Senseonics Holdings, Inc. (SENS): History, Ownership, Mission, How It Works & Makes Money

With Senseonics Holdings, Inc. (SENS) projecting full-year 2025 global net revenue of approximately $35 million, up from $22.47 million in 2024, are you defintely tracking the momentum behind the world's only long-term implantable Continuous Glucose Monitoring (CGM) system? The company's flagship Eversense 365 product, which lasts a full year with a single sensor, is driving this growth, evidenced by the 160% surge in U.S. new patient starts in the third quarter of 2025 alone. That's a serious market signal, but what does the recent 1-for-20 reverse stock split and the planned commercial transition away from Ascensia Diabetes Care mean for its long-term financial health and gross margins, which are now expected to hit 35% to 40% this year? You need to understand the full picture-history, ownership, and the core business model-to properly value this disruptive player in the diabetes care space.

Senseonics Holdings, Inc. (SENS) History

You're looking to understand the foundation of Senseonics Holdings, Inc., and honestly, the story is a classic med-tech slow burn that's finally hitting an inflection point. The direct takeaway is this: the company spent decades perfecting its implantable continuous glucose monitor (CGM) technology, and now, in 2025, it's making aggressive moves-like reclaiming its commercial rights and moving to the Nasdaq-to capture the full financial upside of its long-term product, Eversense 365.

Given Company's Founding Timeline

Year established

Senseonics Holdings, Inc. was established in 1996.

Original location

The company was originally located in Germantown, Maryland, which is still its headquarters today.

Founding team members

The founding team members included Dr. James R. Brauker, Dr. Timothy S. Sayler, and Dr. Mirko Reeder.

Initial capital/funding

While the specific initial seed capital isn't public, the company has raised a total of $165 million in funding over 15 rounds since its inception. To be fair, a recent and crucial injection was a Post IPO funding round of $20.3 million on May 20, 2025, which definitely helped fuel the current commercial push.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory has been shaped by three major, transformative decisions that shifted it from a pure R&D shop to a commercial growth engine.

• FDA Approval of Eversense and Eversense 365: The 2018 FDA approval of the initial Eversense system was the first major commercial gate. The subsequent 2024 approval and launch of the Eversense 365-the world's only once-yearly CGM-was the true game-changer. This product innovation is the core driver of the projected 2025 global net revenue of between $34 million and $38 million.
• The Ascensia Diabetes Care Partnership and Pivot: The initial partnership with Ascensia was crucial for global distribution, but the September 2025 Memorandum of Understanding to take over commercialization and distribution of Eversense 365 (effective January 1, 2026) is the real pivot. This move allows Senseonics to retain 100% of gross profits, which is expected to catapult gross margins from the projected 25% to 30% in 2025 to over 50% in 2026. That's a massive shift in the business model.
• Strategic Financial Realignment in 2025: The company's actions in late 2025 show a clear focus on financial maturity. The 1-for-20 reverse stock split in October 2025, reducing shares to about 41 million, was a direct action to improve market perception and trading. Also, the November 2025 transfer to the Nasdaq Stock Exchange is a move designed to increase exposure to institutional investors, like BlackRock, Inc., who are already among the largest shareholders.

The company is on a clear path to profitability, driven by a nearly doubling global patient count in 2025 and a 160% new patient growth in the U.S. during Q3 2025 alone. If you want a deeper dive into the numbers, you should check out Breaking Down Senseonics Holdings, Inc. (SENS) Financial Health: Key Insights for Investors.

Senseonics Holdings, Inc. (SENS) Ownership Structure

Senseonics Holdings, Inc. is a publicly traded medical technology company, and its ownership is a mix of institutional funds, individual insiders, and the general public, with retail investors holding the largest percentage of shares as of late 2025. This structure means the company's strategic direction is influenced by a diverse group of stakeholders, but the high retail ownership can lead to more volatility than a stock heavily controlled by a few large institutions.

Senseonics Holdings, Inc.'s Current Status

Senseonics Holdings, Inc. is a public company traded on the NYSE American under the ticker symbol SENS. This status requires the company to adhere to rigorous financial reporting and transparency standards, which is why we have access to this detailed ownership data. The company is actively executing its commercial strategy, as evidenced by its Q3 2025 earnings call on November 5, 2025, where management detailed progress on the Eversense 365, its long-term continuous glucose monitoring (CGM) system. One year, one CGM. You can dig deeper into the financials and market position in Breaking Down Senseonics Holdings, Inc. (SENS) Financial Health: Key Insights for Investors.

Senseonics Holdings, Inc.'s Ownership Breakdown

The ownership breakdown, based on the most recent filings and data for the 2025 fiscal year, shows a clear majority held by the general public. Institutional investors, while representing some of the largest asset managers like Vanguard Group Inc. and BlackRock, Inc., hold a smaller combined stake than you might expect for a company of this size. Here's the quick math on who holds the equity:

What this estimate hides is the potential for rapid change in the institutional column; for example, Vanguard Group Inc. and BlackRock, Inc. are consistently among the top holders, but their positions shift quarter-to-quarter.

