Dexcom Q3 FY2026: revenue up 11.1%, margin 64.3%, guidance nudged higher
Dexcom beat on both lines and raised full-year revenue guidance again, but the raise is tiny and the implied fourth quarter sits below consensus. Revenue rose 11.1% to $1.34 billion, gross margin reached 64.3% and non-GAAP EPS of $0.73 topped the $0.6874 estimate. Read the scorecard for growth quality, then guidance and the balance-sheet notes for what the headline hides.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $0.72 and non-GAAP $0.73, both above the $0.6874 consensus. The cleaner signal is operating income of $327.2 million, or 24.3% of revenue, up 420 basis points year over year. Note that GAAP net income actually fell 3.1% to $275.1 million, because last year's quarter carried $109.8 million of other income versus $7.5 million now.
Revenue of $1.34 billion was up 11.1% from $1.21 billion a year earlier, with the U.S. adding 14% and international only 5%. The U.S. supplied $969.8 million, or 72.1% of the quarter, so growth is leaning hard on the home market. Organic growth matched reported growth at 11%, so currency is not flattering the number.
Full-year revenue guidance moved to $5.20–$5.25 billion, a $5.23 billion midpoint versus $5.22 billion three months ago — a $10 million nudge, not a reset. Management also raised non-GAAP operating margin guidance to approximately 24% and adjusted EBITDA margin to approximately 32%, while gross margin guidance stayed at approximately 64%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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