Dexcom Stock Earnings Reports

DexCom reported Q1 2026 revenue of $1.19B, up 15% year-over-year (12% organic). U.S. revenue was $832M (+11%); international was $360M (+26%, 17% organic). Key commercial drivers were strong demand for CGM across diabetes segments, expanded coverage and share gains in type 2 non‑insulin patients, and the rollout of G7 15‑day (positive customer feedback, higher accuracy, expected ~50% base conversion by year-end). Product and software initiatives highlighted: G7 15‑day, new adhesive patch tech, a redesigned Stello app (AI-driven insights and nutrition logging) with upcoming international launches, and a Smart Basal pilot for personalized basal dosing. Reimbursement progress: Prime Therapeutics will cover DexCom for all people with diabetes this summer, pushing commercial type 2 non‑insulin covered lives to >7M by year-end; management reiterated belief that CMS coverage for type 2 non‑insulin is “a matter of time.” Financials: gross profit margin 63.5% (up vs prior year), adjusted EBITDA margin 36%, net income $216.3M ($0.56/share). Cash balance ~ $2.4B. Guidance: revenue reaffirmed at $5.16B–$5.20B (11%–13% growth); non‑GAAP gross margin reiterated at 63%–64%; operating margin guidance raised to 23%–23.5% and adjusted EBITDA to 31%–31.5% (management left gross margin guide unchanged to account for a 50–100 bps potential headwind from fuel/resin/geopolitical uncertainty). Management will provide more detail at an upcoming Investor Day and expects continued international tender/coverage progress and further product-driven adoption.