DexCom reported Q3 2024 revenue of $994.2 million, up 2% year-over-year, driven by increased disposable sensor sales volume from continued worldwide customer base expansion. International revenue grew 12% to $292.3 million while U.S. revenue declined 2% to $701.9 million. Net income increased 12% to $134.6 million despite gross margin pressure.Operating income decreased 26% to $152.0 million as gross margin contracted to 59.7% from 63.9%, primarily due to product mix changes and a $24.6 million non-cash inventory charge. Operating expenses rose 6% to $441.8 million, with R&D spending up 3% to $135.4 million and SG&A costs increasing 7% to $306.4 million.The company maintained strong liquidity with $2.49 billion in cash and investments. Operating cash flow was $199.5 million, down 26% year-over-year. During the quarter, DexCom repurchased 10.4 million shares for $750 million under its share repurchase program and continued global manufacturing expansion investments in Arizona, Malaysia and Ireland.

DexCom reported Q3 2024 revenue of $994.2 million, up 2% year-over-year, driven by increased disposable sensor sales volume from continued worldwide customer base expansion. International revenue grew 12% to $292.3 million while U.S. revenue declined 2% to $701.9 million. Net income increased 12% to $134.6 million despite gross margin pressure.Operating income decreased 26% to $152.0 million as gross margin contracted to 59.7% from 63.9%, primarily due to product mix changes and a $24.6 million non-cash inventory charge. Operating expenses rose 6% to $441.8 million, with R&D spending up 3% to $135.4 million and SG&A costs increasing 7% to $306.4 million.The company maintained strong liquidity with $2.49 billion in cash and investments. Operating cash flow was $199.5 million, down 26% year-over-year. During the quarter, DexCom repurchased 10.4 million shares for $750 million under its share repurchase program and continued global manufacturing expansion investments in Arizona, Malaysia and Ireland.