olivLaw · US equity research
Senseonics Holdings, Inc. SENS
Industrial Instruments For Measurement, Display, and Control · SIC 3823 · Vertical: Industrial Instruments For Measurement, Display, and Control (SIC 3823)
Senseonics Holdings develops and commercializes an implantable continuous glucose monitoring system, Eversense, for people with diabetes. In 2026 the company brought commercial operations in the United States and Europe in-house, and quarterly revenue rose sharply to 14.5 million USD in the second quarter of 2026.
At the close of 04 Nov 2026, Senseonics Holdings, Inc. (SENS) stock was 9.02 USD (+1.81% on the day), with market capitalisation 476.9 m USD, beta 1.69, 52-week range 4.86–10.34 USD. Latest reported quarter (Q2 2026): revenue of 14.5 m USD (+117.8% YoY), net income of -36.7 m USD, diluted EPS -0.63 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 52.4
- neutral
- Bollinger (20, 2)
- 7.14 – 9.93
- in the upper half of the band · %B 0.67 · band width 32.7%
- SMA 50 / 200
- 9.15 / 7.23
- mixed trend
- MACD (12, 26, 9)
- -0.00 / -0.13
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −12.5% | −1.1% | −11.4 pp | — |
| 3 months | +74.1% | −0.5% | +74.6 pp | — |
| 6 months | +68.3% | +4.4% | +63.9 pp | — |
| Year to date | +63.4% | +12.3% | +51.1 pp | — |
| 1 year | +34.8% | +13.5% | +21.3 pp | +24.7% |
| 3 years | −15.9% | +76.4% | −92.3 pp | +26.5% |
| 5 years | −88.2% | +63.7% | −151.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.3 m | 8.3 m | 6.3 m | 6.6 m | 8.1 m | 14.3 m | 11.7 m | 14.5 m |
| Cost of revenue | 8.3 m | 4.3 m | 4.8 m | 3.5 m | 4.6 m | 6.6 m | 4.8 m | 5.9 m |
| Gross profit | -4.1 m | 4.0 m | 1.5 m | 3.1 m | 3.5 m | 7.7 m | 6.9 m | 8.6 m |
| Research & development | 10.5 m | 9.4 m | 7.3 m | 7.7 m | 7.8 m | 8.8 m | 8.6 m | 11.6 m |
| SG&A | 8.3 m | 8.9 m | 7.7 m | 9.7 m | 15.3 m | 19.8 m | 30.2 m | 32.9 m |
| Operating income | -22.8 m | -14.3 m | -13.5 m | -14.3 m | -19.6 m | -20.9 m | -31.8 m | -36.0 m |
| Depreciation & amortisation | 196.0 k ≈ | 766.0 k | 384.0 k | 370.0 k ≈ | 376.0 k ≈ | 382.0 k | 545.0 k | 548.0 k ≈ |
| Interest expense | 2.1 m | 2.2 m | 1.4 m | 1.1 m | 1.2 m | 1.2 m | 1.2 m | 1.6 m |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -24.0 m | -15.5 m | -14.3 m | -14.5 m | -19.5 m | -20.8 m | -32.3 m | -36.7 m |
| Diluted EPS | -0.77 | -0.46 ≈ | -0.40 | -0.36 | -0.43 | -0.46 ≈ | -0.71 | -0.63 |
| Operating cash flow | -14.8 m ≈ | -14.2 m | -16.1 m | -9.3 m ≈ | -15.8 m ≈ | -18.0 m | -32.0 m | -30.1 m ≈ |
| Capex | -203.0 k ≈ | 34.0 k | 434.0 k | 124.0 k ≈ | 164.0 k ≈ | 394.0 k | 111.0 k | 217.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | ⚠ 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18.9 m | 21.3 m | 4.9 m | 13.7 m | 16.4 m | 22.4 m | 22.5 m | 35.3 m |
| Revenue YoY | — | +12.6% | −76.8% | +176.3% | +19.8% | +36.6% | +0.4% | +56.9% |
| Net income | -94.0 m | -115.5 m | -175.2 m | -302.5 m | 142.1 m | -60.4 m | -78.6 m | -69.1 m |
| Net income YoY | — | unavailable | unavailable | unavailable | unavailable | −142.5% | unavailable | unavailable |
| Diluted EPS | unavailable | -0.61 | -0.77 | -0.72 | -0.11 | -0.11 | -2.50 | -1.66 |
| Diluted EPS YoY | — | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -496.9% | -542.5% | -3,539.5% | -2,211.9% | 867.2% | -269.7% | -349.8% | -196.0% |
| Free cash flow | -91.8 m | -137.1 m | -67.6 m | -56.3 m | -66.6 m | -70.5 m | -62.7 m | -60.2 m |
