DXCM - DexCom stock down ~7% after hours as Q2 results miss expectations
- DexCom ( NASDAQ: DXCM ) stock fell 7.1% to $80.85 after hours Thursday, as the diabetes medical device maker reported Q2 earnings that missed estimates.
- DXCM posted Q2 non-GAAP EPS of $0.17 which missed expectations by $0.02. Its Q2 revenue of $696.2M also missed by $13.13M.
- The company also tightened its FY 2022 revenue guidance range. It now expects FY 2022 revenue of about $2.86B to $2.91B, from a previous forecasted range of $2.82B to $2.94B. The consensus revenue estimate for FY is $2.93B.
- The company reiterated its previous guidance for FY 2022 non-GAAP gross profit margin, non-GAAP operating margin and adj. EBITDA margin.
- DexCom's ( DXCM ) net income narrowed from a year ago, as quarterly total operating expenses rose 17.8% Y/Y to $372.5M.
- However, Q2 revenue grew 17% Y/Y, helped by volume growth in conjunction with "strong new customer additions," DXCM said in the earnings report .
- DexCom ( DXCM ) stock has lost 35.2% YTD.
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DexCom stock down ~7% after hours as Q2 results miss expectations