Dexcom income statement
In fiscal 2025, Dexcom reported revenue of $4.66bn, up 15.6% on the year before, operating income of $912m (a 19.6% margin) and net income of $836m, or $2.09 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 30 | 49 | 76 | 100 | 160 | 259 | 402 | 573 | 719 | 1,032 | 1,476 | 1,927 | 2,449 | 2,910 | 3,622 | 4,033 | 4,662 | 5,104 |
| Cost of revenue | 26 | 30 | 40 | 53 | 60 | 83 | 124 | 195 | 226 | 368 | 545 | 647 | 768 | 1,027 | 1,333 | 1,595 | 1,860 | 1,867 |
| Gross profit | 4 | 18 | 36 | 47 | 100 | 176 | 278 | 378 | 492 | 664 | 932 | 1,280 | 1,681 | 1,883 | 2,289 | 2,438 | 2,802 | 3,237 |
| Research and development | 14 | 23 | 30 | 38 | 45 | 69 | 138 | 156 | 185 | 200 | 274 | 360 | 517 | 484 | 506 | 552 | 599 | 608 |
| Selling, general and administrative | 35 | 41 | 51 | 64 | 84 | 128 | 198 | 286 | 349 | 433 | 516 | 618 | 811 | 1,008 | 1,185 | 1,286 | 1,291 | 1,406 |
| Operating income | −46 | −45 | −45 | −56 | −29 | −22 | −57 | −64 | −43 | −186 | 142 | 300 | 266 | 391 | 598 | 600 | 912 | 1,224 |
| Interest expense | 8 | 2 | 0 | 0 | 1 | 1 | 0 | 1 | 13 | 23 | 60 | 18 | 19 | 19 | 20 | 19 | 18 | 13 |
| Income before tax | — | −55 | −45 | −56 | −30 | −22 | −58 | −65 | −49 | −127 | 104 | 298 | 257 | 391 | 710 | 709 | 1,088 | 1,262 |
| Income tax | — | 0 | 0 | −1 | 0 | 0 | 0 | 1 | 2 | 1 | 3 | −252 | 40 | 50 | 169 | 133 | 252 | 271 |
| Net income | −54 | −55 | −45 | −55 | −30 | −22 | −58 | −66 | −50 | −127 | 101 | 550 | 217 | 341 | 542 | 576 | 836 | 991 |
| Diluted EPS | −$1.21 | −$0.24 | −$0.17 | −$0.20 | −$0.10 | −$0.07 | −$0.18 | −$0.20 | −$0.14 | −$0.36 | $0.28 | $1.33 | $0.53 | $0.82 | $1.30 | $1.42 | $2.09 | $2.53 |
| Diluted shares (average) | — | 228m | 262m | 275m | 284m | 301m | 319m | 334m | 345m | 353m | 369m | 420m | 429m | 428m | 426m | 413m | 406m | 392m |
| EBITDA | −43 | −43 | −41 | −49 | −22 | −13 | −46 | −49 | −26 | −157 | 191 | 367 | 368 | 547 | 784 | 818 | 1,164 | 1,499 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,114 | 1,036 | 1,157 | 1,209 | 1,260 | 1,192 | 1,308 | 1,345 |
| Cost of revenue | 458 | 447 | 468 | 478 | 467 | 442 | 478 | 480 |
| Gross profit | 656 | 589 | 689 | 731 | 793 | 750 | 830 | 864 |
| Research and development | 140 | 145 | 148 | 158 | 148 | 145 | 153 | 162 |
| Selling, general and administrative | 327 | 310 | 328 | 331 | 322 | 350 | 359 | 376 |
| Operating income | 189 | 134 | 213 | 243 | 323 | 255 | 318 | 327 |
| Interest expense | 5 | 5 | 5 | 5 | 4 | 3 | 3 | 3 |
| Income before tax | 211 | 154 | 241 | 352 | 341 | 270 | 318 | 335 |
| Income tax | 60 | 49 | 61 | 69 | 73 | 70 | 68 | 60 |
| Net income | 152 | 105 | 180 | 284 | 267 | 200 | 249 | 275 |
| Diluted EPS | $0.38 | $0.27 | $0.45 | $0.70 | $0.67 | $0.51 | $0.64 | $0.72 |
| EBITDA | 247 | 194 | 276 | 306 | 388 | 322 | 387 | 402 |
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