Senseonics Holdings, Inc. Provides Business Updates and Preliminary Financial Information-

On January 8, 2025, Senseonics Holdings, Inc. (NYSE:SENS) announced various operational and financial updates, including the release of preliminary unaudited financial information for the year ending December 31, 2024. The company decided to cancel the Special Meeting of Stockholders, initially scheduled for January 10, 2025, which was intended for stockholder approval of a proposed reverse stock split ranging from 25:1 to 50:1.

Regarding the preliminary unaudited financial results, Senseonics reported generating approximately $8.3 million in revenue for the fourth quarter of 2024, with a yearly revenue of around $22.5 million. The total operating expenses and cash utilization for the fourth quarter and full year 2024 aligned with the company’s prior guidance. As of December 31, 2024, the unaudited balance of cash, cash equivalents, and restricted cash is anticipated to be roughly $74.9 million.

Furthermore, the company highlighted that its patient base experienced a 56% increase in 2024 compared to the previous year, totaling approximately 6,000 global patients.

In terms of the 2025 outlook, Senseonics plans to provide comprehensive financial guidance alongside the full fiscal year 2024 financial results. The anticipated 2025 guidance is expected to reflect positive revenue growth compared to 2024, considering multiple factors such as Ascensia’s forecasts for the fiscal year beginning on April 1, 2025, marketing strategies, and plans for international commercial transitions.

Senseonics emphasized that the preliminary financial data shared are estimates based on available information at the time of reporting and are subject to change. These figures have not been audited by the company’s independent registered public accounting firm. Detailed financial statements adhering to GAAP standards and audited by the respective firm will be released in due course.

It’s important to note that forward-looking statements made by Senseonics involve inherent uncertainties and risks, which may cause actual results to vary significantly from the projections detailed. This includes factors like the finalization of financial statements, ongoing business strategies, and regulatory considerations. The company plans to update these forward-looking statements as necessary, in accordance with applicable law.

Investors and stakeholders eagerly await Senseonics’ next steps in light of the disclosed financial and operational updates. Stay tuned for further developments as Senseonics continues to navigate the dynamic landscape of the medical technology sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Senseonics’s 8K filing here.

About Senseonics

Senseonics Holdings, Inc, a medical technology company, focuses on development and manufacturing of continuous glucose monitoring (CGM) systems for people with diabetes in the United States and internationally. The company's products include Eversense, Eversense XL, and Eversense E3 that are implantable CGM systems to measure glucose levels in people with diabetes through an under-the-skin sensor, a removable and rechargeable smart transmitter, and a convenient app for real-time diabetes monitoring and management.