Senseonics Holdings, Inc. Announces Business Updates Including Preliminary 2024 Results, 365 Launch Update and Cancellation of Special Meeting
Senseonics Holdings (NYSE: SENS) announced preliminary Q4 2024 revenue of $8.3 million and full-year revenue of $22.5 million. The company reported significant growth following the FDA approval and launch of Eversense® 365, their implantable continuous glucose monitoring system.
Key achievements include a 56% increase in global patient base to 6,000, reaching over 1,000 U.S. prescribers in 2024. Post-launch indicators show doubled Direct to Consumer leads in Q4, record-high monthly patient shipments of 600 in December, and a 49% increase in patients switching from competitors. The company maintained approximately $74.9 million in cash and equivalents as of December 31, 2024.
Senseonics canceled its planned Special Meeting for a reverse stock split, citing recent share price appreciation. The company expects positive revenue growth in 2025, with detailed guidance to be provided with full fiscal year 2024 results.
Senseonics Holdings (NYSE: SENS) ha annunciato un fatturato preliminare per il quarto trimestre 2024 di 8,3 milioni di dollari e un fatturato totale annuo di 22,5 milioni di dollari. L'azienda ha riportato una crescita significativa dopo l'approvazione della FDA e il lancio di Eversense® 365, il loro sistema impiantabile di monitoraggio continuo della glicemia.
Tra i risultati chiave si evidenzia un incremento del 56% nella base globale di pazienti, raggiungendo i 6.000, con oltre 1.000 prescrittori negli Stati Uniti nel 2024. Gli indicatori post-lancio mostrano un raddoppio delle richieste dirette al consumatore nel quarto trimestre, spedizioni mensili di pazienti mai registrate prima, con 600 nel mese di dicembre, e un aumento del 49% nei pazienti che passano da concorrenti. L'azienda ha mantenuto circa 74,9 milioni di dollari in contante e equivalenti al 31 dicembre 2024.
Senseonics ha annullato la sua riunione speciale pianificata per una fusione inversa delle azioni, citando l'apprezzamento recente del prezzo delle azioni. L'azienda prevede una crescita positiva del fatturato nel 2025, con indicazioni dettagliate che saranno fornite con i risultati complessivi dell'anno fiscale 2024.
Senseonics Holdings (NYSE: SENS) anunció ingresos preliminares del cuarto trimestre de 2024 de 8,3 millones de dólares y un ingreso anual total de 22,5 millones de dólares. La compañía reportó un crecimiento significativo tras la aprobación de la FDA y el lanzamiento de Eversense® 365, su sistema implantable de monitoreo continuo de glucosa.
Logros clave incluyen un aumento del 56% en la base global de pacientes, alcanzando 6.000, superando los 1.000 prescriptores en EE. UU. en 2024. Los indicadores post-lanzamiento muestran un doble aumento en los leads directos al consumidor en el cuarto trimestre, envíos mensuales de pacientes récord de 600 en diciembre, y un aumento del 49% en pacientes que cambian de competidores. La compañía mantuvo aproximadamente 74,9 millones de dólares en efectivo y equivalentes al 31 de diciembre de 2024.
Senseonics canceló su reunión especial planificada para una división de acciones inversa, citando la reciente apreciación del precio de las acciones. Se espera que la compañía tenga un crecimiento positivo en ingresos en 2025, con orientaciones detalladas que se proporcionarán con los resultados fiscales del año 2024.
센소니콘스 홀딩스 (NYSE: SENS)는 2024년 4분기 예상 수익이 830만 달러, 연간 수익이 2,250만 달러라고 발표했습니다. 이 회사는 Eversense® 365의 FDA 승인 및 출시 이후 상당한 성장을 보고했습니다. 이 제품은 이식형 지속 혈당 모니터링 시스템입니다.
