Dexcom updates long-range financial targets

DexCom, Inc. announced an update to its long-range financial targets at its 2023 Investor Day. Based on the company’s strong performance in the first two years of the target period, Dexcom is updating its year-end 2025 financial targets to the following levels:

• 2025 Revenue of approximately $4.6 – $5.1 billion (previously $4.0 – $4.5 billion)
• 2025 Non-GAAP Gross Profit Margin of 65%, consistent with prior guidance
• 2025 Non-GAAP Operating Profit Margin of 21% (previously 20%)
• 2025 Adjusted EBITDA Margin of 31% (previously 30%)

“Dexcom continues to execute on our vision to drive better health outcomes throughout the world through our innovative sensing technology,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “Our growth opportunity is truly unique and we are pleased to be in a position to raise our 2025 financial targets as we grow our global customer base with an efficient and sustainable business model.”

Statement regarding use of non-GAAP financial measures
This press release includes non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure please see the section below titled “About Non-GAAP financial measures.” We have not reconciled our Non-GAAP Gross Profit Margin, Non-GAAP Operating Profit Margin, Non-GAAP Tax Rate, and Adjusted EBITDA Margin estimates for fiscal year 2025 because certain items that impact these figures are uncertain or out of our control and cannot be reasonably predicted. Accordingly, a reconciliation of Non-GAAP Gross Profit Margin, Non-GAAP Operating Profit Margin, Non-GAAP Tax Rate, and Adjusted EBITDA Margin for fiscal year 2025 is not available without unreasonable effort.

Cautionary statement regarding forward looking statements
This press release contains forward-looking statements that are not purely historical regarding Dexcom’s or its management’s intentions, beliefs, expectations and strategies for the future, including those related to Dexcom’s estimated total revenue, Non-GAAP Gross Profit Margin, Non-GAAP Operating Profit Margin, Non-GAAP Tax Rate, and Adjusted EBITDA Margin for fiscal year 2025. All forward-looking statements included in this press release are made as of the date of this release, based on information currently available to Dexcom, deal with future events, are subject to various risks and uncertainties, and actual results could differ materially from those anticipated in those forward-looking statements. The risks and uncertainties that may cause actual results to differ materially from Dexcom’s current expectations are more fully described in Dexcom’s most recent Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as filed with the SEC on April 27, 2023. Except as required by law, Dexcom assumes no obligation to update any such forward-looking statement after the date of this report or to conform these forward-looking statements to actual results. Business Wire