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Side-by-side financial comparison of Maplebear Inc. (CART) and Dexcom (DXCM). Click either name above to swap in a different company.
Dexcom is the larger business by last-quarter revenue ($1.3B vs $992.0M, roughly 1.3× Maplebear Inc.). Dexcom runs the higher net margin — 21.2% vs 8.2%, a 13.1% gap on every dollar of revenue. On growth, Dexcom posted the faster year-over-year revenue change (21.6% vs 12.3%). Over the past eight quarters, Dexcom's revenue compounded faster (12.0% CAGR vs 10.0%).
Maplebear Inc., doing business as Instacart, is an American retail media and delivery company based in San Francisco that operates a grocery delivery and pick-up service in the United States and Canada accessible via a website and mobile app. It allows customers to order groceries, and alcohol where legal, from participating retailers with the shopping being done by a personal shopper, who picks, packs, and delivers the order.
Dexcom, Inc. is an American multinational healthcare company that develops, manufactures, produces and distributes a line of continuous glucose monitoring (CGM) systems for diabetes management. It operates internationally with global headquarters and R&D center in San Diego, California, U.S.A. and manufacturing facilities in Mesa, Arizona, U.S.A.; Batu Kawan, Malaysia and Athenry, County Galway, Ireland.
CART vs DXCM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.3B |
| Net Profit | $81.0M | $267.3M |
| Gross Margin | 72.3% | 62.9% |
| Operating Margin | 9.9% | 25.6% |
| Net Margin | 8.2% | 21.2% |
| Revenue YoY | 12.3% | 21.6% |
| Net Profit YoY | -45.3% | 153.6% |
| EPS (diluted) | $0.31 | $0.67 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.3B | ||
| Q4 25 | $992.0M | $1.3B | ||
| Q3 25 | $939.0M | $1.2B | ||
| Q2 25 | $914.0M | $1.2B | ||
| Q1 25 | $897.0M | $1.0B | ||
| Q4 24 | $883.0M | $1.1B | ||
| Q3 24 | $852.0M | $994.2M | ||
| Q2 24 | $823.0M | $1.0B |
| Q1 26 | — | $267.3M | ||
| Q4 25 | $81.0M | $267.3M | ||
| Q3 25 | $144.0M | $283.8M | ||
| Q2 25 | $116.0M | $179.8M | ||
| Q1 25 | $106.0M | $105.4M | ||
| Q4 24 | $148.0M | $151.7M | ||
| Q3 24 | $118.0M | $134.6M | ||
| Q2 24 | $61.0M | $143.5M |
| Q1 26 | — | 62.9% | ||
| Q4 25 | 72.3% | 62.9% | ||
| Q3 25 | 73.7% | 60.5% | ||
| Q2 25 | 74.2% | 59.5% | ||
| Q1 25 | 74.8% | 56.9% | ||
| Q4 24 | 75.2% | 58.9% | ||
| Q3 24 | 75.2% | 59.7% | ||
| Q2 24 | 75.7% | 62.4% |
| Q1 26 | — | 25.6% | ||
| Q4 25 | 9.9% | 25.6% | ||
| Q3 25 | 17.7% | 20.1% | ||
| Q2 25 | 13.6% | 18.4% | ||
| Q1 25 | 12.3% | 12.9% | ||
| Q4 24 | 17.6% | 17.0% | ||
| Q3 24 | 16.2% | 15.3% | ||
| Q2 24 | 6.3% | 15.7% |
| Q1 26 | — | 21.2% | ||
| Q4 25 | 8.2% | 21.2% | ||
| Q3 25 | 15.3% | 23.5% | ||
| Q2 25 | 12.7% | 15.5% | ||
| Q1 25 | 11.8% | 10.2% | ||
| Q4 24 | 16.8% | 13.6% | ||
| Q3 24 | 13.8% | 13.5% | ||
| Q2 24 | 7.4% | 14.3% |
| Q1 26 | — | $0.67 | ||
| Q4 25 | $0.31 | $0.67 | ||
| Q3 25 | $0.51 | $0.70 | ||
| Q2 25 | $0.41 | $0.45 | ||
| Q1 25 | $0.37 | $0.27 | ||
| Q4 24 | $0.53 | $0.37 | ||
| Q3 24 | $0.42 | $0.34 | ||
| Q2 24 | $0.20 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $687.0M | $917.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.7B |
| Total Assets | $3.7B | $6.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $917.7M | ||
| Q4 25 | $687.0M | $917.7M | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.6B | $904.9M | ||
| Q4 24 | $1.4B | $606.1M | ||
| Q3 24 | $1.3B | $621.2M | ||
| Q2 24 | $1.4B | $939.2M |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $3.5B | $2.7B | ||
| Q2 25 | $3.3B | $2.6B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $3.1B | $2.1B | ||
| Q3 24 | $2.9B | $2.0B | ||
| Q2 24 | $3.0B | $2.4B |
| Q1 26 | — | $6.3B | ||
| Q4 25 | $3.7B | $6.3B | ||
| Q3 25 | $4.5B | $7.5B | ||
| Q2 25 | $4.4B | $7.3B | ||
| Q1 25 | $4.3B | $6.8B | ||
| Q4 24 | $4.1B | $6.5B | ||
| Q3 24 | $3.9B | $6.4B | ||
| Q2 24 | $4.0B | $6.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $183.0M | — |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $183.0M | $294.0M | ||
| Q3 25 | $287.0M | $659.9M | ||
| Q2 25 | $203.0M | $303.0M | ||
| Q1 25 | $298.0M | $183.8M | ||
| Q4 24 | $153.0M | $301.4M | ||
| Q3 24 | $185.0M | $199.5M | ||
| Q2 24 | $244.0M | $279.4M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $192.1M | ||
| Q3 25 | $272.0M | $579.4M | ||
| Q2 25 | $187.0M | $208.9M | ||
| Q1 25 | $280.0M | $96.8M | ||
| Q4 24 | $141.0M | $176.8M | ||
| Q3 24 | $171.0M | $88.3M | ||
| Q2 24 | $220.0M | $213.3M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | 15.3% | ||
| Q3 25 | 29.0% | 47.9% | ||
| Q2 25 | 20.5% | 18.1% | ||
| Q1 25 | 31.2% | 9.3% | ||
| Q4 24 | 16.0% | 15.9% | ||
| Q3 24 | 20.1% | 8.9% | ||
| Q2 24 | 26.7% | 21.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 8.1% | ||
| Q3 25 | 1.6% | 6.7% | ||
| Q2 25 | 1.8% | 8.1% | ||
| Q1 25 | 2.0% | 8.4% | ||
| Q4 24 | 1.4% | 11.2% | ||
| Q3 24 | 1.6% | 11.2% | ||
| Q2 24 | 2.9% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 1.10× | ||
| Q3 25 | 1.99× | 2.33× | ||
| Q2 25 | 1.75× | 1.69× | ||
| Q1 25 | 2.81× | 1.74× | ||
| Q4 24 | 1.03× | 1.99× | ||
| Q3 24 | 1.57× | 1.48× | ||
| Q2 24 | 4.00× | 1.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
DXCM
Segment breakdown not available.
