Senseonics(SENS)2024-08-08 20:10Revenue and Growth - Generated revenue of $4.9 million in Q2 2024, representing an 18% growth compared to the prior year period[2] - U.S. revenue was $3.0 million in Q2 2024, up from $1.8 million in Q2 2023, while international revenue was $1.9 million, down from $2.3 million in the prior year period[3] - Total revenue for June 2024 increased to $4.865 million, up from $4.126 million in June 2023[11] - Net revenue from related parties rose to $4.087 million in June 2024, compared to $3.689 million in June 2023[11] - Full-year 2024 global net revenue is expected to be in the range of $22 million to $24 million, with U.S. new patient starts projected to more than double and the global installed base to increase by approximately 50% compared to 2023[7] Profit and Loss - Gross profit decreased to $0.3 million in Q2 2024 from $0.4 million in Q2 2023, primarily due to increased fixed manufacturing costs[3] - Gross profit for June 2024 decreased to $0.298 million from $0.417 million in June 2023[11] - Net loss was $20.3 million in Q2 2024, slightly improved from $20.4 million in Q2 2023, driven by reduced R&D expenses[4] - Operating loss for June 2024 was $19.493 million, slightly improved from $19.868 million in June 2023[11] - Net loss for June 2024 was $20.287 million, compared to $20.423 million in June 2023[11] - Total comprehensive loss for June 2024 was $20.292 million, slightly better than $20.323 million in June 2023[11] - Basic net loss per common share was $0.03 in June 2024, improved from $0.04 in June 2023[11] - Diluted net loss per common share was $0.03 in June 2024, improved from $0.04 in June 2023[11] Cash and Financial Position - Cash, cash equivalents, short-term investments, and restricted cash totaled $84.9 million as of June 30, 2024, with outstanding indebtedness of $56.2 million[4] Research and Development - Research and development expenses dropped to $10.8 million in June 2024 from $12.83 million in June 2023[11] - Began first-in-human testing for the Gemini System, a fully implantable self-powering system for type 2 diabetes patients[2] Product Development and Launches - The 365-day Eversense system is under FDA review, with a planned product launch in Q4 2024[2] - Collaboration with Mercy healthcare system aims for large-scale implementation of Eversense and remote patient monitoring services, with initial insertions planned for Q3 2024[2] - Established Eon Care Services to provide Eversense insertion procedures and training, supporting expanded access to the product[2] Share Information - Basic weighted-average shares outstanding increased to 616,585,664 in June 2024 from 567,125,022 in June 2023[11]