Dexcom

DexCom, Inc. (Dexcom) is a maker of continuous glucose monitoring systems for people with diabetes. It is based in San Diego, California. Its products include the Dexcom G7 system, the Dexcom G7 15 Day system, which began to roll out in late 2025, and Stelo, a biosensor that it launched in August 2024 for adults with prediabetes and type 2 diabetes who do not use insulin. In 2025, revenue was $4,662.0 million.

In the first nine months of 2026, revenue was $3,844.8 million and net income was $723.7 million. In Q3 of 2026, revenue in the United States grew 14% and revenue abroad grew 5%. Jake Leach is President and Chief Executive Officer. The company files 10-K and 10-Q reports with the SEC, and its common stock trades on Nasdaq in US dollars.

The price of Dexcom depends on whether revenue keeps growing at a double-digit pace while the operating margin rises toward the targets of the company, and on how its lawsuits end. In Q3 of 2026, revenue rose 11% to $1.344 billion, GAAP operating income was $327.2 million, which is 24.3% of revenue, and the non-GAAP operating margin was 25.3%. The company raised its guidance for 2026 to revenue of $5.20 billion to $5.25 billion and a non-GAAP operating margin of about 24%, and it announced a buyback of up to $1.0 billion.

At its Investor Day on May 14, 2026, it set targets of organic revenue growth of 10% or more every year through 2030 and a non-GAAP operating margin of 29% to 30% in 2030. For the price to hold or rise, three things must be true. Growth must stay above 10%, which needs the new G7 15 Day system, the Stelo product and more users of type 2 diabetes who do not use insulin.

Growth abroad, which was 5% in Q3, must improve. The legal cases, which include a securities class action, derivative actions and a class action about the G6 and G7 systems, must end without a large cost. The next tests are the Q4 report with the guidance for 2027, expected in early 2027, and each ruling in the legal cases.

1. Feb 11, 2027 · est.Pending

   Q4 2026 results and guidance for 2027Revenue for 2026 lands in the guided range of $5.20 billion to $5.25 billion and the guidance for 2027 keeps growth near 10% or more with a higher operating margin, and this passes; slower growth or a flat margin fails.
2. Q2 2027 · est.Pending

   Q1 2027 results: growth abroadInternational revenue growth rises above the 5% of Q3 2026 and total growth stays above 10%, and this passes; slower growth fails.

Every passed and failed checkpoint across all picks

• October 29, 2026Dexcom reported Q3 2026 results. Revenue rose 11% to $1.344 billion, GAAP net income was $275.1 million, or $0.72 per diluted share, and non-GAAP net income was $275.0 million, or $0.73 per diluted share. The company held $1.82 billion in cash, cash equivalents and marketable securities, and its revolving credit facility is undrawn.
• October 29, 2026Dexcom announced a share repurchase authorization of up to $1.0 billion. It raised the midpoint of its revenue guidance for 2026 to $5.20 billion to $5.25 billion, and it raised its non-GAAP operating margin guidance to about 24%.
• October 29, 2026After the quarter, a randomized trial named CONNECT, which tested the Dexcom G7 in people with type 2 diabetes who do not use insulin, was published in The New England Journal of Medicine. In Q3, Dexcom launched a redesigned Stelo experience, and it won its first two international clearances of the G7 15 Day system.

Last earnings

October 29, 2026 (8-K on sec.gov)

Next earnings

Expected about February 11, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 29, 2026 · dxcm-20260930
• 8-KEarnings release and Other company newsFiled October 29, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Investor disclosureFiled September 14, 2026 · dxcm-20260910
• 8-KChange of directors or officers and Investor disclosureFiled September 10, 2026 · dxcm-20260910
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 30, 2026 · dxcm-20260630
• 8-KEarnings releaseFiled July 30, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled May 28, 2026 · dxcm-20260527
• 8-KInvestor disclosure and Other company newsFiled May 15, 2026 · dxcm-20260514
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 30, 2026 · dxcm-20260331
• 8-KEarnings releaseFiled April 30, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 1093557)

• Lawsuits can lead to large costs. The Form 10-Q lists a securities class action that is on appeal, several derivative actions, and the G6 and G7 Class Action Litigation. The company says that it cannot estimate the outcome of any of them.
• Growth abroad is slow. International revenue grew 5% in Q3, against 14% in the United States. The targets need growth of 10% or more every year.
• The margin gain must continue. The non-GAAP operating margin guidance is about 24% for 2026, and the target for 2030 is 29% to 30%. A slower rise in gross margin or higher costs would delay it.
• The convertible notes will need cash or shares. The notes of $1.25 billion fall due on May 15, 2028, and the conversion price is $162.41 per share. The company can pay in cash, shares or both.
• Share-based pay is a large cost. It was $119.1 million in the nine months, and the company does not add it back to its non-GAAP operating income.

At September 30, 2026, Dexcom held $1.82 billion in cash, cash equivalents and marketable securities. Its revolving credit facility is undrawn. Read more

Dexcom does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.