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DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally. The company offers Dexcom G7 and G7 15 Day, an integrated continuous glucose monitoring system; Dexcom G6, a CGM system; Dexcom ONE+ to replace fingerstick blood glucose testing for diabetes treatment decisions; Stelo, a biosensor designed for adults with prediabetes and Type 2 diabetes who do not use insulin; Dexcom Share, a remote monitoring system; and Dexcom Follow application. It markets its products directly to endocrinologists, physicians, and diabetes educators. The company was incorporated in 1999 and is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.7B | $1.4B | $836M | $1.1B | 30.5% | 15.6% | 45.1% |
| 2024 | $4.0B | $946M | $576M | $631M | 27.4% | 11.3% | 6.4% |
| 2023 | $3.6B | $917M | $542M | $512M | 26.2% | 24.5% | 58.7% |
| 2022 | $2.9B | $565M | $341M | $305M | 16.0% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,909.80 | 3,622.30 | 4,033 | 4,662 |
| Cost Of Revenue | - | 1,026.70 | 1,333.40 | 1,594.80 | 1,860.10 |
| Gross Profit | - | 1,883.10 | 2,288.90 | 2,438.20 | 2,801.90 |
| Operating Expense | - | 1,491.90 | 1,691.20 | 1,838.20 | 1,890.10 |
| Operating Income | - | 391.20 | 597.70 | 600 | 911.80 |
| EBITDA | - | 565.30 | 916.70 | 945.70 | 1,358.50 |
| EBIT | - | 409.40 | 730.70 | 728 | 1,106.70 |
| Pretax Income | - | 390.80 | 710.40 | 709 | 1,088.40 |
| Tax Provision | - | 49.60 | 168.90 | 132.80 | 252.10 |
| Net Income | - | 341.20 | 541.50 | 576.20 | 836.30 |
| Net Income Common Stockholders | - | 341.20 | 541.50 | 576.20 | 836.30 |
| Total Expenses | - | 2,518.60 | 3,024.60 | 3,433 | 3,750.20 |
| Interest Expense | - | 18.60 | 20.30 | 19 | 18.30 |
| Interest Income | - | 23.80 | 135 | 134.20 | 112.70 |
| Research And Development | - | 484.20 | 505.80 | 552.40 | 599.10 |
| Selling General And Administration | - | 1,007.70 | 1,185.40 | 1,285.80 | 1,291 |
| Normalized EBITDA | - | 565.30 | 916.70 | 945.70 | 1,358.50 |
| Normalized Income | - | 341.20 | 541.50 | 576.20 | 836.30 |
| Market Cap | 23,758.20 | 23,758.20 | 23,758.20 | 23,758.20 | 23,758.20 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| DexCom, Inc.this co. | DXCM | $24.0B | 28.41↑ premium | 8.65 | 30.5% | 17.84 |
| IQVIA Holdings Inc. | IQV | $27.9B | 20.03 | 4.19 | 20.9% | 11.90 |
| Biogen Inc. | BIIB | $27.0B | 20.93 | 1.48 | 7.1% | 11.76 |
| Mettler-Toledo International Inc. | MTD | $26.4B | 29.88 | -1098.65 | -3677.4% | 22.57 |
| Humana Inc. | HUM | $25.9B | 21.75 |
| - |
| - |
| - |
| - |
| 1.46 |
| 6.7% |
| - |
| West Pharmaceutical Services, Inc. | WST | $22.1B | 43.81 | 6.81 | 15.5% | 27.38 |
| Quest Diagnostics Incorporated | DGX | $21.9B | 21.90 | 3.03 | 13.8% | 12.88 |
| Labcorp Holdings Inc. | LH | $21.9B | 24.80 | 2.52 | 10.2% | 13.78 |
| STERIS plc | STE | $21.8B | 35.42 | 3.30 | 9.3% | 17.52 |
| Peer Median | - | 23.35 | 2.78 | 9.7% | 13.78 | |