Dexcom (NSDQ:DXCM) shares are down slightly, a day after fourth-quarter results that were mixed compared to the consensus forecast.
The San Diego-based continuous glucose monitoring technology developer yesterday evening posted losses of $19.4 million, or 20¢ per share, on sales of $698.2 million for the three months ended Dec. 31, 2021, for a bottom-line slide into the red from profits of $355.2 million this time last year despite sales growth of 22.7%.
Adjusted to exclude one-time items, earnings per share were 68¢, 17¢ behind Wall Street, where analysts were looking for sales of $695.6 million.
The company reiterated that it has submitted its next-generation G7 CGM to the FDA in search of 510(k) clearance. Dexcom expects clearance in the near future.
“2021 was another great year for Dexcom, producing record customer growth, an expanded product and software portfolio, and further success in our ongoing campaign to improve global access,” Dexcom Chair, President and CEO Kevin Sayer said in a news release. “With the upcoming launch of G7 and several exciting initiatives planned for 2022, we look forward to another great year ahead.”
Dexcom expects full-year 2022 revenues to range between $2.82 billion and $2.94 billion.
DXCM shares were down slightly at $440.70 per share in morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.
This story originally ran on Feb. 10, 2022. Updated Feb. 11 with the stock price.