Senseonics Holdings Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 60% year-over-year to $35.3M in 2025, with gross margin exceeding 50% and patient base doubling in the U.S. The company expects 2026 revenue of $58–$62M, driven by European expansion, new product launches, and continued DTC investment.
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A 365-day CGM sensor is driving a shift to a direct sales model in 2026, expected to boost revenue and margins. DTC campaigns and a growing nurse network are fueling rapid patient growth, while new products and pump integrations expand future opportunities.
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Q3 2025 saw 90% revenue growth, record new patient starts, and margin expansion driven by Eversense 365 adoption and DTC marketing. Commercialization transition from Ascensia is on track, with 2025 revenue guidance at $35M and gross margins set to rise further.
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Eversense 365 commercialization will transition in-house by 2026, ending the Ascensia partnership and enabling higher margins, direct investment, and unified control. Strong growth momentum continues, with record patient starts and expanded DTC efforts, while financial guidance and funding outlook remain robust.
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Q2 revenue grew 37% year-over-year to $6.6M, driven by Eversense 365 adoption and expanded DTC marketing. Net loss narrowed to $14.5M, and full-year revenue is guided at $34–38M with gross margin of 32.5–37.5%. Cash position strengthened to $126.7M.
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Eversense 365 CGM launch and integration with Sequel's Twist pump drove 24% revenue growth in Q1 2025, with strong U.S. adoption and rapid payer transitions. 2025 guidance is reiterated, targeting $34–38 million in revenue and a doubling of the global patient base.
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A one-year implantable CGM is gaining traction in a $12B+ market, with strong payer coverage, a robust commercial partnership, and a pipeline of next-gen products. Patient base is expected to double, targeting profitability by 2027, with new launches and hospital integrations ahead.
Fiscal Year 2024
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Eversense 365's U.S. launch drove strong patient and prescriber growth, with 2024 revenue steady at $22.5M and gross profit impacted by one-time transition costs. 2025 guidance targets $34–38M revenue, doubling the patient base, and improved margins, with a European launch planned for H2.
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Q3 results met expectations, driven by the transition to a 365-day CGM, which has seen strong early adoption, especially among Type 2 diabetics. Strategic partnerships, expanded inserter networks, and a robust product pipeline—including the Gemini sensor—position the company for significant growth in 2025 and beyond.
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FDA approval and U.S. launch of Eversense 365 drove record lead generation and strong early feedback. Q3 revenue declined due to inventory transition, but full-year sales are expected to accelerate as 365 adoption ramps and gross margins improve, with restructuring extending cash runway.
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Q2 2024 saw 18% revenue growth year-over-year, driven by strong U.S. patient adoption and strategic initiatives, including the upcoming 365-day CGM launch and partnerships like Mercy Health. Full-year revenue is projected at $22–24 million, with Q4 acceleration expected.
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CGM market growth is accelerating, driven by payer support and patient demand for longer-lasting, discreet sensors. The company is launching a 365-day sensor, advancing next-gen products, and expanding partnerships with major healthcare systems and distributors.