Senseonics Holdings, Inc.'s Leadership

The company is steered by a seasoned management team, with long tenures for the top roles, which gives you a sense of stable operational experience. The Chief Executive Officer, Tim Goodnow, has been in his role since 2011, providing a defintely consistent vision for the long-term implantable CGM technology. The key executives driving the strategy as of November 2025 include:

• Tim Goodnow: President and Chief Executive Officer (CEO).
• Rick Sullivan (Frederick Sullivan): Chief Financial Officer (CFO), Secretary & Treasurer.
• Mukul Jain: Chief Operating Officer (COO), overseeing Quality, Regulatory, and Global Operations.
• Dr. Francine R. Kaufman: Chief Medical Officer (CMO), a leading endocrinologist driving clinical value.

The company is also preparing for a commercial transition, with Brian Hansen set to join as Chief Commercial Officer on January 1, 2026, a move that signals a focus on accelerating sales and market adoption.

Senseonics Holdings, Inc. (SENS) Mission and Values

Senseonics Holdings, Inc. stands for transforming diabetes management by pioneering long-term, implantable continuous glucose monitoring (CGM) technology, aiming to simplify life for patients through precision and convenience. Their core purpose is rooted in a belief that innovation should directly translate into a less burdensome life for the global diabetes community.

You're looking beyond the balance sheet to understand the company's cultural DNA, and honestly, that's smart. A clear mission and defined values are what drive the team when the market gets volatile. For instance, the company is on track to double its global patient base in 2025, a goal directly tied to its patient-centric focus, even while projecting cash utilization of approximately $60 million for the year.

Senseonics Holdings, Inc.'s Core Purpose

The company's purpose is clearly demonstrated by its flagship product, Eversense 365, the world's first year-long continuous glucose monitoring system. This focus on long-term solutions-up to 365 days with a single sensor-is the ultimate expression of their commitment to reducing the daily burden of diabetes management. That's a powerful differentiator in a crowded market.

Official Mission Statement

While a single, formal mission statement isn't always explicitly published, Senseonics' actions and public communications consistently point to a triple-pillar mandate. This implied mission is what guides their research and commercial strategy, especially as they transition to a fully-integrated commercial organization.

• Innovation in Glucose Monitoring Technology: Creating advanced, long-term implantable glucose sensors.
• Improving the Lives of People with Diabetes: Offering solutions that enhance convenience, accuracy, and overall health management.
• Commitment to Quality and Reliability: Ensuring products meet high standards of safety and performance.

Vision Statement

The company's strategic initiatives paint a clear picture of where they want to be: the global leader in their niche. This synthesized vision emphasizes both market position and the standard of care they intend to set. You can see this ambition in their Q3 2025 performance, where revenue grew by 90% year-over-year, driven by a 160% rise in new patient shipments.

• To be the leading global provider of long-term implantable glucose monitoring systems.
• Setting the standard for accuracy, convenience, and patient empowerment in diabetes management.

Senseonics Holdings, Inc. Core Values

The core values are the operational principles that translate the mission into daily work, from the lab to the sales floor. They are simple, defintely not corporate clichés, and reflect the medical technology focus. The favorable margins on the Eversense 365 product, which helped push the Q3 2025 gross margin to approximately 42.8%, are a direct result of this focus on technical excellence and innovation.

• Customer Dedication: Focus on people with diabetes, their families, and caregivers.
• Technical Excellence: Combining chemistry and engineering to produce highly accurate, safe, and integrated solutions.
• Passion for Innovation: A dynamic, results-oriented team focused on making truly innovative products.

For a deeper look at who is betting on these values, check out Exploring Senseonics Holdings, Inc. (SENS) Investor Profile: Who's Buying and Why?. The company's recent investor materials also use a simple, powerful tagline that summarizes their current strategic focus: 'One Year. One CGM. One Company.'

Senseonics Holdings, Inc. (SENS) How It Works

Senseonics Holdings, Inc. operates by developing and commercializing the world's only long-term, implantable continuous glucose monitoring (CGM) systems, which measure glucose levels for up to a full year with a single sensor insertion. This model creates value by offering unparalleled convenience and discretion to people with diabetes, shifting the burden from frequent self-applied sensors to a healthcare provider-managed annual procedure.

Senseonics Holdings, Inc.'s Product/Service Portfolio

The company's core business is built around its proprietary Eversense CGM platform, which combines a fluorescence-based sensor, a removable smart transmitter, and a mobile application for real-time data. The focus in 2025 is clearly on the one-year sensor, which drives the anticipated full-year global net revenue of approximately $35 million.

Senseonics Holdings, Inc.'s Operational Framework

You're seeing Senseonics transition from a partner-led model to a fully-integrated commercial organization, which is a major operational shift happening right now. They are taking back control of global sales, marketing, and commercialization from Ascensia Diabetes Care, with the U.S. transition set to complete by January 1, 2026. This move is all about controlling their own destiny to accelerate growth.

