The San Diego, Calif.-based company posted losses of $41.7 million, or 49¢ per share, on sales of $142.3 million for the 3 months ended March 31, seeing losses grow 117.2% while sales grew 22.5% compared with the same period last year.
For the quarter, DexCom’s losses per share were 1¢ greater than the consensus on Wall Street, where analysts were looking for revenue of $144.5 million.
“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. 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,” prez & CEO Kevin Sayer said in a press release.
Shares in DexCom have dropped 9.4% in after hours trading today, down $7.66 at $73.99 as of 4:41 p.m. EDT.
The post DexCom shares drop on Q1 miss appeared first on MassDevice.
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