Thu, Jul 25, 9:20 PM (44 days ago)
Dexcom, Inc. reported strong financial performance for the quarter ended June 30, 2024. The company achieved revenue of $1.00 billion, up 15% from the same period in 2023, driven by increased sales volume of disposable sensors. Gross profit rose to $626.7 million, maintaining a solid margin despite a slight decrease in percentage terms due to product and channel mix changes. Operating income increased by 23% to $158.0 million, reflecting effective cost management and higher sales. Net income grew by 24% to $143.5 million, translating to diluted earnings per share of $0.35. Cash flow from operations was robust at $279.4 million, a 47% increase from the prior year, contributing to a strong liquidity position with $3.12 billion in cash, cash equivalents, and short-term marketable securities. Dexcom also announced a $750 million share repurchase program, underscoring confidence in future performance. Key risks include ongoing patent litigation with Abbott, which could impact financial results.