DexCom
33 named things its latest annual report says its results depend on, each in the company's own words. 19 of them are also named by other companies we've read.
Customers
Distributors (10%+ revenue)
earns from · 10% or more of our total revenuenamed as a riskCertain of our distribution agreements generated 10% or more of our total revenue during the twelve months ended December 31, 2025.Risk factors (Item 1A)
Also named by AVGO, MCHP, MSA, MTSI, MXL, ON, RMBS, ROK and 1 more
Private third-party payors
earns fromnamed as a riskAs of December 31, 2025, the eight largest private third-party payors in the United States, in terms of the number of covered lives, have issued coverage policies for the category of CGM devices.Business (Item 1)
Partners and platforms
Insulin delivery partners
depends onnamed as a riskAs a result of these relationships, our operating results depend, to some extent, on the ability of our partners to successfully commercialize their insulin delivery systems or monitoring products.Risk factors (Item 1A)
Apple Watch
depends onPatients can monitor their glucose levels and trends on compatible wearable devices, such as Apple Watch and Wear OS by Google devices, when used with a compatible mobile device.Business (Item 1)
Other companies
2028 Convertible Senior Notes
approximately $1.25 billionnamed as a riskAs a result of the Notes Offering, we incurred $1.25 billion principal amount of indebtedness, the principal amount of which we may be required to pay at maturity.Risk factors (Item 1A)
Also named by ZS
Abbott patent settlement and license agreement
We have been involved in various patent infringement actions in the past and in 2024, we entered into a settlement and license agreement with Abbott to settle all pending patent infringement legal proceedings brought by Abbott against us.Risk factors (Item 1A)
Competitors
Abbott Laboratories
competes withnamed as a riskWe have competed with Abbott and their Libre family of CGM products for many years.Business (Item 1)
Also named by EW
Medtronic (MiniMed)
competes withnamed as a riskMedtronic (MiniMed) markets and sells a standalone glucose monitoring product called Guardian Connect, both internationally and in the United States, and a disposable CGM system called Simplera in the U.S. and international markets.Business (Item 1)
Also named by GMED
Chinese CGM competitors
competes withnamed as a riskWe are also aware of emerging competitors primarily located in China.Risk factors (Item 1A)
Places
International markets (outside U.S.)
earns from · approximately 28% of our revenuenamed as a riskOur operations in countries outside the United States, which accounted for approximately 28% of our revenue for the twelve months ended December 31, 2025, are accompanied by certain financial and other risks.Risk factors (Item 1A)
Also named by ABNB, ADSK, BSX, CROX, CRWD, DOCU, EFX, FICO and 18 more
European Union
earns fromnamed as a riskWe have a significant presence in the EU, as well as significant sales in the EU, such that any changes in tax laws in the EU could impact our business.Risk factors (Item 1A)
Also named by ABBV, ADM, AVY, BA, ENB, FPI, GEHC, GS and 4 more
San Diego, California
operates innamed as a riskWildfires are also increasingly common in southern California and present risk to our headquarters and limited manufacturing operations in San Diego, California.Risk factors (Item 1A)
Penang, Malaysia
operates innamed as a riskOur Arizona facility may confront water supply issues resulting from the ongoing drought in the Western United States and our Malaysia facility may confront issues related to its construction on a reclaimed wetland and the political stability of the Malaysia government.Risk factors (Item 1A)
Mesa, Arizona
operates innamed as a riskAdditionally, the majority of our manufacturing operations are conducted at facilities located in Mesa, Arizona, and Malaysia and limited manufacturing operations in San Diego, California.Risk factors (Item 1A)
Athenry, Ireland
operates innamed as a riskWe are currently building out a new manufacturing facility in Athenry, Ireland.Business (Item 1)
Ireland and Malaysia currency exposure
exposed to its pricenamed as a riskAs we continue to expand our manufacturing sites in Ireland and Malaysia, we will be subject to additional foreign exchange currency risk.Market risk (Item 7A)
United States
concentrated inAlthough the majority of our revenue has been generated in the United States, we have expanded our operations to include additional markets in North America, Africa, Asia Pacific, Europe, Latin America and the Middle East.Business (Item 1)
Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more
Hazards
California earthquakes
operates innamed as a riskEarthquakes are of particular significance since our headquarters and limited manufacturing facilities in California are located in an earthquake-prone area.Risk factors (Item 1A)
