Senseonics (SENS) Update / Briefing Transcript

Summary of Eversense Three Sixty Five Commercial Update Call Company and Industry - Company: Senseonics - Product: Eversense three sixty five (CGM - Continuous Glucose Monitoring) - Industry: Diabetes care and medical devices Core Points and Arguments 1. Commercialization Strategy Change: Senseonics announced a memorandum of understanding with Ascensia to integrate the full CGM commercial organization back into Senseonics effective January 1, 2026, aiming for clearer focus and targeted resources to build the Eversense brand [4][5][6] 2. Leadership Transition: Brian Hansen, previously leading Ascensia's Eversense Commercial Operations, will become the new Chief Commercial Officer at Senseonics, bringing his leadership team to drive Eversense sales [5][6][12] 3. Market Growth: Eversense three sixty five has seen significant growth, with new patient starts in Q2 growing 79% year-over-year and weekly new patient shipments up nearly 50% in Q3 compared to Q2 [12][15] 4. Record Performance: August set records for the highest number of sensor insertions and new patient shipments in the history of Senseonics [12][13] 5. Financial Implications: The elimination of the Ascensia revenue share is expected to improve revenue by over 20% and gross profit margin to exceed 50% next year, with potential to reach 70% at scale [19][20] 6. Investment in Growth: Senseonics plans to fund additional investments in sales and marketing through improved revenue and a partnership with Hercules Capital for a non-dilutive debt facility of up to $100 million [19][20] 7. Transition Plans: The transition to full commercial rights is expected to be smooth, with minimal disruption for patients and providers, and is aligned with PHC's strategic focus [9][21] 8. International Expansion: The company is preparing for the launch of Eversense three sixty five in European markets, with activities expected to begin in Q4 upon receiving CE Mark approval [14][85] Other Important Content 1. Patient-Centric Focus: The integration aims to enhance patient experience and access to Eversense, with a commitment to improving the lives of people affected by diabetes [9][10] 2. DTC Campaign Success: The direct-to-consumer (DTC) campaign has shown promising results, with increased awareness and lead generation [53][80] 3. Future Product Pipeline: The transition will also support the upcoming launches of the Gemini and Freedom systems, expected in late 2026 and late 2027 respectively [22][25] 4. Shareholder Commitment: Ascensia, owning nearly 10% of Senseonics, intends to maintain its investment, indicating continued support for the company's growth [9][65] 5. Operational Efficiency: The integration of commercial and development organizations is expected to enhance operational efficiency and responsiveness to market needs [18][19] This summary encapsulates the key points discussed during the Eversense three sixty five Commercial Update Call, highlighting the strategic changes, growth metrics, financial implications, and future plans of Senseonics in the diabetes care market.