Shares in Senseonics (NYSE:SENS) fell slightly today after the diabetes-focused device maker posted fourth quarter and full year 2018 earnings that beat loss-per-share consensus but missed sales expectations and lowered its guidance for the 2019 fiscal year.
The Germantown, Md.-based company posted losses of $7.3 million, or 4¢ per share, on sales of $7.2 million for the three months ended December 31, seeing losses shrink 55.2% while sales grew 148.3% compared with the same period during the previous year.
Losses per share were well ahead of the 14¢ loss-per-share consensus on Wall Street, where analysts expected to see sales of $7.9 million, which the company missed.
For the full year, Senseonics reported losses of approximately $94 million, or 60¢ per share, on sales of $18.9 million, seeing losses grow 59% while sales grew 196.8% compared with the previous year.
“We are pleased with 2018 which was a milestone year for Senseonics highlighted by FDA approval of the Eversense system, the build out of our commercial organization, and continued penetration in Europe. We continue to learn and adapt from the launch of this highly innovative product and expect real-world experience to drive patient and clinician demand for Eversense. With additional coverage policy wins and raising awareness of the benefits of a long-term implantable CGM, we are confident we have the strategy and team in place to accelerate adoption and help more patients manage their diabetes,” prez & CEO Tim Goodnow said in a press release.
Senseonics updated its guidance for the 2019 fiscal year, expecting to post sales of between $25 million and $30 million, down from previous guidance of between $28 million and $32 million.
Shares in Senseonics have fallen approximately 2.3% so far today, at $3 as of 11:53 a.m. EST.
Earlier this month, Senseonics said that data from its Eversense continuous glucose monitoring system can be integrated into Glooko‘s diabetes data management tech.