Coming off a stellar year in 2014, during which its share price jumped by more than half over the previous 12 months, Dexcom has continued on an upward trajectory in 2015. In January, the San Diego-based maker of continuous glucose monitoring (CGM) devices handed the reins over to new CEO Kevin Sayer, previously the company’s chief operating officer. Then, during Sayer’s first conference call in February, came word that Dexcom, which was founded in 1999 and went public in 2005, had turned a profit for the very first time, beating analysts’ expectations and netting $1.3 million during the fourth quarter of 2014.
The company also jumped on board the consumerization trend in a big way this year. In April, it announced its Dexcom G4 Platinum CGM system could be integrated with the newly released Apple Watch to give users convenient, at-a-glance access to their glucose levels. In August, the company won FDA approval for its G5 CGM system, the first to send glucose data directly to a smartphone.
We can likely expect more tech-forward solutions from Dexcom going forward, too, thanks to a partnership with Google, announced in August. The collaboration will allow Dexcom to combine its sensor technology with Google’s miniaturized electronics to develop lighter, cheaper, disposable CGM devices expected to hit the market in the next two to three years. This year, Dexcom also paved the way for patients with diabetes to get easier access to its devices through agreements with insurers to process CGMs as a pharmacy benefit.
[Image courtesy of DEXCOM]