DexCom (NASDAQ: DXCM) reported Q2 EPS of $0.79, $0.44 better than the analyst estimate of $0.35. Revenue for the quarter came in at $451.8 million versus the consensus estimate of $415.74 million.

Second Quarter 2020 Financial Highlights:

• Revenue grew 34% versus the same quarter of the prior year to $451.8 million
• U.S. revenue growth of 38% and international revenue growth of 21%
• GAAP operating income of $67.8 million or 15.0% of revenue, an increase of 1520 basis points compared to the second quarter of 2019. Non-GAAP operating income* of $76.7 million or 17.0% of revenue, an increase of 1510 basis points over the same quarter of the prior year
• Strengthened balance sheet with successful $1.2 billion convertible note offering

Strategic Highlights:

• Made Dexcom CGM systems available in the U.S. for use in hospitals and other healthcare facilities to assist frontline workers during the COVID-19 pandemic
• Obtained the CE Mark for use of the Dexcom G6 CGM system on the back of the upper arm
• After the conclusion of the quarter, commenced launch of Dexcom G6 Pro CGM system, the first and only single-use, professional CGM available in blinded and unblinded modes

“Our growth in the second quarter reflects the commitment of the Dexcom teams to rapidly adjust during the COVID-19 pandemic and ensure service to our customers and our communities,” said Kevin Sayer, Dexcom’s chairman, president and CEO. “We are pleased to reinstate 2020 guidance as we press forward to bring Dexcom CGM to the many more who stand to benefit from real-time glucose monitoring.”

GUIDANCE:

DexCom sees FY2020 revenue of $1.85 billion, versus the consensus of $1.8 billion.

The company is reinstating guidance for fiscal year 2020 revenue, gross profit, operating margin, and Adjusted EBITDA margin as follows:

• Revenue of approximately $1.850 billion (25% growth)
• Non-GAAP Gross profit margin to meet or exceed 65%
• Non-GAAP Operating margin to meet or exceed 14%
• Adjusted EBITDA margin to meet or exceed 24%
• For earnings history and earnings-related data on DexCom (DXCM) click here.