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shares Dexcon The diabetes management company fell more than 35% in extended trading Thursday after the diabetes management company reported disappointing earnings. second season and provided weak guidance.
Here’s what the company does:
- Earnings per share: Adjusted for 43 cents, vs. LSEG forecast of 39 cents
- income: US$1 billion, compared with LSEG's forecast of US$1.04 billion
Dexcom's revenue increased 15% from $871.3 million a year earlier, according to a press release. The company reported net profit of $143.5 million, up from $115.9 million in the same period last year.
Dexcom expects third-quarter revenue to be in the range of $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 $4.0 billion and $4.05 billion, down from its forecast of $4.2 billion to $4.35 billion last season.
“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 leverage our differences to With a comprehensive product portfolio serving millions of customers around the world, we are taking actions to improve execution and best position ourselves for continued long-term growth.”
Dexcom offers a suite of tools, such as continuous glucose monitors, for patients diagnosed with diabetes. In March, the company announced new An over-the-counter CGM called Stelo is approved for use by the U.S. Food and Drug Administration. Stelo is designed for people with type 2 diabetes who don't take insulin, and Dexcom said Thursday it will be officially launched in August.