The series breaks before 2018: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 40.2 m USD
- Financial debt
- 35.6 m USD
- Net debt
- -4.6 m USD
- Equity
- 61.0 m USD
- Total assets
- 126.3 m USD
- Debt / equity
- 0.58x
- Current ratio
- 4.83x
- ROE
- unavailable
- ROA
- -61.0%
- FCF margin
- -170.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.9 m | 13.7 m | 16.4 m | 22.4 m | 22.5 m | 35.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Cost of revenue | 22.3 m | 14.5 m | 13.7 m | 19.3 m | 21.9 m | 19.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Gross profit | -17.4 m | -811.0 k | 2.7 m | 3.1 m | 533.0 k | 15.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Research & development | 20.4 m | 27.2 m | 39.7 m | 48.8 m | 41.1 m | 31.6 m | SEC (XBRL)· 02 Mar 2026verified |
| SG&A | 41.4 m | 29.2 m | 31.6 m | 29.9 m | 34.2 m | 52.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Operating income | -79.1 m | -57.2 m | -68.6 m | -75.6 m | -74.8 m | -68.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Depreciation & amortisation | 1.1 m | 1.2 m | 985.0 k | 1.3 m | 1.5 m | 1.5 m | SEC (XBRL)· 02 Mar 2026verified |
| EBITDA | -78.0 m ≈ | -55.9 m ≈ | -67.6 m ≈ | -74.3 m ≈ | -73.4 m ≈ | -66.8 m ≈ | SEC (XBRL)· 02 Mar 2026derived |
| Interest expense | 16.2 m | 16.7 m | 18.7 m | 11.1 m | 8.4 m | 5.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Pre-tax income | — | — | — | — | -78.6 m | -69.1 m | SEC (XBRL)· 02 Mar 2026verified |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | SEC (XBRL)· 02 Mar 2026verified |
| Net income | -175.2 m | -302.5 m | 142.1 m | -60.4 m | -78.6 m | -69.1 m | SEC (XBRL)· 02 Mar 2026verified |
| Diluted EPS | -0.77 | -0.72 | -0.11 | -0.11 | -2.50 | -1.66 | SEC (XBRL)· 02 Mar 2026verified |
| Weighted average diluted shares | 227.9 m | 422.3 m | 618.2 m | 568.0 m | 31.5 m | 41.7 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 18.0 m | 33.5 m | 35.8 m | 75.7 m | 74.6 m | 40.2 m | SEC (XBRL)· 02 Mar 2026verified |
| Receivables | — | — | — | — | 6.3 m | 12.1 m | SEC (XBRL)· 07 May 2026verified |
| Inventories | 5.3 m | 6.3 m | 7.3 m | 8.8 m | 4.4 m | 6.7 m | SEC (XBRL)· 02 Mar 2026verified |
| Current assets | 30.2 m | 144.4 m | 161.2 m | 130.0 m | 91.4 m | 117.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Property, plant & equipment, net | 1.6 m | 1.3 m | 1.1 m | 1.2 m | — | — | SEC (XBRL)· 01 Mar 2024verified |
| Intangibles (excl. goodwill) | — | — | — | — | — | 600.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Total assets | 35.9 m | 198.9 m | 177.7 m | 138.2 m | 100.4 m | 126.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Accounts payable | 1.8 m | 1.2 m | 419.0 k | 4.6 m | 3.2 m | 4.1 m | SEC (XBRL)· 02 Mar 2026verified |
| Long-term debt | 57.2 m | 59.8 m | 56.4 m | 41.2 m | 34.7 m | 35.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Current liabilities | 16.6 m | 18.4 m | 31.5 m | 17.3 m | 38.8 m | 24.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Total liabilities | 177.2 m | 384.5 m | 142.6 m | 64.8 m | 79.3 m | 65.2 m | SEC (XBRL)· 02 Mar 2026verified |
| Equity | -144.1 m † | -185.5 m † | -2.6 m † | 35.8 m † | -16.6 m † | 61.0 m † | SEC (XBRL)· 02 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -67.4 m | -56.1 m | -66.3 m | -70.2 m | -60.5 m | -59.1 m | SEC (XBRL)· 02 Mar 2026verified |
