Dexcom makes continuous glucose monitoring (CGM) systems — wearable biosensors that track blood glucose levels in real time, 24 hours a day. Patients wear a small sensor that reads glucose every five minutes and wirelessly transmits data to a smartphone app or receiver, providing trend alerts before dangerous highs or lows occur. Dexcom's core product is the G7, a disposable sensor/transmitter that lasts 10 days and requires no finger-stick calibration. The newer G7 15 Day extends wear to 15.5 days. Both products integrate with insulin pumps, smart pens, and third-party health apps. Dexcom also sells Stelo, an over-the-counter glucose biosensor launched in 2024 targeting prediabetes, Type 2 diabetes not on insulin, and health-conscious consumers. Dexcom's business model is driven by recurring consumable revenue — patients replace sensors every 10 or 15 days, creating a high-frequency revenue stream. Revenue growth is driven by patient base expansion, utilization rates, and insurance coverage wins, which directly determine patient affordability and adoption. The G7 15 Day is a margin expansion lever, as fewer units per patient per year are produced while monthly reimbursement stays roughly the same. Dexcom manufactures at facilities in Arizona, Malaysia, and a new facility under construction in Ireland. The U.S. generates roughly 70% of revenue, with international growing faster as coverage expands in Europe and Japan. Key growth catalysts include Medicare coverage for Type 2 non-insulin users, international expansion, and next-generation hardware including the G8, which will add multi-analyte capability.