Stock Analysis on Net
Stock Analysis on Net

DexCom Inc. (NASDAQ:DXCM)

This company has been moved to the archive! The financial data has not been updated since October 26, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

DexCom Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable and accrued liabilities 20.82 16.96 17.50 16.73 15.60 13.19 11.93 11.78 12.52 10.70 11.45 11.21 10.36 8.97 10.93 10.71 10.63 9.52 8.57 7.68 12.15 11.70 9.81
Accrued payroll and related expenses 2.29 1.59 1.72 2.49 2.30 1.82 1.67 2.57 2.41 2.18 1.85 2.66 2.40 1.91 2.41 3.70 3.24 3.58 2.60 3.78 4.94 4.58 3.81
Current portion of long-term senior convertible notes 1.88 11.34 14.02 14.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-term operating lease liabilities 0.32 0.32 0.40 0.38 0.43 0.41 0.41 0.42 0.40 0.42 0.41 0.38 0.41 0.43 0.59 0.57 0.68 0.68 0.62 0.00 0.00 0.00 0.00
Deferred revenue 0.14 0.13 0.17 0.19 0.06 0.05 0.05 0.04 0.05 0.04 0.04 0.05 0.04 0.05 0.07 0.07 0.20 0.17 0.14 0.15 0.31 0.67 0.32
Current liabilities 25.45% 30.34% 33.81% 34.11% 18.38% 15.47% 14.07% 14.82% 15.39% 13.34% 13.76% 14.31% 13.21% 11.36% 14.00% 15.04% 14.75% 13.95% 11.93% 11.61% 17.40% 16.95% 13.95%
Long-term senior convertible notes 36.88 35.64 21.73 22.21 40.19 37.71 38.87 35.01 35.67 37.98 38.47 38.86 42.94 47.10 43.81 44.25 47.91 50.08 51.79 52.73 30.40 33.25 36.94
Long-term operating lease liabilities 1.26 1.27 1.63 1.75 1.68 1.68 1.84 2.03 2.15 2.38 2.54 2.37 2.69 2.09 3.16 3.02 1.57 1.80 1.49 0.00 0.00 0.00 0.00
Other long-term liabilities 2.03 1.95 2.35 2.38 2.52 1.91 1.92 1.85 2.06 1.95 1.88 1.89 2.05 1.00 0.85 0.84 0.81 0.85 0.92 1.04 1.74 1.95 2.09
Long-term liabilities 40.17% 38.86% 25.71% 26.35% 44.38% 41.29% 42.64% 38.89% 39.89% 42.31% 42.88% 43.12% 47.68% 50.20% 47.82% 48.11% 50.28% 52.73% 54.20% 53.77% 32.15% 35.20% 39.03%
Total liabilities 65.62% 69.21% 59.52% 60.46% 62.76% 56.76% 56.71% 53.71% 55.27% 55.65% 56.64% 57.43% 60.89% 61.56% 61.82% 63.15% 65.03% 66.68% 66.13% 65.38% 49.55% 52.15% 52.98%
Preferred stock, $0.001 par value; no shares issued and outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.001 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 54.85 33.27 41.80 41.88 42.29 38.89 39.48 51.49 48.62 48.71 49.25 49.54 56.19 59.06 69.71 69.97 75.56 78.44 80.58 81.45 106.04 114.05 125.17
Accumulated other comprehensive income (loss) -0.54 -0.43 -0.12 -0.22 -0.84 -0.44 -0.12 0.01 0.03 0.06 0.07 0.07 0.07 0.10 0.15 0.10 0.05 0.10 0.08 0.08 -0.03 -0.13 -0.55
Retained earnings (accumulated deficit) 11.60 9.45 9.58 8.90 7.92 5.50 4.67 -0.97 -0.59 -2.20 -3.69 -4.71 -14.54 -17.87 -27.61 -29.05 -36.07 -40.38 -41.73 -41.70 -55.57 -66.08 -77.61
Treasury stock, at cost -31.53 -11.50 -10.79 -11.04 -12.14 -0.71 -0.74 -4.24 -3.34 -2.22 -2.28 -2.33 -2.61 -2.84 -4.09 -4.18 -4.58 -4.84 -5.07 -5.22 0.00 0.00 0.00
Stockholders’ equity 34.38% 30.79% 40.48% 39.54% 37.24% 43.24% 43.29% 46.29% 44.73% 44.35% 43.36% 42.57% 39.11% 38.44% 38.18% 36.85% 34.97% 33.32% 33.87% 34.62% 50.45% 47.85% 47.02%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Accounts payable and accrued liabilities
The proportion of accounts payable and accrued liabilities as a percentage of total liabilities and stockholders’ equity exhibited fluctuations over the period. Initially rising from 9.81% in Q1 2018 to 12.15% in Q3 2018, it subsequently declined to a low of 7.68% by Q4 2018. From that point onward, a general upward trend was observed, peaking at 20.82% in Q3 2023. This suggests an increasing reliance or growth in short-term obligations over the longer term.
Accrued payroll and related expenses
Accrued payroll as a percentage of total liabilities and equity started at 3.81% in Q1 2018, rose to nearly 4.94% in Q3 2018, then followed a general declining trend, reaching a low of 1.59% in Q2 2023 before slightly recovering to 2.29% in Q3 2023. Overall, accrued payroll liabilities decreased relative to total funding sources, indicating either improved payroll management or lower accrued expenses.
Current portion of long-term senior convertible notes
This liability was not reported until Q1 2023, where it represented 14.33% of total liabilities and equity, then declined to 1.88% by Q4 2023. The late appearance and rapid decrease could indicate conversions, repayments, or refinancings of this debt component within the latest periods.
Short-term operating lease liabilities
Values remained relatively stable and very low, roughly between 0.32% and 0.68%, over the periods since first appearing in Q1 2019. This stability suggests a consistent level of operating lease obligations proportionate to the entity’s size.
