2024 Q1 Form 10-K Financial Statement

#000109355724000021 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $921.0M $1.035B $3.622B
YoY Change 24.21% 26.9% 24.49%
Cost Of Revenue $359.1M $361.3M $1.333B
YoY Change 28.76% 38.96% 29.87%
Gross Profit $561.9M $673.2M $2.289B
YoY Change 21.47% 21.25% 21.55%
Gross Profit Margin 61.01% 65.07% 63.19%
Selling, General & Admin $319.3M $308.8M $1.185B
YoY Change 8.38% 3.69% 18.52%
% of Gross Profit 56.83% 45.87% 51.79%
Research & Development $141.5M $136.1M $505.8M
YoY Change 18.91% 17.02% 4.46%
% of Gross Profit 25.18% 20.22% 22.1%
Depreciation & Amortization $52.50M $52.50M $186.0M
YoY Change 26.2% 44.63% 19.31%
% of Gross Profit 9.34% 7.8% 8.13%
Operating Expenses $460.8M $439.7M $1.691B
YoY Change 10.93% 5.72% 13.36%
Operating Profit $101.1M $233.5M $597.7M
YoY Change 114.19% 67.62% 52.79%
Interest Expense $4.600M $29.80M $20.30M
YoY Change 0.0% 282.05% 9.14%
% of Operating Profit 4.55% 12.76% 3.4%
Other Income/Expense, Net $31.40M -$500.0K $112.7M
YoY Change 43.38% 526.11%
Pretax Income $132.5M $246.2M $710.4M
YoY Change 105.43% 84.83% 81.78%
Income Tax -$13.90M -$10.10M $168.9M
% Of Pretax Income -10.49% -4.1% 23.78%
Net Earnings $146.4M $256.3M $541.5M
YoY Change 201.23% 179.19% 58.7%
Net Earnings / Revenue 15.9% 24.78% 14.95%
Basic Earnings Per Share $0.38 $1.40
Diluted Earnings Per Share $0.36 $0.61 $1.30
COMMON SHARES
Basic Shares Outstanding 385.5M shares 386.4M shares 386.0M shares
Diluted Shares Outstanding 416.7M shares 425.5M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.621B $2.726B $2.724B
YoY Change 2.26% 11.17% 10.91%
Cash & Equivalents $851.2M $566.3M $566.3M
Short-Term Investments $1.770B $2.160B $2.158B
Other Short-Term Assets $40.40M $49.30M $154.7M
YoY Change -6.48% 33.24% -19.68%
Inventory $589.1M $559.6M $559.6M
Prepaid Expenses $59.40M $58.70M
Receivables $978.6M $973.9M $973.9M
Other Receivables $6.200M $13.60M $13.60M
Total Short-Term Assets $4.621B $4.426B $4.426B
YoY Change 22.65% 20.64% 20.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.177B $1.185B $1.185B
YoY Change 9.4% 4.31% 4.31%
Goodwill $23.20M $25.20M
YoY Change -9.73% -1.95%
Intangibles $123.3M $134.5M
YoY Change -24.63% -22.39%
Long-Term Investments
YoY Change
Other Assets $77.70M $75.00M $494.4M
YoY Change 37.28% 59.24% 27.32%
Total Long-Term Assets $1.862B $1.839B $1.839B
YoY Change 6.46% 6.72% 6.72%
TOTAL ASSETS
Total Short-Term Assets $4.621B $4.426B $4.426B
Total Long-Term Assets $1.862B $1.839B $1.839B
Total Assets $6.482B $6.265B $6.265B
YoY Change 17.52% 16.19% 16.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $269.7M $276.4M $276.4M
YoY Change 1.31% 16.18% 16.18%
Accrued Expenses $1.296B $1.254B $1.249B
YoY Change 58.85% 53.13% 53.35%
Deferred Revenue $16.40M $18.40M
YoY Change 70.83% 82.18%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $4.700M
YoY Change -100.0% -99.39%
Total Short-Term Liabilities $1.594B $1.556B $1.556B
YoY Change -14.52% -15.4% -15.4%
LONG-TERM LIABILITIES
Long-Term Debt $2.494B $2.493B $2.493B
YoY Change 98.27% 98.27% 98.27%
Other Long-Term Liabilities $129.4M $125.6M $147.1M
YoY Change -0.23% -2.1% -7.13%
Total Long-Term Liabilities $129.4M $125.6M $2.640B
YoY Change -0.23% -2.1% 86.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.594B $1.556B $1.556B
Total Long-Term Liabilities $129.4M $125.6M $2.640B
Total Liabilities $4.235B $4.196B $4.196B
YoY Change 29.01% 28.71% 28.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.168B $1.021B
YoY Change 120.96% 112.84%
Common Stock $2.511B $3.515B
YoY Change 8.89% 55.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.247B $2.069B $2.069B
YoY Change
Total Liabilities & Shareholders Equity $6.482B $6.265B $6.265B
YoY Change 17.52% 16.19% 16.19%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $146.4M $256.3M $541.5M
YoY Change 201.23% 179.19% 58.7%
Depreciation, Depletion And Amortization $52.50M $52.50M $186.0M
YoY Change 26.2% 44.63% 19.31%
Cash From Operating Activities $209.2M $133.6M $748.5M
YoY Change 34.62% 0.83% 11.8%
INVESTING ACTIVITIES
Capital Expenditures $56.90M $52.50M $236.6M
YoY Change -23.83% -17.32% -35.14%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$2.300M $467.4M $17.60M
YoY Change -457.89% 23.08%
Cash From Investing Activities $74.80M $414.9M -$507.2M
YoY Change -140.06% -313.76% -2.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $662.1M
YoY Change 23.71%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.700M -631.9M -$318.6M
YoY Change -58.04% 63090.0% -42.33%
NET CHANGE
Cash From Operating Activities $209.2M 133.6M $748.5M
Cash From Investing Activities $74.80M 414.9M -$507.2M
Cash From Financing Activities $4.700M -631.9M -$318.6M
Net Change In Cash $284.9M -83.40M -$75.80M
YoY Change -1599.47% 33.23% -81.53%
FREE CASH FLOW
Cash From Operating Activities $209.2M $133.6M $748.5M
Capital Expenditures $56.90M $52.50M $236.6M
Free Cash Flow $152.3M $81.10M $511.9M
YoY Change 88.72% 17.54% 68.0%

