Senseonics Holdings, Inc.
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About SENS
Senseonics Holdings, Inc. is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the diabetes community. Its glucose monitoring (CGM) systems, Eversense, Eversense XL, and Eversense E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every five minutes to a mobile app on the user's smartphone. Eversense consists of three primary components: a small sensor inserted subcutaneously under the skin by a healthcare provider; an external removable smart transmitter that receives, assesses and relays data from the sensor and provides vibratory alerts; and a mobile app that receives data from the transmitter and provides real-time glucose readings, alerts and other data the person's mobile device. Its CGM system continually and accurately measures a person's glucose levels for up to six months.
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$183.06M
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0.00%
22.28M
$0.38
$0.32
$0.32
$0.75
$0.25
What does Senseonics do and how does it earn money?
It's in the blood. Senseonics Holdings, Inc. is a medical technology company that develops and manufactures Continuous Glucose Monitoring (CGM) systems, aiming “to improve the lives of people with diabetes by enhancing their ability to manage their disease with relative ease and accuracy.”
The company’s CGMs are an industry first. While others require weekly or fortnightly replacements, Senseonics’ CGMs can be implanted subcutaneously for much longer periods.
The company earns revenue in one business segment via three main products:
Eversense CGM which can be implanted subcutaneously for 3 months
Eversense XL CGM which can be implanted subcutaneously for 6 months (currently available in Europe only)
Eversense E3 CGM which can be implanted subcutaneously for 6 months
In August 2020, Senseonics entered a Commercialization Agreement with Ascensia, a global diabetes treatment company. Senseonics granted Ascensia exclusive rights to distribute their Eversense CGM systems worldwide.
How does Senseonics’ Eversense CGM work?
Senseonics’ CGM systems measure a diabetic’s glucose levels (aka blood sugar) via sensors inserted under the skin by a healthcare professional.
The sensor communicates data to a smart transmitter on top of the skin. The transmitter beams data to a smartphone app for real-time diabetes monitoring and management.
Is Senseonics profitable?
No, Senseonics is not profitable at this time.
By their own admission, the company is in “the early commercialization stages of the Eversense brand and are focused on driving awareness of our CGM systems amongst intensively managed patients and their healthcare providers.”
Revenue has see-sawed since the company went public and net income has always been negative. In fact, net income has trended deeper into the red in FY2019, FY2020 and FY2021 with minus US$116m, US$175m and US$302m, respectively.
As of the end of FY2021, the company has accumulated a total debt of US$62.7m.
Is SENS stock a buy?
Investor sentiment on SENS is mixed. Some investors consider Senseonics uninvestable due to its weak and inconsistent financials.
Other investors anticipate a brighter future for the company due to the U.S. Food & Drug Administration’s (FDA) recent approval of the Eversense E3 CGM system in February 2022.
These investors are also anticipating widening adoption of Eversense CGMs due to the Commercialization Agreement with Ascensia.
Who owns SENS stock?
Senseonics largest shareholders are institutional including PHC Holdings Corporation (14.75%), BlackRock (6.71%), Vanguard Group (4.35%) and Steward Capital Holdings (4.1%).
President and CEO Timothy T. Goodnow holds 0.3%.
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This is not financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.
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