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  "docId": "019dd923-622c-750b-8b98-916758668d1f",
  "docSlug": "34401c2968d1",
  "documentTitle": "Dexcom, Inc. (DXCM)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-03-21 00:00:00",
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  "notes": "Uses red boxes and arrows to highlight specific cost comparisons and migration drivers.",
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      "kind": "callout",
      "text": "33% cost savings. Encouraged 70% of users (per our survey) to extend the lives of their G5 transmitters",
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      "kind": "callout",
      "text": "80% cost savings, no G6 hacking option. We believe that this will spark a material migration of Dexcom users to the Libre, which is now technologically comparable",
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      "text": "We believe that this will spark a material migration of Dexcom users to the Libre, which is now technologically comparable",
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      "text": "Sensor and Transmitter Cost to Payor per Year - Before G6 Release",
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      "text": "Sensor and Transmitter Cost to Payor per Year - After G6 Release and G5 Transmitter Repricing",
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      "kind": "metric",
      "text": "annual cost to payor: 80%",
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      "kind": "paragraph",
      "text": "Per our survey, the draw of 33% annual cost savings was enough to encourage 70% of Dexcom users to assume the risks involved in extending the lives of their sensors...",
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      "kind": "paragraph",
      "text": "Note also that the one-time up-front receiver cost of adopting the Libre is a relatively low $65, compared to $599 for the G-Series. This limits switching costs for G6 users considering the Libre...",
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      "kind": "title",
      "text": "Annual Cost Savings From Switch To Libre 2, Visualized",
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      "arcName": "Overcoming the Monster",
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      "evidence": "Spruce Point highlights the struggles Dexcom faces, including limited growth runway and unsustainable growth outlook.",
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