EarningsQ2 2026 Earnings Report
MX:DXCM Q2 2026 EPS Results
Actual EPS$12.71
Consensus EPS$11.10
Beat/MissBeat by +$1.62
One Year Ago EPS$8.72
MX:DXCM Q2 2026 Revenue Results
Actual Revenue$23.76B
Expected Revenue$23.43B
Beat/MissBeat by +$328.38M
YoY Revenue Growth+13.08%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:DXCM Upcoming Earnings
Dexcom's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:DXCM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial message: double-digit revenue growth, substantial margin expansion (400 bps YoY), strong cash generation, successful product rollouts and encouraging clinical data (CONNECT) that is driving payer coverage momentum. Near-term headwinds include FX impact, Ireland manufacturing ramp costs, tougher international comps in the back half, and remaining uncertainties around Medicare coverage terms and timing. Overall, achievements and momentum on growth, margins, cash flow, product adoption and clinical evidence substantially outweigh the manageable near-term challenges.Company Guidance
Revenue Growth
Worldwide revenue of $1.31 billion in Q2 FY26, up 13% year-over-year (reported) and 12% organic; U.S. revenue $933 million (+11% YoY); International revenue $375 million (+19% reported, +16% organic).
Margin and Profit Expansion
Gross profit $838.5 million with gross margin of 64.1% vs 60.1% in prior-year quarter (+400 bps). Operating income $328.3 million (25.1% of revenue) vs $221.8 million (19.2% prior year). Adjusted EBITDA $421.3 million (32.2% of revenue) vs $327.6 million (28.3% prior year).
Net Income and Cash Generation
Net income $269.1 million, $0.70 per share, representing 46% growth vs Q2 FY25. Closing cash and equivalents approximately $1.9 billion; free cash flow >$600 million in 1H FY26 (more than double 1H FY25).
Product Momentum and Adoption
Strong field execution and product performance with rising G7 Net Promoter Scores for three consecutive quarters; company on track to convert nearly 50% of U.S. customer base to G7 15-day system by year-end and Health Canada cleared G7 15-day for Canada H2 FY26.
Clinical Evidence: CONNECT Trial
CONNECT (randomized, ~300 participants, 6 months) showed a 1.6% A1C improvement in the Dexcom CGM arm and a 0.9% A1C difference versus control; Dexcom arm spent >5 additional hours/day in normal glucose range; median wear 97% over 26 weeks; largest relative A1C improvement in GLP-1 cohort.
Real-World Outcomes and Reimbursement Progress
CVS collaboration real-world evidence: 66% reduction in diabetes-related hospitalizations over 3 years and ~50% reduction in microvascular complications after CGM initiation. Coverage achieved for all people with diabetes across the four largest commercial PBMs, representing reimbursement for >7 million type 2 non-insulin lives.
Capital Allocation and Strategic Moves
Announced $1 billion share repurchase authorization for 2026 and repurchased ~ $600 million in Q2; completed acquisition of Nutrisense to enhance CGM-driven nutrition/insights and incorporated associated P&L in guidance.
MX:DXCM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed