Shares in Senseonics (NYSE:SENS) closed down -3% yesterday after the medical device maker met earnings expectations on Wall Street with its fourth quarter and full-year financial results, but narrowly missed sales estimates.
The Germantown, Md.-based company posted a net loss of -$16.3 million, or -12¢ per share, on sales of $2.9 million for the 3 months ended Dec. 31, for bottom-line loss of -64.6% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -12¢, a penny ahead of consensus on The Street, where analysts were looking for sales of $2.97 million.
For the full year, Senseonics posted a net loss of -$59.1 million, down -34.6% from 2016, on sales of $6.4 million – up from $0.3 million compared to the year before.
“We are pleased with our fourth quarter results and accomplishments through 2017 as well as the upcoming opportunity to present our strong clinical data to the FDA advisory panel, which is a milestone in building the Eversense franchise,” president & CEO Tim Goodnow said in prepared remarks. “We expect that the upcoming year will be transformational as we prepare to introduce Eversense to the U.S. market, continue working with our distribution partners to expand our presence in Europe and continue with the launch of Eversense XL in Europe.”
Senseonics said it expects to post sales in the range of $18 million – $20 million in 2018.
SENS shares were trading at $3.07 apiece yesterday when the market closed, down -2.9%.