DexCom reported second-quarter worldwide revenues of $1.31 billion, up 13% year over year with organic growth of 12%, as U.S. revenues rose 11% to $933 million and international revenues climbed 19% to $375 million. The company's second-quarter gross margin expanded 400 basis points to 64.1%, helped by manufacturing efficiencies and the initial G7 15 Day mix shift, and management remains on track to convert nearly 50% of its U.S. customer base to the G7 15 Day system by year-end. DexCom has submitted evidence from its nearly 300-patient CONNECT trial to CMS and expects a coverage decision by year-end, with implementation targeted for mid-2027; commercial coverage already spans the four largest PBMs, representing more than 7 million non-insulin Type 2 patients. The Zacks Consensus Estimate for 2026 earnings per share has risen 7 cents to $2.64 over the past 60 days, while the consensus for third-quarter revenues is $1.32 billion, an 9.4% improvement, and third-quarter earnings are pinned at 66 cents per share, up 8.2% year over year. Risks include tougher international comparisons in the second half, potential currency headwinds, and limited near-term revenue impact from Stelo and Nutrisense, where incremental non-CGM revenue is only in the low millions.
DexCom IncQ2 revenue rose 13% to $1.31B with gross margin up 400bp to 64.1% on manufacturing efficiencies and G7 15 Day mix, and 2026 EPS estimates were revised up.
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