Skip to content
AnalystLens

DEXCOM INCDXCM

Sector
Healthcare
Industry
Surgical & Medical Instruments & Apparatus
Exchange
Nasdaq

Stock Price $DXCM

Latest filings

You are here#37 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K134

DXCM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 134 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’16Jun ’16
  2. Restructuring8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $4.66B
YoY changeLargest recent move+43.6%in FY18Latest +15.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All DXCM Financial Metrics58 metrics

Income Statement16

Balance Sheet24

Cash Flow14

Per Share4

02—Overview

DEXCOM INC Financial Overview 2021–2025

Updated Aug 15, 2026

Dexcom delivered a 45% jump in net income to $836.3 milliona in FY2025, proving it can translate its rapidly expanding diabetic customer base into highly scaled profitability. The company's focus on disposable continuous glucose monitoring (CGM) sensors has cemented its status as a cash-generating engine capable of sustaining consistent top-line growth.

This operational leverage is evident across a multi-year timeline. Dexcom nearly doubled its top line, as revenue grew from $2.45 billion in FY2021 to $4.66 billionb in FY2025. The core driver was global adoption of the G7 system and the new Stelo biosensor, which brought in an estimated 600,000 to 700,000 net new customers during FY2025. As sales volume climbed, operating income surged 52% year-over-year to $911.8 million in FY2025, demonstrating that overhead is being tightly managed even during aggressive product rollouts.

The company ended FY2025 holding a liquidity cushion of $2.00 billionc in cash and marketable securities. At the close of FY2025, the market valued Dexcom at a $25.5 billion market capitalization, with the stock priced at $66.37 and trading at a multiple of 31.8x earnings.

Recent Developments (Q1 and Q2 2026)

Dexcom sustained top-line growth and margin expansion through the first half of 2026. Revenue climbed 13% year-over-year to $1.31 billiond in Q2 2026, building on a 15% increase in Q1 2026. Manufacturing efficiencies pushed gross margins to 63.4% in the second quarter, driving a 50% increase in operating income to $318.3 million.

In May 2026, management set long-term targets of 10%+ annual organic revenue growth and 67-69% gross margins by 2030. The board authorized a $1.00 billione share repurchase program, executing $600.0 million in buybacks by mid-year. Bulls point to these aggressive buybacks and operating cash flow—which spiked 186% year-over-year to $525.6 million in the first quarter—as proof of strong core profitability. Bears argue the equity trades at a premium multiple of 35.7x earnings as of July 30, 2026, leaving the valuation highly vulnerable to any escalation in ongoing product and securities litigation.

What to watch: progress toward 2030 profit margin targets; developments in active product and securities litigation

