DexCom, Inc. (Nasdaq: DXCM) today reported its unaudited financial results as of and for the quarter ended June 30, 2015.
Total revenue grew to $93.2 million for the second quarter of 2015, an increase of 59% from the same quarter in 2014. Total gross profit totaled $66.0 million for the three months ended June 30, 2015, compared to a total gross profit of $39.9 million for the three months ended June 30, 2014. The Company reported a net loss of $3.7 million, or $0.05 per share for the three months ended June 30, 2015, compared to a net loss of $6.0 million, or $0.08 per share ($0.09 on a diluted basis) for the three months ended June 30, 2014. The net loss of $3.7 million for the three months ended June 30, 2015 included $23.4 million in non-cash expenses, comprised primarily of share-based compensation, depreciation and amortization, compared to the net loss of $6.0 million for the three months ended June 30, 2014, which included $14.2 million in non-cash expenses.
Total cost of sales increased $8.3 million to $27.2 million for the second quarter of 2015 compared to $18.9 million for the same quarter in 2014, primarily due to increased volume of product sales. Research and development expense increased $9.6 million to $24.4 million for the second quarter of 2015 compared to $14.8 million for the second quarter of 2014. Changes in research and development expense included additional payroll costs and $2.7 million in additional non-cash share-based compensation. Selling, general and administrative expense increased by $14.3 million to $45.2 million for the second quarter of 2015 compared to $30.9 million for the second quarter of 2014, with the change primarily due to additional payroll and marketing costs, and $4.2 million in additional non-cash share-based compensation. As of June 30, 2015, the Company had $97.5 million in cash and marketable securities.