Dexcom Reports 22% Revenue Growth to $1.2 Billion in 2024 Amidst Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Should l Buy DXCM?
Source: Fool
- Significant Revenue Growth: Dexcom's Q3 2024 revenue surged 22% year-over-year to $1.2 billion, indicating strong market demand despite product recall issues, reinforcing the company's leadership in diabetes monitoring.
- Expanding Customer Base: By the end of 2024, Dexcom's customer count reached approximately 2.8 to 2.9 million, with expectations for continued growth in 2025, reflecting the company's success in attracting new users.
- Limited Impact of Recall: Although Dexcom faced a Class 1 recall for 602,445 G7 receivers due to malfunctions, only 112 complaints were reported, indicating that the issue affected a relatively small percentage of the customer base and did not significantly impact overall business performance.
- Huge Market Potential: Dexcom estimates that 4.5 million diabetes patients have yet to adopt CGM technology, and the introduction of the new Stelo product is expected to broaden market coverage, attracting more non-insulin users and prediabetic patients, thereby enhancing the company's growth prospects.
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Analyst Views on DXCM
Wall Street analysts forecast DXCM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DXCM is 84.81 USD with a low forecast of 68.00 USD and a high forecast of 112.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
19 Buy
3 Hold
1 Sell
Strong Buy
Current: 69.890
Low
68.00
Averages
84.81
High
112.00
Current: 69.890
Low
68.00
Averages
84.81
High
112.00
About DXCM
DexCom, Inc. is a medical device company. The Company is primarily focused on the design, development, and commercialization of continuous glucose monitoring (CGM), systems for the management of diabetes and metabolic health by patients, caregivers, and clinicians. Its products include Dexcom G6, Dexcom G7, Stelo, Dexcom Share, and Dexcom ONE. The Company enables people to take control of health through innovative biosensing technology. Dexcom G6 is its integrated continuous glucose monitoring system (iCGM). Stelo is designed specifically for people with type II diabetes who do not use insulin as the first over-the-counter glucose biosensor in the United States. The Dexcom Share remote monitoring system, offered for use with any Dexcom system, uses an app on the patient’s compatible mobile device. Its Dexcom G7 is for adults and children (2+ years) living with type I or type II diabetes who are on any insulin or medications, at risk of hypoglycemia, and those with gestational diabetes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Job Data Expectations: The U.S. is expected to add 60,000 jobs in January, up from 50,000 in December, which could influence the Fed's monetary policy direction amidst ongoing economic uncertainty.
- Inflation Metrics Analysis: The January Consumer Price Index is projected to rise by 0.29% month-over-month and 2.5% year-over-year, showing improvement but still falling short of the Fed's 2% target, potentially affecting investor rate expectations.
- Market Reaction and Risks: Recent signs of labor market weakness, including an ADP report indicating only 22,000 new private sector jobs, may heighten expectations for further Fed rate cuts, although investors remain optimistic about economic resilience.
- Stock Market Rotation Trend: A significant rotation within the stock market is underway, with the Dow Jones Industrial Average rising over 2% this week, reflecting confidence in economic recovery, despite ongoing weakness in tech stocks.
See More
Dexcom Unveils Enhanced Smart Food Logging Features
- Nutritional Tracking Upgrade: Dexcom's Smart Food Logging feature in Stelo integrates a comprehensive nutrition database with over one million food options, allowing users to log meals via text search, barcode scanning, or photos, thereby enhancing their understanding of how food impacts glucose levels and empowering informed dietary choices.
- Positive User Feedback: After 30 days of using Stelo, the majority of users reported positive changes in their dietary and physical activity habits, demonstrating the technology's effectiveness in improving metabolic health management and reinforcing Dexcom's market position in diabetes care.
- Personalized Daily Insights: The redesigned Daily Insights feature will provide personalized recommendations based on users' previous day's glucose, activity, nutrition, and sleep data, helping them reflect and act on their metabolic health insights using behavioral science techniques to enhance health management effectiveness.
- Future Outlook: Dexcom plans to launch a completely reimagined Stelo app later this year, incorporating the latest Smart Food Logging and Daily Insights features, further empowering users in metabolic health management and showcasing the company's ongoing innovation in health technology.
See More
Investigation into DexCom's Corporate Governance Breaches
- Shareholder Rights Investigation: Halper Sadeh LLC is investigating whether certain officers and directors of DexCom, Inc. breached their fiduciary duties, potentially impacting corporate governance and shareholder rights.
- Legal Relief Options: Long-term shareholders of DexCom may seek corporate governance reforms, fund recovery, or court-approved financial awards, enhancing the company's transparency and accountability.
- Importance of Participation: Shareholder involvement can improve company policies and oversight mechanisms, thereby increasing shareholder value and demonstrating the company's commitment to shareholder interests.
- Legal Fee Arrangement: Halper Sadeh LLC will handle the case on a contingent fee basis, meaning shareholders will not incur out-of-pocket legal fees, reducing the financial burden of participation in the rights enforcement process.
See More
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- Signs of Momentum: These stocks are showing signs of renewed momentum, suggesting potential upside for investors.
- Sector Rotation: The leadership in these sectors has already rotated, indicating a shift in market dynamics.
- Investor Consideration: Investors are encouraged to take a fresh look at these stocks as they may present attractive investment options.
See More
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- Investigation Launched: Kaskela Law LLC is investigating potential breach of fiduciary duty claims against DexCom, Inc. (NASDAQ:DXCM) to protect the interests of long-term investors and ensure transparency and compliance in corporate governance.
- Securities Fraud Complaint: A securities fraud complaint filed against DexCom alleges that during the period from April 28, 2023, to July 25, 2024, senior executives made a series of materially false statements, potentially causing significant investor losses.
- Earnings Guidance Cut Impact: On July 25, 2024, DexCom shocked the market by slashing its full-year revenue guidance by $300 million, primarily due to severe underperformance in the Type 2 basal market, leading to a more than 40% drop in stock price to $64.00 per share the following day.
- Shareholder Rights Protection: Kaskela Law encourages current DexCom shareholders who have owned shares since at least April 28, 2023, to contact their attorneys to protect their rights in potential legal actions and ensure accountability from the company's executives.
See More
