(Reuters) – Medical device maker Dexcom beat Wall Street estimates for third-quarter revenue on Thursday, helped by resilient demand for its continuous glucose monitors for diabetes patients.
However, the company reiterated its full-year sales forecast of about $4 billion to $4.05 billion, sending its shares declines nearly 16% after the bell.
Dexcom said Chief Commercial Officer Teri Lawver would retire at the end of the year.
The company in July slashed its annual revenue forecast, blaming a restructuring of its sales team, fewer customers, and lower revenue from each customer, sending its shares to a four-year low. Shares are down 40% so far this year.
Dexcom reported third-quarter revenue of $994.2 million, beating analysts’ estimates of $990.7 million, according data from LSEG.
(Reporting by Sneha S K and Bhanvi Satija in Bengaluru; Editing by Sriraj Kalluvila)