DexCom, Inc. (DXCM) Income Statement
DXCM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDXCM revenue and net income
Where DXCM's revenue goes
2025Each bar shows an amount and its share of revenue. DXCM kept 17.9% of revenue as net income.
DXCM profit margins
DXCM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.6% | +17.0% | +19.3% | +27.8% |
| Gross profit | +14.9% | +14.2% | +17.0% | +26.0% |
| Operating income | +52.0% | +32.6% | +24.9% | — |
| Net income | +45.1% | +34.8% | +11.1% | — |
| EPS (diluted) | +26.7% | +33.9% | +21.8% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DXCM quarterly EPS vs estimates
DexCom beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.66).
DXCM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.66B | $4.03B | $3.62B | $2.91B | $2.45B | $1.93B | $1.48B | $1.03B | $718.5M | $573.3M |
| Cost of revenue | $1.86B | $1.59B | $1.33B | $1.03B | $768.0M | $646.6M | $544.5M | $367.7M | $226.4M | $194.9M |
| Gross profit | $2.80B | $2.44B | $2.29B | $1.88B | $1.68B | $1.28B | $931.5M | $663.9M | $492.1M | $378.4M |
| Research & development | $599.1M | $552.4M | $505.8M | $484.2M | $604.2M | $359.9M | $273.5M | $417.4M | $185.4M | $156.1M |
| Sales, general & admin | $1.29B | $1.29B | $1.19B | $1.00B | $810.5M | $620.7M | $515.7M | $432.8M | $349.2M | $286.2M |
| Total operating expenses | $1.89B | $1.84B | $1.69B | $1.49B | $1.41B | $980.6M | $789.2M | $850.2M | $534.6M | $442.3M |
| Operating income | $911.8M | $600.0M | $597.7M | $391.2M | $265.8M | $299.5M | $142.3M | −$186.3M | −$42.5M | −$63.9M |
| Interest income | $112.7M | $134.2M | $135.0M | $18.0M | $1.7M | $16.1M | $26.4M | $2.4M | $3.3M | $400,000 |
| Interest expense | $18.3M | $19.0M | $20.3M | $18.6M | $18.8M | $84.7M | $60.3M | $22.7M | $12.8M | $700,000 |
| Income before taxes | $1.09B | $709.0M | $710.4M | $390.8M | $256.8M | $225.0M | $104.2M | −$126.5M | −$48.6M | −$64.9M |
| Income taxes | $252.1M | $132.8M | $168.9M | $49.6M | $39.9M | −$268.6M | $3.1M | $600,000 | $1.6M | $700,000 |
| Net income | $836.3M | $576.2M | $541.5M | $341.2M | $216.9M | $493.6M | $101.1M | −$127.1M | −$50.2M | −$65.6M |
| EBITDA | $1.36B | $945.7M | $916.7M | $565.3M | $377.6M | $376.8M | $213.2M | −$74.7M | −$19.7M | −$49.2M |
| EPS (diluted) | $2.09 | $1.65 | $1.51 | $0.87 | $0.66 | $0.78 | $0.46 | $0.08 | −$0.14 | −$0.19 |
| Gross margin | 60.1% | 60.5% | 63.2% | 64.7% | 68.6% | 66.4% | 63.1% | 64.4% | 68.5% | 66.0% |
| Operating margin | 19.6% | 14.9% | 16.5% | 13.4% | 10.9% | 15.5% | 9.6% | −18.1% | −5.9% | −11.1% |
| Net margin | 17.9% | 14.3% | 14.9% | 11.7% | 8.9% | 25.6% | 6.8% | −12.3% | −7.0% | −11.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.19B | $1.26B | $1.21B | $1.16B | $1.04B | $1.11B | $994.2M | $1.00B | $921.0M | $1.03B | $975.0M |
| Cost of revenue | $478.4M | $441.6M | $466.9M | $477.9M | $468.3M | $447.0M | $457.7M | $400.4M | $377.6M | $359.1M | $377.9M | $351.7M |
| Gross profit | $830.0M | $750.3M | $792.7M | $731.4M | $688.8M | $589.0M | $655.8M | $593.8M | $626.7M | $561.9M | $656.6M | $623.3M |
| Research & development | $153.0M | $145.3M | $148.2M | $157.5M | $148.2M | $145.2M | $139.5M | $135.4M | $136.0M | $141.5M | $136.1M | $131.4M |