주요 성과로는 전 세계 환자 수가 56% 증가하여 6,000명에 도달하고, 2024년에는 미국 내 1,000명 이상의 처방자가 도달했습니다. 출시 이후 지표는 4분기 동안 소비자 직접 유입이 두 배로 증가하고, 12월에는 600건의 월간 환자 배송 기록을 세우며, 경쟁업체에서 전환한 환자가 49% 증가했습니다. 회사는 2024년 12월 31일 기준으로 약 7490만 달러의 현금 및 현금성 자산을 보유하고 있었습니다.
센소니콘스는 최근 주가 상승을 언급하며 예정되었던 역주식 분할 특별 회의를 취소했습니다. 이 회사는 2025년에 긍정적인 수익 성장을 예상하며, 2024 회계연도 전체 결과와 함께 자세한 지침이 제공될 예정입니다.
Senseonics Holdings (NYSE: SENS) a annoncé des revenus préliminaires de 8,3 millions de dollars pour le quatrième trimestre 2024 et des revenus annuels totaux de 22,5 millions de dollars. L'entreprise a enregistré une croissance significative suite à l'approbation de la FDA et au lancement de Eversense® 365, leur système de surveillance continue de la glycémie implantable.
Les réalisations clés incluent une augmentation de 56 % du nombre de patients dans le monde, atteignant 6 000, et plus de 1 000 prescripteurs aux États-Unis en 2024. Les indicateurs post-lancement montrent un doublement des leads Direct to Consumer au quatrième trimestre, un envoi mensuel record de 600 patients en décembre, et une augmentation de 49 % des patients changeant de concurrents. L'entreprise a maintenu environ 74,9 millions de dollars en liquidités et équivalents au 31 décembre 2024.
Senseonics a annulé sa réunion spéciale prévue pour une division inversée de ses actions, invoquant l'appréciation récente du prix de l'action. L'entreprise s'attend à une croissance positive des revenus en 2025, avec des prévisions détaillées qui seront fournies avec les résultats financiers complets de l'exercice 2024.
Senseonics Holdings (NYSE: SENS) gab vorläufige Einnahmen von 8,3 Millionen US-Dollar im vierten Quartal 2024 und Gesamteinnahmen von 22,5 Millionen US-Dollar für das Jahr bekannt. Das Unternehmen berichtete von einem signifikanten Wachstum nach der Genehmigung durch die FDA und dem Launch von Eversense® 365, ihrem implantierbaren kontinuierlichen Glukosemonitoringsystem.
Zu den wichtigsten Erfolgen gehören eine 56%ige Steigerung der globalen Patientenbasis auf 6.000 sowie über 1.000 Verschreiber in den USA im Jahr 2024. Die Indikatoren nach dem Launch zeigen eine Verdopplung der Direktanfragen von Verbrauchern im Q4, Rekordmarken bei der monatlichen Patientenversendung von 600 im Dezember sowie einen Anstieg von 49% bei Patienten, die von Wettbewerbern wechseln. Das Unternehmen hielt zum 31. Dezember 2024 etwa 74,9 Millionen US-Dollar an liquiden Mitteln und Äquivalenten.
Senseonics hat die geplante außerordentliche Hauptversammlung zur Umkehraktien-Teilung abgesagt und hierzu die jüngste Wertsteigerung seiner Aktien angesprochen. Das Unternehmen erwartet ein positives Umsatzwachstum im Jahr 2025, mit detaillierten Prognosen, die mit den vollständigen Ergebnissen des Geschäftsjahres 2024 veröffentlicht werden.
- FDA approval and successful launch of Eversense 365 CGM system
- 56% increase in global patient base to 6,000 users
- 100% increase in Direct to Consumer leads in Q4
- Record-high monthly new patient shipments (600) in December
- 49% increase in patients switching from competitive CGMs
- 118% increase in patient referrals since launch
- Strong cash position of $74.9 million as of December 31, 2024
- Relatively small revenue base ($22.5 million for full year 2024)
- global patient base of only 6,000 users despite growth
Insights
The preliminary 2024 results and Eversense 365 launch metrics reveal significant operational momentum. Q4 revenue of
The Eversense 365's launch metrics are particularly compelling: doubled DTC leads, record 600 monthly new patients in December and a
The cancellation of the reverse stock split meeting signals improved market confidence, with share price appreciation eliminating the immediate need for this corporate action. The company's strategic partnerships with Ascensia's CGM division and Mercy health system position it well in the competitive CGM landscape.