| Capex | 181.0 k | 210.0 k | 312.0 k | 350.0 k | 2.2 m | 1.1 m | SEC (XBRL)· 02 Mar 2026verified |
| Free cash flow | -67.6 m ≈ | -56.3 m ≈ | -66.6 m ≈ | -70.5 m ≈ | -62.7 m ≈ | -60.2 m ≈ | SEC (XBRL)· 02 Mar 2026derived |
| Investing cash flow | -181.0 k | -148.7 m | 26.9 m | 89.7 m | 32.8 m | -53.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Financing cash flow | -10.1 m | 220.1 m | 41.8 m | 20.4 m | 26.8 m | 78.2 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 476.9 m USD
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -91.1% | 9 (vs peers) | 24% |
| Net margin · Quality | -225.3% | 13 (vs peers) | 14% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 29.1% | 100 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -21.0x | 0 (on a fixed band) | 14% |
| Current ratio · Balance sheet | 6.7x | 100 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -20.3% | 0 (on a fixed band) | 19% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality11/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Senseonics Holdings, Inc. (SENS). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 35.3 m USD in 2025; YoY growth 56.9%; net margin -225.3%; ROE -118.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 29.1%
- Current ratio: 6.7x
What contradicts it
- ROIC: -91.1%
- Net margin: -225.3%
- Interest coverage: -21.0x
- FCF yield: -20.3%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Industrial Instruments For Measurement, Display, and Control (SIC 3823) · same industry (4-digit SIC) · compared with 15 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DHRDanaher Corporation | 165.3 bn | 38.4 | 8.3% | 16.9% | +2.9% | +4% / +5% |
| AMEAMETEK, Inc. | 54.4 bn | 33.4 | 14.7% | 19.9% | +6.6% | +20% / +53% |
| ROPRoper Technologies, Inc. | 48.7 bn | 19.4 | 13.2% | 30.7% | +12.3% | +10% / −9% |
| KEYSKeysight Technologies, Inc. | 48.7 bn | 39.2 | 20.6% | 19.1% | +8.0% | +44% / +110% |
| FTVFortive Corporation | 20.3 bn | 32.5 | 10.5% | 14.8% | +1.9% | +28% / +31% |
| MKSIMks Inc. | 13.2 bn | 31.1 | 15.9% | 10.1% | +9.6% | +25% / +136% |
| CGNXCognex Corp | 8.9 bn | 51.3 | 11.1% | 16.1% | +8.7% | +39% / +41% |
| RALRalliant Corporation | 7.9 bn | — | -51.8% | -52.1% | −4.0% | +45% / unavailable |
| STSensata Technologies Holding PLC | 6.0 bn | 16.5 | 12.7% | 9.5% | −5.8% | +28% / +26% |
| MLABMesa Laboratories Inc | 706.1 m | 148.1 | 2.7% | 1.9% | +3.4% | +57% / +48% |
| SENSSenseonics Holdings, Inc. | 476.9 m | — | -118.2% | -225.3% | +56.9% | +35% / −16% |
| HURCHurco Companies, Inc. | 137.6 m | — | -3.3% | -3.6% | −4.3% | +31% / +1% |
| SYPRSypris Solutions, Inc. | 29.2 m | — | -69.9% | -9.2% | −14.5% | −42% / −33% |
| CLIRClearsign Technologies Corporation | 16.5 m | — | -51.7% | -96.1% | +45.6% | −67% / −80% |
| FCUVFocus Universal Inc. | 2.2 m | — | -106.0% | -637.2% | −35.9% | −98% / −99% |
| POASPhaos Technology Holdings (Cayman) Limited | — | — | -363.8% | -4,662.3% | −19.3% | −98% / unavailable |
1- and 3-year price returns: for SENS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Senseonics Holdings develops and commercializes an implantable continuous glucose monitoring system, Eversense, for people with diabetes. In 2026 the company brought commercial operations in the United States and Europe in-house, and quarterly revenue rose sharply to 14.5 million USD in the second quarter of 2026.
