Senseonics (SENS) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool Sun, May 10, 2026 at 1:52 AM GMT+7 31 min read Image source: The Motley Fool. President & Chief Executive Officer — Tim Goodnow Chief Financial Officer — Frederick Sullivan Chief Medical Officer — Francine Kaufman Chief Operating Officer, International — Mukul Jain Tim Goodnow: Thanks, Jeremy, and I appreciate everyone joining us today. 2026 is off to a very strong start for Senseonics commercially and strategically. In the first quarter, we delivered $11.7 million in revenue and 58% gross margin. We view the combination of top line growth and margin expansion as early validation that our integrated commercial model can deliver with improving financial performance as we scale. Given all of this, we are raising our full year 2026 global net revenue guidance to $60 million to $64 million from $58 million to $62 million, representing year-over-year growth of 70% to 82%. Beyond the financial results, we successfully completed the integration of the U.S. commercial organization, continued progress towards completing the European commercial integration, launched our first AID partnership, advanced our Gemini and Freedom development programs and added over $100 million in growth capital to our balance sheet. Taken together, these accomplishments give Senseonics the commercial control, the product pipeline and the financial resources to drive Eversense revenue growth, first through our compelling Eversense 365 offering and then through the next-generation CGM system that we are developing. We re at an exciting stage of our journey and the opportunity ahead for Senseonics is significant. There s a lot more work to do, but we are now in control of our destiny with the right team, structure and strategy in place to accelerate our recent momentum. Now I d like to provide more detail on the encouraging progress so far this year. On the commercial side, execution was strong. The first quarter of 2026 was our first full quarter with direct ownership of the Eversense commercial organization in the U.S. following the January 1 transition from Ascensia Diabetes Care. Having the commercial team inside Senseonics gives us the ability to align sales strategy, field execution and market access priorities with our product development and our qualified manufacturing partners. This has been invaluable and that alignment contributed to an exceptional financial quarter. In the quarter, we generated revenue of $11.7 million, a strong financial result that reflects growing Eversense 365 adoption in the U.S. and a focused reimbursement channel mix, which Rick will detail shortly. Equally important, gross margin reached 58%, driven by more new users, higher manufacturing volumes and the structural benefit of eliminating the Ascensia revenue share. We view the combination of top line growth and margin expansion as early validation that our integrated commercial model can deliver with improving financial performance as we scale. Eversense sales have continued to grow, and we believe we remain on track to double patients this year in the U.S. Our direct-to-consumer channel continues to yield strong results. In 2025, DTC sourced new patient shipments doubled year-over-year. And within the year, our monthly DTC new patient volumes grew more than fourfold from January through December as we scaled our investment. That momentum carried into 2026. In Q1, DTC sourced new patient shipments grew nearly 100% compared to the first quarter of 2025, with DTC accounting for roughly 60% of all new patient shipments in the quarter. The health care professional channel is also growing as our sales reps continue to become more efficient with March providing the most HCP sales leads in the company s history. We re also encouraged that patient reorders tracked above plan in Q1, an early signal of the retention dynamics we expect from our year-long product. Following the positive reception of Eversense 365 in the U.S., we anticipate the current launch of our year-long sensor in Europe will support growth in these markets as well. In April, we inserted our first patients in Sweden, followed by Spain earlier this week. And we re in the process of launching across Germany and Italy, rounding out the 4 European markets we ll be serving following the transition of Ascensia s commercial organization. We also see Eon Care as an increasingly important growth driver for Eversense. Eon now has over 70 nurses available for insertions, and the team is well on its way towards our goal of 100 nurses by the end of the year. Critically, Eon Care now performs more than 1/3 of all Eversense insertion procedures. To put the reach of our broadening network in perspective, we have established Eon in 34 states and are continuing to grow its reach. This expansion across the country reduces geographic barriers that may have previously limited implantable CGM adoption. That reach is significant for several reasons. First, it means t

Senseonics (SENS) Q1 2026 Earnings Transcript

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Senseonics (SENS) Q1 2026 Earnings Transcript

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