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Dexcom Announces Preliminary and Unaudited Revenue For Fourth Quarter and Fiscal Year 2023
The company also announced that it has submitted its new glucose monitoring system to the FDA for approval.
Dexcom announced that the company’s revenue for the fourth quarter of 2023 is expected to be at least $1.03 billion in a presentation at the JP Morgan Healthcare Conference. These numbers are preliminary and unaudited.
This revenue would be a 26% over the earnings of the same quarter in the previous year. Similarly, the preliminary and unaudited revenue for the fiscal year 2023 is expected to $3.62 billion.
Dexcom is a San Diego-based company that develops, manufactures, and sells continuous glucose monitoring systems for diabetes.
In a press release, Dexcom’s chairman, president, and CEO Kevin Sayer said, “Dexcom had an incredible year in 2023 with the largest expansion of coverage in our company’s history, a successful rollout of Dexcom G7 in the U.S. and expansion of G7 to more than 15 international markets, and an acceleration in our revenue growth. We plan to continue this momentum in 2024 and further expand our addressable market with the expected launch of our first product for people who do not use insulin.”
In the same press release, the company announced that it expects revenue in 2024 to hit between $4.15 billion and $4.35 billion. This would represent growth of about 20% (depending on which end of the estimate the actual numbers hit).
Dexcom also announced that it submitted its new glucose sensor, Stelo, to the FDA for approval in the fourth quarter of 2023. This device is meant for people with type II diabetes and don’t use insulin. Pending approval, the system is expected to launch in the summer of 2024.
“Understanding glucose levels is key to unlocking our metabolic health, and Stelo will help users see first-hand how their health is affected by factors such as diet, exercise, sleep and stress,” said Jake Leach, executive vice president and chief operating officer at Dexcom. “Through our expanding product portfolio, Dexcom is defining the future of sensing technology and empowering people to take control of health.”
Drexcom’s final, audited fiscal results for 2023 will be released on February 8, 2024.
Source
(Jan. 8, 2024); Dexcom; Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 2023 and Initial 2024 Outlook; https://investors.dexcom.com/news/news-details/2024/Dexcom-Reports-Preliminary-Unaudited-Revenue-for-the-Fourth-Quarter-and-Fiscal-Year-2023-and-Initial-2024-Outlook/default.aspx
