DexCom Inc., adjustment to net income (loss)

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income (loss) (as reported)	341,200)	154,700)	493,600)	101,100)	(127,100)
Add: Unrealized gain (loss) on marketable debt securities	(2,300)	(1,700)	(200)	400)	100)
Net income (loss) (adjusted)	338,900)	153,000)	493,400)	101,500)	(127,000)

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DexCom Inc., adjusted profitability ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net Profit Margin
Reported net profit margin	11.73%	6.32%	25.62%	6.85%	-12.32%
Adjusted net profit margin	11.65%	6.25%	25.61%	6.88%	-12.31%
Return on Equity (ROE)
Reported ROE	16.01%	6.87%	27.02%	11.45%	-19.16%
Adjusted ROE	15.90%	6.80%	27.01%	11.50%	-19.15%
Return on Assets (ROA)
Reported ROA	6.33%	3.18%	11.50%	4.22%	-6.63%
Adjusted ROA	6.29%	3.15%	11.50%	4.24%	-6.63%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	DexCom Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	DexCom Inc. adjusted ROE deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	DexCom Inc. adjusted ROA deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)	341,200)	154,700)	493,600)	101,100)	(127,100)
Revenue	2,909,800)	2,448,500)	1,926,700)	1,476,000)	1,031,600)
Profitability Ratio
Net profit margin¹	11.73%	6.32%	25.62%	6.85%	-12.32%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)	338,900)	153,000)	493,400)	101,500)	(127,000)
Revenue	2,909,800)	2,448,500)	1,926,700)	1,476,000)	1,031,600)
Profitability Ratio
Adjusted net profit margin²	11.65%	6.25%	25.61%	6.88%	-12.31%

2022 Calculations

¹ Net profit margin = 100 × Net income (loss) ÷ Revenue
= 100 × 341,200 ÷ 2,909,800 = 11.73%

² Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenue
= 100 × 338,900 ÷ 2,909,800 = 11.65%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	DexCom Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)	341,200)	154,700)	493,600)	101,100)	(127,100)
Stockholders’ equity	2,131,800)	2,251,500)	1,826,500)	882,600)	663,300)
Profitability Ratio
ROE¹	16.01%	6.87%	27.02%	11.45%	-19.16%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)	338,900)	153,000)	493,400)	101,500)	(127,000)
Stockholders’ equity	2,131,800)	2,251,500)	1,826,500)	882,600)	663,300)
Profitability Ratio
Adjusted ROE²	15.90%	6.80%	27.01%	11.50%	-19.15%

2022 Calculations

¹ ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 341,200 ÷ 2,131,800 = 16.01%

² Adjusted ROE = 100 × Adjusted net income (loss) ÷ Stockholders’ equity
= 100 × 338,900 ÷ 2,131,800 = 15.90%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	DexCom Inc. adjusted ROE deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)	341,200)	154,700)	493,600)	101,100)	(127,100)
Total assets	5,391,700)	4,863,600)	4,290,500)	2,395,000)	1,916,000)
Profitability Ratio
ROA¹	6.33%	3.18%	11.50%	4.22%	-6.63%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)	338,900)	153,000)	493,400)	101,500)	(127,000)
Total assets	5,391,700)	4,863,600)	4,290,500)	2,395,000)	1,916,000)
Profitability Ratio
Adjusted ROA²	6.29%	3.15%	11.50%	4.24%	-6.63%

2022 Calculations

¹ ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 341,200 ÷ 5,391,700 = 6.33%

² Adjusted ROA = 100 × Adjusted net income (loss) ÷ Total assets
= 100 × 338,900 ÷ 5,391,700 = 6.29%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	DexCom Inc. adjusted ROA deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

DexCom Inc. (NASDAQ:DXCM)

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