On July 25, 2024, after the market closed, DexCom announced disappointing earnings results for its second quarter of 2024 and slashed full year revenue guidance from $4.35 billion to $4 billion-$4.05 billion. In addressing the results, DexCom stated that the company’s “execution did not meet [its] high standards,” and that DexCom lowered its full year 2024 guidance due to “certain unique items impacting 2024 seasonality.”
On this news, DexCom’s stock price fell over 40%, from a close of $107.85 on July 25, 2024 to a close of $64.00 on July 26, 2024.
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