NASDAQ$DXCM

DexCom Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

DexCom's revenue increased driven by volume growth and new patient additions, resulting in GAAP profitability.

DexCom reported a strong fourth quarter and fiscal year 2019, with revenue growth of 37% in Q4 and 43% for the full year. The company achieved GAAP profitability for the first time and is well-positioned for long-term growth.

  • Revenue grew 37% versus the same quarter of the prior year to $462.8 million.
  • U.S. revenue growth of 34% and international revenue growth of 52%.
  • GAAP operating income of $101.5 million or 21.9% of revenue.
  • Commenced launch of G6 into Medicare

Headline financials

Total Revenue

$463M

Previous: $338M+36.9%
EPS (adj)

$0.29

Previous: $0.14+107.1%
GAAP Operating Margin

21.9%

No prior period
Capital Expenditures

$44.1M

Previous: $17.7M+149.2%
Free Cash Flow

$99.6M

Previous: $16M+522.5%
Net Income

$92.7M

Previous: -$180M+151.6%
Operating Income

$102M

Previous: -$165M+161.7%
Gross Profit

$309M

Previous: $223M+38.8%
Cash & Equivalents

$446M

Previous: $1.14B-60.8%
Total Assets

$2.4B

Previous: $1.92B+25.0%
Stock-Based Comp

$23.6M

Previous: $24.6M-4.1%

Revenue & EPS history

DexCom · Revenue · Quarterly

$463M

Q4 2019+36.9%vs Q4 2018
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Forward guidance

Dexcom reaffirmed its revenue projection and provided the following gross profit, operating margin, and Adjusted EBITDA margin expectations for full fiscal year 2020:

Tailwinds

  • Revenue of $1.725 billion to $1.775 billion (17% - 20% growth)
  • Gross profit margin of approximately 64%
  • Non-GAAP operating margin of approximately 13%
  • Non-GAAP adjusted EBITDA margin of approximately 23%

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 Q4 2019

Historical avgQ4 2019

+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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