“It’s the highest in our history and the second quarter in a row in which we have set a new mark,” Goodnow said on an earnings call with investors, as Senseonics (NYSE: SENS) continues to grow after taking full global commercial control of its year-long continuous glucose monitor implant from Ascensia Diabetes Care in January.
Third-quarter revenue reached $19.6 million, for a gain of 140%. In the U.S., a 90% increase in Eversense 365’s active prescriber count yielded a 160% boost in sales, while international income was up about 65%.
The company pointed to recent investments in commercial infrastructure and new partnerships with insulin pump makers as the key ways it has expanded patient access — including its team-up this year with Sequel Med Tech’s twiist pump and upcoming integration with Beta Bionics’ iLet bionic pancreas system.
At the same time, according to Goodnow, the majority of the company’s new users are switching from other CGMs: “Millions of people are on short-term sensors. And when they see what our year-long sensor can do, a growing number are choosing Eversense 365. This is a large opportunity, and we are only beginning to tap it.”
The company’s gross profit rose to $12.1 million versus last year’s $3.5 million, but expenses also more than doubled — resulting in a net loss of $32.7 million and -50 cents in earnings-per-share, compared with $19.5 million and -43 cents prior.
Related: Senseonics more than doubles Q2 revenue in post-Ascensia era
Still, quarterly revenue and EPS outpaced Wall Street’s consensus expectations of $16.2 million and -52 cents, respectively. The company’s stock price surged more than 20% in early morning trading, reaching $12.74.
Looking ahead, Senseonics raised its financial outlook for the second time this year, jumping to a range of $68 million to $70 million, up from the previous forecast of $62 million to $66 million.
Also on the horizon is the development of the Freedom system, with an integrated battery and transmitter that aims to become the first CGM with no on-skin hardware. The company recently announced the launch of its first-in-human feasibility study, with an eye on a commercial debut in 2028.
“Picture a full year of glucose data with nothing to wear — invisible monitoring. Eliminating the transmitter is one of the biggest differentiators in CGM and the improvement people ask for most,” Goodnow said.