Deferred revenue
The deferred revenue component was minimal throughout the timeline, generally fluctuating between 0.04% and 0.19%, with no clear upward or downward trajectory. This implies that deferred revenue remains an insignificant part of the company’s total financing structure.
Current liabilities
Current liabilities as a percentage of total liabilities and equity showed marked variability. There was a notable peak of 34.11% in Q1 2023, driven mainly by the significant increase in the current portion of convertible notes. Prior to this, current liabilities fluctuated moderately, staying mostly between 11% and 18%. The spike in early 2023 indicates a shift toward increased short-term obligations in that period, followed by a decline to 25.45% by Q1 2024.
Long-term senior convertible notes
This long-term debt component steadily decreased from a high of 52.73% in Q4 2018 to approximately 22.21% during Q1 2023, before increasing again to 36.88% by Q4 2023. The decline aligns temporally with the rise in the current portion, suggesting scheduled repayments or maturity approaching, then some reissuance or changes causing an increase in long-term notes later in 2023.
Long-term operating lease liabilities
Long-term operating lease obligations appeared from Q2 2019 onward, generally showing a downward trend from about 3.16% in Q1 2020 to approximately 1.26% by Q4 2023. This decline may reflect lease terminations or a reduction in lease commitments over time.
Other long-term liabilities
Other long-term liabilities maintained a relatively stable and minor presence, fluctuating slightly between about 0.81% and 2.52% throughout the periods. There is no significant trend suggesting major changes in this category.
Long-term liabilities
Long-term liabilities including convertible notes and other long-term obligations showed a declining trend from over 53% in late 2018 to around 25-26% at the beginning of 2023, followed by a rebound to 40.17% by Q4 2023. This pattern points to substantial repayment or refinancing activities in early 2023 and subsequent re-leveraging or new debt issuance.
Total liabilities
Total liabilities steadily decreased from the mid-60% range in 2018 and 2019 to about 57.43% by Q4 2020, then hovered around 55-62% until early 2023 when a sharp increase to 69.21% took place. By Q4 2023, total liabilities settled slightly lower at 65.62%. This suggests a generally stable but somewhat fluctuating debt load with a notable peak in early 2023, likely driven by shifts in current and long-term liabilities.
Common stock
Common stock remained negligible and stable at approximately 0.01% throughout the entire period, reflecting a relatively consistent par value representation without significant changes in issued shares or stock structure on a percentage basis.
Additional paid-in capital
Additional paid-in capital exhibited a downward trend from 125.17% in Q1 2018 to about 33.27% in Q2 2023, before rebounding to 54.85% in Q3 2023. This decrease over time could indicate stock buybacks, dilution impacts, or shifts in capital structure, with the late uptick potentially from new equity issuance or adjustments in valuation.
Accumulated other comprehensive income (loss)
This item fluctuated close to zero, initially slightly negative, moving towards small positive values from 2018 through 2021, then turning increasingly negative again by late 2022. The values remain minor in magnitude relative to total liabilities and equity, indicating minor impacts from items like foreign currency translation or unrealized gains/losses.
Retained earnings (accumulated deficit)
Retained earnings showed a steady improvement from a significant negative value of -77.61% in Q1 2018 to a positive 11.6% by Q3 2023. This transition from deficit to gain signals accumulating profits or other comprehensive adjustments improving the cumulative earning position of the company over time.
Treasury stock, at cost
Treasury stock levels were not reported in the early periods but showed increasing negative values starting in late 2018, deepening sharply to -31.53% by Q3 2023. This indicates substantial repurchases or holdings of own stock at cost, representing a significant use of capital for buybacks in recent years.
Stockholders’ equity
Stockholders’ equity relative to total liabilities and equity diminished from around 50.45% during 2018 to approximately 30.79% by mid-2023, before recovering somewhat to 34.38% by Q3 2023. The equity percentage reflects the net impact of retained earnings improvements offset by treasury stock increases and fluctuating capital contributions.