Filing Flows › DexCom (DXCM) › Q3 2025
DexCom (DXCM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
DexCom (DXCM) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), +22% from a year earlier and +5% from the quarter before. Operating margin was 20.1%, net earnings $284M (23.5% of revenue).
DexCom, Q3 2025: revenue $1.2B (+22% year over year), operating margin 20.1%, net earnings $284M, operating cash flow $660M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +5% | +22% |
| Gross profit | $731M | +6% | +23% |
| Operating profit | $242M | +14% | +60% |
| Net earnings | $284M | +58% | +111% |
| Operating cash flow | $660M | +118% | +231% |
| Free cash flow | $579M | +177% | +556% |
What changed
Revenue was $1.2B in Q3 2025, up 22% year over year and up 5% from the previous quarter.
Gross margin was 60.5%, up 0.8 points from a year earlier. Operating profit was $0.24B, a 20.1% margin (up 4.8 points year over year). Of the extra revenue versus a year earlier, 42% reached operating profit, above the 15% margin then. Operating expenses grew 11% against revenue growth of 22%. The fastest-growing cost line was Research & development (+16%). Net earnings were $0.28B, up 111% year over year. The effective tax rate was 19.4%. Non-operating items added $0.11B, 31% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.66B (up 231% year over year), 233% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.27B. Capital expenditures of $0.08B left free cash flow of $0.58B.
Questions
What was DexCom's revenue in the third quarter 2025?
DexCom (DXCM) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), +22% from a year earlier and +5% from the quarter before.
Was DexCom profitable in the third quarter 2025?
Operating profit was $242M (20.1% of revenue) and net earnings $284M.
Source: DexCom 10-Q on SEC EDGAR.