(Reuters) -Dexcom forecast total annual revenue in line with Wall Street expectations on Monday, on bets of strong demand for its continuous glucose monitors for diabetes patients, sending the medical device maker’s shares up 6% premarket.
The company’s shares had fallen nearly 37% last year, largely due to a slump in July after Dexcom slashed its annual revenue forecast, blaming a restructuring of its sales team, fewer customers and lower revenue.
Dexcom’s CEO had said in October the company would improve in the fourth quarter and “get more and more effective over time”.
The company reported preliminary fourth-quarter revenue of at least $1.11 billion, in line with analysts’ estimate of $1.10 billion, according to data compiled by LSEG.
It expects annual revenue of $4.60 billion in 2025, compared with analysts’ estimate of $4.61 billion.
(Reporting by Christy Santhosh in Bengaluru; Editing by Krishna Chandra Eluri)
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