DexCom Wins Big with 3Q19 Earnings

DexCom is continuing its upward trajectory in sales by bringing in solid 3Q19 earnings. The San Diego-based company toppled consensus estimates and updated sales guidance for the year to $1.43 billion to $1.45 billion compared to previous guidance of $1.33 billion to $1.38 billion. As a result of the earnings, the company’s shares increased by 15% after hours on Wednesday. Kevin Sayer, chairman, president, and CEO of DexCom spoke on the significance of the earnings. “The third quarter represents our highest U.S. growth rate since the first quarter of 2016 when the business was much smaller,” Sayer said during the 3Q19 earnings call, according to a transcript from Seeking Alpha. “The third quarter included the highest absolute dollar growth in the history of our company increasing nearly $130 million over the third quarter of 2018. We not only achieved profitability in the third quarter but for the first time ever through nine months we are profitable on both a GAAP and non-GAAP basis.” Sayer noted the reason for the earnings growth could be summed up to the rise in acceptance of continuous glucose monitoring. “More and more people are becoming aware of the value of DexCom's real-time CGM and with G6 we have the right product to meet their needs,” Sayer said according to a transcript of the 3Q19 earnings call from Seeking Alpha. “We of...
Source: MDDI - Category: Medical Devices Authors: Tags: Digital Health Source Type: news