Dexcom updated LogoDexcom

(Nasdaq: DXCM)

shares dipped after hours on fourth-quarter results that came in ahead of the consensus forecast.

Shares of DXCM fell 1.6% at $125 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day up 0.2%.

The San Diego-based continuous glucose monitor (CGM) maker posted profits of $256.3 million. That equals 62¢ per share on sales of $1.03 billion for the three months ended Dec. 31, 2023. Dexcom nearly tripled its bottom line on sales growth of 26.9%.

Adjusted to exclude one-time items, earnings per share totaled 50¢, landing 7¢ ahead of expectations on Wall Street. Sales narrowly beat the forecasts for $1.02 billion in revenue.

The company highlighted volume growth and new customer additions as the primary growth driver for revenues. Dexcom says awareness of real-time CGM continues to increase, bolstering its business.

Get the full story at our sister site, Drug Delivery Business News.