Dexcom (NSDQ:DXCM) topped expectations on Wall Street this week with its fourth quarter and full-year financial results.
The San Diego, Calif.-based company posted a net loss of -$179.7 million, or -$2.03 per share, on sales of $338 million for the 3 months ended Dec. 31, for sales growth of 52.9% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 54¢, ahead of consensus on The Street, where analysts were looking for sales of $307.5 million.
For full-year results, Dexcom posted a net loss of -$127.1 million on sales of $1.03 billion. The company’s full-year revenues grew by 44% compared to 2017. Analysts were looking for full-year sales of $998.4 million.
“Dexcom achieved several landmark results in 2018, highlighted by the approval and launch of our G6 platform, strong growth that led us beyond $1 billion in annual sales, and an improved profitability profile that culminated in our first positive annual earnings on a non-GAAP basis,” chairman, president & CEO Kevin Sayer said in prepared remarks. “With rising awareness of the benefits of real-time CGM, we are well positioned to continue this momentum in 2019.”
In an SEC filing, Dexcom also revealed that it plans to expand its customer support services and that this would “result in a reduction in certain areas of the company’s domestic workforce” by the end of 2019.
DXCM shares were trading at $138.97 apiece today in mid-morning activity, down -4.9%.
