Senseonics Reports 24% Revenue Growth to $6.3 Million in Q1 2025

Senseonics Holdings, Inc. reported its financial results for the first quarter of 2025, revealing a total revenue of $6.3 million, a 24% increase from $5.0 million in the same period last year. The growth was primarily driven by increased sales of its Eversense continuous glucose monitoring (CGM) systems, particularly the newly launched Eversense 365, which has seen rising demand. The company recorded a gross profit of $1.5 million, significantly up from $335,000 in the prior year, resulting in a gross margin of 24.1%, compared to 6.6% a year earlier. This improvement in gross margin was attributed to favorable sales margins on the 365-day product and a reduction in costs previously expensed to research and development.

Despite the revenue growth, Senseonics reported a net loss of $14.3 million for the quarter, a decrease from a net loss of $18.9 million in the first quarter of 2024. The reduction in losses was aided by lower research and development expenses, which fell to $7.3 million from $10.4 million, reflecting the completion of clinical trials for the Eversense 365 system. Selling, general, and administrative expenses also decreased slightly to $7.7 million from $8.1 million, primarily due to lower personnel costs following a restructuring.

Operationally, Senseonics has made significant strides in expanding its market presence. The company has established a consignment program to enhance product availability and has reached approximately 300 million covered lives in the U.S. through positive insurance payor coverage decisions. The Eversense 365 system, which received FDA approval in September 2024, is now being commercialized by Ascensia Diabetes Care, the company’s strategic partner. This collaboration is crucial for Senseonics, as approximately 71% of its revenue in the latest quarter came from Ascensia.

As of March 31, 2025, Senseonics had unrestricted cash, cash equivalents, and marketable securities totaling $64.2 million. However, the company expressed concerns about its ability to continue as a going concern, indicating that it will require additional funding to sustain operations through the next year. The company is actively exploring various financing options, including public and private debt and equity financings, to support its ongoing commercialization efforts and product development initiatives.

Looking ahead, Senseonics aims to leverage its recent product launches and strategic partnerships to drive revenue growth. The company is focused on increasing awareness and adoption of its Eversense systems among diabetes patients and healthcare providers, while also continuing to develop future product iterations. The successful commercialization of the Eversense 365 and the anticipated launch of the Gemini product, which integrates CGM and flash glucose monitoring technologies, are key components of the company’s growth strategy.