Dexcom Reports 22% Revenue Growth to $1.2 Billion in 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Source: NASDAQ.COM
- Significant Revenue Growth: In Q3 2024, Dexcom reported a 22% year-over-year revenue increase to $1.2 billion, indicating strong product demand despite regulatory challenges and reinforcing the company's leadership in the diabetes monitoring market.
- Expanding Customer Base: By the end of 2024, Dexcom's customer count reached approximately 2.8 to 2.9 million, with expectations for continued growth in 2025, reflecting the company's success in attracting new users.
- Large Market Opportunity: Dexcom estimates that around 4.5 million diabetes patients have yet to adopt CGM technology, highlighting significant untapped market potential, especially as insurance coverage continues to expand, paving the way for future growth.
- Product Innovation Advancement: In 2024, Dexcom received approval for Stelo, an over-the-counter CGM option for non-insulin patients and those with prediabetes, further broadening its market reach and enhancing the company's competitive edge.
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Analyst Views on DXCM
Wall Street analysts forecast DXCM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DXCM is 84.81 USD with a low forecast of 68.00 USD and a high forecast of 112.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
19 Buy
3 Hold
1 Sell
Strong Buy
Current: 73.360
Low
68.00
Averages
84.81
High
112.00
Current: 73.360
Low
68.00
Averages
84.81
High
112.00
About DXCM
DexCom, Inc. is a medical device company. The Company is primarily focused on the design, development, and commercialization of continuous glucose monitoring (CGM), systems for the management of diabetes and metabolic health by patients, caregivers, and clinicians. Its products include Dexcom G6, Dexcom G7, Stelo, Dexcom Share, and Dexcom ONE. The Company enables people to take control of health through innovative biosensing technology. Dexcom G6 is its integrated continuous glucose monitoring system (iCGM). Stelo is designed specifically for people with type II diabetes who do not use insulin as the first over-the-counter glucose biosensor in the United States. The Dexcom Share remote monitoring system, offered for use with any Dexcom system, uses an app on the patient’s compatible mobile device. Its Dexcom G7 is for adults and children (2+ years) living with type I or type II diabetes who are on any insulin or medications, at risk of hypoglycemia, and those with gestational diabetes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Kaskela Law Investigates Potential Fiduciary Breach at DexCom
- Investigation Launched: Kaskela Law LLC is investigating potential breach of fiduciary duty claims against DexCom, Inc. (NASDAQ:DXCM) to protect the interests of long-term investors and ensure transparency and compliance in corporate governance.
- Securities Fraud Complaint: A securities fraud complaint filed against DexCom alleges that during the period from April 28, 2023, to July 25, 2024, senior executives made a series of materially false statements, potentially causing significant investor losses.
- Earnings Guidance Cut Impact: On July 25, 2024, DexCom shocked the market by slashing its full-year revenue guidance by $300 million, primarily due to severe underperformance in the Type 2 basal market, leading to a more than 40% drop in stock price to $64.00 per share the following day.
- Shareholder Rights Protection: Kaskela Law encourages current DexCom shareholders who have owned shares since at least April 28, 2023, to contact their attorneys to protect their rights in potential legal actions and ensure accountability from the company's executives.
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