The
The Q4 revenue performance indicates accelerating commercial traction, with December's record patient shipments suggesting positive momentum entering 2025. The sustained cash position of
The decision to cancel the reverse split reflects improved market sentiment and share price performance. The company's focus on multiple growth vectors - DTC marketing, healthcare system partnerships and international expansion - presents diversified revenue opportunities. The planned 2025 guidance, incorporating Ascensia's fiscal planning and marketing investments, suggests confidence in continued growth trajectory.
GERMANTOWN, Md., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced operational, financial and other business updates.
Recent Highlights & Accomplishments
- Generated preliminary unaudited fourth quarter revenue of approximately
$8.3 million , and preliminary unaudited full year 2024 total revenue of approximately$22.5 million - Received FDA approval for Eversense® 365 Continuous Glucose Monitoring system and launched Eversense 365 with commercial partner, Ascensia.
- Patient base increased
56% in 2024 over 2023 to approximately 6,000 global patients - Reached a milestone of over a 1,000 annual U.S. Eversense prescribers during 2024
- Continued strong interest in Eversense 365, as evidenced by the following early U.S. launch performance indicators:
- Direct to Consumer (DTC) leads have doubled in Q4 compared to the pre-launch third quarter
- New patient shipments of approximately 600 in December were the highest monthly total in the Company’s history
- The number of patients switching to Eversense from competitive CGM’s has increased
49% since Eversense 365 launch 118% increase in patient referrals from physicians since launch
- Following recent appreciation in Company’s share price, determined not to proceed with previously announced Special Meeting of stockholders to consider reverse stock split.
“2024 was a tremendous year for Senseonics, achieving our long-term goal of commercializing the Eversense 365 product, providing people with diabetes a convenient and accurate solution for monitoring blood glucose for an entire year with a single sensor. Additionally, we’ve strengthened our position in the marketplace through the newly created CGM division of our commercial partner, Ascensia, and our partnership with Mercy health system, targeted to proactively improve health outcomes and decrease overall systemwide costs for people with diabetes,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Patient and provider leads, conversion rates, and interest from health systems have all increased significantly since the U.S. 365 launch, culminating in the highest number of monthly new patient shipments in December 2024, and we expect to see those numbers continue to accelerate in 2025. We also expect to provide updates on pump-connectivity, additional health care systems and our ex-US launch over the course of the year.”
2024 Financial Results
The Company currently expects to report revenues of approximately
Cancellation of Special Meeting of Stockholders
The Company has determined not to proceed with the Special Meeting, scheduled for January 10, 2025, for the purpose of seeking shareholder approval of a proposed reverse stock split within the range of 25:1 to 50:1. Since announcing the proposed stock split on November 19, 2024 in parallel with the ongoing launch of the 365-day product the Company’s share price has increased. As of January 7, 2025, proxies had been received from sufficient stockholders to constitute a quorum for the meeting, with a majority of such shares voting in favor of the proposed reverse stock split as of such date. However, after assessing the pricing implications of a reverse split at the lowest end of the proposed range of stock splits, and taking into consideration shareholder feedback regarding conducting a reverse split of at this time, the Company determined not to proceed with the Special Meeting and the proposed reverse stock split.
Considerations for 2025 Growth Outlook
The Company also plans to provide financial guidance for 2025 in conjunction with its reporting of full fiscal year 2024 financial results. The Company currently expects that the 2025 guidance will reflect positive revenue growth in 2025 over 2024, taking into account the following factors, among others: (i) Ascensia’s completion of financial forecasts for their fiscal year beginning on April 1st, 2025, (ii) plans with respect to spending on the DTC marketing campaign to generate leads, (iii) the status of other sales and marketing initiatives, and (iv) refined visibility of the timeline and specifications for the regulatory submission and the plans for commercial transition to Eversense 365 outside the United States.
