DexCom, Inc. (DXCM) Financial Statements

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DexCom financial statements at a glance

DexCom reported revenue of $4.66 billion for fiscal year 2025 (ended December 31, 2025), up 15.6% from fiscal year 2024. Net income was $836.30 million, a net margin of 17.9%, and diluted earnings per share were $2.09.

At the end of fiscal year 2025 it had total assets of $6.34 billion, total liabilities of $3.59 billion and shareholders' equity of $2.75 billion, with cash and short-term investments of $2.00 billion and total debt of $1.39 billion.

Its operations brought in $1.44 billion of cash; capital spending was $363.50 million, leaving free cash flow of $1.08 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

DXCM logo

DexCom, Inc.

DXCMUnited States
Healthcare
USD (Local)

Income Statement

Annual • USD

Total Revenue
4.66B
Prev Year: 4.03B
YoY: +15.6%
Operating Revenue
4.66B
Prev Year: 4.03B
YoY: +15.6%
Normalized EBITDA
1.36B
Prev Year: 945.70M
YoY: +43.7%
Tax Rate for Calcs
0.232
Prev Year: 0
Interest Income
112.70M
Prev Year: 134.20M
YoY: -16.0%
Total Unusual Items
-
Average Dilution Earnings
11.00M
Prev Year: 11.50M
YoY: -4.3%
Equity in Earnings of Affiliates
78.10M
Non-operating Interest Income
112.70M
Prev Year: 134.20M
YoY: -16.0%
Cost of Revenue
1.86B
Prev Year: 1.59B
YoY: +16.6%
Gross Profit
2.80B
Prev Year: 2.44B
YoY: +14.9%
Operating Expense
1.89B
Prev Year: 1.84B
YoY: +2.8%
Selling General and Administrative
1.29B
Prev Year: 1.29B
YoY: +0.4%
Research and Development
599.10M
Prev Year: 552.40M
YoY: +8.5%
Operating Income
911.80M
Prev Year: 600.00M
YoY: +52.0%
Net Non Operating Interest Income Expense
94.40M
Prev Year: 115.20M
YoY: -18.1%
Non-operating Interest Expense
18.30M
Prev Year: 19.00M
YoY: -3.7%
Other Income Expense
82.20M
Prev Year: -6.20M
YoY: +1425.8%
Other Non-operating Income (expense)
4.10M
Prev Year: -6.20M
YoY: +166.1%
Pre-tax Income
1.09B
Prev Year: 709.00M
YoY: +53.5%
Provision for Income Taxes
252.10M
Prev Year: 132.80M
YoY: +89.8%
Net Income Common Stockholders
836.30M
Prev Year: 576.20M
YoY: +45.1%
Net Income
836.30M
Prev Year: 576.20M
YoY: +45.1%
Net Income Including Non-Controlling Interests
836.30M
Prev Year: 576.20M
YoY: +45.1%
Net Income from Continuing Operations
836.30M
Prev Year: 576.20M
YoY: +45.1%
Diluted NI Available to Com Stockholders
847.30M
Prev Year: 587.70M
YoY: +44.2%
Basic EPS
2.14
Prev Year: 1.46
YoY: +46.6%
Diluted EPS
2.09
Prev Year: 1.42
YoY: +47.2%
Weighted Average Shares (basic)
390.20M
Prev Year: 393.60M
YoY: -0.9%
Weighted Average Shares (diluted)
405.50M
Prev Year: 412.70M
YoY: -1.7%
Total Operating Income as Reported
911.80M
Prev Year: 600.00M
YoY: +52.0%
Total Expenses
3.75B
Prev Year: 3.43B
YoY: +9.2%
Net Income from Continuing and Discontinued Operation
836.30M
Prev Year: 576.20M
YoY: +45.1%
Normalized Income
836.30M
Prev Year: 576.20M
YoY: +45.1%
Interest Expense
18.30M
Prev Year: 19.00M
YoY: -3.7%
Net Interest Income
94.40M
Prev Year: 115.20M
YoY: -18.1%
EBIT
1.11B
Prev Year: 728.00M
YoY: +52.0%
EBITDA
1.36B
Prev Year: 945.70M
YoY: +43.7%
Reconciled Cost of Revenue
1.86B
Prev Year: 1.59B
YoY: +16.6%
Reconciled Depreciation
251.80M
Prev Year: 217.70M
YoY: +15.7%
Net Income from Continuing Operation Net Minority Interest
836.30M
Prev Year: 576.20M
YoY: +45.1%
Values in USD

DexCom key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$4.7B$4.0B$3.6B$2.9B$2.4B
Gross profit$2.8B$2.4B$2.3B$1.9B$1.7B
Operating income$911.8M$600.0M$597.7M$391.2M$265.8M
Net income$836.3M$576.2M$541.5M$341.2M$216.9M
Diluted EPS$2.09$1.42$1.30$0.82$0.39
Total assets$6.3B$6.5B$6.3B$5.4B$4.9B
Total liabilities$3.6B$4.4B$4.2B$3.3B$2.9B
Shareholders' equity$2.7B$2.1B$2.1B$2.1B$2.0B
Cash and short-term investments$2.0B$2.6B$2.7B$2.5B$2.7B
Total debt$1.4B$2.6B$2.6B$2.1B$2.2B
Operating cash flow$1.4B$989.5M$748.5M$669.5M$442.5M
Capital spending$363.5M$358.8M$236.6M$364.8M$389.2M
Free cash flow$1.1B$630.7M$511.9M$304.7M$53.3M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was DexCom's revenue in fiscal year 2025?

$4.66 billion, up 15.6% from $4.03 billion in fiscal year 2024.

How much profit does DexCom make?

DexCom reported net income of $836.30 million for fiscal year 2025 (17.9% of revenue); operating income was $911.80 million.

How much cash and debt does DexCom have?

At the end of fiscal year 2025: cash and short-term investments of $2.00 billion and total debt of $1.39 billion.

What is DexCom's free cash flow?

$1.08 billion in fiscal year 2025 (operating cash flow of $1.44 billion minus capital spending of $363.50 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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