DexCom Reports First Quarter 2017 Financial Results

SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (Nasdaq: DXCM) today reported its unaudited financial results as of and for the quarter ended March 31, 2017.

First Quarter 2017 highlights:

• Revenue grew 22% to $142.3 million
• International revenue increased 37% over the first quarter 2016
• Gross profit of $94.1 million or 66% of revenue
• GAAP net loss of $41.7 million, or $0.49 per share
• DIaMonD study results published in JAMA
• CMS coverage established for “therapeutic CGM”

“DexCom has achieved multiple historic milestones in the past several months, including a non-adjunctive label from the FDA and a CMS Ruling that provides coverage for DexCom G5 Mobile,” said Kevin Sayer, President and CEO, DexCom. “As a result, interest in DexCom CGM remains at all-time highs. We are proud that our G5 Mobile is the first and only CGM system to be classified as ‘therapeutic CGM’ and believe these achievements are a direct result of the strength of our CGM platform.”

First Quarter financial summary:

Revenue grew to $142.3 million for the first quarter of 2017, an increase of 22% from the $116.2 million in revenue for the same quarter in 2016. Gross profit totaled $94.1 million or 66% for the three months ended March 31, 2017 compared to a gross profit of $75.1 million or 65% for the three months ended March 31, 2016.

The GAAP net loss of $41.7 million, or $0.49 per share, for the first quarter of 2017 included $34.7 million in non-cash expenses, compared to the GAAP net loss of $19.2 million, or $0.23 per share, for the comparable period in 2016, which included $28.6 million in non-cash expenses. Non-cash expenses are comprised primarily of share-based compensation, depreciation and amortization.

As of March 31, 2017, DexCom had $181.1 million in cash, cash equivalents and short-term marketable securities.