Dexcom

The model is highly recurring, driven by continuous sensor replacement on multi‑million user bases, and supported by widening reimbursement for basal insulin and non‑insulin Type 2 populations. 2025 delivered 16 percent revenue growth to 4.662 billion dollars and margin expansion, and 2026 guidance calls for double‑digit growth and stable high‑60s gross margin on a non‑GAAP basis.

Expanded Medicare coverage for basal insulin and the OTC funnel increase the addressable market and smooth demand across cycles. Predictability is only partially offset by periodic product transitions and AID integration timelines.