SENS - Senseonics Holdings shares dip on tightening FY2022 revenue outlook

• Senseonics Holdings ( NYSE: SENS ) shares dip after reporting mixed Q3 results on Tuesday.
• The company saw revenue growth of ~31% in the quarter.
• U.S. revenue was $1.9M compared to $0.6M in the prior year period and revenue outside the U.S. was $2.7M compared to $2.9M in the prior year period.
• The company narrowed the expectation for FY2022 global net revenue in the range of $15M to $17M, compared to the prior view of $14M to $18M and consensus of $16.18M.
• Cash, cash equivalents, short and long-term investments were $163M and outstanding indebtedness was $103.8M as of September 30, 2022.
• “Having launched the partnership with the Nurse Practitioner Group to expand access with in-home and in-office insertion options, we continue to work with Ascensia to execute and build the foundation for increased adoption of Eversense,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Together with the recent achievement of key milestones in our clinical and R&D programs, notably enrolling a pivotal 365-day trial, we continue to advance our initiatives towards delivering the benefits of long-term implantable CGM to more patients.”

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