DexCom, Inc. (DXCM) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $7.40 million, or $ 0.09 a share in the quarter, against a net profit of $1.50 million, or $0.02 a share in the last year period.
Revenue during the quarter surged 30.89 percent to $171.20 million from $130.80 million in the previous year period. Gross margin for the quarter contracted 156 basis points over the previous year period to 68.17 percent. Operating margin for the quarter stood at negative 3.56 percent as compared to a positive 1.22 percent for the previous year period.
Operating loss for the quarter was $6.10 million, compared with an operating income of $1.60 million in the previous year period.
"2016 was a strong year for DexCom," said Kevin Sayer, DexCom's president and chief executive officer. "The company not only generated record revenue but also achieved a number of important milestones, including the first ever non-adjunctive indication from the FDA. We look forward to continued global growth in 2017 and beyond."
Working capital increases
DexCom, Inc. has recorded an increase in the working capital over the last year. It stood at $177.60 million as at Dec. 31, 2016, up 8.03 percent or $13.20 million from $164.40 million on Dec. 31, 2015. Current ratio was at 2.73 as on Dec. 31, 2016, down from 3.46 on Dec. 31, 2015.
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