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Senseonics Holdings, Inc. (symbol: SENS) is a pioneering medical technology firm based in Germantown, Maryland. The company's primary focus is on developing and commercializing advanced glucose monitoring systems that significantly improve the lives of people managing diabetes. Utilizing cutting-edge fluorescence sensing technology, Senseonics has designed the Eversense Continuous Glucose Monitoring (CGM) System, recognized for being the first fully implantable CGM system. This system comprises a tiny sensor implanted under the skin, an external smart transmitter, and a user-friendly mobile application, allowing for real-time glucose monitoring without the need for a dedicated receiver.
The Eversense CGM System stands out for its accuracy and stability throughout its extended sensor life, offering continuous glucose monitoring for up to 180 days. This long-term solution provides an alternative to traditional short-term CGMs, catering to individuals who require a more stable and reliable glucose monitoring option.
Senseonics has established strong partnerships, including a notable collaboration with Ascensia Diabetes Care, which ensures that their innovative solutions reach a global audience. Their latest product, the Eversense E3 CGM System, is part of an extended assistance program known as the Eversense Payment Assistance and Simple Savings (PASS) Program. This program offers eligible individuals in the U.S. the opportunity to access the Eversense E3 systems at a significantly reduced out-of-pocket cost of $99 for each six-month period, thereby making continuous glucose monitoring more affordable.
Senseonics is committed to advancing diabetes management technology, as evidenced by their continued innovation and dedication to improving accessibility to their products. The company's forward-looking approach and strategic alliances position them as a key player in the medical technology landscape, specifically in the context of diabetes management.
Senseonics Holdings, Inc. (NYSE American: SENS) reported financial results for Q2 2024. Key highlights:
- Revenue of $4.9 million, up 18% year-over-year
- U.S. revenue increased to $3.0 million from $1.8 million in Q2 2023
- Net loss of $20.3 million, or $0.03 per share
- Cash, cash equivalents, restricted cash, and short-term investments totaled $84.9 million
The company is preparing for the Q4 2024 launch of its 365-day Eversense® CGM system, pending FDA clearance. Senseonics maintains its 2024 global net revenue outlook of $22-24 million, expecting to double U.S. new patient starts and increase the global installed base by approximately 50% compared to 2023.
Senseonics Holdings (NYSE American: SENS), a medical technology company specializing in long-term, implantable continuous glucose monitoring (CGM) systems for diabetes patients, has announced its schedule for the second quarter 2024 earnings release and conference call. The financial results will be released after market close on Thursday, August 8, 2024. A conference call to review the Q2 2024 performance will be held at 4:30 p.m. Eastern Time on the same day.
The call will be simultaneously webcast and accessible via the company's website. Investors can join the conference call by dialing 1-888-317-6003 (US/Canada) or 1-412-317-6061 (International) with passcode 4740206.
Senseonics Holdings, a medical tech company specializing in long-term, implantable continuous glucose monitoring (CGM) systems, has released its business updates and financial outlook for 2024. The first half of 2024 saw a 21% increase in net revenue to $10 million and over a 200% rise in new patient starts in the U.S. compared to the same period in 2023. The FDA review of the new 365-day Eversense system is on track for a Q4 2024 launch. Collaborations with Mercy Health are progressing with provider training and patient identification underway.
For the full year 2024, Senseonics expects global net revenue between $22 million and $24 million, with significant growth in U.S. patient starts and a 50% increase in the global installed base. However, inventory dynamics may affect Q3 sales, with an anticipated acceleration in Q4. Cash utilization is projected to remain stable at around $70 million.
Senseonics Holdings, a medical technology company specializing in long-term, implantable continuous glucose monitoring systems for diabetes patients, has announced a business update and analyst event. This will take place during the American Diabetes Association’s 84th Scientific Sessions in Orlando, FL. The event is scheduled for Sunday, June 23, 2024, with breakfast and refreshments starting at 9:15 am ET, followed by a management presentation at 10:00 am ET. Attendees can access the presentation via live and recorded webcast on the company's website. In-person attendance requires advanced registration by June 21, 2024, through emailing Hannah Jeffrey at hannah@gilmartinir.com.
Senseonics Holdings, a medical technology firm specializing in long-term, implantable continuous glucose monitoring (CGM) systems, announces its participation in the Sidoti Small Cap Conference. The event will take place virtually on June 12, 2024, at 1:45 pm ET. Management will hold one-on-one meetings and present key insights. The live and recorded webcast of the presentation will be available on the company's Investor Relations section at www.senseonics.com.
Senseonics Holdings, a medical technology firm specializing in long-term, implantable continuous glucose monitoring (CGM) systems, reported its Q1 2024 financial results.
The company achieved $5.1 million in revenue, a 22% increase compared to Q1 2023. However, gross profit declined to $0.3 million due to higher fixed manufacturing costs.
Notable achievements include the integration of Eversense CGM with Mercy health system, the FDA iCGM designation for Eversense, and the filing for the next-generation 365-day system.
Despite these advancements, the firm posted a net loss of $18.9 million, or $0.03 per share, significantly down from a $1.3 million net income in Q1 2023. First half 2024 revenue is projected at $10 million, a 16% growth year-over-year.
Senseonics (NYSE American: SENS) has announced a partnership with Mercy, a prominent health care system, to enhance diabetes population health management. This collaboration will utilize Senseonics' Eversense implantable continuous glucose monitor (CGM) technology and the new Eversense Remote Patient Monitoring (RPM) solution across Mercy's extensive network. Mercy, serving over 3 million patients annually, plans to implement the program in phases starting July, initially targeting 30,000 patients. This initiative aims to improve patient care, reduce hospitalizations, and provide personalized diabetes management, reaching full implementation by 2025.
Senseonics Holdings, Inc. (NYSE American: SENS) partners with Rimidi to develop the Eversense CGM+RPM solution, integrating glucose data into Rimidi's clinical management platform for diabetes management. The program aims to optimize care, improve patient outcomes, and reduce healthcare costs. The collaboration will offer a comprehensive diabetes solution, combining long-term implantable CGM technology with analytics and personalized health services.
Senseonics Holdings, Inc. (NYSE American: SENS) will be participating in two upcoming conferences: the RBC Capital Markets Global Healthcare Conference and the H.C. Wainwright 2nd Annual BioConnect Investor Conference in New York, NY. Management will engage in one-on-one meetings at both events, with the RBC conference scheduled for May 15, 2024, and the H.C. Wainwright conference on May 20, 2024. A live and recorded webcast of the presentation will be available on the 'Investor Relations' section of the company's website.
Senseonics Holdings, Inc. (NYSE American: SENS) is set to release its first quarter 2024 financial results on May 13, 2024, after the market closes. The company specializes in the development of long-term, implantable continuous glucose monitoring systems for individuals with diabetes. A conference call to discuss the performance is scheduled for 4:30 p.m. (Eastern Time) on the same day.
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