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  "docId": "019dd923-622c-750b-8b98-916758668d1f",
  "docSlug": "34401c2968d1",
  "documentTitle": "Dexcom, Inc. (DXCM)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-03-21 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 42,
  "pageCount": 83,
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  "slideType": "comparison_table",
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  "density": "dense",
  "nDataPoints": 60,
  "notes": "The slide uses a comparison table to argue for a product switch based on cost-benefit analysis.",
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      "kind": "callout",
      "text": "If, per our survey, 70% of G5 users were willing to assume the risks involved in hacking their transmitters for the sake of 33% annual cost savings, we suspect that a material proportion of Dexcom G-Series users will be willing to switch to the now-comparable Libre 2 for the sake of over 80% annual cost savings.",
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      "kind": "metric",
      "text": "Sensor and Transmitter Cost to Payor per Year: 81%",
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      "kind": "paragraph",
      "text": "By extending sensor life to an average of 12 days, consumers saved an average of 33% on annual CGM costs. This was enough incentive for 70% of users (per our survey) to assume the risks involved in hacking sensors.",
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      "kind": "paragraph",
      "text": "As of today, the Dexcom user community is still searching for ways to hack the G6, and G5 transmitters have been re-priced such that there are virtually no savings to be had from continuing to use the G5 with hacked transmitters versus switching to the G6. However, opting for the now technologically-similar Libre 2 would save the consumer over 80% per year versus using the G6.",
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      "kind": "source-note",
      "text": "1. Dexcom recently increased the price of its G5 transmitters from $300 to $599 to encourage all G5 users (including \"hackers\") to switch to the G6. 2. Average G5 sensor life of 12 days when \"hackers\" are included, per our survey.",
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      "kind": "table",
      "text": "Comparison table of Dexcom G5/G6 vs Abbott Libre 2 costs",
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      "kind": "title",
      "text": "Questions Over Ability To Hack G6 Should Encourage Dexcom Users To Switch To The Libre",
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      "evidence": "Spruce Point highlights the struggles Dexcom faces, including limited growth runway and unsustainable growth outlook.",
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