NASDAQ$DXCM

DexCom Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported financial results for the quarter and fiscal year ended December 31, 2022.

Dexcom's Q4 2022 revenue grew by 17% to $815.2 million compared to the same quarter of the prior year. GAAP operating income was $125.4 million, or 15.4% of revenue, and GAAP net income was $91.8 million, or $0.22 per diluted share.

  • Revenue grew 17% versus the same quarter of the prior year to $815.2 million.
  • U.S. revenue growth of 17% and international revenue growth of 15%.
  • GAAP operating income of $125.4 million or 15.4% of revenue, an increase of 1,530 basis points compared to the fourth quarter of 2021.
  • Received FDA clearance for the Dexcom G7 CGM system for people with diabetes ages two years and older.

Headline financials

Total Revenue

$815M

Previous: $698M+16.8%
EPS (adj)

$0.34

Previous: $0.17+100.0%
GAAP Operating Margin

15.4%

Previous: 0.1%+15300.0%
Capital Expenditures

$63.5M

Previous: $80.2M-20.8%
Free Cash Flow

$69M

Previous: $25.6M+169.5%
Net Income

$91.8M

Previous: -$19.4M+573.2%
Operating Income

$125M

Previous: $600K+20800.0%
Gross Profit

$541M

Previous: $473M+14.5%
Cash & Equivalents

$642M

Previous: $1.05B-39.0%
Total Assets

$5.39B

Previous: $4.86B+10.9%
Stock-Based Comp

$34M

Previous: $26.3M+29.3%

Revenue & EPS history

DexCom · Revenue · Quarterly

$815M

Q4 2022+16.8%vs Q4 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

The company is reiterating guidance for fiscal year 2023 revenue, Non-GAAP Gross Profit Margin, and Non-GAAP Operating Margin, and establishing guidance for Adjusted EBITDA Margin at the following levels:

Tailwinds

  • Revenue of approximately $3.35 - 3.49 billion (15-20% growth)
  • Non-GAAP Gross Profit Margin of 62-63%
  • Non-GAAP Operating Margin of approximately 16.5%
  • Adjusted EBITDA Margin of approximately 26%

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 2022

Historical avgQ4 2022

+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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