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DexCom, Inc. Reports First Quarter 2016 Financial Results

SAN DIEGO, Apr 27, 2016 (BUSINESS WIRE) -- DexCom, Inc. DXCM, -2.02% today reported its unaudited financial results as of and for the quarter ended March 31, 2016.

First Quarter 2016 results:

Revenue grew to $116.2 million for the first quarter of 2016, an increase of 60% from the $72.8 million in revenue for the same quarter in 2015. Gross profit totaled $75.1 million for the first quarter of 2016, compared to a gross profit of $46.5 million for the same quarter in 2015. Net loss was $19.2 million, or $0.23 per share for the first quarter of 2016, compared to $12.9 million, or $0.17 per share for the same quarter in 2015. The net loss of $19.2 million for the first quarter of 2016 included $28.6 million in non-cash expenses, comprised primarily of share-based compensation, depreciation and amortization, compared to the net loss of $12.9 million for the same quarter of 2015, which included $18.7 million in non-cash expenses.

Cost of sales increased $14.8 million to $41.1 million for the first quarter of 2016 compared to $26.3 million for the same quarter in 2015, primarily due to an increased sales volume, and partially due to increased warranty costs. Research and development expense increased by $12.4 million to $32.2 million for the first quarter of 2016 compared to $19.8 million for the first quarter of 2015. Changes in research and development expense included additional payroll costs and $3.1 million in additional non-cash share-based compensation. Selling, general and administrative expense increased by $22.7 million to $62.1 million for the first quarter of 2016 compared to $39.4 million for the first quarter of 2015, with the change primarily due to additional payroll and marketing costs, and $5.0 million in additional non-cash share-based compensation. As of March 31, 2016, DexCom had $106.5 million in cash, cash equivalents and short-term marketable securities.

Conference Call

Management will hold a conference call today starting at 4:30 p.m. (Eastern Time). The conference call will be concurrently webcast. The link to the webcast will be available on the DexCom, Inc. website at www.dexcom.com by...


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