SENS · Senseonics Holdings, Inc.

Senseonics delivered a materially stronger Q1 2026 than prior-year, with revenue more than doubling to $11.7 million and gross margin surging 35 percentage points to 59%—a direct result of the completed U.S. commercial transition, higher average selling prices, and supply chain efficiencies. The $22.5 million YoY increase in SG&A to $30.2 million reflects deliberate, front-loaded investment in DTC marketing, sales force expansion, and operational integration following the assumption of full U.S. Eversense commercialization from Ascensia. While net loss widened to $32.3 million, management explicitly attributed this to transitional costs—not underlying business deterioration—and emphasized that both revenue and gross margin exceeded internal expectations. The upward revision of full-year revenue guidance to $60–$64 million (70–82% YoY growth) signals confidence in sustained momentum, particularly from the April 2026 European launch of Eversense 365 in Sweden and ongoing U.S. DTC traction, where new patient adds rose nearly 100% YoY. With $92 million raised in equity and the Hercules debt facility expanded, the company has secured over $100 million in new capital to fund global commercialization and pipeline development—including Gemini and Freedom systems—while maintaining $29.6 million in cash and $35.2 million in debt as of quarter-end. This positions Senseonics as a fully integrated commercial entity executing against a clear, capital-supported growth trajectory.