Senseonics Holdings Inc. ( (SENS) ) has released its Q4 earnings. Here is a breakdown of the information Senseonics Holdings Inc. presented to its investors.
Senseonics Holdings, Inc. is a medical technology company specializing in the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for diabetes management.
In its latest earnings report, Senseonics announced FDA approval and the U.S. launch of its Eversense 365 CGM system, marking a significant milestone for the company. The patient base grew by 56% in 2024, reaching approximately 6,000 global patients, reflecting strong market demand.
Key financial highlights include a revenue of $8.3 million for Q4 2024, a slight increase from $8.0 million in the same quarter of 2023. The company reported a net loss of $15.5 million for Q4 2024, an improvement from a $17.2 million loss in Q4 2023, attributed to improved gross profit margins. For the full year 2024, revenue was $22.5 million, with a net loss of $78.6 million, driven by increased expenses and strategic investments.
Senseonics has initiated a restructuring process to reduce cash operating expenses by $10 million in 2025. The company also raised over $47 million from equity offerings to strengthen its balance sheet, aiming to support the continued rollout of Eversense 365.
Looking ahead, Senseonics projects global net revenue of $34-38 million for 2025, with expectations of doubling its global patient base. The company anticipates increased gross margins and continues to focus on expanding its market presence and enhancing its product offerings.