DexCom Q4 Revenue Rises 13% to $1.26 B; 2026 Guidance $5.16–$5.25 B
DexCom reported Q4 revenue of $1.26 billion, a 13% year-over-year increase that beat estimates by $10 million, and non-GAAP EPS of $0.68 outperformed forecasts by $0.03. Full-year 2025 revenue reached $4.662 billion, up 16%, supporting guidance of $5.16–$5.25 billion for 2026.
1. Q4 Performance
In Q4, DexCom generated $1.26 billion in revenue, up 13% year over year and $10 million above expectations, and delivered non-GAAP EPS of $0.68, topping estimates by $0.03. Gross margin expanded to 63.5% from 59.4% as manufacturing optimizations and lower freight costs drove efficiency.
2. Full-Year 2025 Results
Full-year revenue reached $4.662 billion, a 16% increase that exceeded the prior guidance range of $4.63–$4.65 billion. The newly launched over-the-counter Stelo system contributed $130 million in sales, supporting wider category adoption.
3. 2026 Outlook
Management affirmed its 2026 revenue target of $5.16–$5.25 billion, citing continued CGM category expansion, incremental Stelo contributions of approximately 1%, and upcoming product enhancements, such as new G7 features and market coverage expansion.