Dexcom Raises 2026 Revenue Guidance After Third-Quarter Lift

The Tip Desk · October 30, 2026 · 3 min read

The glucose-monitoring company lifted the midpoint of fiscal 2026 revenue to $5.20 billion to $5.25 billion after worldwide sales reached $1.344 billion.

DexCom, Inc. (DXCM) raised the midpoint of its fiscal 2026 revenue outlook to $5.20 billion to $5.25 billion, or approximately 12% to 13% growth, after worldwide sales of $1.344 billion in the quarter ended September 30, 2026.

The glucose-monitoring company also increased fiscal 2026 Non-GAAP operating-margin guidance to approximately 24% from a prior range of 23.5% to 24%, and lifted Adjusted EBITDA-margin guidance to approximately 32% from 31.5% to 32%. It reiterated Non-GAAP gross-profit-margin guidance at approximately 64%.

Year-over-year revenue growth slowed to 11% from 13% in the second quarter and 15% in the first quarter. Organic revenue was $1.346 billion, excluding $1.7 million of foreign-exchange impact and $0.7 million of acquired non-CGM revenue.

The mix shifted toward the United States. U.S. revenue grew 14% year-over-year, up from 11% in the second quarter, while international revenue growth slowed to 5% from 19%. U.S. sales were $969.8 million and international sales $374.7 million. Distributor-channel revenue was $1.148 billion and direct-channel revenue $196.5 million.

GAAP operating income was $327.2 million, or 24.3% of revenue, up from $242.5 million, or 20.1% of revenue, a year earlier. The GAAP operating margin matched the second-quarter rate after expanding from 21.4% in the first quarter. Non-GAAP operating income was $339.5 million, or 25.3% of reported revenue, compared with $272.9 million, or 22.6% of reported revenue, a year earlier.

GAAP gross profit was $864.4 million, or 64.3% of revenue, compared with $731.4 million, or 60.5% of revenue, a year earlier. Non-GAAP gross profit was $875.3 million, or 65.1% of reported revenue.

GAAP net income was $275.1 million, or $0.72 a share, compared with $283.8 million, or $0.70 a share, a year earlier. Non-GAAP net income was $275.0 million, or $0.73 a share, compared with $242.5 million, or $0.61 a share. Non-GAAP results excluded $11.9 million of amortization of intangible assets, $0.4 million of business-transition and other significant items, and $12.4 million of tax adjustments.

President and CEO Jake Leach said the company continued to build momentum, delivering revenue growth and margin progression, strengthening clinical evidence, and advancing product and operational initiatives. The company said the performance enabled it to raise full-year revenue and operating-margin guidance.

Subsequent to the quarter, Dexcom published the CONNECT randomized clinical trial in The New England Journal of Medicine, which it said showcased outcomes driven by Dexcom G7 for people with Type 2 diabetes not on insulin. It launched a redesigned Stelo experience and advanced the U.S. rollout of the Dexcom G7 15 Day System, securing the first two international regulatory clearances for that platform.

The company announced a share-repurchase authorization of up to $1.0 billion in conjunction with third-quarter results. Cash, cash equivalents and marketable securities were $1.82 billion as of September 30, 2026, down from $2.42 billion as of March 31, 2026. The revolving credit facility remained undrawn.