10-K · February 12, 2026
DexCom’s 10-K emphasizes a product-led strategy: roll out the G7 family (including the April 2025 FDA-cleared G7 15 Day) and expand access via Stelo (OTC, launched August 2024) while leveraging integrations with insulin…
Earnings analysis · 10-Q
DXCM earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
DexCom, Inc. (DXCM) posted strong Q1 2026 results, with revenue reaching $1.192 billion, up 15% year-over-year, exceeding estimates of $1.176 billion. EPS improved significantly to $0.51 from $0.27 in the prior year.…
Read full summary
DexCom, Inc. (DXCM) posted strong Q1 2026 results, with revenue reaching $1.192 billion, up 15% year-over-year, exceeding estimates of $1.176 billion. EPS improved significantly to $0.51 from $0.27 in the prior year. Operating cash flows were robust at $525.6 million, reflecting increased customer adoption and operational efficiencies, despite ongoing challenges such as pricing headwinds and competition.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.51
What stood out
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Strong Revenue Growth
Q1 2026 revenue was $1.192 billion, a 15% increase from $1.036 billion in Q1 2025.
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Improved EPS Performance
Diluted EPS rose to $0.51 from $0.27 in Q1 2025, marking a 89% increase.
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Record Operating Income
Operating income surged to $255.3 million from $133.7 million, a 91% year-over-year increase.
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Cash Flow Growth
Operating cash flow was $525.6 million, up 186% compared to $183.8 million in Q1 2025.
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Increased Gross Margin
Gross profit margin improved to 62.9%, up from 56.9% in Q1 2025.
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Solid Cash Reserves
Cash and equivalents plus short-term investments totaled $2.42 billion at March 31, 2026.
What to watch
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Litigation Risks
Ongoing securities class actions and derivative lawsuits could impose significant costs and damages.
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Foreign Exchange Exposure
Expansion into international markets exposes DXCM to currency fluctuations affecting financial results.
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Market Competition
Increased competition in the diabetes management industry may impact market share and pricing.
Management's outlook
Revenue guidance maintained at $5.16 to $5.25 billion for FY 2026, with anticipated improved margins.
Earlier filings 4
10-Q · October 30, 2025
DexCom reported strong Q3 results with revenue of $1,209.3 million, up $215.1 million (21.6%) versus Q3 2024, and net income of $283.8 million driving diluted EPS to $0.70 from $0.34 a year ago. Gross profit expanded to…
10-Q · May 1, 2025
DexCom reported revenue of $1,036.0 million for the quarter ended March 31, 2025, up $115.0 million (12.5%) versus the three months ended March 31, 2024. Gross margin compressed to 56.9% while operating income improved…
10-K · February 18, 2025
DexCom’s 10-K emphasizes product-led growth (G7 and the August 2024 OTC Stelo launch), ecosystem partnerships (insulin delivery integrations and a Verily collaboration), and a recurring-sensor revenue model. The filing…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.