Dexcom has achieved Q3 revenues of around $1.3bn, coinciding with a series of operational milestones being met throughout the quarter, prompting the continuous glucose monitoring (CGM) specialist to raise its 2026 revenue outlook.
With Q3 performance corresponding to an 11% uptick year-over-year (YoY), Dexcom now expects 2026 revenues to land in the $5.2bn to $5.25bn range, up from $5.18bn at the low end as previously outlined and equating to a 12-13% growth margin for the year. This marks the second successive quarterly upgrade to Dexcom’s forecast.
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Regarding Dexcom’s geographic performance breakdown, it shared that US revenue in Q3 grew 14% YoY, with international revenue growing by 5% YoY.
Dexcom does not share individual product breakdowns within its financial reports, but it highlighted several key achievements throughout Q3.
The California-based company noted that throughout Q3, it advanced the rollout of its G7 15 Day continuous glucose monitor (CGM) in the US and secured its first two G7 15 Day regulatory clearances internationally. Dexcom highlighted that in light of the latter development, it expects to see “continued momentum” in its global base’s transition to the extended wear platform. The company also continued fine-tuning the user experience within its Stelo app, enhancing the meal-logging tool.
Dexcom released its Q3 results after markets closed on 29 October. The company’s stock, listed on the Nasdaq exchange, rose by around 2% to $81.52 at market open on 30 October. Dexcom has a market cap of around $30bn.
Dexcom’s president and CEO, Jake Leach, said: “This quarter, we continued to build momentum across the business, delivering strong revenue growth and margin progression, strengthening our clinical evidence, and advancing key product and operational initiatives.
“This performance enabled us to again raise our full-year revenue and operating margin guidance and reinforces our confidence in our ability to deliver on the long-term objectives we outlined at Investor Day.”
Dexcom’s quarterly performance put it on the road to meeting longer-term aims. During Dexcom’s Investor Day, which took place on 14 May, the company outlined its long-term financial outlook, revealing that it aims to achieve organic top-line growth exceeding 10% each year through 2030. As outlined in a Form 8-K filed with the US Securities and Exchange Commission (SEC), Dexcom shared that its additional longer-term financial aims included achieving a non-GAAP gross profit margin between 67% and 69% in 2030, and a non-GAAP operating profit margin between 29% and 30%.
Reflecting further on its Q3 achievements, Leach said during an earnings call that the Stelo app revamp supported a key aim as outlined during its Investor Day of delivering “greater personalisation and engagement” across “every stage of the customer journey”.
Sharing further tidbits during the call, Leach also asserted that its “steady rollout” of G7 15 Day across the US put it on track to convert “nearly 50%” of its US customer base to G7 15 Day “by year-end”.
