Dexcom CEO Kevin Sayre.
Scott Milin | CNBC
shares Discom It fell 9% in extended trading Thursday after the company released third-quarter results that beat analysts' expectations but showed a decline in U.S. revenue year-over-year.
Here's what the company reported compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG:
Earnings per share: 45 cents adjusted vs. 43 cents expected Revenue: $994 million vs. $990 million expected
The company's revenue rose 2% to $994.2 million from $975 million the previous year. Dexcom's U.S. revenue fell 2% from $713.6 million a year earlier. The company recorded net income of $134.6 million, or 34 cents per share, compared to $120.7 million, or 29 cents per share, in the same period last year.
Dexcom offers a range of tools such as continuous glucose monitors, or CGMs, for patients diagnosed with diabetes. In August, it launched its first over-the-counter product called Stelo, intended for adults who don't take insulin.
The company maintained its full fiscal year guidance and expects revenue of $4 billion to $4.05 billion. Last quarter, Dexcom cut its guidance from $4.20 billion to the $4.35 billion it expected in the first quarter.
This lower guidance and revenue loss sent Dexcom shares down more than 40% after the release of second-quarter results in July. The company's CEO, Kevin Sayre, attributed the challenges to the restructuring of the company's sales team, a lower number of new customers than expected, and lower revenue per user.
These problems improved during the third quarter, Sayre said in a call with investors on Thursday.
The company also announced that Teri Lawver, Dexcom's chief commercial officer, will retire at the end of the year. Laufer will remain as an advisor until early next year, and Sayre will lead the trading organization while Dexcom searches for a replacement.
