Senseonics (NYSE:SENS) today announced preliminary revenues for the third quarter and plans to conduct a reverse stock split.
The Germantown, Maryland-based long-term implantable continuous glucose monitor maker expects approximately $8.1 million in revenue for the third quarter of 2025. That marks a 91% uptick from the third quarter of 2024. The company attributed its growth to an approximately 160% increase in new patients in the U.S. compared to the prior year.
New patient growth comes as a result of increased investment in direct-to-consumer (DTC) marketing, the company said. It recorded the highest number of new patient starts in its history in September. This boost comes ahead of Senseonics fully assuming commercial responsibility for its Eversense 365 long-term implantable continuous glucose monitor (CGM) systems next year after agreeing to end its distribution deal with Ascensia Diabetes Care.
Preliminary revenues come in ahead of Wall Street projections for $7.8 million in sales as well.
Meanwhile, the company also plans to conduct its reverse stock split at a ratio of one-for-twenty. It reduces the number of shares of common stock issued from approximately 816 million to approximately 41 million. The company expects that to go into effect at 5 p.m. ET on Oct. 17, 2025.
Shares of SENS will begin trading on a post-split basis at the market open on Oct. 20. Stockholders approved the split last month at a special meeting and the Senseonics board approved it days later.
“I am excited by the team’s strong performance this quarter, which is a direct result of the increasing enthusiasm for Eversense 365, the world’s first and only year-long CGM,” Tim Goodnow, president and CEO of Senseonics said. “The ongoing investments we are making in our DTC marketing campaigns are accelerating awareness with patients and clinicians leading to the continued momentum behind Eversense. This is what encouraged us to bring the full sales and marketing organization in-house, giving us increased confidence in our ability to drive topline revenue and exceed patient expectations.”
