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Dexcom's sales surge in Q2 as continuous glucose monitors aim to go mainstream

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Despite competition from larger med-tech firms, San Diego’s Dexcom reported better-than-expected financial results for the second quarter, driven by more people with diabetes opting to use continuous glucose monitors to track their blood sugar.
The company said Thursday that sales surged to $595.1 million, up 32 percent from the same quarter a year ago.
“The $143 million in absolute dollar revenue growth compared to the second quarter in 2020 represents the highest quarterly increase in Dexcom’s history,” said Chief Executive Kevin Sayer in a conference call with analysts.
Net income jumped to $62.9 million, or 63 cents per share, under Generally Accepted Accounting Principles. That’s up from net income of 48 cents per share a year ago. ....

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Dexcom's shares sink despite better-than-expected first quarter financial results

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Sometimes a company reports better-than-expected financial results and its shares still sink, as San Diego’s Dexcom found out this week.
The maker of wearable continuous glucose monitors reported first quarter revenue late Thursday of $505 million, up 25 percent over last year and above the $487 million average prediction of Wall Street analysts.
For earnings, Dexcom posted net income of $40.3 million, or 41 cents a share, under Generally Accepted Accounting Principles ahead of analysts’ GAAP forecast of 29 cents per share.
Yet the company’s stock price dropped 8.4 percent in Friday trading, shedding $35.60 to close at $386.10 on the Nasdaq Exchange.
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Investors appeared spooked by competitive pressures in the continuous glucose monitoring market, and by Dexcom’s high valuation based on a recent surge in its stock price, said Kyle Rose, an analyst with Canaccord Genuity. ....

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