Western United States drought
operates innamed as a riskOur Arizona facility may confront water supply issues resulting from the ongoing drought in the Western United States and our Malaysia facility may confront issues related to its construction on a reclaimed wetland and the political stability of the Malaysia government.Risk factors (Item 1A)
Commodities and inputs
Application-specific integrated circuits (ASICs)
depends onnamed as a riskHowever, we also rely on single and/or sole sources for certain components and materials used in manufacturing, such as for the application-specific integrated circuit that is incorporated into the transmitter and certain polymers used to synthesize the polymeric biointerface membranes for our products.Risk factors (Item 1A)
Polymers for sensor membranes
depends onnamed as a riskAs of December 31, 2025, those single sources include but are not limited to suppliers of application-specific integrated circuits used in our transmitters, seals used for the applicator and certain polymers used to synthesize polymeric membranes for our sensors.Business (Item 1)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskIn March 2025, we received an FDA warning letter following inspections of our facilities in San Diego, California, and Mesa, Arizona.Risk factors (Item 1A)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more
Centers for Medicare & Medicaid Services (CMS)
subject tonamed as a riskIn late 2025, CMS extended the DMEPOS competitive bidding program to include our CGMs and receivers, with contracting beginning in 2027 and payment changes taking effect in 2028.Risk factors (Item 1A)
Also named by A, ABT, AMGN, AXGN, BAX, BWIN, CNC, COO and 23 more
Laws and programs
One Big Beautiful Bill Act
subject to · reduce Medicaid spending by $1 trillionnamed as a riskDecreased federal funding and stricter eligibility requirements may result in more restrictive Medicaid programs at the state level and fewer individuals eligible for coverage, which could have an adverse impact on the number of individuals who seek to use our products and services.Risk factors (Item 1A)
Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more
Medicaid
earns from · approximately 48 statesnamed as a riskWe also have coverage under certain international markets and Medicaid coverage in approximately 48 states as of December 31, 2025.Business (Item 1)
Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, BSX, CHE and 39 more
Medicare
earns fromnamed as a riskWe have experienced, and anticipate that we will continue to experience, decreasing prices for our products due to future reimbursement changes under Medicare and pricing pressure from managed care organizations and other third-party payors.Risk factors (Item 1A)
Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, BSX, CAH and 48 more
California Consumer Privacy Act (CCPA)
subject tonamed as a riskThe effects of the CCPA and other state privacy laws are significant and have required us to modify our data processing practices, and may cause us to incur substantial costs and expenses to comply, particularly given our base of operations in California.Risk factors (Item 1A)
Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more
HIPAA
subject tonamed as a riskWe are a covered entity under HIPAA because we are a health care provider that engages in certain electronic standard transactions.Business (Item 1)
Also named by AFL, BAX, BBSI, CI, DHR, DOC, DOCN, DOCU and 19 more
EU Medical Device Regulation (MDR)
subject tonamed as a riskAs a result, medical devices certified under the former Council Directives 90/385/EEC or 93/42/EEC must now comply with the MDR by May 26, 2026, December 31, 2027, or December 31, 2028, depending on their risk classification.Business (Item 1)
Also named by ABBV, BAX, BDX, BSX, CAH, COO, EW, GEHC and 4 more
CMS DMEPOS Competitive Bidding Program
subject tonamed as a riskAs a result, we expect that Medicare reimbursement for our CGM systems will decrease beginning in 2028.Business (Item 1)
FDA general wellness device guidance (January 6, 2026)
subject tonamed as a riskSuch competitors may benefit from guidance issued on January 6, 2026 by the FDA’s Center for Devices and Radiological Health that effectively broadens the range of products that may be considered “general wellness devices,” including wearables that provide readings around bodily functions and vital signs such as heart rate, blood pressure, and blood glucose.Risk factors (Item 1A)
CMS adjunctive CGM DME rule (December 2021)
subject tonamed as a riskThis final rule expanded coverage of CGMs to include competing devices, which may continue to have a negative impact on our sales as a result of increased market competition.Risk factors (Item 1A)