Senseonics(US:SENS)2025-05-08 21:32Financial Data and Key Metrics Changes - In Q1 2025, net revenue grew 24% to $6.3 million compared to $5 million in the prior year period [18] - U.S. revenue for Q1 was $4.5 million, while revenue outside the U.S. was $1.8 million [18] - Gross profit increased to $1.5 million from $300,000 in the prior year, driven by increased margins on the Eversense three sixty five product [21] - Net loss decreased to $14.3 million or $0.02 loss per share from a net loss of $18.9 million or $0.03 loss per share in the prior year [23] Business Line Data and Key Metrics Changes - The Eversense three sixty five continuous glucose monitor (CGM) is positioned as a significant product, with a focus on integration with automated insulin delivery systems [7][9] - The company is working on expanding its Eversense three sixty five offering and has filed for CE Mark approval, anticipating a European launch in the second half of 2025 [12] - The consignment program continues to show strong utilization, contributing approximately 13% of revenue in Q1 [20] Market Data and Key Metrics Changes - The company is seeing positive responses from both U.S. and international markets, with expectations for significant growth in patient adoption [36] - The Medicare reimbursement update is expected to facilitate broader adoption of the Eversense three sixty five sensor [40] - The company anticipates doubling its global patient base in 2025 compared to 2024, with revenue expected to be approximately one-third in the first half and two-thirds in the second half of the year [26] Company Strategy and Development Direction - The company aims to transform diabetes care through technological advancements and partnerships, focusing on the integration of its CGM with insulin delivery systems [7][9] - Collaborations with companies like Sequel and Sweet Spot are part of the growth strategy to enhance patient care and streamline monitoring processes [9][10] - The company plans to continue developing its pipeline products, GEMINI and Freedom, to improve patient experience and expand its market offerings [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the launch metrics and revenue numbers, indicating a positive trajectory for the Eversense three sixty five product [29] - The company is closely monitoring the evolving tariff situation and expects to mitigate any negative impacts on gross profit margins [27] - Full-year 2025 global net revenue is projected to be approximately $34 million to $38 million, reflecting confidence in the product's market acceptance and growth potential [25] Other Important Information - The company received gross proceeds of approximately $27 million from the sale of common stock, extending its cash runway into mid-2026 [24] - As of March 31, 2025, cash and cash equivalents totaled $64.6 million, with total principal debt outstanding reduced to $35 million [23] Q&A Session Summary Question: Guidance despite Mercy contract pause - Management noted that early launch metrics for Eversense three sixty five are positive, and while the Mercy contract pause is a factor, the overall trajectory remains strong [34][36] Question: Direct-to-consumer (DTC) efforts - The company is focusing on social media channels like Facebook, TikTok, and Instagram for DTC marketing, targeting insulin users, particularly in the Medicare population [38][40] Question: Twist integration timeline - Management confirmed that integration work is ongoing, with verification and validation of the system expected to be completed by Q3 [44][46] Question: Update on commercial plans converting to three sixty five sensor - Management expects the majority of commercial plans to convert by the end of the year, with significant progress already made [47][48]