Management will hold a conference call today starting at 4:30 p.m. (Eastern Time). The conference call will be concurrently webcast. The link to the webcast will be available on the DexCom, Inc. website at www.dexcom.com under the investor webcast section and will be archived for future reference. To listen to the conference call, please dial (800) 447-0521 (US/Canada) or (847) 413-3238 (International) and use the participant code "31897101" approximately five minutes prior to the start time.
About DexCom, Inc.
DexCom, Inc., headquartered in San Diego, California, is developing and marketing continuous glucose monitoring systems for ambulatory use by patients with diabetes and by healthcare providers in the hospital.Cautionary Statement Regarding Forward Looking Statements DexCom is a medical device company with a limited operating history. Successful commercialization of the company’s products is subject to numerous risks and uncertainties, including a lack of acceptance in the marketplace by physicians and patients, the inability to manufacture products in commercial quantities at an acceptable cost, possible delays in the company’s development programs, the inability of patients to receive reimbursement from third-party payors and inadequate financial and other resources. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the company's quarterly report on Form 10-Q for the period ended September 30, 2012, as filed with the Securities and Exchange Commission on November 1, 2012.
|DexCom, Inc. Consolidated Balance Sheets (In thousands—except par value data)|
|September 30, 2012 (Unaudited)||December 31, 2011|
|Cash and cash equivalents||$||4,744||$||2,553|
|Short-term marketable securities, available-for-sale||48,641||79,358|
|Accounts receivable, net||12,357||12,547|
|Prepaid and other current assets||2,688||1,781|
|Total current assets||75,571||104,410|
|Property and equipment, net||18,613||15,019|
|Intangible assets, net||4,313||0|
|Liabilities and stockholders’ equity|
|Accounts payable and accrued liabilities||$||10,520||$||6,346|
|Accrued payroll and related expenses||8,662||6,804|
|Current portion of deferred revenue||1,222||1,591|
|Total current liabilities||20,404||14,741|
|Long-term portion of deferred revenue||569||281|
|Commitments and contingencies|
|Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively||0||0|
|Common stock, $0.001 par value, 100,000 authorized; 69,534 and 69,250 issued and outstanding, respectively, at September 30, 2012; and 67,833 and 67,549 shares issued and outstanding, respectively, at December 31, 2011||70||68|
|Additional paid-in capital||517,418||495,626|
|Accumulated other comprehensive loss||(93||)||(80||)|
|Total stockholders’ equity||80,253||104,490|
|Total liabilities and stockholders’ equity||$||102,796||$||120,475|
|DexCom Inc. Consolidated Statements of Operations (In thousands—except per share data) (Unaudited)|
|Three Months Ended September 30,||Nine Months Ended September 30,|
|Development grant and other revenue||2,008||1,598||5,411||8,871|
|Product cost of sales||13,391||9,230||33,867||25,933|
|Development and other cost of sales||1,296||860||3,735||2,761|
|Total cost of sales||14,687||10,090||37,602||28,694|
|Research and development||10,582||8,231||30,795||21,515|
|Selling, general and administrative||15,142||13,241||45,605||36,203|
|Total operating expenses||25,724||21,472||76,400||57,718|
|Interest and other income||17||31||65||82|
|Loss before income taxes||(17,306||)||(13,278||)||(47,305||)||(32,495||)|
|Income tax expense (benefit)||(43||)||0||(1,287||)||0|
|Basic and diluted net loss per share||$||(0.25||)||$||(0.20||)||$||(0.67||)||$||(0.50||)|
|Shares used to compute basic and diluted net loss per share||69,052||67,397||68,494||64,910|
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