$DXCM · DEXCOM INC
Dexcom reported Q3 FY2026 results with revenue of $1.345B (+11% YoY), GAAP operating income of $327.2M (24.3% margin), and GAAP diluted EPS of $0.72. The company raised FY2026 guidance to $5.20–$5.25B in revenue with ~24% non-GAAP operating margin. Concurrently, the board authorized a $1.0B share repurchase program expiring December 31, 2027.
- Q3 revenue of $1.345B grew 11% YoY on both reported and organic basis
- GAAP operating margin expanded 420 bps YoY to 24.3% of revenue
- FY2026 revenue guidance raised to $5.20–$5.25B (12–13% growth)
- Non-GAAP operating margin guidance raised to ~24% and Adjusted EBITDA margin to ~32%
- Board authorized $1.0B share repurchase program through December 31, 2027
Extended-hours trading shows DXCM at $80.99, up +1.33% vs the regular close of $79.93. The combination of raised full-year guidance and a $1B buyback authorization on a $30.16B market cap is driving a modestly positive after-hours reaction.
Dexcom delivered a rare triple: an earnings beat, a guidance raise across multiple metrics, and a $1B buyback — signaling management confidence in the G7 15 Day product cycle.
Dexcom's margin expansion and guidance raise reinforce its position in the CGM market, with the G7 15 Day extended-wear platform and CONNECT trial data in NEJM providing clinical and competitive differentiation versus Abbott's Libre franchise.
International revenue grew only 5% YoY (organic), lagging U.S. growth of 14%, signaling potential headwinds in ex-U.S. markets. The $1.0B buyback is discretionary and may be modified, suspended, or discontinued at any time.