) reported a narrower loss of $6.0 million or 8 cents per share
in the third quarter of the year compared with $17.3 million or
25 cents in the comparable quarter of 2012 as well as the Zacks
Consensus Estimate of a loss of 13 cents.
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DEXCOM INC (DXCM): Free Stock Analysis Report
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DexCom's total revenue surged 85.7% to $42.9 million, topping the
Zacks Consensus Estimate of $36.0 million, on product revenues
that more than doubled to $42.5 million from $21.1 million a year
ago. Meanwhile, development grant and other revenues plunged
80.0% to $0.4 million from $2.0 million in the prior year
Product gross profit more than tripled to $27.7 million in the
quarter from $7.7 million in the third quarter of 2012. Total
gross profit increased in the same magnitude to $27.6 million
from $8.4 million a year ago while gross margin improved
significantly to 64.3% from 36.4% in the 2012-quarter.
Product cost of sales rose 10.4% to $14.8 million from $13.4
million for the third quarter in 2012, driven by higher volume of
product sales. Total cost of sales grew 4.1% to $15.3 million
from $14.7 million for the third quarter of 2012.
Research and development expenses increased 14.6% to $11.8
million from $10.3 million in the third quarter of 2012. Selling,
general and administrative expense soared 40.3% to $21.6 million
from $15.4 million a year ago, due to additional payroll costs,
share-based compensation and commissions.
DXCM had cash and cash equivalents of $33.4 million as of Sep 30,
2013, significantly up from $8.1 million as of Dec 31, 2012.
Total debt remained flat at $7.0 million as of Sep 30, 2013
compared with the same as of Dec 31, 2012.
Calif.-based DexCom, Inc. is a medical device company focused on
the design, development and commercialization of continuous
glucose monitoring systems. The company relies significantly on
its base of recurring revenue which reflects increasing usage
rate with existing patients. Thus, higher patient base will
bolster top-line for DexCom.
DXCM currently retains a Zacks Rank #3 (Hold). Currently, other
medical stocks that are performing well in the medical
instruments industry include
Natus Medical Inc.
). All of them carry a Zacks Rank #1 (Strong Buy).