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Dexcom (DXCM) investor relations material
Dexcom Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $1,344.5M, up 11% YoY on reported and organic bases; U.S. growth was 14% and international growth was 5%.
Gross profit increased 18% and operating income increased 35% on a GAAP basis; GAAP net income declined 3%, while non-GAAP diluted EPS reached a quarterly record $0.73.
Nine-month revenue reached $3,844.8M, up 13% YoY; operating income rose 53% and net income rose 27%.
Growth reflected higher sensor volume and customer expansion, alongside U.S. share gains and near-record global new patient starts.
Financial highlights
Revenue was $1,344.5M vs. $1,209.3M in Q3 2025; U.S. revenue was $969.8M, up 14%, and international revenue was $374.7M, up 5%.
GAAP gross profit was $864.4M vs. $731.4M, with gross margin of 64.3% vs. 60.5%; non-GAAP gross profit was $875.3M and margin was 65.1% vs. 61.3%.
GAAP operating income was $327.2M vs. $242.5M; non-GAAP operating income was $339.5M vs. $272.9M.
GAAP net income was $275.1M vs. $283.8M and diluted EPS was $0.72 vs. $0.70; non-GAAP net income was $275.0M vs. $242.5M and EPS was $0.73 vs. $0.61.
Nine-month gross profit was $2,444.7M, operating income $900.8M, and net income $723.7M; diluted EPS was $1.87 vs. $1.42.
Outlook and guidance
FY2026 revenue guidance increased to $5.20B–$5.25B, representing 12%–13% growth; the midpoint reflects Q3 outperformance partly offset by ~$5M of incremental FX headwinds and implies 10% Q4 growth.
FY2026 non-GAAP gross margin guidance remains ~64%; operating margin guidance increased to ~24% and Adjusted EBITDA margin guidance to ~32%.
Ireland startup costs are expected to weigh on Q4 and early 2027; G7 15 Day adoption, manufacturing efficiencies and the absence of Ireland expansion costs are expected to support later margin progression.
Medicare coverage for type 2 non-insulin users is expected to be decided this year, with coverage currently anticipated to take effect mid-2027; G8 remains targeted for late 2027 or early 2028, subject to regulatory review.
- Q4 revenue grew 26% organically as FDA submissions and G7 integrations advanced.DXCM
Q4 2023 - CONNECT data, expanded coverage, and product innovation set stage for accelerated growth.DXCM
Wells Fargo 21st Annual Healthcare Conference - Q2 2026 revenue rose 13%, net income 39%, margins and guidance up, $600M shares repurchased.DXCM
Q2 2026 - Double-digit growth, new launches, and expanded access drive a strong outlook through 2030.DXCM
Investor Day 2026 - Strong innovation and global expansion drive double-digit growth and market leadership.DXCM
Investor presentation - Q1 2026 delivered 15% revenue growth, margin expansion, record new patient starts, and strong cash flow.DXCM
Q1 2026 - Raised guidance, strong patient growth, and expanding coverage drive positive outlook.DXCM
Baird Global Healthcare Conference 2025 - Q3 2024 saw 2–3% revenue growth, strong international gains, and a $750M share repurchase.DXCM
Q3 2024 - Q1 2025 revenue up 14% organically; $750M buyback, FDA G7 clearance, and PBM expansion highlight results.DXCM
Q1 2025
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