Research Reports

Key takeaways

Revenue +87% to $11.7M from $6.3M, driven by US sales growth in consignment program and 365-day product demand.

Gross profit +361% to $6.9M with 59.3% margin versus prior $1.5M, due to favorable 365-day product margins, higher ASPs in consignment sales, elimination of Ascensia revenue share, and consistent fixed manufacturing costs.

Operating loss expanded 136% to -$31.8M from -$13.5M as selling and marketing costs rose on re-assumed commercialization, headcount growth, and direct-to-consumer initiatives.

Net loss increased 127% to -$32.3M with diluted EPS of -$0.71 versus -$0.02, reflecting scaled investment phase.

Operating cash flow used -$32.0M versus -$16.1M prior year, with free cash flow at -$32.1M amid working capital needs for patient access and Eversense 365 development.

Full analysis

Revenue increased 87% to $11.7 million in Q1 FY2026 from $6.3 million in the prior year, primarily driven by sales growth in the US due to expansion of the consignment program and demand for the 365-day product. Under this model, small quantities of inventory are held at healthcare provider locations for patient availability, with no revenue recognized upon delivery as the company retains inventory control. This shift supports smoother patient access while aligning with commercialization strategy post-transition.

Gross profit rose dramatically 361% to $6.9 million, achieving a 59.3% margin compared to the prior year's lower base. The improvement stems from favorable margins on 365-day product sales, higher average selling prices in the consignment network, elimination of the Ascensia revenue share, and steady fixed manufacturing costs. These factors transformed profitability at the gross level, reflecting product mix optimization and operational leverage as volume scaled.

SENS · Senseonics Holdings, Inc.

Summary

Key takeaways

Full analysis