DEXCOM INC
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 12, 2026
DXCM$79.92-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
DexCom, Inc.
Consolidated Statements of Cash Flows
| Twelve Months EndedDecember 31, | |||
|---|---|---|---|
| (In millions) | 2025 | 2024 | 2023 |
| Operating activities | |||
| Net income | $836.3 | $576.2 | $541.5 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 251.8 | 217.7 | 186.0 |
| Share-based compensation | 159.6 | 170.4 | 150.8 |
| Non-cash interest expense | 7.3 | 7.5 | 7.8 |
| Deferred income taxes | 182.2 | (43.8) | (55.0) |
| Net (gains) losses on equity investments | (78.1) | 1.4 | (1.9) |
| Other non-cash income and expenses | (21.8) | (48.7) | (83.9) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (201.9) | (35.0) | (260.1) |
| Inventory | (63.7) | 12.4 | (252.6) |
| Prepaid and other assets | (14.8) | (5.8) | 19.3 |
| Operating lease right-of-use assets and liabilities, net | (7.1) | (6.5) | (4.5) |
| Accounts payable and accrued liabilities | 347.0 | 211.7 | 466.5 |
| Accrued payroll and related expenses | 55.4 | (60.0) | 37.2 |
| Deferred revenue and other liabilities | (11.5) | (8.0) | (2.6) |
| Net cash provided by operating activities | 1,440.7 | 989.5 | 748.5 |
| Investing activities | |||
| Purchases of marketable securities | (1,246.6) | (2,576.3) | (3,200.4) |
| Proceeds from sale and maturity of marketable securities | 2,164.7 | 2,824.4 | 2,947.4 |
| Purchases of property and equipment | (363.5) | (358.8) | (236.6) |
| Purchases of non-marketable equity securities | (19.2) | (81.3) | (19.5) |
| Other investing activities | 0.6 | (15.5) | 1.9 |
| Net cash provided by (used in) investing activities | 536.0 | (207.5) | (507.2) |
| Financing activities | |||
| Net proceeds from issuance of common stock | 28.1 | 28.2 | 26.6 |
| Purchases of treasury stock | (500.0) | (750.0) | (688.7) |
| Proceeds from issuance of convertible notes, net of issuance costs | — | — | 1,230.6 |
| Purchases of capped call transactions | — | — | (101.3) |
| Payments for conversions of senior convertible notes | — | — | (787.3) |
| Repayments for maturity of senior convertible notes | (1,207.5) | — | — |
| Other financing activities | (7.0) | (13.0) | 1.5 |
| Net cash used in financing activities | (1,686.4) | (734.8) | (318.6) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 21.5 | (7.4) | 1.5 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 311.8 | 39.8 | (75.8) |
| Cash, cash equivalents and restricted cash, beginning of period | 607.3 | 567.5 | 643.3 |
| Cash, cash equivalents and restricted cash, end of period | $919.1 | $607.3 | $567.5 |
| Reconciliation of cash, cash equivalents and restricted cash, end of period: | |||
| Cash and cash equivalents | $917.7 | $606.1 | $566.3 |
| Restricted cash | 1.4 | 1.2 | 1.2 |
| Total cash, cash equivalents and restricted cash | $919.1 | $607.3 | $567.5 |
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Supplemental disclosure of non-cash investing and financing transactions: | |||
| Shares issued for repurchase and conversions of senior convertible notes | $— | $— | $1,501.9 |
| Shares received under note hedge upon conversion of 2023 Notes | $— | $— | $(1,490.3) |
| Acquisition of property and equipment included in accounts payable and accrued liabilities | $62.7 | $75.4 | $53.2 |
| Supplemental cash flow information: | |||
| Cash paid during the year for interest | $11.4 | $11.4 | $12.4 |
| Cash paid during the year for income taxes | $94.4 | $198.0 | $212.3 |
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