A fixed rule set over this filing's XBRL figures and the number of high-severity risks found in it — no model judgement.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
DexCom delivered strong financial results in Q2 FY2026, driven by a 13.1% YoY revenue increase to $1.31B and a 49.7% boost in operating income, backed by expanding gross margins and robust customer adoption.
Revenue
$1.31B
+13.08% YoY
EPS (Diluted)
$0.64
+42.22% YoY
Gross Margin
63.4%
+3.9 pts YoY
Operating Income
$318.3M
+49.72% YoY
Filed · Source: SEC EDGAR 10-Q filing
Dexcom (DXCM) reported Q2 FY2026 revenue of $1.31B, up 13.1% year over year. The company posted net income of $249.1M, up 38.5% from a year earlier, with diluted EPS of $0.64. Gross margin was 63.4%. Operating income was $318.3M, up 49.7% year over year. DXCM's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
DXCM delivered strong Q2 FY2026 results with $1.31B in revenue (+13.1% YoY) and $249.1M net income (+38.5% YoY), driven by CGM demand and gross margin expansion.
Last 4 quarters: 3 beats, 1 miss
Adjusted (non-GAAP) EPS of $0.70 versus the $0.62 analyst consensus — a +12.5% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.64.
Total revenue grew 13.1% YoY to $1.31B in Q2 FY2026, supported by U.S. revenue of $933.4M and International revenue of $375.0M. Growth was primarily driven by higher sales volumes of disposable sensors across a expanding customer base and favorable payor mix per customer.
Source: 10-Q Item 2 MD&A
Gross profit increased 20.5% YoY to $830.0M, with gross margin widening to 63.4% from 59.5% in Q2 FY2025. Margins expanded due to G7 15 Day rollouts, improved manufacturing efficiencies, and fixed-cost absorption, despite charges related to the planned discontinuation of G6 manufacturing.
Source: 10-Q Item 2 MD&A
Operating income rose to $318.3M (up 49.7% YoY) as operating expenses grew only 7.5% YoY to $511.7M. SG&A increased 9.4% to $358.7M due to higher advertising and marketing investments, while R&D expenses remained flat at $153.0M due to project timing.
Source: 10-Q Item 2 MD&A
Dexcom ended Q2 FY2026 with $1.95B in cash, cash equivalents, and marketable securities, generating $794.8M in cumulative YTD operating cash flow. The company authorized a $1.00B share repurchase program in May 2026 and executed $603.6M in share buybacks during the first six months of FY2026.
Source: 10-Q Item 2 MD&A
The company authorized a new $1.00B share repurchase program through June 30, 2027, but repurchases are discretionary and cannot guarantee enhanced long-term share value. Execution under the program could increase stock price volatility or consume significant liquidity required for operational growth.
Source: 10-Q Item 1A Risk Factors
Dexcom's Amended Credit Agreement matures on October 13, 2026, with total liquidity availability of $191.3M. Failure to extend or refinance this credit facility on favorable terms could impact short-term liquidity flexibility.
Source: 10-Q Item 2 MD&A
As international business expands ($375.0M revenue in Q2 FY2026), foreign currency exposure created $10.3M in net foreign currency losses in Q2 FY2026, creating potential earnings volatility from currency fluctuations.
Source: 10-Q Item 2 MD&A
This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.
See the DXCM earnings preview — expected date, analyst estimates and what to watch →
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $1.31B | $1.16B | +13.08% |
Cost of Revenue | $478.4M | $468.3M | +2.16% |
Gross Profit | $830M | $688.8M | +20.50% |
Operating Income | $318.3M | $212.6M | +49.72% |
Net Income | $249.1M | $179.8M | +38.54% |
EPS (Basic) | $0.65 | $0.46 | +41.30% |
EPS (Diluted) | $0.64 | $0.45 | +42.22% |
R&D Expense | $153M | $148.2M | +3.24% |
SG&A Expense | $358.7M | $328M | +9.36% |
In Q2 FY2026, DXCM generated $1.31B in revenue (up 13.1% YoY) and achieved a net income of $249.1M (up 38.5% YoY). Diluted EPS grew 42.2% YoY to $0.64, supported by an expanding gross margin of 63.4%.
Dexcom authorized a new $1.00B share repurchase program in May 2026 and spent $603.6M on common stock buybacks during the first six months of FY2026, repurchaseing 8.6 million shares.
DXCM's gross margin increased to 63.4% from 59.5% in Q2 FY2025. The expansion was primarily driven by higher sales volumes, production efficiencies from the G7 product line, and better fixed cost absorption.
Expected release date, analyst estimates & what to watch
DexCom delivered a strong Q1 FY2026 with revenue rising 15.0% YoY to $1.19B, gross margin expanding 610 bps to 62.9%, and operating income nearly doubling to $255.3M, reflecting significant operational leverage.
DexCom delivered strong FY2025 results with revenue growing 15.6% to $4.66B, operating income surging 52% to $911.8M, and net income rising 45.1% to $836.3M, reflecting significant operating leverage and improved profitability.
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