucose Monitor
Outlook: On Thursday, DexCom raised fiscal 2025 sales guidance from $4.60 billion-$4.63 billion to $4.63 billion-$4.65 billion, above the consensus of $4.626 billion.
The company also revised its profit margins. It expects adjusted gross profit margin of approximately 61%, operating margin of approximately 20-21%, and EBITDA margin of roughly 29-30%, compared to previous guidance of approximately 62%, approximately 62%, and approximately 30%, respectively.
Analyst Take
William Blair, in a Friday investor note, wrote that the lower stock price is due to hopes for U.S. sales growth and 2026 commentary below the Street.
DexCom remains near record highs for new patient additions, and with minimal pricing pressure expected next year, sales growth could approach 20%.
William Blair also expects significant margin expansion as DexCom moves beyond scrap and freight cost headwinds and benefits from the upcoming 15-day sensor launch.
“Taken together, we are buyers on the weakness with shares at 24x times 2026 EPS with earnings positioned to grow 20%,” William Blair wrote.
BTIG analyst maintains a Buy rating on DexCom and lowers the price forecast from $109 to $85.
Price Action: DXCM stock is down 11.28% to $60.51 in the premarket at the last check on Friday.
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Posted In: DXCM
