DexCom Reports First Quarter 2012 Financial Results
5/3/2012 10:39:29 AM
SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (Nasdaq: DXCM) today reported its unaudited financial results as of and for the quarter ended March 31, 2012. Product revenue grew to $18.6 million for the first quarter of 2012, an increase of approximately 42% from the $13.1 million in product revenue reported for the first quarter of 2011. Total first quarter 2012 revenue, which included development grant and other revenue, grew to $20.1 million, an increase of 42% from the same quarter in 2011. Product gross profit totaled $9.0 million for the three months ended March 31, 2012, compared to a product gross profit of $4.8 million for the three months ended March 31, 2011. The Company reported a net loss of $14.1 million, or $0.21 per share for the three months ended March 31, 2012, compared to a net loss of $11.9 million, or $0.19 per share for the three months ended March 31, 2011. The net loss included $5.7 million in non-cash expenses, comprised primarily of share-based compensation, depreciation, and amortization, offset by a one-time non-cash tax benefit of $1.3 million.