| Sales, general & admin | $358.7M | $349.7M | $321.5M | $331.4M | $328.0M | $310.1M | $327.4M | $306.4M | $332.7M | $319.3M | $308.8M | $284.7M |
| Total operating expenses | $511.7M | $495.0M | $469.7M | $488.9M | $476.2M | $455.3M | $466.9M | $441.8M | $468.7M | $460.8M | $439.7M | $417.8M |
| Operating income | $318.3M | $255.3M | $323.0M | $242.5M | $212.6M | $133.7M | $188.9M | $152.0M | $158.0M | $101.1M | $216.9M | $205.5M |
| Interest income | $16.9M | $19.5M | $23.5M | $32.7M | $28.0M | $28.5M | $29.7M | $32.0M | $36.2M | $36.3M | $33.8M | $41.5M |
| Interest expense | $3.0M | $3.1M | $4.2M | $4.7M | $4.7M | $4.7M | $4.9M | $4.7M | $4.8M | $4.6M | $4.9M | $4.9M |
| Income before taxes | $317.5M | $269.5M | $340.7M | $352.3M | $241.1M | $154.3M | $211.3M | $177.4M | $187.8M | $132.5M | $246.2M | $240.4M |
| Income taxes | $68.4M | $70.0M | $73.4M | $68.5M | $61.3M | $48.9M | $59.6M | $42.8M | $44.3M | −$13.9M | −$10.1M | $119.7M |
| Net income | $249.1M | $199.5M | $267.3M | $283.8M | $179.8M | $105.4M | $151.7M | $134.6M | $143.5M | $146.4M | $256.3M | $120.7M |
| EBITDA | $388.7M | $339.7M | $410.1M | $420.6M | $308.8M | $219.0M | $274.0M | $237.4M | $244.7M | $189.6M | $303.6M | $293.5M |
| EPS (diluted) | $0.70 | $0.56 | $0.68 | $0.61 | $0.48 | $0.32 | $0.45 | $0.45 | $0.43 | $0.32 | $0.50 | $0.50 |
| Gross margin | 63.4% | 62.9% | 62.9% | 60.5% | 59.5% | 56.9% | 58.9% | 59.7% | 62.4% | 61.0% | 63.5% | 63.9% |
| Operating margin | 24.3% | 21.4% | 25.6% | 20.1% | 18.4% | 12.9% | 17.0% | 15.3% | 15.7% | 11.0% | 21.0% | 21.1% |
| Net margin | 19.0% | 16.7% | 21.2% | 23.5% | 15.5% | 10.2% | 13.6% | 13.5% | 14.3% | 15.9% | 24.8% | 12.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DXCM's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DXCM financial results
In fiscal year 2025 (ended December 31, 2025), DexCom reported revenue of $4.7 billion, up 15.6% from the year before. It had net income of $836.3 million (up 45.1%), a net profit margin of 17.9%. Diluted earnings per share came to $2.09. Over five years revenue grew at an average rate of 19.3% a year.
See the DXCM stock overview for the latest quote and news, or the DXCM chart for price history and technical indicators.
DXCM income statement FAQ
What is DexCom's annual revenue?
DexCom reported total revenue of $4.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 15.6% from $4.0 billion the previous year.
Is DexCom profitable?
Yes. DexCom reported net income of $836.3 million in fiscal 2025, a net profit margin of 17.9%; its operating margin was 19.6%.
What is DexCom's gross margin?
DexCom's gross margin was 60.1% in fiscal 2025: for every $100 of revenue, DexCom kept $60 after the direct cost of its products and services.
How much does DexCom spend on research and development?
DexCom spent $599.1 million on research and development in fiscal 2025, 12.9% of revenue.
How fast is DexCom growing?
Revenue grew 19.3% a year on average over the last five fiscal years, from $1.9 billion to $4.7 billion.
What are DexCom's earnings per share?
DexCom earned $2.09 per diluted share in fiscal 2025, compared with $1.65 a year earlier.
When will DexCom report its next earnings?
DexCom is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does DexCom's fiscal year end?
DexCom's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.