Dexcom’s revenue and net income shot up in quarter three results after the successful launch of its G6 diabetes monitoring system.
The San Diego company on Nov. 6 reported $266.7 million in revenue for the third quarter, a 44 percent year-over-year increase.
Net income was $46.6 million, or $0.52 per share, compared to a net loss of $2.0 million, or $0.02 loss per share, during the same period last year, according to Dexcom.
Dexcom listed gross profit as $168.6 million, a 32.7 percent year-over-year increase.
The company’s stock on Nov. 6 closed at $132.92 a share. Right after market close and the release of the earnings report, the company’s stock jumped to $138.25 a share but as of 2:07 p.m. fell to $129.52.
Dexcom is part of a flourishing medical device scene in San Diego, as recently reported by the San Diego Business Journal.