Dexcom has slightly raised its 2026 revenue outlook at the low-end after reporting Q2 revenue of around $1.3bn, indicative of a 13% uptick year-over-year (YoY).
The continuous glucose monitoring (CGM) specialist now expects its 2026 revenue to land in the $5.18bn to $5.25bn range, corresponding to a growth margin between 11%-13% and up from $5.16bn to $5.25bn previously.
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Dexcom released its Q2 results after market close on 30 July. Listed on the Nasdaq exchange, the company’s shares rose by over 8% to $81.04 at market open on 31 July, up from $74.54 previously. Dexcom has a market cap of around $29bn.
The company has achieved some notable outcomes since reporting its Q1 results in April. In June, the US Food and Drug Administration (FDA) cleared Dexcom’s Stelo glucose biosensor system for children, making it the first over-the-counter (OTC) continuous glucose monitor (CGM) for paediatric prediabetic and diabetic patients to be cleared by the agency.
Meanwhile, Dexcom presented data highlighting the benefit of its G7 continuous glucose monitor (CGM) in type 2 diabetes (TD2) patients not receiving insulin at the 2026 American Diabetes Association’s (ADA) Scientific Sessions in June.
The CONNECT randomised controlled trial of 265 evaluable patients assessed G7’s impact on blood glucose management and blood glucose (A1C) levels. At baseline, mean A1C was 8.8%, with 31% of participants having an A1C ≥9%.
Patients assigned G7 experienced, on average, an A1C reduction of 1.6% at 26 weeks, indicative of a 0.9% greater A1C reduction versus the self-monitoring control group. For those with a higher initial A1C, the reduction was even greater.
Dexcom’s Q2 results also follow its investor day. During the event, held 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’s longer-term financial aims also include achieving a non-GAAP gross profit margin between 67% and 69% in 2030, and a non-GAAP operating profit margin between 29% and 30%.
Dexcom’s president and CEO, Jake Leach, commented: “This quarter’s performance and the successful outcomes from our CONNECT trial reinforce our confidence in the path ahead and position us well to deliver on our long-range plan.”
