Filing Flows › DexCom (DXCM) › Q1 2026
DexCom (DXCM) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
DexCom (DXCM) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -5% from the quarter before. Operating margin was 21.4%, net earnings $200M (16.7% of revenue).
DexCom, Q1 2026: revenue $1.2B (+15% year over year), operating margin 21.4%, net earnings $200M, operating cash flow $526M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -5% | +15% |
| Gross profit | $750M | -5% | +27% |
| Operating profit | $255M | -21% | +91% |
| Net earnings | $200M | -25% | +89% |
| Operating cash flow | $526M | +79% | +186% |
| Free cash flow | $449M | +134% | +364% |
What changed
Revenue was $1.2B in Q1 2026, up 15% year over year and down 5% from the previous quarter.
Gross margin was 62.9%, up 6.1 points from Q1 2025. Operating profit was $0.26B, a 21.4% margin (up 8.5 points year over year). Of the extra revenue versus Q1 2025, 78% reached operating profit, above the 13% margin then. Operating expenses grew 9% against revenue growth of 15%. The fastest-growing cost line was SG&A (+13%). Net earnings were $0.20B, up 89% year over year. The effective tax rate was 26.0%.
Operating cash flow was $0.53B (up 186% year over year), 263% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.22B. Capital expenditures of $0.08B left free cash flow of $0.45B.
Questions
What was DexCom's revenue in the first quarter 2026?
DexCom (DXCM) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -5% from the quarter before.
Was DexCom profitable in the first quarter 2026?
Operating profit was $255M (21.4% of revenue) and net earnings $200M.
Source: DexCom 10-Q on SEC EDGAR.