Dexcom’s margin expansion, G7 15-Day rollout, Stelo pediatric OTC breakthrough, and GLP-1 synergy position the CGM leader for durable growth despite lingering regulatory overhangs.
Overview
Dexcom enters mid-2026 with strong momentum: Q1 revenue rose 15% to $1.192 billion, margins expanded sharply, and non-GAAP EPS grew 75% to $0.56. Management reiterated 11%–13% organic revenue growth guidance while raising profitability expectations. Despite prior FDA quality-control issues and recalls, demand remains healthy, G7 15-Day and Stelo expand the addressable market, and valuation has reset to attractive levels versus historical multiples.