Senseonics Holdings (SENS) Misses Q2 EPS by 9c, Revenues Miss

Senseonics Holdings (NYSE: SENS) reported Q2 EPS of ($0.23), $0.09 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $3.6 million versus the consensus estimate of $3.87 million.

• Received FDA approval for the Eversense® CGM System, the first and only long-term implantable continuous glucose monitoring system
• Completed first commercial insertion in the U.S.
• Secured first U.S. payor coverage of Eversense from Horizon Blue Cross Blue Shield of New Jersey
• Eversense Mobile Clinic traveling across the U.S. training physicians
• Eversense® XL System introduced across the existing European markets
• Strengthened balance sheet with additional $150 million of gross proceeds through completion of underwritten equity offering

“Second quarter was a very significant period for Senseonics. We received FDA approval for the Eversense System, began our U.S. commercial launch at ADA, and subsequently, in just six weeks, secured reimbursement from BCBS New Jersey. Additionally, our penetration in the EMEA market continues to grow as we have expanded availability of the Eversense XL across Europe,” said Tim Goodnow, President and Chief Executive Officer of Senseonics. “As we go forward in the balance of 2018, we will continue to execute on our commercial strategy and clinical development programs as we work toward label expansion and additional regulatory approvals.”

For earnings history and earnings-related data on Senseonics Holdings (SENS) click here.

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