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Actionable news in DXCM: DexCom, Inc.,

DexCom: San Diego, Ca - (Business Wire-

The following excerpt is from the company's SEC filing.

November 4, 2015

) - DexCom, Inc. (Nasdaq: DXCM) today reported its unaudited financial results as of and for the quarter ended

September 30, 2015

Third quarter 2015 results:

Total revenue grew to

$105.2 million

quarter of

increase

from the same quarter in

GAAP net loss was

$42.5 million

per basic share for the

, compared to

$5.2 million

per basic share for the same quarter in

Non-GAAP net loss was $6.0 million, or $0.07 per basic share for the

(see the table entitled "Itemized Reconciliat ion Between GAAP and Non-GAAP Net Loss" for a reconciliation of these GAAP and Non-GAAP financial measures)

Gross profit totaled

$74.7 million

, compared to a gross profit of

$47.2 million

The GAAP net loss of

included

$62.1 million

in non-cash expenses, comprised primarily of a $36.5 million research and development charge for the issuance of common stock related to an upfront payment associated with our Collaboration and License Agreement with Google Life Sciences LLC (the “GLS Agreement”) and

$22.6 million

of share-based compensation, compared to the net loss of

, which included

$15.2 million

in non-cash expenses, comprised primarily of share-based compensation. Excluding the $36.5 million research and development charge pursuant to the GLS Agreement, our net loss for the

was $6.0 million, or $0.07 per basic share, which represent non-GAAP financial measures.

Cost of sales

increased

$8.7 million

$30.5 million

$21.8 million

, primarily due to increased volume of product sales. Research and development expense

$46.3 million

$64.8 million

$18.5 million

. Changes in research and development expense included the $36.5 million research and development charge pursuant to the GLS Agreement, additional payroll costs and

$3.3 million

in additional non-cash share-based compensation. Selling, general and administrative expense

$18.6 million

$52.3 million

$33.7 million

, with the change primarily due to additional payroll and marketing costs, and

$4.6 million

in additional non-cash share-based compensation. As of

, the Company had

$113.3 million

in cash, cash equivalents and short-term marketable securities, an increase of $29.7 million from December 31, 2014.

Statement regarding use of non-GAAP financial measures

The Company reports non-GAAP results for net income and net income per basic share in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The Company’s financial measures under GAAP include a substantial non-cash research and development charge pursuant to the GLS Agreement listed in the itemized reconciliation between GAAP and...


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