DexCom, Inc (DXCM) saw its loss widen to $41.70 million, or $0.49 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $19.20 million, or $0.23 a share. Revenue during the quarter grew 22.46 percent to $142.30 million from $116.20 million in the previous year period. Gross margin for the quarter expanded 150 basis points over the previous year period to 66.13 percent. Operating margin for the quarter stood at negative 28.39 percent as compared to a negative 16.52 percent for the previous year period.
Operating loss for the quarter was $40.40 million, compared with an operating loss of $19.20 million in the previous year period.
“DexCom has achieved multiple historic milestones in the past several months, including a non-adjunctive label from the FDA and a CMS Ruling that provides coverage for DexCom G5 Mobile,” said Kevin Sayer, president and chief executive officer, DexCom. “As a result, interest in DexCom CGM remains at all-time highs. We are proud that our G5 Mobile is the first and only CGM system to be classified as ‘therapeutic CGM’ and believe these achievements are a direct result of the strength of our CGM platform”
Working capital decreases marginally
DexCom, Inc has witnessed a decline in the working capital over the last year. It stood at $158.80 million as at Mar. 31, 2017, down 2.76 percent or $4.50 million from $163.30 million on Mar. 31, 2016. Current ratio was at 1.92 as on Mar. 31, 2017, down from 3.55 on Mar. 31, 2016. Days sales outstanding went down to 51 days for the quarter compared with 55 days for the same period last year.
Days inventory outstanding has decreased to 43 days for the quarter compared with 90 days for the previous year period.
Debt increases substantially
DexCom, Inc has witnessed an increase in total debt over the last one year. It stood at $75 million as on Mar. 31, 2017, up 4,311.76 percent or $73.30 million from $1.70 million on Mar. 31, 2016. Dexcom has witnessed an increase in short-term debt over the last one year. It stood at $75 million as on Mar. 31, 2017, up 4,311.76 percent or $73.30 million from $1.70 million on Mar. 31, 2016. Total debt was 16.05 percent of total assets as on Mar. 31, 2017, compared with 0.57 percent on Mar. 31, 2016. Debt to equity ratio was at 0.27 as on Mar. 31, 2017, up from 0.01 as on Mar. 31, 2016.
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