Senseonics Holdings, Inc. Reports Second Quarter Financial Results

Core Insights - Senseonics Holdings, Inc. reported a 79% increase in new patient starts in the U.S. compared to the previous year, indicating strong market demand for its Eversense 365 continuous glucose monitoring system [1][9]. Financial Performance - Total revenue for Q2 2025 was $6.6 million, a 37% increase from $4.9 million in Q2 2024. U.S. revenue was $4.9 million, up from $3.0 million, while international revenue decreased slightly to $1.7 million from $1.9 million [4][9]. - Gross profit for Q2 2025 was $3.1 million, significantly higher than $0.3 million in Q2 2024, driven by improved margins on the Eversense 365 product and a one-time recovery of previously expensed value-added tax [5]. - The net loss for Q2 2025 was $14.5 million, or $0.02 per share, an improvement from a net loss of $20.3 million, or $0.03 per share, in Q2 2024, primarily due to better gross profit margins and reduced R&D costs [8][9]. Operational Highlights - The company expanded its direct-to-consumer advertising campaign, resulting in a 50% increase in leads during the first month compared to the previous three-month average [9]. - Senseonics completed the transition of providers to its Eon Care network, now including 38 providers to enhance patient access to insertions [9]. - The company entered a commercial development agreement with Sequel Med Tech to integrate its automated insulin delivery system with Eversense 365, with a launch expected in Q4 2025 [9]. Future Outlook - For the full year 2025, Senseonics expects global net revenue to be approximately $34-38 million, anticipating a doubling of its global patient base. Revenue generation is expected to be skewed towards the second half of the year [10]. - Gross margins are projected to increase throughout 2025, with expected margins between 32.5% and 37.5% for the full year [10].