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GERMANTOWN, Md. - Senseonics Holdings (NYSE:SENS), Inc. (NYSE American: SENS), a medical technology company specializing in implantable continuous glucose monitoring (CGM) systems, reported fourth-quarter earnings that exceeded analyst expectations, sending its shares up 4.6% in after-hours trading.
The company posted a loss of $0.02 per share for the fourth quarter, beating the analyst estimate of a $0.03 loss. Revenue for the quarter came in at $8.3 million, surpassing the consensus estimate of $7.79 million and representing a 3.75% increase from $8.0 million in the same quarter last year.
Senseonics’ patient base grew significantly in 2024, increasing 56% YoY to approximately 6,000 global patients. The company attributed this growth to the successful launch of its Eversense 365 CGM system in the U.S., which received FDA approval as an integrated continuous glucose monitoring system for people with Type 1 and Type 2 diabetes.
Tim Goodnow, President and CEO of Senseonics, commented on the results, stating, "We took a giant step forward in diabetes care in 2024, delivering on our promise of One Year, One CGM, with the Eversense 365 CGM system. The feedback we have received from patients and providers has been very positive, and we are just getting started."
For the full year 2024, Senseonics reported total revenue of $22.5 million, a slight increase from $22.4 million in 2023. The company’s gross profit for 2024 was $0.5 million, down from $3.1 million in the previous year, primarily due to one-time charges related to the transition from Eversense E3 to Eversense 365.
Looking ahead, Senseonics provided guidance for full-year 2025 global net revenue of approximately $34-38 million, anticipating a doubling of its global patient base. The company expects gross margins to increase throughout 2025, projecting between 25-30% for the year.
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