The following is a summary of the Senseonics Holdings, Inc. (SENS) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Senseonics Holdings, Inc. reported a quarterly net revenue of $4.9 million, up 18% compared to the prior year period.

• U.S. revenue for the second quarter totaled $3 million, and revenue outside the U.S. was $1.9 million.

• For the full year 2024, revenue is expected to be in the range of $22 million to $24 million, reflecting significant anticipated growth.

Business Progress:

• Senseonics is preparing for the launch of the 365-day Eversense CGM system following anticipated FDA clearance.

• Significant developments include the establishment of Eon Care Services, a wholly owned subsidiary to support patient access and the ongoing partnership with Mercy Health Systems.

• Advanced clinical trials and product pipeline developments, including the first in-human clinical testing of the Gemini system.

Opportunities:

• The launch of the 365-day CGM system, representing a milestone with a potential to double the sensor duration and enhance patient convenience.

• Expansion into health systems through the remote patient monitoring program, aiming to integrate Eversense into health system workflows and improve diabetes management.

• Increased business development initiatives, such as the collaboration with Mercy Health System, to drive higher adoption and access to the Eversense CGM.

Risks:

• Transition to the new 365-day system may involve challenges in production, marketing, and customer transition which could affect short-term operations and financial performance.

More details: Senseonics IR

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