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
About Eversense
The Eversense® Continuous Glucose Monitoring (CGM) Systems are indicated for continually measuring glucose levels for up to 365 days for Eversense® 365 and 180 days for Eversense® E3 in persons with diabetes age 18 and older. The systems are indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time per week after day 13 for Eversense® 365 and one time per day after day 21 for Eversense® E3, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense CGM Systems are prescription devices; patients should talk to their health care provider to learn more. For important safety information, see https://www.eversensediabetes.com/safety-info/.
About Ascensia Diabetes Care
Ascensia Diabetes Care is a global company focused entirely on helping people with diabetes. Our mission is to empower those living with diabetes through innovative solutions that simplify and improve their lives.
We are home to the world-renowned CONTOUR® portfolio of blood glucose monitoring systems and the exclusive global distribution partner for the Eversense® Continuous Glucose Monitoring Systems from Senseonics. These products combine advanced technology with user-friendly functionality to help people with diabetes manage their condition and make a positive difference to their lives. As a trusted partner in the diabetes community, we collaborate closely with healthcare professionals and other partners to ensure our products meet the highest standards of accuracy, precision and reliability, and that we conduct our business compliantly and with integrity.
Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia products are sold in more than 100 countries. Ascensia has around 1,400 employees and operations in 29 countries.
For further information, please visit the Ascensia Diabetes Care website at: http://www.ascensia.com.
About PHC Holdings Corporation
PHC Holdings Corporation (TSE 6523) is a global healthcare company with a mission of contributing to the health of society through healthcare solutions that have a positive impact and improve the lives of people. Its subsidiaries (referred to collectively as PHC Group) include PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia Holdings Ltd., LSI Medience Corporation, Mediford Corporation, and Wemex. Together, these companies develop, manufacture, sell and service solutions across diabetes management, healthcare solutions, life sciences and diagnostics. PHC Group’s consolidated net sales in FY2023 were JPY 353.9 billion with global distribution of products and services in more than 125 countries. www.phchd.com
©2024 Ascensia Diabetes Care Holdings AG. All right reserved. Ascensia, the Ascensia Diabetes Care logo and Contour are trademarks and/or registered trademarks of Ascensia Diabetes Care Holdings AG.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including the anticipated level of fourth quarter 2024 and full year 2024 revenue and cash, cash equivalents and restricted cash as of December 31, 2024, and projected 2025 financial performance described in “Considerations for 2025 Growth Outlook,” statements regarding the expected acceleration of patient and provider leads, conversion rates, and interest from health systems in 2025, statements regarding pump-connectivity, additional health care systems and the Company’s ex-US launch of the 365-day system, and other statements containing the words "believe," “expect,” “intend,” “may,” “projects,” “will,” “planned,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the financial close process in connection with the finalization of the Company’s 2024 financial statements, as well as the audit of such financial statements by the Company’s independent registered public accounting firm, the execution of the independent business unit of Ascensia Diabetes Care, the Company’s commercialization partner for Eversense, and other commercial initiatives, uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties inherent in the development and registration and roll-out of new technology and solutions, uncertainties inherent in finalizing integration and commercial terms and coordinations with health systems and other new collaboration partners and third parties, uncertainties inherent in the ongoing commercialization of the Eversense product and the expansion of the Eversense product and Senseonics’ activities, uncertainties relating to the current economic environment and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2023, Senseonics’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and subsequent reports filed with the SEC under the heading "Risk Factors."
The preliminary financial information and outlook presented in this release are estimates based on information available to management as of the date of this release, have not been reviewed or audited by the Company’s independent registered public accounting firm and are subject to change. There can be no assurance that the Company’s actual audited financial results as of and for the full year ended December 31, 2024 will not differ from the preliminary financial information presented in this release. The preliminary financial information presented in this release should not be viewed as a substitute for full financial statements prepabed in accordance with GAAP and audited by the Company’s independent registered public accounting firm. In addition, the forward-looking statements included in this press release represent Senseonics’ views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics’ views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics’ views as of any date subsequent to the date hereof.
Senseonics Investor Contact
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com
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