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DexCom, Inc. is a medical device company specializing in the design, development, and commercialization of continuous glucose monitoring (CGM) systems for diabetes management. The company sells integrated CGM systems, including the Dexcom G6 and G7, as well as the Stelo sensor, which is the first over-the-counter glucose biosensor in the U.S. . DexCom generates revenue from disposable sensors and reusable hardware, such as transmitters and receivers, with sales influenced by factors like seasonality and insurance deductible resets . In 2023, the company reported a significant increase in revenue, reflecting strong demand for its products .
- Dexcom G6 and G7 Integrated CGM Systems - Provides continuous glucose monitoring for diabetes management, used by patients, caregivers, and clinicians worldwide.
- Stelo Sensor - Offers a 15-day glucose monitoring solution for people with Type 2 diabetes who do not use insulin, available over-the-counter in the U.S.
- Disposable Sensors - Supplies sensors that are used with CGM systems, contributing to recurring revenue through regular replacements.
- Reusable Hardware - Includes transmitters and receivers that work with CGM systems, providing essential components for continuous glucose monitoring.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Kevin R. Sayer ExecutiveBoard | Chairperson of the Board, President, and CEO | None | Joined Dexcom in 2007; CEO since 2015; instrumental in advancing Dexcom's CGM technology and market leadership. | View Report → |
Jacob S. Leach Executive | Executive Vice President and COO | None | Joined Dexcom in 2004; oversees operations and has contributed to CGM technology development. | |
Jereme M. Sylvain Executive | Executive Vice President and CFO | None | Joined Dexcom in 2018; CFO since 2021; oversees financial operations and compliance. | |
Matthew Dolan Executive | Executive Vice President of Strategy, Corporate Development & Dexcom Labs | None | Joined Dexcom in 2015; leads corporate strategy, partnerships, and Dexcom Labs. | |
Michael J. Brown Executive | Executive Vice President and Chief Legal Officer | Board Member of Riding on Insulin | Joined Dexcom in 2022; oversees all legal and intellectual property matters. | |
Sadie M. Stern Executive | Executive Vice President and Chief Human Resources Officer | None | Joined Dexcom in 2020; leads human resources and organizational development. | |
Bridgette P. Heller Board | Independent Director | Board Member at Aramark Corporation, Integral Ad Science, Novartis AG, and Newman’s Own | Joined Dexcom's Board in 2019; has extensive experience in consumer healthcare and business leadership. | |
Eric J. Topol, M.D. Board | Independent Director | Director at Scripps Translational Science Institute; EVP at Scripps Research Institute; Digital Medical Advisor to Blue Cross Blue Shield Association | Joined Dexcom's Board in 2009; renowned physician and thought leader in digital healthcare. | |
Karen Dahut Board | Independent Director | CEO of Google Public Sector; Board Member at National Air and Space Museum and EisnerAmper LLP | Joined Dexcom's Board in 2020; recognized for leadership in digital transformation and innovation. | |
Kyle Malady Board | Independent Director | EVP and CEO of Verizon Business; Board Member at CTIA; Member of President's NSTAC | Joined Dexcom's Board in 2020; provides expertise in telecommunications and technology. | |
Mark G. Foletta Board | Lead Independent Director | Board Member at AMN Healthcare Services, Inc. and Enanta Pharmaceuticals, Inc. | Joined Dexcom's Board in 2014; provides financial and audit expertise. | |
Nicholas Augustinos Board | Independent Director | Board Member at Aver, Inc. and California Health Care Foundation | Joined Dexcom's Board in 2009; has extensive experience in healthcare technology and strategy. | |
Rimma Driscoll Board | Independent Director | EVP at Zoetis Inc.; Board Member at Pumpkin Insurance | Joined Dexcom's Board in 2023; brings expertise in global strategy and business development. | |
Steven R. Altman Board | Independent Director | Chairman of the Board at Prospector Capital Corporation | Joined Dexcom's Board in 2013; brings expertise in intellectual property and corporate strategy. |
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Despite your efforts to stabilize relationships with DME partners and become more channel agnostic, you're still losing some share; what concrete steps are you taking to regain lost DME share, and is it realistic to expect a return to your prior standing with DMEs in the near future?
