NASDAQ$DXCM

DexCom Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Dexcom's second quarter performance was characterized by strong financial results and the continued advancement of its key strategic initiatives.

Dexcom reported strong second quarter financial results with revenue growth of 32% compared to the same quarter of the prior year, reaching $595.1 million. The company increased its guidance for fiscal year 2021 revenue, Non-GAAP gross profit margin, Non-GAAP operating margin.

  • Revenue grew 32% versus the same quarter of the prior year to $595.1 million
  • U.S. revenue growth of 26% and international revenue growth of 58%
  • GAAP operating income of $101.0 million or 17.0% of revenue, an increase of 200 basis points compared to the second quarter of 2020.
  • Non-GAAP operating income of $101.5 million or 17.1% of revenue, an increase of 10 basis points over the same quarter of the prior year

Headline financials

Total Revenue

$595M

Previous: $452M+31.7%
EPS (adj)

$0.19

Previous: $0.20-5.0%
GAAP Operating Margin

17.0%

Previous: 15.0%+13.3%
Capital Expenditures

-$201M

Previous: -$91.4M-119.8%
Free Cash Flow

-$138M

Previous: -$45.1M-206.0%
Net Income

$62.9M

Previous: $46.3M+35.9%
Operating Income

$101M

Previous: $67.8M+49.0%
Gross Profit

$417M

Previous: $284M+46.8%
Cash & Equivalents

$1.16B

Previous: $530M+118.6%
Total Assets

$4.5B

Previous: $3.52B+27.9%
Stock-Based Comp

$31.6M

Previous: $30.7M+2.9%

Revenue & EPS history

DexCom · Revenue · Quarterly

$595M

Q2 2021+31.7%vs Q2 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Forward guidance

Dexcom is increasing its guidance for fiscal year 2021 revenue, Non-GAAP gross profit margin, Non-GAAP operating margin, and Adjusted EBITDA margin to the following levels:

Tailwinds

  • Revenue of approximately $2.35 - 2.40 billion (22-25% growth)
  • Non-GAAP Gross Profit Margin of approximately 67%
  • Non-GAAP Operating Margin of approximately 14%
  • Adjusted EBITDA Margin of approximately 24%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+1.6%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+1.8%

Avg return

30 days after

56%

36 / 64 earnings

Positive

+31.1%

Q2 2018

Best reaction

-42.8%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+9.8%+1.4%+23.8%
Q4 2025+7.6%+11.9%-1.3%
Q3 2025+1.6%-13.1%-6.9%
Q1 2025+16.0%+18.6%+22.1%
Q4 2024+5.9%+6.6%-15.9%
Q3 2024+1.3%-0.3%+0.5%
Q2 2024-42.8%-37.7%-33.8%
Q1 2024-9.8%-7.6%-7.6%
Q4 2023-4.8%-7.6%+6.8%
Q3 2023+5.9%+5.3%+33.9%
Q2 2023+1.3%-6.6%-22.9%
Q1 2023-2.9%-5.5%-7.9%
Q4 2022+7.3%+7.9%-1.9%
Q3 2022+17.8%+16.0%+9.2%
Q2 2022-4.3%+2.9%-1.5%
Q1 2022-1.1%-4.3%-30.0%
Q4 2021-6.1%-6.8%-12.9%
Q3 2021+11.6%+14.5%+6.0%
Q2 2021+12.1%+13.3%+13.2%
Q1 2021-9.3%-12.8%-13.2%
Q4 2020+3.3%+1.2%-10.4%
Q3 2020-16.5%-23.5%-25.2%
Q2 2020+0.9%+2.9%+1.0%
Q1 2020+3.1%+1.9%+8.0%
Q4 2019+15.4%+20.3%-0.8%
Q3 2019+26.8%+33.9%+46.4%
Q2 2019-5.2%-9.1%+9.7%
Q1 2019-0.6%+0.9%+0.2%
Q4 2018-5.9%-4.1%-11.3%
Q3 2018+10.5%+14.2%-1.0%
Q2 2018+31.1%+28.1%+51.8%
Q1 2018+14.2%+16.6%+25.6%
Q4 2017-1.4%+6.6%+3.0%
Q3 2017+6.1%+11.1%+29.0%
Q2 2017+7.1%+6.8%+12.0%
Q1 2017-7.1%-4.3%-16.0%
Q4 2016+2.9%+1.6%+7.3%
Q3 2016-19.6%-20.9%-19.0%
Q2 2016-1.9%-1.5%-1.0%
Q1 2016-5.5%
Q4 2015+1.4%
Q3 2015-3.0%
Q2 2015+9.9%
Q1 2015-0.7%
Q4 2014+0.6%
Q3 2014+15.7%
Q2 2014+10.9%
Q1 2014-1.8%
Q4 2013-3.1%
Q3 2013+16.4%
Q2 2013+18.7%
Q1 2013+10.0%
Q4 2012+9.2%
Q3 2012-1.5%
Q2 2012+2.4%
Q1 2012+2.0%
Q4 2011-3.6%
Q3 2011-16.2%
Q2 2011-17.7%
Q1 2011-1.7%
Q4 2010+5.3%
Q3 2010-22.1%
Q2 2010+5.5%
Q1 2010-9.2%

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