Senseonics Holdings, Inc.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 7 May 2026: press release. Guidance figures: 1 raised. The quarter’s numbers.

Key takeaways

Revenue rose 87% year-over-year: Total revenue was $11.7 million, compared with $6.3 million a year earlier. The company described the increase as 87% year-over-year. Source
Net loss widened on commercial costs: Net loss was $32.3 million, or $0.71 per share, against $14.3 million or $0.40 a year earlier. Management attributed the $18 million increase to costs of taking over Eversense commercialization and distribution. Source
Direct-to-consumer drove US adoption: Eversense 365 US momentum was primarily driven by direct-to-consumer marketing, with DTC new patient adds up nearly 100% year-over-year. Source
Gross margin reached 59%: Gross margin was 59% in the first quarter. The company described it as an increase of 35% year-over-year, citing the commercial transition, scale and manufacturing efficiencies. Source
SG&A rose $22.5 million: SG&A rose to $30.2 million, driven by US commercial integration, the transition of Eversense commercialization and distribution, DTC marketing and personnel. Source
Revenue range raised $2 million: Full-year revenue range moved from $58M to $62M to $60M to $64M. Source
Raised over $100 million: The company raised $92 million through a recent public offering and reported over $100 million in equity and debt financing in total. Source
Cash and debt at quarter end: Cash, cash equivalents and investments were $64.6 million, and outstanding indebtedness was $35.2 million. Source

“This was our first quarter as a fully-integrated commercial organization in the U.S., following the successful transition of the U.S. Eversense Sales and Marketing team to Senseonics.”
Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics

Guidance

Area	Period	Figure	Against last quarter
Revenue Source	full year 2026	$60M - $64M	Raised from $58M to $62M
Revenue growth Source	full year 2026	70% - 82%
Gross margin Source	full year 2026	55% - 58%

What changed from last quarter

Guidance raised: Full-year 2026 revenue expectation raised from $58M to $62M to $60M to $64M. Source
New: Eversense 365 launch began in Europe, with first insertions in Sweden in April after CE Mark approval in January. Source
New: Commercial launch of twiist started to support US patient growth. Source
New: The US Eversense sales and marketing team transitioned to Senseonics, making Q1 the first quarter as a fully integrated US commercial organization. Source
New: The Hercules debt facility was amended and expanded. Source

Results, segments and regions

Revenue rose 87% year-over-year: Total revenue was $11.7 million, compared with $6.3 million a year earlier. The company described the increase as 87% year-over-year. Source
Net loss widened on commercial costs: Net loss was $32.3 million, or $0.71 per share, against $14.3 million or $0.40 a year earlier. Management attributed the $18 million increase to costs of taking over Eversense commercialization and distribution. Source
Gross profit rose to $6.9 million: Gross profit was $6.9 million, against $1.5 million a year earlier. Source
US revenue reached $9.3 million: US revenue was $9.3 million, up from $4.5 million. The company attributed the growth to continued adoption of the Eversense E365 system. Source
Revenue outside US rose to $2.4 million: Revenue outside the US was $2.4 million, compared with $1.8 million in the prior-year period. Source

Products and customers

Direct-to-consumer drove US adoption: Eversense 365 US momentum was primarily driven by direct-to-consumer marketing, with DTC new patient adds up nearly 100% year-over-year. Source
Twiist launched with AID systems: The company began a commercial launch with twiist to support US patient growth. It reported encouraging early uptake of Eversense 365 as part of an automated insulin delivery system. Source
Europe launch began in April: The Eversense 365 launch in Europe followed CE Mark approval in January, with first insertions in Sweden in April. Source

“with both revenue and gross margins exceeding our expectations”
Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics

Costs, gross margin and pricing

Gross margin reached 59%: Gross margin was 59% in the first quarter. The company described it as an increase of 35% year-over-year, citing the commercial transition, scale and manufacturing efficiencies. Source
Pricing and supply chain aided margins: Higher average selling prices and a more streamlined manufacturing and supply chain were cited as contributors to improved margins. Source
One-time $0.5 million benefit: Gross profit included a one-time $0.5 million benefit related to the timing of the Europe launch. Source
SG&A rose $22.5 million: SG&A rose to $30.2 million, driven by US commercial integration, the transition of Eversense commercialization and distribution, DTC marketing and personnel. Source
R&D rose on new projects: R&D expenses rose $1.3 million to $8.6 million, driven by new project spend, ramp-up of clinical trials and higher headcount. Source

