Headline : Dexcom shares plummet almost 40% after company misses on revenue, lowers guidance

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Shares of Dexcom tumbled almost 40% in extended trading Thursday after the diabetes management company reported disappointing revenue for the second quarter and offered weak guidance.

Dexcom's revenue increased 15% from $871.3 million a year earlier, according to a release. The company reported net income of $143.5 million, up from $115.9 million in the same period last year.

For the third quarter, Dexcom expects revenue of $975 million to $1 billion to account for "certain unique items impacting 2024 seasonality," the release said. Dexcom updated its full fiscal year guidance and now expects revenue of $4 billion to $4.05 billion, down from the $4.20 billion to $4.35 billion it forecast last quarter.

Dexcom offers a suite of tools like continuous glucose monitors (CGMs) for patients that have been diagnosed with diabetes.

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