The company added approximately 500,000 to 600,000 net customers to its worldwide customer base in 2024, excluding customers for the new Stelo product. This growth in customer base is a key driver of revenue increase.

In April 2025, Dexcom received FDA clearance for the Dexcom G7 15 Day CGM System for people over the age of 18 with diabetes in the United States. This expands the company's product offerings and addresses a broader market.

Dexcom plans to develop future generations of technologies that are focused on improved performance and convenience and that will enable intelligent insulin administration. Over the longer term, the company plans to continue to develop and improve networked platforms with open architecture, connectivity and transmitters capable of communicating with other devices.

Management continues to believe that focused investments in research and development are critical to Dexcom's future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to their core business strategy.

In March 2025, Dexcom received an FDA warning letter following inspections of its facilities in San Diego, California, and Mesa, Arizona. The warning letter describes observed non-conformities in manufacturing processes and the quality management system. Management takes the matters identified in the warning letter seriously and has already submitted responses to the Form 483 and to the FDA warning letter.

The company intends to use the remainder of the net proceeds from the 2025 Notes offering and 2028 Notes offering for general corporate purposes and capital expenditures, including working capital needs. They may also use the net proceeds to expand their current business through in-licensing or acquisitions of, or investments in, other businesses, products or technologies.

The company received an FDA warning letter in March 2025 citing deficiencies in manufacturing processes and the quality management system. Failure to satisfy regulatory requirements could result in restrictions, product recalls, or other enforcement actions.

Dexcom is facing securities class action litigation and derivative actions alleging false and misleading statements. The outcome of these proceedings is uncertain and could have a material adverse effect on the company's business and financial condition.

The 2025 Share Repurchase Program does not obligate Dexcom to repurchase any dollar amount or number of shares of their common stock, and the program may be extended, modified, suspended, or discontinued at any time.

The revenue increase was primarily driven by increased sales volume of our disposable sensors due to the continued growth of our worldwide customer base. We added approximately 500,000 - 600,000 net customers, excluding Stelo customers, to our worldwide customer base in 2024.

Dexcom is also pursuing and supporting development partnerships with consumer technology product companies that seek to provide metabolic health insights to their customers.

Dexcom is also exploring how to extend their offerings to other opportunities, including for people with pre-diabetes, people who are obese, people who are pregnant, and people in the hospital setting.

The decrease in gross profit margin percentage in the first quarter of 2025 compared to the first quarter of 2024 was primarily driven by inefficiencies associated with ensuring supply availability, build configurations that lowered production yield, and product and channel mix changes.

The company received an FDA warning letter in March 2025 citing deficiencies in manufacturing processes and the quality management system. Management takes the matters identified in the warning letter seriously and has already submitted responses to the Form 483 and to the FDA warning letter.

Selling, general and administrative expense decreased primarily due to $22.7 million in lower legal expense primarily related to a patent infringement lawsuit that was settled in December 2024.

Dexcom plans to develop future generations of technologies that are focused on improved performance and convenience and that will enable intelligent insulin administration. Over the longer term, the company plans to continue to develop and improve networked platforms with open architecture, connectivity and transmitters capable of communicating with other devices.

Dexcom also intends to expand their efforts to accumulate CGM patient data and metrics and apply predictive modeling and machine learning to generate interactive CGM insights that can inform patient behavior.

In August 2024, Dexcom launched Stelo, their new biosensor designed for adults with prediabetes and Type 2 diabetes who do not use insulin, as the first over-the-counter glucose biosensor in the U.S.

In April 2025, the Board of Directors authorized and approved a share repurchase program of up to $750.0 million of outstanding common stock with a repurchase period ending no later than June 30, 2026.

The company intends to use the remainder of the net proceeds from the 2025 Notes offering and 2028 Notes offering for general corporate purposes and capital expenditures, including working capital needs.

Dexcom expects to incur significant capital expenditures for the next year as they continue to invest in equipment and their manufacturing facilities.

The 10-Q filing does not contain any specific information about environmental, social, or governance (ESG) initiatives undertaken by the company.

Dexcom typically experiences seasonality, with lower sales in the first quarter of each year compared to the immediately preceding fourth quarter. This seasonal sales pattern relates to U.S. annual insurance deductible resets and unfunded flexible spending accounts.

Dexcom will be exposed to additional foreign currency exchange risk related to their international operations as they expand their manufacturing internationally and as their business continues to increase in international markets.