Senseonics (SENS) investor relations material

Commercial transition and leadership changes

• Full commercial rights for Eversense 365 will be brought in-house by January 1, 2026, ending the partnership with Ascensia and enabling direct control over U.S. commercialization and distribution.

• Brian Hansen, previously leading Ascensia’s Eversense operations, will become Chief Commercial Officer, bringing most of his commercial team to the new structure effective January 1, 2026.

• Transition Service Agreements with Ascensia will support the move in OUS markets, with full European transition targeted for later in 2026.

• The transition is mutually agreed upon, aiming for minimal disruption and continued collaboration with PHC and Ascensia.

• PHC remains a significant shareholder, holding nearly 10% of the company and supporting the transition.

Commercial performance and growth momentum

• Eversense 365 has seen strong growth, with new patient starts up 79% year-over-year in Q2 and weekly new patient shipments up nearly 50% in Q3 compared to Q2.

• August set records for both sensor insertions and new patient shipments.

• The commercial team is expanding, with about 150 U.S. staff and 50 in Europe, and plans for further growth as market penetration increases.

• Direct-to-consumer marketing investments have driven record leads and insertions, with continued strong performance even in typically slow months.

• The upcoming launch of Eversense 365 in Europe is expected in Q4, pending CE Mark approval.

Financial implications and guidance

• Eliminating the Ascensia revenue share is expected to increase reported revenue by over 20% and gross profit margin to over 50% in 2025, with long-term margins targeted at 70% or more.

• Expanded partnership with Hercules Capital provides up to $100 million in non-dilutive debt, supporting commercial investments.

• The company reiterates 2025 global net revenue guidance of $34–38 million, with revenue weighted toward the second half due to reorder dynamics, and expects to be funded into 2027.

• No changes to 2025 operating expense guidance, with transition costs included; 2026 margin improvement mainly from revenue share elimination.

• Cash used in operations for 2025 is expected to be approximately $60 million.