Dexcom reported losses of $42.5 million, or 53¢ per share, on sales of $105.2 million for the 3 months ended September 30, 2015.
That amounts to a 700%+ increase in losses from last year, while sales have grown 52.5% compared to 2014. Adjusted to exclude 1-time items, losses per share were 7¢, off from the Street’s positive expectations of 8¢ earnings per share.
Shares in Dexcom has slipped slightly dropping 3.7% to trade at $83.83 as of 1:58 p.m. EST.
“We’re very proud of our accomplishments. We see an amazing future, and we will not rest until we achieve these goals. This quarter we added an amazing partner in Google that’s going to help us ultimately develop the products and analytical tools to achieve the outcomes that years ago we would have only dreamed of,” CEO Kevin Sayer said during an earnings conference call. “We’re executing the plans we’ve described all year. Our revenues are growing robustly. We continue to add record numbers of new patients. Our cash-based operating results are improving at a much faster pace, but we are fully committed to making the investments necessary to get this company to more than $1 billion in revenues in a very short period of time much, much faster than I ever would have thought when I came here four years ago.”
The company updated its guidance, saying it was slated to be in the top end of the range it had previously set.
“And consistent with past practices, we take this opportunity to update our full-year revenue guidance. We are now comfortable that our revenue for the full year will exceed the top end of our range of $375 million,” strategy & corporate development exec veep Steven Pacelli said in an earnings call.
Last month, Dexcom released preliminary revenues for its 3rd quarter of approximately $105 million, sending shares up nearly 20%.
The prelims put DexCom nearly $8 million ahead of street expectations, which guessed the company would bring in $97 million for the quarter. The number is also up $36 million, or 52% from the same quarter last year.
The news sent shares skyward, gaining 19.4% to $84.35 upon closing on October 15.