{
  "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": 8,
  "pageCount": 83,
  "prevPage": 7,
  "nextPage": 9,
  "slideType": "market_sizing",
  "function": "size_opportunity",
  "density": "dense",
  "nDataPoints": 10,
  "notes": "Uses a combination of bar charts for market penetration and pie charts for incremental share to calculate a final 'runway' figure.",
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  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-916758668d1f/8",
  "deckHref": "/decks/019dd923-622c-750b-8b98-916758668d1f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-916758668d1f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-916758668d1f#slide-8",
  "components": [
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        "x": 0.19,
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      "kind": "callout",
      "text": "143K remaining U.S. patients for Dexcom at prevailing incremental market share levels",
      "attrs": null,
      "subkind": "primary",
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      "kind": "chart",
      "text": "Remaining U.S. T1 Market Opportunity",
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      "subkind": "bar-stacked",
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      "kind": "chart",
      "text": "Remaining U.S. Insulin-Dependent T2 Market Opportunity",
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      "kind": "chart",
      "text": "RECENT U.S. T1 INCREMENTAL MARKET SHARE",
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      "kind": "chart",
      "text": "RECENT U.S. T2 INCREMENTAL MARKET SHARE",
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    {
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      "kind": "metric",
      "text": "patient runway: 143K",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
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      "componentId": "019dd952-f5d2-7501-bd87-a1f43e29061d",
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      "kind": "paragraph",
      "text": "After just one year on the market, Abbott's FreeStyle Libre already has 25% of the U.S. T1 CGM market and a whopping 82% of the U.S. T2 CGM market...",
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      "kind": "source-note",
      "text": "Source: Spruce Point Estimates",
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      "kind": "title",
      "text": "Remaining Growth Runway In Dexcom's Target U.S. Market Is Severely Limited",
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  "metrics": [],
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  "frameworks": [
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      "matchId": "84ac5b27-55ad-4950-ab83-3030c2fb3ff9",
      "evidence": "Calculates total addressable market runway based on current share and penetration.",
      "confidence": 0.9
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      "beatId": "bceaf7b2-e6b0-4b8d-96ae-991272dd6aa1",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Complication",
      "beatSlug": "complication",
      "evidence": "Spruce Point presents several complications, including the market's misinterpretation of Dexcom's sales growth and limited patient growth.",
      "position": 1,
      "confidence": 0.8,
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  "loops": [
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      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "ec60a922-a471-43e6-9110-ad29b38faf08",
      "evidence": "The deck presents several contradictions in Dexcom's growth story, highlighting the market's misinterpretation.",
      "position": 0,
      "objective": "Identify patterns in Dexcom's growth story that contradict the market's interpretation.",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 0.7,
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