Dexcom shares plunged on disappointing revenue and weak guidance. The stock was down 13% for the year as of Thursday’s close. Dexcom makes continuous…
Dexcom shares plunged on disappointing revenue and weak guidance.$1 billion vs. $1.04 billion expected by LSEGDexcom's revenue increased 15% from $871.3 million a year earlier, according to a release. The company reported a net income of 143.5 million, up from the $115.9 million it reported during the same period last year.
For its third quarter, Dexcom said it expects to report revenue between $975 million to $1 billion to account for"certain unique items impacting 2024 seasonality," the release said. Dexcom updated its full fiscal year guidance to reflect expected revenue between $4 billion and $4.05, which is down from the $4.20 billion to $4.35 billion it reported last quarter.
"While Dexcom advanced several key strategic initiatives in the second quarter, our execution did not meet our high standards," Dexcom CEO Kevin Sayer said in the release."We have a unique opportunity to serve millions of more customers around the world with our differentiated product portfolio and we are taking action to improve our execution and best position ourselves for continued long-term growth.
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