Dexcom (DXCM) FY2020 results: revenue $1.9 billion, up 30.5% on the year
Dexcom Inc. (DXCM) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 December 2020, up 30.5% on the year before. Net income was $550 million, up 443.7%, and diluted earnings per share $1.33. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$1.9 billion
+30.5% on the year
FY2013FY2020
Operating margin
15.5%
9.6% a year earlier
FY2013FY2020
Net income
$550 million
+443.7% on the year
FY2013FY2020
Diluted EPS
$1.33
+20.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,927
1,476
1,032
+30.5%
Cost of revenue
647
544
368
+18.8%
Gross profit
1,280
932
664
+37.4%
Gross margin
66.4%
63.1%
64.4%
Research and development
360
274
200
+31.6%
Selling, general and administrative
618
516
433
+19.9%
Operating income
300
142
-186
+110.5%
Operating margin
15.5%
9.6%
-18.1%
Interest expense
17.7
60.3
22.7
-70.6%
Pre-tax income
298
104
-126
+185.9%
Income tax
-252
3.1
0.6
Effective tax rate
-84.5%
3.0%
n/a
Net income
550
101
-127
+443.7%
Net margin
28.5%
6.8%
-12.3%
Diluted EPS
$1.33
$1.10
-$1.44
+20.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
476
314
123
+51.2%
Capital expenditure
199
180
67.1
+10.6%
Free cash flow
277
134
56.1
+105.7%
Free cash flow margin
14.4%
9.1%
5.4%
Cash from investing
-1,018
-1,015
-140
Cash from financing
912
10.7
710
+8,424.3%
Depreciation and amortisation
67.1
48.7
29.1
+37.8%
Share-based compensation
119
103
102
+16.3%
Buybacks
0.0
0.0
100
Diluted shares, weighted
420m
92m
88m
+355.5%
Shares outstanding at period end
96m
92m
90m
+4.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,552
883
663
+75.8%
Non-controlling interest
275
n/a
n/a
Debt
1,667
1,060
1,010
+57.3%
Operating lease liabilities
102
72.4
0.0
+40.6%
Finance lease liabilities
54.0
14.4
n/a
+275.0%
Other liabilities
641
366
242
+75.2%
Total liabilities and equity
4,290
2,395
1,916
+79.1%
Fixed assets
515
321
183
+60.4%
Goodwill
19.3
18.6
18.7
+3.8%
Investments
n/a
n/a
107
Securities held for sale or to maturity
1,890
1,087
n/a
+73.9%
Cash and equivalents
818
446
1,137
+83.2%
Receivables
428
286
227
+49.7%
Inventory
235
120
70.7
+95.9%
Other assets
385
116
173
+232.8%
Total assets
4,290
2,395
1,916
+79.1%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.