2018 Q2 Form 10-Q Financial Statement

#000109355718000159 Filed on August 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $242.5M $170.6M
YoY Change 42.15% 24.25%
Cost Of Revenue $88.90M $53.10M
YoY Change 67.42% 2.51%
Gross Profit $153.6M $117.5M
YoY Change 30.72% 37.43%
Gross Profit Margin 63.34% 68.87%
Selling, General & Admin $111.3M $85.80M
YoY Change 29.72% 23.81%
% of Gross Profit 72.46% 73.02%
Research & Development $47.20M $45.30M
YoY Change 4.19% 24.79%
% of Gross Profit 30.73% 38.55%
Depreciation & Amortization $6.700M $3.900M
YoY Change 71.79% 0.0%
% of Gross Profit 4.36% 3.32%
Operating Expenses $158.5M $131.1M
YoY Change 20.9% 24.15%
Operating Profit -$4.900M -$13.60M
YoY Change -63.97% -32.34%
Interest Expense $4.800M $3.100M
YoY Change 54.84% 3000.0%
% of Operating Profit
Other Income/Expense, Net -$3.400M $1.800M
YoY Change -288.89%
Pretax Income $29.60M -$14.40M
YoY Change -305.56% -28.36%
Income Tax -$600.0K -$17.30M
% Of Pretax Income -2.03%
Net Earnings $30.20M $2.900M
YoY Change 941.38% -114.36%
Net Earnings / Revenue 12.45% 1.7%
Basic Earnings Per Share $0.34 $0.03
Diluted Earnings Per Share $0.34 $0.03
COMMON SHARES
Basic Shares Outstanding 88.20M shares 86.40M shares
Diluted Shares Outstanding 89.40M shares 87.40M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $551.0M $496.6M
YoY Change 10.95% 329.58%
Cash & Equivalents $300.2M $395.9M
Short-Term Investments $250.8M $100.7M
Other Short-Term Assets $21.70M $15.70M
YoY Change 38.22% 80.46%
Inventory $46.20M $42.80M
Prepaid Expenses
Receivables $162.0M $101.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $836.0M $656.8M
YoY Change 27.28% 172.53%
LONG-TERM ASSETS
Property, Plant & Equipment $156.8M $125.0M
YoY Change 25.44% 62.34%
Goodwill $11.90M $11.90M
YoY Change 0.0% 0.85%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.800M $1.900M
YoY Change 47.37% 58.33%
Total Long-Term Assets $171.5M $138.8M
YoY Change 23.56% 51.2%
TOTAL ASSETS
Total Short-Term Assets $836.0M $656.8M
Total Long-Term Assets $171.5M $138.8M
Total Assets $1.008B $795.6M
YoY Change 26.63% 139.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $59.90M $16.80M
YoY Change 256.55% -25.0%
Accrued Expenses $104.1M $86.80M
YoY Change 19.93% 70.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $170.8M $105.1M
YoY Change 62.51% 42.22%
LONG-TERM LIABILITIES
Long-Term Debt $342.3M $327.2M
YoY Change 4.61%
Other Long-Term Liabilities $19.60M $16.30M
YoY Change 20.25% 30.4%
Total Long-Term Liabilities $19.60M $16.30M
YoY Change 20.25% 30.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $170.8M $105.1M
Total Long-Term Liabilities $19.60M $16.30M
Total Liabilities $525.4M $441.9M
YoY Change 18.9% 411.46%
SHAREHOLDERS EQUITY
Retained Earnings -$665.8M -$660.4M
YoY Change 0.82% 11.03%
Common Stock $1.149B $1.016B
YoY Change 13.14% 20.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $482.1M $353.7M
YoY Change
Total Liabilities & Shareholders Equity $1.008B $795.6M
YoY Change 26.63% 139.06%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $30.20M $2.900M
YoY Change 941.38% -114.36%
Depreciation, Depletion And Amortization $6.700M $3.900M
YoY Change 71.79% 0.0%
Cash From Operating Activities $41.40M $14.30M
YoY Change 189.51% -28.86%
INVESTING ACTIVITIES
Capital Expenditures -$10.30M -$12.00M
YoY Change -14.17% 14.29%
Acquisitions
YoY Change
Other Investing Activities -$149.6M -$73.30M
YoY Change 104.09% -8244.44%
Cash From Investing Activities -$159.9M -$85.30M
YoY Change 87.46% 788.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -800.0K 314.4M
YoY Change -100.25% -45014.29%
NET CHANGE
Cash From Operating Activities 41.40M 14.30M
Cash From Investing Activities -159.9M -85.30M
Cash From Financing Activities -800.0K 314.4M
Net Change In Cash -119.3M 243.4M
YoY Change -149.01% 2383.67%
FREE CASH FLOW
Cash From Operating Activities $41.40M $14.30M
Capital Expenditures -$10.30M -$12.00M
Free Cash Flow $51.70M $26.30M
YoY Change 96.58% -14.05%

Facts In Submission

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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 for the treatment of people with 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
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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;">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, convertible debt, employee bonus, clinical trial expenses, allowance for bad debt, refunds, rebates, including pharmacy rebates and self-funded insurance liabilities. </font></div></div>

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