Full-year guidance

Revenue range raised $2 million: Full-year revenue range moved from $58M to $62M to $60M to $64M. Source
Growth of 70% to 82% expected: Full-year revenue growth is expected at 70% to 82% year-over-year, based on growing scale and the expected completion of the Europe transition. Source
Gross margin expected at 55% to 58%: Full-year gross margin is expected at approximately 55% to 58%. Source

“We have now secured over $100 million in equity and debt financing to continue to fund our ongoing global launch of Eversense 365 and support the continued development of our pipeline, which includes the Gemini and Freedom systems.”
Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics

Capital, cash and debt

Raised over $100 million: The company raised $92 million through a recent public offering and reported over $100 million in equity and debt financing in total. Source
Hercules facility amended: The company amended and expanded its Hercules debt facility to further strengthen the balance sheet. Source
Cash and debt at quarter end: Cash, cash equivalents and investments were $64.6 million, and outstanding indebtedness was $35.2 million. Source

Strategy, transition and team

Funding for launch and pipeline: Management said the financing supports the global launch of Eversense 365 and development of the pipeline, which includes the Gemini and Freedom systems. Source
US commercial team now in-house: The company completed the transition of the US Eversense sales and marketing team to Senseonics. Source
CEO credits team through transition: The CEO said the team adapted and delivered during a period in which the business became end-to-end. Source

Coming up, as management said on 7 May 2026

Europe commercial transition to complete: Management expects the transition of Eversense commercialization in Europe from Ascensia to be completed, bringing sales and marketing in-house. Source
Continued Eversense 365 global launch: Management said it intends to keep funding the ongoing global launch of Eversense 365. Source

Figures management reported

Figure	Reported
DTC new patient adds Source	up nearly 100% year-over-year

Risks management discussed

Demand: Full-year expectations depend on direct-to-consumer marketing spend, the status of other sales and marketing initiatives, and use of patient assistance programs. Source
Operational: The roll-out of Eversense 365 outside the United States is one factor the full-year expectations take into consideration. Source

Earlier plans management reported on

Met: Management described the US sales and marketing team transition as completed successfully. Source
Ahead: Management said revenue and gross margin both exceeded its expectations for the quarter. Source
Not stated: The earlier release said proceeds would fund the Eversense 365 launch and pipeline; the current release reports the offering raised $92 million.

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

Senseonics Holdings, Inc. Reports First Quarter 2026 Financial Results

Generated Q1 revenue of $11.7 million, an increase of 87% year-over-year

Expect full-year revenue in the range of $60M - $64M (previously $58M to $62M)

Strong strategic and commercial progress, including the launch of Eversense® 365 in Europe

Raised $100M+ in equity and debt financing to support commercial strategy and pipeline

GERMANTOWN, MD. - May 7, 2026 (BUSINESS WIRE)-- Senseonics Holdings, Inc. (NASDAQ: SENS) a medical technology company focused on the development, manufacturing and commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced first quarter 2026 financial results and provided a business update.

Recent Highlights & Accomplishments

Generated Q1 revenue of $11.7 million, an increase of 87% year-over-year
Continued commercial momentum for Eversense 365 in the US, primarily driven by direct-to-consumer marketing efforts, with DTC new patient adds up nearly 100% year-over-year.
Achieved gross margin of 59% in Q1, an increase of 35% year-over-year, reflecting benefits from the commercial transition, scale and manufacturing efficiencies
Initiated commercial launch with twiist™ to support US patient growth, with encouraging early uptake of Eversense 365 as part of an Automated Insulin Delivery (AID) system
Currently launching Eversense 365 in Europe with first insertions in Sweden in April, following CE Mark approval in January
Raised $92 million in growth capital through recent public offering of securities
Amended and expanded Hercules debt facility to further strengthen balance sheet

Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics said, “This was our first quarter as a fully-integrated commercial organization in the U.S., following the successful transition of the U.S. Eversense Sales and Marketing team to Senseonics. However, this wasn’t just a quarter of important strategic progress, it was a strong quarter of commercial delivery, with both revenue and gross margins exceeding our expectations. We have now secured over $100 million in equity and debt financing to continue to fund our ongoing global launch of Eversense 365 and support the continued development of our pipeline, which includes the Gemini and Freedom systems. I’m proud of the team’s ability to both adapt and deliver during a crucial evolution of our business, which is now end-to-end, gaining momentum and moving forward more ambitiously.”

First Quarter 2026 Results:

Total revenue for the first quarter of 2026 was $11.7 million compared to $6.3 million for the first quarter of 2025. U.S. revenue was $9.3 million for the first quarter of 2026 compared to $4.5 million for the first quarter of 2025, and revenue outside the U.S. was $2.4 million in the first quarter of 2026 compared to $1.8 million in the prior year period.

First quarter 2026 gross profit was $6.9 million compared to a gross profit of $1.5 million for the first quarter of 2025. The increase in gross profit was primarily due to higher U.S. revenues driven by continued adoption of the Eversense E365 system, higher average selling prices, and a more streamlined manufacturing and supply chain, contributing to improved margins. First quarter 2026 gross profit also included a one-time benefit of $0.5 million related to the timing of the Eversense 365 product launch in Europe.

First quarter 2026 research and development expenses increased by $1.3 million year-over-year to $8.6 million from $7.3 million for the first quarter of 2025. The increase was primarily driven by the new R&D project spend, along with the ramp-up of new clinical trials and increased headcount to support these activities.

First quarter 2026 selling, general and administrative expenses increased by $22.5 million year-over-year to $30.2 million from $7.7 million for the first quarter of 2025. The increase was primarily driven by higher sales and marketing and general and administrative expenses associated with the U.S. commercial integration and the transition of Eversense commercialization and distribution, including increased personnel, transition support, direct-to-consumer marketing, and other operational costs.

Net loss was $32.3 million, or a $0.71 loss per share, in the first quarter of 2026 compared to net loss of $14.3 million, or a $0.40 loss per share, in the first quarter of 2025. Net loss increased by $18 million primarily due to increased expenses due to the costs related to taking over the commercialization and distribution of Eversense.

Cash, cash equivalents and investments were $64.6 million and outstanding indebtedness was $35.2 million.

Full Year 2026 Financial Outlook

Senseonics now expects full-year 2026 global net revenue to be approximately $60 - $64 million, representing year-over-year growth of 70% - 82%, based on growing scale and the expected completion of the transition of Eversense commercialization from Ascensia in Europe to bring the entire sales and marketing infrastructure in-house. Gross margins are expected to be approximately 55% - 58% for the full year. The financial outlook takes into consideration the following factors: (i) the roll-out of Eversense 365 outside the United States, (ii) plans with respect to spending on the DTC marketing campaigns to generate leads, (iii) the status of other sales and marketing initiatives, and (iv) utilization of the patient assistance programs for Eversense 365.

Conference Call Information

Management will hold a conference call to review the Company’s first quarter 2026 performance starting today at 4:30 p.m. (Eastern Time). The conference call will be concurrently webcast. The link to the webcast will be available on Senseonics’ website at www.senseonics.com by navigating to “Investor Relations,” and then “Events & Publications,” and will be archived there for future reference. To listen to the conference call, please dial 1-800-225-9448 (US/Canada) or 1-203-518-9708 (International), passcode SENSQ1, approximately five to ten minutes prior to start time.

About Senseonics Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.

About Eversense The Eversense® Continuous Glucose Monitoring (CGM) Systems are indicated for continually measuring glucose levels for up to 365 days for Eversense® 365 and 180 days for Eversense® E3 in persons with diabetes age 18 and older. The systems are indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time per week after day 14 for Eversense® 365 and one time per day after day 21 for Eversense® E3, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense CGM Systems are prescription devices; patients should talk to their health care provider to learn more. For important safety information, see https://www.eversensediabetes.com/safety-info/.

