Dexcom Q1 revenue beats on international growth

Overview

• U.S. glucose monitoring device maker's Q1 revenue rose 15%, beating analyst expectations

• Adjusted EPS for Q1 beat analyst expectations

• Growth driven by demand for Dexcom CGM and expanded G7 15 Day launch in U.S.

Outlook

• Dexcom sees 2026 revenue of $5.16-$5.25 bln, about 11-13% growth

• Company expects 2026 non-GAAP gross profit margin of about 63-64%

• Dexcom raises 2026 non-GAAP operating margin outlook to about 23-23.5%

Result Drivers

• INTERNATIONAL GROWTH - Co said international revenue grew 26% year-over-year on a reported basis, outpacing U.S. growth

• PRODUCT LAUNCH - Expanded launch of Dexcom G7 15 Day CGM across all channels in the United States supported revenue growth

• OPERATIONAL IMPROVEMENT - Co cited continued operational improvement as contributing to margin expansion

Company press release: ID:nBwbrCc9na

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 27 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Dexcom Inc is $85.00, about 47.7% above its April 29 closing price of $57.56

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 27 three months ago

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