SWOT
Strengths
- Eversense offers a wear period for its sensor far longer than non-implantable systems, and the company has secured coverage covering hundreds of millions of insured lives in the US 1.
- Revenue growth in the second quarter of 2026 and a high gross margin show that bringing commercial activity in-house has worked for at least two consecutive quarters 3.
- Direct control over sales in the US and Europe gives the company a larger share of revenue from each sale 12.
Weaknesses
- The company has not been profitable from operations and expects to keep incurring losses in the coming years, with a very large accumulated deficit 1.
- Selling, general and administrative expenses rose sharply after taking over commercial activity, which pressures financial results 3.
- The company has a short commercial track record and depends heavily on coverage and reimbursement by third-party payors 1.
Opportunities
- Expanding the Eon Care network and the direct-to-consumer campaign could increase the number of US patients 3.
- The launch of Eversense 365 in Europe and compatibility with automated insulin delivery systems could open new patient segments 23.
- Development of future generations such as Gemini and Freedom could broaden the product range 13.
Threats
- Technological progress by competitors could reduce Eversense's competitiveness or make the product less attractive 1.
- Changes in reimbursement policy or delays in tender processes could slow sales 13.
- Uncertain economic and regulatory conditions, including the effects of tariffs, could affect the company's business 3.
Risks
- Unfinished commercial transitionhigh
Taking over commercial activity in Europe depends on finalizing agreements and on uncertain approval processes, and final costs could exceed what the company expects 1.
- Persistent operating losseshigh
The company has not yet been profitable and expects losses in the coming years, which could affect equity and its ability to obtain financing 1.
- Dependence on reimbursementmedium
Sales depend on decisions by third-party payors and authorities, and changes to those decisions could reduce demand 1.
- Indebtedness and financing conditionsmedium
Debt and credit instruments could influence the company's decisions, and obtaining future borrowings depends on meeting certain conditions 3.
- Volatility of results and share pricelow
Results can fluctuate significantly from quarter to quarter, and the share price has been volatile and could remain volatile 1.
Investment thesis
What would need to be true (bull case)
- If revenue and gross margin growth continue, the company could show that the in-house commercial model works and move closer to profitability.
- Eon Care and the direct-to-consumer campaign could strengthen Eversense's position in the US, where growth has already been strong 3.
- The launch of Eversense 365 in Europe and integration with automated insulin systems could open new revenue sources.
What would break the thesis
- The company has not yet been profitable and selling expenses have risen sharply, so losses could persist if revenue growth does not keep pace.
- Dependence on tenders and European approvals could slow the transition, and the European contribution could stay small for longer than expected.
- Technological competition and possible changes in reimbursement could shrink the market accessible to Eversense.
