The Germantown, Maryland-based company posted profits of $42.9 million, or 8¢ per share, on sales of $3.5 million for the three months ended Sept. 30, 2021, for a massive bottom-line swing out of the red on sales growth of nearly $3 million.
Senseonics’ EPS of 8¢ came in 14¢ ahead of Wall Street, where analysts were looking for sales of $3.6 million.
“In the third quarter we remained laser-focused on advancing the most innovative pipeline in CGM while Ascensia progressed initiatives to drive Eversense patient adoption,” Senseonics President & CEO Tim Goodnow said in a news release. “We are encouraged by the excitement demonstrated by patients and HCPs for the 180-day sensor in the U.S. and we are pleased with the progression of the review and are hopeful the FDA will reach an approval decision in the coming months based on the positive Promise study results. We look forward to launching the new system shortly after approval.”
Seneseonics said that, as a result of COVID-19-related uncertainty potentially affecting overall business and the FDA’s review of its pre-market approval supplement application, it expects full-year revenues to come somewhere in between $12 million and $15 million.
SENS shares were up 0.7% at $3.78 per share after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 0.4%.
