Summary
DexCom, Inc. (DXCM) filed an 8-K on January 10, 2017, to report preliminary financial results for the fourth quarter and full fiscal year 2016, as well as its financial outlook for fiscal year 2017. The company announced that its preliminary unaudited revenue for Q4 2016 was approximately $168 million, representing a 13% sequential increase and a 28% year-over-year increase. For the full fiscal year 2016, preliminary unaudited revenue was approximately $570 million, a substantial 42% increase from 2015. This growth indicates a strong performance and increasing adoption of DexCom's continuous glucose monitoring (CGM) systems.
Key Highlights
- 1Preliminary Q4 2016 revenue of approximately $168 million, up 28% year-over-year.
- 2Full fiscal year 2016 revenue of approximately $570 million, up 42% year-over-year.
- 3Global patient base reached approximately 200,000 as of December 31, 2016.
- 4Approximately 20-25% of the global patient base resides outside the United States.
- 52017 revenue outlook projected to be in the range of $710 million to $740 million.
- 62017 gross margin outlook estimated between 67% and 70%.
- 72017 operating expenses expected to increase by 20% to 25% over fiscal year 2016 levels.
Frequently Asked Questions
DexCom reported preliminary, unaudited revenue of approximately $168 million for Q4 2016, a 28% increase year-over-year. For the full fiscal year 2016, preliminary revenue was approximately $570 million, up 42% from fiscal year 2015.
DexCom provided a financial outlook for fiscal year 2017, estimating revenue between $710 million and $740 million, a gross margin between 67% and 70%, and an anticipated increase in operating expenses of 20% to 25% compared to fiscal year 2016.
The company's estimated global patient base grew to approximately 200,000 patients as of December 31, 2016. Approximately 20% to 25% of these patients are located outside the United States, indicating international expansion.
This 8-K filing provides investors with an early look at DexCom's preliminary financial performance for the recently concluded fiscal year and quarter, along with forward-looking guidance for the upcoming year. This information, presented at the J.P. Morgan Healthcare Conference, helps investors assess the company's growth trajectory and future prospects.