On Thursday afternoon, DexCom (NASDAQ:DXCM) announced its fourth-quarter and full-year financial results. The maker of continuous glucose monitoring systems for diabetes management reported an overall strong quarter during which key metrics beat Wall Street's expectations.
Revenue came in at $462.8 million, up 37% from the $338 million it brought in during Q4 2018. While sales growth in the U.S. market was strong, its biggest increase came from international markets, where sales rose by 52%. The domestic market still provides for 81% of the company's total income, however.
DexCom's GAAP net income was $92.7 million in Q4, a marked turnaround from the $179.7 million GAAP net loss it produced in the year-ago period.
One metric that changed noticeably for the worse was DexCom's cash position, which fell from $1.14 billion at the close of 2018 to just $446.2 million as of the end of 2019.
For the most part, however, the company has exceeded analysts' expectations. Wall Street had expected $441.0 million in quarterly revenue for the company, a figure that DexCom beat handily, while analysts' consensus EPS forecast of $0.74 turned out to be well below the GAAP EPS of $1.00 that the biotech company reported.
DexCom is a medical device manufacturer known for its diabetes monitoring systems, and its technology is a core feature in the products of a number of insulin pump makers, such as Tandem Diabetes Care. DexCom's stock rose 4.9% in after-hours trading Thursday following the quarterly release.