Dexcom Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Dexcom Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

DEXCOM INC (DXCM) filed a Annual Report (10-K) with the SEC on February 8, 2024. Dexcom Inc. filed its 2023 Form 10-K on February 8, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 6340 Sequence Drive, San Diego, CA 92121. The company's IRS number is 330857544. Dexcom Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking DEXCOM INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Dexcom's financial health, operational strategies, and risk factors for investors and stakeholders. The detailed financial data and disclosures within the report are crucial for understanding the company's performance and future outlook in the medical device sector.

Risk Assessment

Risk Level: medium — DEXCOM INC shows moderate risk based on this filing. The company operates in the highly regulated medical device industry, facing risks related to product development, regulatory approvals, and market competition.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Dexcom's growth prospects and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-08 — Filing Date (Date of submission)
• 3841 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (Legal domicile)

Key Players & Entities

• DEXCOM INC (company) — Filer
• 20231231 (date) — Fiscal year end
• 20240208 (date) — Filing date
• 6340 SEQUENCE DRIVE (address) — Business address street 1
• SAN DIEGO (city) — Business address city
• CA (state) — Business address state
• 92121 (zip_code) — Business address zip
• 330857544 (identifier) — IRS number

FAQ

Industry Context

Dexcom operates in the medical device industry, specifically focusing on continuous glucose monitoring (CGM) systems for diabetes management.

Regulatory Implications

The medical device industry is subject to stringent regulations by bodies like the FDA, impacting product development, manufacturing, and marketing.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue trends, profitability, and cash flow.
2. Examine the risk factors section for potential challenges and mitigation strategies.
3. Review any disclosures regarding executive compensation or significant business developments.

Key Dates

• 2024-02-08: 10-K Filing — Submission of the annual report for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the latest annual financial and operational data for Dexcom Inc.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value Per Share DXCM Nasdaq Global
• $128.51 — ion based on the closing sales price of $128.51 per share as reported on the Nasdaq Glo

Filing Documents

• dxcm-20231231.htm (10-K) — 2465KB
• dxcm12312023ex45-securitie.htm (EX-4.5) — 22KB
• dxcm12312023ex1012-2015emp.htm (EX-10.12) — 303KB
• dxcm12312023ex1013-amended.htm (EX-10.13) — 485KB
• dxcm12312023ex1014-amended.htm (EX-10.14) — 449KB
• dxcm12312023ex191-procedur.htm (EX-19.1) — 144KB
• dxcm12312023ex2101_12312023.htm (EX-21.01) — 12KB
• dxcm12312023ex2301_12312023.htm (EX-23.01) — 3KB
• dxcm12312023exhibit3101.htm (EX-31.01) — 9KB
• dxcm12312023exhibit3102.htm (EX-31.02) — 9KB
• dxcm12312023exhibit3201.htm (EX-32.01) — 4KB
• dxcm12312023exhibit3202.htm (EX-32.02) — 4KB
• dxcm12312023ex971-compensa.htm (EX-97.1) — 54KB
• dxcm-20231231_g1.jpg (GRAPHIC) — 108KB
• dxcm-20231231_g2.jpg (GRAPHIC) — 93KB
• dxcm-20231231_g3.jpg (GRAPHIC) — 204KB
• dxcm-20231231_g4.jpg (GRAPHIC) — 60KB
• dxcm-20231231_g5.jpg (GRAPHIC) — 97KB
• 0001093557-24-000021.txt (&nbsp;) — 15475KB
• dxcm-20231231.xsd (EX-101.SCH) — 75KB
• dxcm-20231231_cal.xml (EX-101.CAL) — 139KB
• dxcm-20231231_def.xml (EX-101.DEF) — 342KB
• dxcm-20231231_lab.xml (EX-101.LAB) — 996KB
• dxcm-20231231_pre.xml (EX-101.PRE) — 670KB
• dxcm-20231231_htm.xml (XML) — 2112KB

Business

Business 6 ITEM 1A.

Risk Factors

Risk Factors 26 ITEM 1B. Unresolved Staff Comments 67 I TEM 1C. Cybersecurity 67 ITEM 2.

Properties

Properties 69 ITEM 3.

Legal Proceedings

Legal Proceedings 69 ITEM 4. Mine Safety Disclosures 70 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 71 ITEM 6. [Reserved] 72 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 73 ITEM 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 84 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 85 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 85 ITEM 9A.

Controls and Procedures

Controls and Procedures 86 ITEM 9B. Other Information 88 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 88 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 89 ITEM 11.

Executive Compensation

Executive Compensation 89 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 89 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 89 ITEM 14. Principal Accountant Fees and Services 89 PART IV ITEM 15. Exhibits and Financial Statement Schedules 90 ITEM 16. Form 10-K Summary 92

Signatures

Signatures 93 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Except for historical financial information contained herein, the matters discussed in this Annual Report on Form 10-K may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and subject to the safe harbor created by the Securities Litigation Reform Act of 1995. Such statements include declarations regarding our operations, financial condition and prospects, and business strategies, and are based on management's current intent, beliefs, expectations, and assumptions. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks, uncertainties and other factors, some of which are beyond our control; actual results could differ materially from those indicated or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to: (i) that the information is of a preliminary nature and may be subject to further adjustment; (ii) those risks and uncertainties identified under "Risk Factors"; and (iii) the other risks detailed from time-to-time in our reports and registration statements filed with the Securities and Exchange Commission, or the SEC. Except as required by law, we undertake no obligation to revise or update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we obtained t

- BUSINESS

ITEM 1 - BUSINESS Overview We are a medical device company primarily focused on the design, development and commercialization of continuous glucose monitoring, or CGM, systems for the management of diabetes by patients, caregivers, and clinicians around the world. We received approval from the Food and Drug Administration, or FDA, and commercialized our first product in 2006. We launched our latest generation systems, the Dexcom G6 integrated Continuous Glucose Monitoring System, or G6, in 2018 and more recently received marketing clearance from the FDA on the Dexcom G7 , or G7, in December 2022. Unless the context requires otherwise, the terms "we," "us," "our," the "company," or "Dexcom" refer to DexCom, Inc. and its subsidiaries. Products Dexcom G6 In March 2018, we obtained marketing authorization from the FDA for the G6 via the de novo process. The G6 was the first type of CGM system permitted by the FDA to be used as part of an integrated system with other compatible medical devices and electronic interfaces, which may include automated insulin delivery systems, insulin pumps, blood glucose meters or other electronic devices used for diabetes management. G6 and substantially equivalent devices of this generic type that may later receive marketing authorization are referred to as integrated continuous glucose monitoring systems, or iCGMs, and have been classified as Class II devices by the FDA. Along with this classification, the FDA established criteria, called special controls, which outline requirements for assuring CGM accuracy, reliability and clinical relevance, and which also describe the type of studies and data required to demonstrate acceptable CGM performance. The G6 is designed to allow our transmitter to run an algorithm to generate a glucose value and to communicate directly to a patient's compatible mobile device, including iPhone , iPod touch , iPad , and certain Android mobile devices. A patient's glucose data can also be displayed on we

View Full Filing

View this 10-K filing on SEC EDGAR