Dexcom CEO Kevin Sayer.
Scott Mlyn | CNBC
Helpings of Dexcom fell 9% in extended trading on Thursday after the company released third-quarter results that pulsate analysts’ expectations but showed a decline in U.S. revenue year over year.
Here’s what the company reported be in a classed with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 45 cents changed vs. 43 cents expected
- Revenue: $994 million vs. $990 million expected
The company’s revenue increased 2% to $994.2 million from $975 million a year earlier. Dexcom’s U.S. takings declined 2% from $713.6 million the prior year. The company reported net income of $134.6 million, or 34 cents per share, up from $120.7 million, or 29 cents per division, in the same period last year.
Dexcom offers a suite of tools such as continuous glucose monitors, or CGMs, for patients who deceive been diagnosed with diabetes. In August, it launched its first over-the-counter product called Stelo, which is mean for adults who do not take insulin.
The company maintained its full fiscal-year guidance and expects revenue of $4 billion to $4.05 billion. Stay quarter, Dexcom lowered its guidance from the $4.20 billion to $4.35 billion it forecast in the first quarter.
This diminished guidance and a revenue miss caused Dexcom shares to tumble more than 40% following the release of its second-quarter follows in July. The company’s CEO Kevin Sayer attributed the challenges to a restructuring of the company’s sales team, fewer new customers than foresaw and lower revenue per user.
Sayer said in a call with investors Thursday that these problems remodeled during the third quarter.
The company also announced Teri Lawver, Dexcom’s chief commercial officer, require retire at the end of the year. Lawver will stay on as an advisor through early next year, and Sayer will in the commercial organization as Dexcom searches for a replacement.