Senseonics Holdings, Inc. Reports First Quarter Financial Results

Core Insights - Senseonics Holdings, Inc. reported a first quarter revenue of $6.3 million, representing a year-over-year growth of 24% from $5.0 million in Q1 2024 [4] - The company has partnered with Sequel to integrate its twiist™ automated insulin delivery system with the Eversense® 365 continuous glucose monitor, with a launch expected in Q3 2025 [1][9] - The company aims to improve access and flexibility for diabetes patients through its Eversense platform, with significant milestones achieved in reimbursement and product development [3] Financial Performance - Total revenue for Q1 2025 was $6.3 million, with U.S. revenue at $4.5 million and international revenue at $1.8 million, compared to $3.7 million and $1.3 million respectively in Q1 2024 [4] - Gross profit for Q1 2025 was $1.5 million, up from $0.3 million in Q1 2024, driven by increased margins on the 365-day product [5] - The net loss for Q1 2025 was $14.3 million, a reduction from a net loss of $18.9 million in Q1 2024, attributed to improved gross profit margins and reduced R&D costs [7] Expense Management - Selling, general and administrative expenses decreased by $0.4 million year-over-year to $7.7 million, primarily due to lower personnel costs and consulting fees [5] - Research and development expenses decreased by $3.1 million year-over-year to $7.3 million, mainly due to reduced spending on clinical studies following the completion of trials for the 365-day product [6] Future Outlook - The company expects full-year 2025 global net revenue to be approximately $34-38 million, anticipating a doubling of its global patient base [8] - Gross margins are projected to increase throughout 2025, with expectations of reaching between 25% and 30% for the full year [10] - Cash used in operations for 2025 is expected to be between $50 million and $60 million [10]