DXCMDexcom
We are a medical device company primarily focused on the design, development and commercialization of continuous glucose monitoring, or CGM, systems for the management of diabetes and metabolic health by patients, caregivers, and clinicians around the world. 10-K, Item 1
- Employees
- 11,100
- Headquarters
- San Diego, CA
- CEO
- Jacob Steven Leach
- Next results
- around Jan 11, 2027
The biggest changes in the 10-K filed 2026-02-12, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
14.9% → 19.6% (+4.7 pts) Big change FY to 2025-12-31 vs 2024-12-31“Research and development expense Research and development expense increased primarily due to $37.3 million in higher compensation and related costs.”
Read it in the 10-K ↗
Cash from operations
+45.6% Big change FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Net income
+45.1% Big change FY to 2025-12-31 vs 2024-12-31“Other income, net Other income, net, increased primarily due to $79.5 million in higher net gains on equity investments and $8.7 million in higher net foreign currency gains, offset by $21.5 million in lower interest and dividend income on our cash, cash equivalents, and marketable securities portfolio.”
Read it in the 10-K ↗
“The increase in our effective tax rate for the twelve months ended December 31, 2025 compared to the same period in 2024 is primarily attributable to impacts of shortfalls on share-based compensation, a non-recurring benefit related to the Verily milestone payment during 2024, offset by the tax benefit related to the commencement of our Malaysia tax holiday.”
Read it in the 10-K ↗
Revenue
+15.6% Big change FY to 2025-12-31 vs 2024-12-31“Revenue The revenue increase was primarily driven by increased sales volume of our disposable sensors due to the continued growth of our worldwide customer base.”
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Gross margin
60.5% → 60.1% (-0.4 pts) FY to 2025-12-31 vs 2024-12-31“Cost of sales & Gross profit Cost of sales and gross profit increased primarily due to an increase in sales volume driven by the addition of approximately 600,000 - 700,000 net customers, excluding Stelo customers, to our worldwide customer base in 2025.”
Read it in the 10-K ↗
“The decrease in gross profit margin percentage in 2025 compared to 2024 was primarily driven by inefficiencies associated with ensuring supply availability, build configurations that lowered production yield, and total replacement costs.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on DXCM in a spreadsheet:
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