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With the U.S. CGM market growth appearing to slow to around 10% in Q3, how confident are you in achieving your 2025 revenue target of $4.6 billion, and what specific strategies do you have in place to drive growth in a potentially slowing market?
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You mentioned a six-point impact from rebate dynamics on growth in Q3 and are expecting less impact in Q4; how will ongoing rebate pressures affect your pricing strategy and margins moving into 2025, and what actions are you taking to mitigate their impact on profitability?
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Given the uncertainty around the FDA approval timing for the 15-day G7 product, how are you incorporating potential delays into your 2025 financial projections, and what contingency plans do you have if the approval or rollout takes longer than anticipated?
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While you've reported record new patient starts this quarter, you've acknowledged that sales force productivity is still about three months behind; how will this lag affect your ability to meet your projected sequential growth in Q4 and adhere to your long-term guidance, and what specific measures are in place to accelerate productivity gains?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
In selling our current CGM systems, we compete directly with the Diabetes Care division of this company; they manufacture and market products for the single-point finger stick device market. We have competed with them and their Libre family of CGM products for many years. They have received FDA clearance to integrate certain versions of their Libre sensors into automated insulin delivery systems and are pursuing such integrations with third-party insulin delivery devices. | |
This company's Diabetes Group markets and sells a standalone glucose monitoring product called Guardian Connect, both internationally and in the United States, and a disposable CGM system called Simplera in international markets. They have developed or are developing insulin pumps integrated with continuous glucose monitoring systems that provide, among other things, the ability to suspend insulin administration while the user’s glucose levels are low and to automate basal or bolus insulin dosing. | |
Roche Diabetes Care | This division of Roche Diagnostics manufactures and markets products for the single-point finger stick device market, competing directly with our current CGM systems. |
LifeScan, Inc. | This privately-held company manufactures and markets products for the single-point finger stick device market, competing directly with our current CGM systems. |
Ascensia Diabetes Care | This company manufactures and markets products for the single-point finger stick device market, competing directly with our current CGM systems. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Distributor in Australia and New Zealand | 2022 | Deal Details: Although the deal value and structure were not disclosed, the acquisition enabled Dexcom to expand into the Australia and New Zealand markets, driving international revenue growth. Notably, the non-CGM revenue from this acquisition was excluded from organic revenue calculations in financial reports. |
Recent press releases and 8-K filings for DXCM.
- Dexcom reported Q1 2025 revenue of $1.036B with 14% organic growth over Q1 2024, including U.S. revenue of $751M (+15%) and robust international performance .
- The quarter delivered GAAP operating income of $133.7M (12.9% margin) and non-GAAP gross profit of $596M (57.5% margin) .
- Updated FY 2025 guidance projects $4.60B in revenue and anticipates non-GAAP gross profit margins of ~62% .
- The Board approved a $750M share repurchase program, with Q1 closing at approximately $2.7B in cash, underscoring strong financial flexibility .
- Post-quarter, Dexcom received FDA clearance for the 15 Day Dexcom G7 System (MARD of 8.0%), supporting a launch in 2H25 .
- Karen Dahut resigned from the Board effective May 8, 2025, with the departure not linked to any disputes; the 8-K was signed by CFO Jereme M. Sylvain on May 2, 2025 .
- Dexcom dismissed Ernst & Young LLP as its independent registered public accounting firm effective March 21, 2025, although EY’s audit reports for fiscal years ended December 31, 2024 and 2023 were unqualified and without any adverse comments.
- The Audit Committee engaged Deloitte & Touche LLP as the new auditor for the fiscal year ending December 31, 2025, marking a transition in the company’s auditing practices.