2015 Q4 Form 10-Q Financial Statement

#000109355715000354 Filed on November 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $130.8M $105.2M $69.00M
YoY Change 55.16% 52.46% 60.84%
Cost Of Revenue $39.60M $30.50M $21.80M
YoY Change 59.04% 39.91% 42.48%
Gross Profit $91.20M $74.70M $47.20M
YoY Change 53.54% 58.26% 71.01%
Gross Profit Margin 69.72% 71.01% 68.41%
Selling, General & Admin $61.10M $52.30M $33.70M
YoY Change 68.78% 55.19% 56.02%
% of Gross Profit 67.0% 70.01% 71.4%
Research & Development $28.50M $64.80M $18.50M
YoY Change 31.94% 250.27% 56.78%
% of Gross Profit 31.25% 86.75% 39.19%
Depreciation & Amortization $3.100M $2.700M $2.200M
YoY Change 29.17% 22.73% 29.41%
% of Gross Profit 3.4% 3.61% 4.66%
Operating Expenses $89.60M $117.1M $52.20M
YoY Change 55.02% 124.33% 56.29%
Operating Profit $1.600M -$42.40M -$5.000M
YoY Change 0.0% 748.0% -13.79%
Interest Expense $0.00 $100.0K $200.0K
YoY Change -100.0% -50.0% 0.0%
% of Operating Profit 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $1.600M -$42.50M -$5.200M
YoY Change 14.29% 717.31% -13.33%
Income Tax $100.0K $0.00 $0.00
% Of Pretax Income 6.25%
Net Earnings $1.500M -$42.50M -$5.200M
YoY Change 15.38% 717.31% -13.33%
Net Earnings / Revenue 1.15% -40.4% -7.54%
Basic Earnings Per Share
Diluted Earnings Per Share $18.38K -$528.0K -$68.60K
COMMON SHARES
Basic Shares Outstanding 81.29M shares 80.50M shares 75.80M shares
Diluted Shares Outstanding 80.50M shares 76.10M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.2M $113.3M $74.90M
YoY Change 37.8% 51.27% 57.35%
Cash & Equivalents $86.10M $85.30M $63.20M
Short-Term Investments $29.10M $28.00M $11.70M
Other Short-Term Assets $6.800M $4.000M $2.800M
YoY Change 74.36% 42.86% 12.0%
Inventory $35.20M $30.60M $14.30M
Prepaid Expenses
Receivables $74.10M $55.80M $31.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $231.3M $203.7M $123.4M
YoY Change 58.53% 65.07% 51.04%
LONG-TERM ASSETS
Property, Plant & Equipment $54.70M $46.60M $28.00M
YoY Change 75.32% 66.43% 42.13%
Goodwill $3.700M $3.700M $3.200M
YoY Change 15.63% 15.63% 0.0%
Intangibles $2.200M $2.400M $3.100M
YoY Change -18.52% -22.58% -16.22%
Long-Term Investments
YoY Change
Other Assets $100.0K $300.0K $700.0K
YoY Change -83.33% -57.14% -12.5%
Total Long-Term Assets $60.70M $53.00M $36.00M
YoY Change 56.85% 47.22% 26.76%
TOTAL ASSETS
Total Short-Term Assets $231.3M $203.7M $123.4M
Total Long-Term Assets $60.70M $53.00M $36.00M
Total Assets $292.0M $256.7M $159.4M
YoY Change 58.18% 61.04% 44.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.00M $16.70M $7.900M
YoY Change 91.92% 111.39% 107.89%
Accrued Expenses $44.80M $38.00M $29.80M
YoY Change 61.73% 27.52% 40.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.300M $2.500M $2.300M
YoY Change 0.0% 8.7% 27.78%
Total Short-Term Liabilities $66.90M $58.80M $40.60M
YoY Change 64.78% 44.83% 48.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $400.0K $2.900M
YoY Change -100.0% -86.21% -44.23%
Other Long-Term Liabilities $3.900M $4.200M $900.0K
YoY Change 160.0% 366.67% -67.86%
Total Long-Term Liabilities $3.900M $4.200M $900.0K
YoY Change 160.0% 366.67% -67.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.90M $58.80M $40.60M
Total Long-Term Liabilities $3.900M $4.200M $900.0K
Total Liabilities $70.80M $63.40M $44.40M
YoY Change 59.46% 42.79% 25.42%
SHAREHOLDERS EQUITY
Retained Earnings -$555.4M -$556.9M -$499.1M
YoY Change 11.57% 11.58% 5.56%
Common Stock $776.8M $750.4M $614.1M
YoY Change 21.76% 22.2% 12.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $221.2M $193.3M $115.0M
YoY Change
Total Liabilities & Shareholders Equity $292.0M $256.7M $159.4M
YoY Change 58.18% 61.04% 44.78%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.500M -$42.50M -$5.200M
YoY Change 15.38% 717.31% -13.33%
Depreciation, Depletion And Amortization $3.100M $2.700M $2.200M
YoY Change 29.17% 22.73% 29.41%
Cash From Operating Activities $11.30M $17.90M $11.40M
YoY Change 34.52% 57.02% 612.5%
INVESTING ACTIVITIES
Capital Expenditures -$11.60M -$7.400M -$3.700M
YoY Change 152.17% 100.0% 68.18%
Acquisitions
YoY Change
Other Investing Activities -$1.100M $1.700M -$100.0K
YoY Change 1000.0% -1800.0% -102.56%
Cash From Investing Activities -$12.70M -$5.700M -$3.800M
YoY Change 170.21% 50.0% -323.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.200M 5.400M 6.100M
YoY Change -55.1% -11.48% 221.05%
NET CHANGE
Cash From Operating Activities 11.30M 17.90M 11.40M
Cash From Investing Activities -12.70M -5.700M -3.800M
Cash From Financing Activities 2.200M 5.400M 6.100M
Net Change In Cash 800.0K 17.60M 13.70M
YoY Change -90.7% 28.47% 163.46%
FREE CASH FLOW
Cash From Operating Activities $11.30M $17.90M $11.40M
Capital Expenditures -$11.60M -$7.400M -$3.700M
Free Cash Flow $22.90M $25.30M $15.10M
YoY Change 76.15% 67.55% 297.37%

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100000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2014Q4 us-gaap Other Liabilities Noncurrent
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CY2015Q3 us-gaap Other Liabilities Noncurrent
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4200000 USD
us-gaap Payments For Proceeds From Tenant Allowance
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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500000 USD
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Repayments Of Long Term Debt
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us-gaap Research And Development Expense
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q3 us-gaap Share Based Compensation
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CY2014Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
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us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Organization and Business</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DexCom, Inc. is a medical device company focused on the design, development and commercialization of</font><font style="font-family:inherit;font-size:10pt;"> continuous glucose monitoring (&#8220;CGM&#8221;)</font><font style="font-family:inherit;font-size:10pt;"> systems for ambulatory use by people with diabetes and by healthcare providers in the hospital for the treatment of people with and without diabetes. Unless the context requires otherwise, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; the &#8220;company,&#8221; or &#8220;DexCom&#8221; refer to DexCom, Inc. and its subsidiaries.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with </font><font style="font-family:inherit;font-size:10pt;">U.S. GAAP</font><font style="font-family:inherit;font-size:10pt;"> requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Significant estimates include excess or obsolete inventories, valuation of inventory, warranty accruals, employee bonus, clinical trial expenses, allowance for bad debt, refunds and rebates, including pharmacy rebates and share-based compensation expense. </font></div></div>

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