The company said disposable sensor and other revenue made up about 93% of revenue for Q1 2024, and Reusable Hardware about 7%. It cited higher disposable sensor sales volume and the addition of about 600,000 users to its worldwide customer base in 2023 as drivers of the revenue increase.

10-QQuarterly reportFiled Apr 25, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said disposable sensor and other revenue made up about 93% of revenue for Q1 2024, and Reusable Hardware about 7%. It cited higher disposable sensor sales volume and the addition of about 600,000 users to its worldwide customer base in 2023 as drivers of the revenue increase.
Dexcom said the decline in gross profit margin for Q1 2024 was driven by product and channel mix changes. The company cited compensation-related costs of $6.8 million, supplies and other support costs of $5.0 million, and clinical trials costs of $3.2 million as drivers of higher research and development expense.
The company said operating cash flow was $209.2 million for the 3 months ended March 31, 2024. Cash, cash equivalents and short-term marketable securities totaled $2.90 billion as of March 31, 2024, up $172.9 million from $2.72 billion as of December 31, 2023.
The company said it has senior convertible notes maturing in November 2025 and May 2028. It also said it expects significant capital expenditures over the next 1 years to expand capacity in Mesa, Arizona and build out manufacturing facilities in Malaysia and Ireland.

Key figures

Quarter ended March 31, 2024

Revenue: $921M
Operating income: $101M
Net income: $146M
EPS: $0.36
Gross profit: $562M
Operating cash flow: $209M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Disposable Sensor Mix and User Growth

The company said disposable sensor and other revenue made up about 93% of revenue for Q1 2024, and Reusable Hardware about 7%. It cited higher disposable sensor sales volume and the addition of about 600,000 users to its worldwide customer base in 2023 as drivers of the revenue increase.

Source · Based on the MD&A text of the filing

Gross Margin and R&D Expense Changes for Q1

Dexcom said the decline in gross profit margin for Q1 2024 was driven by product and channel mix changes. The company cited compensation-related costs of $6.8 million, supplies and other support costs of $5.0 million, and clinical trials costs of $3.2 million as drivers of higher research and development expense.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Cash Position

The company said operating cash flow was $209.2 million for the 3 months ended March 31, 2024. Cash, cash equivalents and short-term marketable securities totaled $2.90 billion as of March 31, 2024, up $172.9 million from $2.72 billion as of December 31, 2023.

Source · Based on the MD&A text of the filing

Senior Convertible Notes and Capital Expenditure Plans

The company said it has senior convertible notes maturing in November 2025 and May 2028. It also said it expects significant capital expenditures over the next 1 years to expand capacity in Mesa, Arizona and build out manufacturing facilities in Malaysia and Ireland.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.