Filing Flows › DexCom (DXCM) › Q4 2025
DexCom (DXCM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
DexCom (DXCM) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +4% from the quarter before. Operating margin was 25.6%, net earnings $267M (21.2% of revenue).
DexCom, Q4 2025: revenue $1.3B (+13% year over year), operating margin 25.6%, net earnings $267M, operating cash flow $294M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +4% | +13% |
| Gross profit | $793M | +8% | +21% |
| Operating profit | $323M | +33% | +71% |
| Net earnings | $267M | -6% | +76% |
| Operating cash flow | $294M | -55% | -2% |
| Free cash flow | $192M | -67% | +9% |
What changed
Revenue was $1.3B in Q4 2025, up 13% year over year and up 4% from the previous quarter.
Gross margin was 62.9%, up 4.0 points from a year earlier. Operating profit was $0.32B, a 25.6% margin (up 8.7 points year over year). Of the extra revenue versus a year earlier, 92% reached operating profit, above the 17% margin then. Operating expenses grew 1% against revenue growth of 13%. Net earnings were $0.27B, up 76% year over year. The effective tax rate was 21.5%.
Operating cash flow was $0.29B (down 2% year over year), 110% 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 used $0.07B. Capital expenditures of $0.10B left free cash flow of $0.19B.
Questions
What was DexCom's revenue in the fourth quarter 2025?
DexCom (DXCM) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and +4% from the quarter before.
Was DexCom profitable in the fourth quarter 2025?
Operating profit was $323M (25.6% of revenue) and net earnings $267M.
Source: DexCom 10-K on SEC EDGAR.