What to watch
- Evolution of European revenue after tender timing normalizesQ3 2026
- Achievement of the 62-66 million USD full-year 2026 revenue guidance2026
- Progress of Eon Care toward its target of 100 nursesyear-end 2026
- Pace of selling and marketing expenses after full integration of commercial operationsnext quarterly report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Senseonics is a medical technology company that develops and commercializes Eversense, an implantable CGM system with an under-the-skin sensor, a rechargeable smart transmitter and a mobile app, worn for up to 365 days for Eversense 365 and six months for Eversense E3, compared with seven to 15 days for non-implantable CGM systems 1. From January 1, 2026 the company took over full commercial responsibility for Eversense in the United States from Ascensia, and it closed the transition of its European business in June 2026 12. Revenue comes from sales of sensor and transmitter packs, sometimes including insertion and removal procedures, and sales depend on coverage and reimbursement by third-party payors 1.
The sales structure changed substantially during 2026. The company sells directly to its network of distributors and fulfillment partners in the US, while in Europe it sells mainly to hospital networks under tender agreements and through distributors 12. The Eon Care network, acquired as an insertion asset, extends US patient access through in-office and at-home insertion procedures 13.
Recent growth was supported by a direct-to-consumer campaign in the US, a rise in active prescribers and the expansion of Eon Care, which has passed 90 nurses 3. The company also raised additional capital in the second quarter of 2026 through an equity offering and an expanded credit facility with Hercules Capital 3.
Segments
Eversense in the United States
The US segment generated 12.6 million USD in the second quarter of 2026, growth of more than 150% year-over-year, and the company reported its highest quarterly shipment volume in its history 3. Here the company sells through distributors and fulfillment partners, with invoices to insurance payors 13.
Market context
Diabetes is a chronic disease with no known cure, and the International Diabetes Federation estimates that 589 million people worldwide had diabetes, a number that could reach 853 million by 2050 1. Type 2 diabetes accounts for over 90% of cases, and the company expects growth in CGM sales to be driven by higher penetration in both type 1 and type 2 patients 1.
The market depends on reimbursement: the company says it has reached about 300 million covered lives in the US through favorable coverage decisions, and in Medicare Eversense is paid as a medical benefit 1. If this coverage expands or narrows, demand for the product could be affected.
Trends
- Growing CGM adoption among type 2 patientstailwind
The company expects CGM penetration to rise in both type 1 and type 2 patients, given the large number of people affected 1.
- Expanding reimbursement coveragetailwind
Favorable payor decisions and Medicare coverage for Eversense E3 and Eversense 365 could support patient access to the product 1.
- Margin and integration cost pressureheadwind
Integrating commercial operations raised selling, general and administrative expenses, and the net loss in the second quarter of 2026 remained significant, which could keep pressure on profitability 3.
- Dependence on tenders and European approvalsmixed
Access to European markets depends on tender processes that vary by country and on timelines that are hard to predict, which could slow growth outside the US 13.
Competitive position
The CGM market is competitive, and the company's main competitors, along with other companies, medical researchers and existing device makers, are developing new delivery, sensing and treatment technologies for diabetes monitoring 1. Any technological breakthrough could reduce the potential market for Eversense or make it less competitive 1.
Eversense's stated advantage is the long wear period of its implanted sensor compared with non-implantable systems that last days to weeks, but the company is still in the early stages of commercializing this brand 1.
- Ascensia Diabetes Care
Former exclusive worldwide distribution partner for Eversense, from which the company took over commercial activities in the US and Europe in 2026 12.
- Makers of non-implantable CGM systems
Competitors in the category whose skin-worn sensors have shorter wear periods but are already widely adopted 1.
- Developers of new monitoring and treatment technologies
Researchers and companies working on new sensing and delivery technologies could change the market if they achieve favorable results 1.
- Insulin pump and AID system makers
Compatibility of Eversense with automated insulin delivery systems such as twiist can be both an opportunity and a competitive pressure in the same patient segment 23.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report08 Jun 2026Other events
- Current report20 May 2026Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Current report04 May 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report01 May 2026Material agreement · Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement06 Apr 2026
- Current report12 Mar 2026Material agreement
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Senseonics Holdings, Inc. · 02 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Senseonics Holdings, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Senseonics Holdings, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.