Senseonics (SENS) Status Update summary

Commercial transition and strategic realignment

• Commercialization and distribution of Eversense 365 and future products will shift from Ascensia Diabetes Care to in-house operations starting January 1, 2026, with European transition targeted for later in 2026.

• Transition service agreements with Ascensia will support the handover, ensuring minimal disruption for patients, providers, and employees until full establishment in all markets.

• Brian Hansen, currently leading Eversense commercial operations at Ascensia, will become Chief Commercial Officer, bringing most of his commercial team effective January 1, 2026.

• The move is expected to enable margin expansion, recapture revenue share, and allow for more targeted investment in brand building and market penetration, accelerating growth and realizing the full potential of Eversense.

• PHC Group, parent of Ascensia and a major shareholder, remains supportive and will maintain its stake.

Commercial performance and growth momentum

• Eversense 365 adoption is accelerating, 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 daily sensor insertions and new patient shipments.

• Broad commercial and Medicare coverage is in place, and the inserter network is at an all-time high.

• Direct-to-consumer marketing investments are driving strong lead generation and conversions, with incremental spending yielding continued growth.

• The commercial team is expected to remain largely intact, with about 150 U.S. staff and 50 in Europe, supporting ongoing and future launches.

Financial implications and outlook

• Eliminating the Ascensia revenue share is expected to increase reported revenue by over 20% and gross profit margin to over 45% in 2025, with a long-term target of 70%+ at scale.

• Non-dilutive debt facility with Hercules Capital expanded up to $100 million to fund the commercial organization and expansion.

• The company expects to be funded into 2027, with a path to profitability unchanged and patient base projected to double over the next several years.

• 2025 global net revenue guidance is reiterated at $34–38 million, with revenue weighted toward the second half due to reorder dynamics.

• Most of the 2026 gross margin improvement is attributed to the end of the Ascensia revenue share, with some benefit from scale.