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CY2021 us-gaap Increase Decrease In Other Deferred Liability
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2023 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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CY2021Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Debt Conversion Converted Instrument Amount1
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CY2023 dxcm Treasury Stock Value Benefit Received From Note Hedge
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CY2022 dxcm Treasury Stock Value Benefit Received From Note Hedge
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CY2021 dxcm Treasury Stock Value Benefit Received From Note Hedge
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CY2023 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2023 us-gaap Interest Paid Net
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 us-gaap Income Taxes Paid
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CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="border-bottom:1pt dotted #32ad10;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#32ad10;font-family:'Arial',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires us to make certain estimates and assumptions that affect the amounts reported in our consolidated financial statements and the disclosures made in the accompanying notes. Areas requiring significant estimates include rebates, excess or obsolete inventories and the valuation of inventory, accruals for litigation contingencies, and the amount of our worldwide tax provision and the realizability of deferred tax assets. Despite our intention to establish accurate estimates and use reasonable assumptions, actual results may differ from our estimates.</span></div>
CY2023 dxcm Maturity Threshold Of Investments Classified To Cash Equivalents
MaturityThresholdOfInvestmentsClassifiedToCashEquivalents
P90D
CY2022 us-gaap Advertising Expense
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160600000 usd
CY2021 us-gaap Advertising Expense
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CY2023 us-gaap Concentration Risk Credit Risk
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<div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="border-bottom:1pt dotted #32ad10;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#32ad10;font-family:'Arial',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Significant Customers</span></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents, short-term marketable securities, and accounts receivable. We limit our exposure to credit risk by placing our cash and investments with a few major financial institutions. We have also established guidelines regarding diversification of our investments and their maturities that are designed to maintain principal and maximize liquidity. We review these guidelines periodically and modify them to take advantage of trends in yields and interest rates and changes in our operations and financial position.</span></div>
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2022 us-gaap Goodwill Impairment Loss
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CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
40000000.0 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
43200000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
71100000 usd
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 dxcm Number Of Primary Geographic Markets
NumberOfPrimaryGeographicMarkets
2 primarymarket
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3622300000 usd
CY2023 dxcm Revenue Percentage
RevenuePercentage
1
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2909800000 usd
CY2022 dxcm Revenue Percentage
RevenuePercentage
1
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2448500000 usd
CY2021 dxcm Revenue Percentage
RevenuePercentage
1
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3622300000 usd
CY2023 dxcm Revenue Percentage
RevenuePercentage
1
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2909800000 usd
CY2022 dxcm Revenue Percentage
RevenuePercentage
1
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2448500000 usd
CY2021 dxcm Revenue Percentage
RevenuePercentage
1
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1184500000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1135600000 usd
CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
7300000 usd
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5400000 usd
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
7200000 usd
CY2023 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
2000000.0 usd
CY2022 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
2400000 usd
CY2021 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
-1400000 usd
CY2023 dxcm Sec Schedule1209 Valuation Allowancesand Reserves Deduction Writeoffsand Adjustments
SECSchedule1209ValuationAllowancesandReservesDeductionWriteoffsandAdjustments
0 usd
CY2022 dxcm Sec Schedule1209 Valuation Allowancesand Reserves Deduction Writeoffsand Adjustments
SECSchedule1209ValuationAllowancesandReservesDeductionWriteoffsandAdjustments
500000 usd
CY2021 dxcm Sec Schedule1209 Valuation Allowancesand Reserves Deduction Writeoffsand Adjustments
SECSchedule1209ValuationAllowancesandReservesDeductionWriteoffsandAdjustments
500000 usd
CY2023 us-gaap Valuation Allowances And Reserves Recoveries
ValuationAllowancesAndReservesRecoveries
0 usd
CY2022 us-gaap Valuation Allowances And Reserves Recoveries
ValuationAllowancesAndReservesRecoveries
0 usd
CY2021 us-gaap Valuation Allowances And Reserves Recoveries
ValuationAllowancesAndReservesRecoveries
100000 usd
CY2023Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
9300000 usd
CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
7300000 usd
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5400000 usd

Files In Submission

Name View Source Status
dxcm-20231231_cal.xml Edgar Link unprocessable
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dxcm-20231231.htm Edgar Link pending
dxcm-20231231.xsd Edgar Link pending
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