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DexCom, Inc. (DXCM) Providing a More Convenient Way to Monitor Glucose Levels
DexCom, Inc. (NASDAQ: DXCM) develops and markets continuous glucose monitoring (CGM) products and tools to help adults and pediatric patients better manage their diabetes. CGM is an FDA-approved technology that provides real-time readings throughout the day and night, allowing for more accurate tracking of glucose levels with as many as 288 readings per day. Utilizing a small sensor just under the skin, the company’s device wirelessly transmits data to an innovative receiver that vividly displays glucose trends and alerts patients when they’re outside of the acceptable range. DexCom currently offers its groundbreaking monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers in hospitals.
The potential market for this technology is extensive. According to a report by the Centers for Disease Control and Prevention, more than 29 million Americans are currently living with diabetes, and it is also the seventh leading cause of death in the United States. In 2012, diabetes and its complications accounted for approximately $245 billion in total medical costs and lost wages.
In the first quarter of 2015, DexCom leveraged this market potential to realize improved financial results. The company’s total revenue for the period was $72.8 million, which was a 55 percent year-over-year increase. Similarly, DexCom realized a 56 percent boost in total gross profit, recording $46.5 million for the quarter.
The company’s dedication to innovation has placed it in a strong strategic position to continue expanding its market presence in the coming months. In April, DexCom introduced a revolutionary app that combined its CGM technology with the convenience of the Apple Watch™. The DexCom G4® PLATINUM Continuous Glucose Monitor System with Share™ is an FDA-approved solution that allows users to discreetly review life-saving glucose data directly from their wrist or iPhone. Earlier this month, the company expanded on this innovation by releasing an Android-compatible version of this technology.
“DexCom aims for optimal convenience and accessibility by providing our patients and their loved ones with access to the most current technology to better manage their diabetes,” Kevin Sayer, chief executive officer of DexCom, stated in a news release.
For prospective investors, the company’s established position within the diabetes management industry should provide a formidable platform to realize improved returns in the years to come. DexCom’s continued commitment to innovation and market growth could open the door for sustainable returns in the future, making the company an intriguing investment opportunity moving forward.
For more information, visit www.dexcom.com