03—Filings

Recent SEC Filings

  1. 8-KDEXCOM INC 8-K Report, Executive Changes (Sep 14, 2026)DexCom, Inc. (DXCM) filed a Form 8-K on September 14, 2026 to report an executive promotion. The Board appointed Jereme Sylvain, the Company's Executive Vice President and Chief Financial Officer, to the additional role of Executive Vice President, Chief Operating Officer and Chief Financial Officer, effective September 14, 2026. Under the Offer Letter signed September 11, 2026, Mr. Sylvain's annual base salary is $767,000, with an annual target bonus of 75% of base salary. He remains eligible for annual equity awards under the Amended and Restated 2015 Equity Incentive Plan and participates in the Severance & Change in Control Plan as an executive officer. The filing does not disclose any new equity grants, sign-on payments, or changes to his compensation beyond the stated base and target bonus. In the expanded role, Mr. Sylvain will oversee Dexcom's global operations and quality teams, per the accompanying press release (Exhibit 99.1). CEO Jake Leach described the move as a way to scale the company more effectively. Mr. Sylvain has been with Dexcom since 2018 and has served as CFO since 2021. Consolidating operations and quality oversight with finance under one executive is a notable organizational change, and it signals management's focus on execution and margin discipline as the company pursues growth. The filing is largely administrative and contains no quantitative financial results, guidance, or changes to the company's reported financial position. Investors may watch for whether Dexcom names a new CFO or restructures reporting lines, and whether the operational scope affects execution on product, manufacturing, or quality matters. The full Offer Letter will be filed as an exhibit to the Form 10-Q for the quarter ended September 30, 2026.
  2. 8-KDEXCOM INC 8-K Report, Executive Changes (Sep 10, 2026)DexCom, Inc. (DXCM) filed an 8-K on September 10, 2026 reporting the appointment of Glenn S. Boehnlein as an independent director, effective immediately. The Board increased its size from twelve to thirteen directors to accommodate the appointment, and Mr. Boehnlein was named to the Operations & Innovation Committee and the Audit Committee. The filing is governance-focused and contains no financial results, guidance, or material operating disclosures. Mr. Boehnlein brings more than 20 years of medical technology finance leadership, most recently as Vice President and Chief Financial Officer of Stryker Corporation from 2016 to 2025, followed by an advisory role to Stryker's CEO through 2026. His background in capital allocation, strategic M&A, and global scale operations aligns with the priorities management cited as it executes its newly announced long-range plan. He also currently sits on the boards of Inogen and Agilent Technologies, where he chairs Inogen's Audit Committee, which strengthens the Audit Committee appointment. From a compensation standpoint, the director receives an initial RSU grant with a fair value of $500,000 vesting annually over three years, plus an expected annual RSU grant of approximately $347,500 at the 2027 Annual Meeting. The Board determined he is independent under Nasdaq listing standards, and he has no undisclosed related-party transactions. Investors should view this as a routine but relevant board refresh that adds finance and MedTech scale expertise, with no immediate impact on reported results.
  3. 8-KDEXCOM INC 8-K Report, Financial Results (Jul 30, 2026)DexCom reported second-quarter 2026 revenue of $1.308 billion, up 13% year-over-year on a reported basis and 12% on an organic basis, with U.S. revenue up 11% and international revenue up 19% (16% organic). Profitability improved sharply: GAAP operating income rose to $318.3 million, or 24.3% of revenue, from $212.6 million (18.4%) a year earlier, and non-GAAP operating margin reached 25.1%. GAAP diluted EPS was $0.64 versus $0.45, and non-GAAP diluted EPS was $0.70 versus $0.48. Gross margin also expanded, with GAAP gross margin at 63.4% and non-GAAP at 64.1%, compared with 59.5% and 60.1% in the prior-year quarter. Management raised the midpoint of its full-year 2026 revenue guidance to $5.18–$5.25 billion (roughly 11–13% growth) and raised its non-GAAP gross margin (about 64%), non-GAAP operating margin (about 23.5–24%), and Adjusted EBITDA margin (about 31.5–32%) outlooks. The company also held its 2026 Investor Day and introduced a long-term financial outlook through 2030. Strategic news included positive results from the CONNECT randomized controlled trial in type 2 diabetes patients not using insulin, and the launch of a redesigned Stelo consumer app with AI-driven insights. Balance sheet activity was mixed. Cash, cash equivalents, and marketable securities totaled about $1.95 billion, and the revolving credit facility remains undrawn. Treasury stock rose by roughly $643 million during the first half, indicating meaningful share repurchases, and net shares outstanding declined from about 384.8 million to 377.4 million. Inventory grew about 15% and receivables about 3% since year-end, which investors may want to monitor against revenue growth. This 8-K furnishes the earnings release under Item 2.02 and is not deemed filed under the Exchange Act.
  4. 8-KDEXCOM INC 8-K Report, Shareholder Vote Results (May 28, 2026)DexCom held its 2026 Annual Meeting of Stockholders on May 27, 2026, with 336,525,352 of 385,872,977 eligible shares present or represented by proxy (about 87%), well above the quorum requirement. This 8-K reports only governance votes. It contains no financial results, guidance, or transaction disclosures, so the filing's investor relevance is limited to board composition, auditor ratification, and shareholder sentiment on executive pay. All twelve director nominees were elected to serve until the 2027 annual meeting. Most received well over 90% support of votes cast. Nicholas Augustinos drew the weakest backing, with 265.9 million votes for against 48.0 million against, or roughly 85% for. Kevin Sayer, Richard Collins, Steven Altman, and Bridgette Heller also drew noticeably higher opposition than the rest of the slate, though all were elected comfortably. Stockholders ratified Deloitte & Touche LLP as the independent auditor for fiscal 2026 with approximately 99.9% of votes cast in favor. On the non-binding say-on-pay proposal, 277.1 million shares voted for and 36.7 million against, or about 88% approval of votes cast. That level of support is solid, though the roughly 12% opposition is a signal investors may watch in future proxy seasons.
  5. 8-KDEXCOM INC 8-K Report, Regulation FD Disclosure (May 15, 2026)DEXCOM INC. (DXCM) filed an 8-K on May 15, 2026, detailing key strategic and financial announcements made during their 2026 Investor Day. The company presented ambitious long-range financial targets through 2030, emphasizing sustained organic revenue growth and significant improvements in profitability margins. These targets signal strong confidence in Dexcom's market position and future performance, which will be closely watched by investors. In addition to outlining its growth trajectory, Dexcom's Board of Directors approved a substantial $1.0 billion share repurchase program, signaling a commitment to returning capital to shareholders and potentially enhancing shareholder value. This strategic move, coupled with the long-term financial outlook, provides investors with a comprehensive view of Dexcom's forward-looking strategy, focusing on both growth initiatives and capital allocation.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.