Dexcom (DXCM) Q3 2025 10-Q Quarterly Report

Filed: Oct 30, 2025Period ending Sep 30, 2025
Health Care
Surgical & Medical Instruments & ApparatusSEC EDGAR

Dexcom (DXCM) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 30, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Dexcom Q3 2025 10-Q Analysis

Management Discussion & Analysis

  • Revenue $1.21B in Q3 2025, up 22% YoY from $994.2M in Q3 2024
  • Operating margin 20.0% vs 15.3% YoY; net income margin 23.5% vs 13.5% YoY; net income $283.8M up 111% YoY
  • Best segment: US revenue $851.9M up 21% YoY; worst: Reusable Hardware revenue down to 3% of total revenue from 4% YoY
  • Cash, cash equivalents, and short-term securities $3.32B at quarter-end; operating cash flow $659.9M, up 231% YoY
  • Near-term outlook: management highlights continued customer growth, pricing headwinds, and expects cash from operations sufficient for core business funding

Risk Factors

  • No newly added risk factors this quarter; risk section supplements and supersedes 2024 10-K disclosures
  • No material changes to previously disclosed risk factors; risks remain consistent with 2024 10-K filing
  • Ongoing regulatory risk related to product approvals and compliance impacting market access and launch timing
  • Operational risk around supply chain disruptions affecting near-term production and delivery schedules
  • Financial risk includes currency exposure from international sales impacting revenue translation and margins

Dexcom Q3 2025 Quarterly Financials
XBRL

Revenue

$1.2B

+21.6% YoY +4.5% QoQ

Net Income

$284M

+110.8% YoY +57.8% QoQ

Gross Margin

60.5%

+75bp YoY +95bp QoQ

Operating Margin

20.1%

+476bp YoY +168bp QoQ

Net Margin

23.5%

+993bp YoY +793bp QoQ

ROE

10.4%

Total Assets

$7.5B

EPS (Diluted)

$0.71

+115.2% YoY +61.4% QoQ

Operating Cash Flow

$660M

+230.8% YoY +117.8% QoQ

Source: XBRL data from Dexcom Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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