The following is a summary of the Senseonics Holdings, Inc. (SENS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Senseonics' Q1 revenue totaled $5.1 million, marking a growth rate of 22% compared to the previous year, mainly due to high fixed manufacturing costs.

• U.S. sales for Q1 amounted to $3.7 million and non-U.S. sales were $1.4 million.

Business Progress:

• Significant advances have been made in the company's commercial efforts, such as a growing patient base and fruitful collaboration with Mercy Health System.

• Progress has been made in Senseonics' product pipeline with the establishment of the Eversense Remote Patient Monitoring (RPM) program along with achieving the iCGM designation from the FDA.

• Senseonics has submitted the 510(k) for their 365-day product and is planning to make further strides through 2024.

• It is projected that new patient additions will grow by 150% year-over-year aligning with previous estimates.

• A collaborative agreement with Mercy Health System plans to introduce its Eversense CGM product to Mercy's at-risk patient base estimated to be around 30,000, providing both device and RPM sector benefits to Senseonics.

• The approval process for the Eversense 365-day product is on track, with ongoing discussion with Medicare and commercial pay actors.

• Negotiations for integrating with insulin pump manufacturers have begun following the receipt of the iCGM designation from the FDA.

More details: Senseonics IR

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