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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
$28B
P/E ratio
31×
Revenue (FY25)
$4.66B
Rev. growth
+16%
Gross margin
~60%
Recurring rev
~96%
Active users
~3.5M
US revenue
~72%
In plain English
Dexcom makes continuous glucose monitors (CGM) — a tiny sensor worn on the body that reads glucose every few minutes and streams it to a phone. The business is a razor-and-blades model: the sensors wear out every 10-15 days and must be replaced, so almost all revenue is recurring sensor sales to roughly 3.5 million diabetics and, increasingly, to people without diabetes via its over-the-counter Stelo biosensor. Its great rival is Abbott's FreeStyle Libre.
In simple terms
What Dexcom really sells
Dexcom makes continuous glucose monitors (CGM) — a tiny sensor worn on the body that reads glucose every few minutes and streams it to a phone. The business is a razor-and-blades model: the sensors wear out every 10-15 days and must be replaced, so almost all revenue is recurring sensor sales to roughly 3.5 million diabetics and, increasingly, to people without diabetes via its over-the-counter Stelo biosensor. Its great rival is Abbott's FreeStyle Libre.
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