Shares in Dexcom (NSDQ:DXCM) are steady in after-hours trading today after the diabetes-focused device maker posted first quarter 2019 earnings that topped loss-per-share and sales expectations.
The San Diego-based company posted losses of $26.9 million, or 30¢ per share, on sales of $280.5 million for the three months ended March 31, seeing losses grow 11.2% while sales grew a significant 52.1% compared with the same period during the previous year.
After adjusting to exclude one-time items, losses per share were 5¢, well ahead of the 16¢ loss-per-share consensus on Wall Street. Analysts also expected to see sales of approximately $246.4 million, which the company topped by more than $30 million.
“Dexcom is off to a great start in 2019, with our growth testifying to the rising awareness and excitement around real-time CGM and Dexcom’s new G6 technology. Given the strength of our performance thus far, we are pleased to raise our full-year growth outlook,” prez & CEO Kevin Sayer said in a press release.
Dexcom updated its guidance for the full fiscal year 2019, now expecting to see sales of between $1.25 billion and $1.3 billion with a non-GAAP operating margin of approximately 6%.
Shares in Dexcom fell 2% today to $118.62 before posting its earnings, and have not moved in after-hour trading as of 4:26 p.m. EDT.
In February, Dexcom said that it won Health Canada approval for its G6 continuous glucose monitoring system for people with diabetes ages two and up.
