DexCom's Q2 2025 earnings call revealed strong revenue growth, significant expansion in coverage, and continued innovation in product offerings, offset by challenges in gross margin and inventory management. Despite concerns about potential CMS competitive bidding, the company's strategic moves and positive clinical evidence position it favorably for future growth.

Company Guidance

During the DexCom Second Quarter 2025 Earnings Conference Call, Kevin Sayer, Chairman and CEO, highlighted the company's 15% organic revenue growth compared to the previous year, driven by strong category growth and strategic access wins, including type 2 non-insulin reimbursement with a third major PBM. This expanded coverage now encompasses nearly 6 million type 2 non-insulin lives on the national formularies of the largest commercial PBMs in the U.S. The call also emphasized the growing interest in DexCom's over-the-counter glucose biosensor, Stelo, which has seen over 400,000 app downloads, and the upcoming launch of the 15-day G7 System with FDA clearance secured. Financially, DexCom reported a second-quarter revenue of $1.16 billion, with a gross profit margin of 60.1%. The company raised its revenue guidance for 2025, projecting growth between 14% and 15%, and reaffirmed its margin targets, including a non-GAAP gross profit margin of approximately 62%.

Strong Revenue Growth

DexCom reported a worldwide revenue of $1.16 billion for Q2 2025, a 15% increase from Q2 2024. U.S. revenue grew by 15% to $841 million, and international revenue grew by 16% to $316 million.

Expansion of Type 2 Diabetes Coverage

DexCom secured reimbursement for type 2 non-insulin diabetes on the national formularies of the three largest commercial PBMs in the U.S., covering nearly 6 million lives.

Product Innovation and Launches

DexCom introduced 17 app updates across products and secured FDA clearance for the 15-day G7 System, set to launch in the second half of the year.

Increased International Coverage

DexCom expanded coverage in international markets, including obtaining coverage for all insulin users with the Ontario Drug Benefit Program in Canada.

Positive Clinical Evidence

Presented or supported nearly 40 studies at the ADA's 85th Scientific Sessions, indicating strong outcomes for DexCom CGM usage in gestational diabetes and type 2 non-insulin care.

Dexcom (DXCM) Earnings, Revenues Date & History

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DXCM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.57 / -	0.45	―	―	―
Jul 30, 2025	2025 (Q2)	0.44 / 0.48	0.43	11.63% (+0.05)
May 01, 2025	2025 (Q1)	0.33 / 0.32	0.32	0.00% (0.00)
Feb 13, 2025	2024 (Q4)	0.48 / 0.45	0.5	-10.00% (-0.05)
Oct 24, 2024	2024 (Q3)	0.43 / 0.45	0.5	-10.00% (-0.05)
Jul 25, 2024	2024 (Q2)	0.39 / 0.43	0.34	26.47% (+0.09)
Apr 25, 2024	2024 (Q1)	0.27 / 0.32	0.17	88.24% (+0.15)
Feb 08, 2024	2023 (Q4)	0.43 / 0.50	0.34	47.06% (+0.16)
Oct 26, 2023	2023 (Q3)	0.34 / 0.50	0.28	78.57% (+0.22)
Jul 27, 2023	2023 (Q2)	0.23 / 0.34	0.17	100.00% (+0.17)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DXCM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$89.06	$80.77	-9.31%
May 01, 2025	$70.26	$81.62	+16.17%
Feb 13, 2025	$84.09	$89.07	+5.92%
Oct 24, 2024	$74.85	$73.44	-1.88%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.