Dexcom (NSDQ:DXCM) beat expectations on Wall Street yesterday with its first-quarter results, topping analysts’ sales estimates by $12.3 million.
The San Diego, Calif.-based company posted a net loss of -$24.2 million, or -28¢, on sales of $184.4 million for the three months ended March 31, for bottom-line growth of 42% on sales growth of 30% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -32¢, a penny ahead of consensus on The Street, where analysts were looking for sales of $172.1 million.
“Dexcom is off to a solid start in 2018. Revenue growth remained strong in Q1, carrying the momentum we saw exiting last year, and the company demonstrated good expense control,” president & CEO Kevin Sayer said in prepared remarks.
Dexcom said it expects to post sales of $850 million to $860 million for the full year, up from the prior range of $830 million to $850 million.
DXCM shares were trading at $78.00 apiece today in premarket activity, up 5%.
In March, Dexcom won FDA approval for its latest continuous glucose monitor. The G6 system is the first of the company’s that does not require a finger-prick for calibration and is also cleared as “fully interoperable” with other medical devices, like insulin pumps and decision support software.
“This Gen 6 system brings to fruition all that I envisioned when I first saw a sensor in the 90’s,” Sayer told Drug Delivery Business News.