Forward Looking Statements

Forward-looking statements notice

Any statements in this press release about future expectations, plans and prospects for Senseonics, including the revenue and gross margin projections under the heading “Full Year 2026 Financial Outlook,” statements regarding the ongoing transition of Eversense commercial operations from Ascensia, the commercial launch of Eversense 365 in Europe, the continued investment in the commercialization of Eversense 365 in the U.S. and Europe, the Company’s product development pipeline including Gemini and Freedom, the expanded compatibility of Eversense 365 with automated insulin delivery systems and the future demand for Eversense, and other statements containing the words "believe," “expect,” “intend,” “may,” “projects,” “will,” “planned,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks and uncertainties related to the transition of commercial activities from Ascensia and the establishment of Senseonics’ capabilities and processes in Europe, uncertainties in insurer, regulatory and administrative processes and decisions and the finalization of new product version technology upgrades for European tenders and other customers, uncertainties in the development, registration and roll-out of new technology and solutions, uncertainties inherent in the ongoing commercialization of the Eversense product, the expansion of the Eversense product and Senseonics’ and its partners’ activities, uncertainties relating to the ability satisfy conditions for funding of future tranches of borrowing under the amended credit facility with Hercules, uncertainties relating to the availability and terms of future financing, uncertainties relating to the current economic and regulatory/political environment, including the effects of tariffs, and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2025 and quarterly reports on Form 10-Q filed with the SEC under the heading "Risk Factors." The forward- looking statements included in this press release represent Senseonics’ views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics’ views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics’ views as of any date subsequent to the date hereof.

Senseonics Investor Contact

Jeremy Feffer LifeSci Advisors investors@senseonics.com

Senseonics Holdings, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

	March 31,	December 31,
	2026	2025
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$29,612	$40,234
Restricted cash	315	315
Short term investments, net	34,709	53,796
Accounts receivable, net	10,655	6,807
Accounts receivable, net - related parties	4,056	5,312
Inventory, net	8,308	6,703
Prepaid expenses and other current assets	4,626	4,366
Total current assets	92,281	117,533
Deposits and other assets	6,429	4,536
Property, equipment and intangible assets, net	4,147	4,200
Total assets	$102,857	$126,269
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$3,188	$4,059
Accrued expenses and other current liabilities	15,097	15,091
Accrued expenses and other current liabilities, related parties	8,040	5,198
Total current liabilities	26,325	24,348
Long-term debt and notes payables, net	35,912	35,586
Non-current operating lease liabilities	6,285	5,289
Total liabilities	68,522	65,223
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value per share; 70,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 41,795,466 shares and 41,265,778 shares issued and outstanding as of March 31, 2026 and December 31, 2025	42	41
Additional paid-in capital	1,083,605	1,077,923
Accumulated other comprehensive income	8	69
Accumulated deficit	(1,049,320)	(1,016,987)
Total stockholders’ equity	34,335	61,046
Total liabilities and stockholders’ equity	$102,857	$126,269

Senseonics Holdings, Inc.

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)

	Three Months Ended
	March 31,
	2026	2025
Revenue, net	$9,341	$1,810
Revenue, net - related parties	2,370	4,447
Total revenue	11,711	6,257
Cost of sales	4,771	4,752
Gross profit	6,940	1,505
Expenses:
Research and development expenses	8,611	7,299
Selling, general and administrative expenses	30,175	7,694
Operating loss	(31,846)	(13,488)
Other income (expense), net:
Interest income	742	675
Interest expense	(1,192)	(1,429)
Other expense	(37)	(17)
Total other income (expense), net	(487)	(771)
Net Loss	(32,333)	(14,259)
Other comprehensive loss
Unrealized loss on marketable securities	(61)	(3)
Other comprehensive loss	(61)	(3)
Total comprehensive loss	$(32,394)	$(14,262)
Basic net loss per common share	$(0.71)	$(0.40)
Basic weighted-average shares outstanding	45,822,486	35,943,880
Diluted net loss per common share	$(0.71)	$(0.40)
Diluted weighted-average shares outstanding	45,822,486	35,943,880