Here's the quick math: The company expects to use about $60 million in cash from operations in 2025 as it funds this transition and ramps up its Direct-to-Consumer (DTC) marketing efforts. This DTC strategy is working, driving a 300% increase in patient leads year-over-year in Q3 2025, with about 60% of new patients coming from this advertising.

• Manufacturing & Supply: Produce the sensor (a small, implantable device coated with a glucose-indicating polymer) and the external, rechargeable Smart Transmitter.
• Commercialization & Logistics: Execute a hybrid commercial approach, combining DTC marketing with professional provider engagement.
• Insertion Network: Utilize Eon Care, which handles approximately 1/4 of all Eversense insertions nationwide, to standardize the patient experience and ensure access.
• Revenue Cycle: Revenue is heavily weighted to the second half of 2025 because the Eversense 365 system's once-a-year reorder dynamic means patients who started in Q4 2024 will be due for their first re-insertion (and product purchase) in Q4 2025.

You can get a deeper look at the financial implications of this transition in Breaking Down Senseonics Holdings, Inc. (SENS) Financial Health: Key Insights for Investors.

Senseonics Holdings, Inc.'s Strategic Advantages

Senseonics' primary advantage is its disruptive technology that solves a major patient pain point: sensor fatigue. The long-term implantable sensor is a huge differentiator in the highly competitive CGM market.

• Unmatched Wear Time: The Eversense 365 is the world's first and only CGM system approved for one full year of continuous use, requiring only one insertion and removal procedure annually.
• Discretion and Comfort: The sensor is fully implanted under the skin, which is a key selling point for patients who want a discreet solution and do not want to deal with frequent self-insertions or visible patches.
• Accuracy Profile: The Eversense 365 demonstrated an 8.8% Mean Absolute Relative Difference (MARD), an exceptional accuracy metric over the full 365-day period.
• Future Integration: The company is actively pursuing integration with Automated Insulin Delivery (AID) systems, having entered a commercial development agreement to integrate Eversense 365 with Sequel Med Tech's twiist™ AID system, with a launch expected in Q4 2025.

They are defintely playing the long game here, focusing on the quality-of-life benefits that a one-year sensor provides, which analysts see as a key driver for future market share gains.

Senseonics Holdings, Inc. (SENS) How It Makes Money

Senseonics Holdings, Inc. generates revenue primarily through the sale of its Eversense continuous glucose monitoring (CGM) system, which includes the long-term implantable sensor and the reusable smart transmitter, to patients, healthcare providers, and its commercial partners globally.

The business model is centered on a high-margin, recurring revenue stream from the annual reorder of the Eversense 365 sensor, which is the world's only one-year implantable glucose sensor, plus the initial sale of the external transmitter and associated service fees.

Senseonics Holdings, Inc.'s Revenue Breakdown

Based on the third quarter of 2025 results, the company's revenue is heavily weighted toward the U.S. market, which is seeing a significant acceleration in patient adoption due to the launch of the 365-day product and expanded direct-to-consumer (DTC) marketing efforts.

Here's the quick math: Of the $8.1 million in total revenue reported for Q3 2025, $6.4 million came from the U.S., making up nearly 80% of the total.

Business Economics

The core economic engine is the Eversense 365 implantable sensor, which is a high-duration, high-value product. The company's strategy is to capture more of the gross profit (the money left after manufacturing costs) by taking over commercialization.

• Margin Expansion: Senseonics is transitioning from a revenue-sharing model with Ascensia Diabetes Care to full self-commercialization starting in early 2026. This move is expected to eliminate the revenue-sharing drag and catapult gross margins from the 2025 guidance of 35%-40% to an anticipated 50% in 2026, with a long-term goal of over 70% at scale.
• Recurring Revenue: The 365-day sensor requires an annual reinsertion, creating a predictable, recurring revenue stream from existing patients. This annual reorder cycle is why the company anticipates a heavy weighting of revenue in the fourth quarter of 2025.
• Payer Dynamics: Securing positive reimbursement from the Centers for Medicare & Medicaid Services (CMS) for the full-year product, effective retroactively to January 1, 2025, was a major catalyst, ensuring access for eligible Medicare beneficiaries. This helps drive patient adoption and reduces out-of-pocket costs, which defintely lowers a key barrier to entry.
• Patient Acquisition Cost (PAC): The company is investing heavily in direct-to-consumer (DTC) marketing, which drove a 160% increase in U.S. new patient starts in Q3 2025. The goal here is to acquire a patient once and generate a high-margin, recurring revenue stream for many years.

Senseonics Holdings, Inc.'s Financial Performance

The company is in a high-growth, high-investment phase, focusing on scaling its commercial operations and improving profitability per unit. You can see the shift from a partner-led model to an internal, margin-focused one in the latest numbers.

• Revenue Growth: Full-year 2025 global net revenue is guided to be approximately $35 million. This is fueled by a 90% year-over-year revenue increase in Q3 2025, showing strong commercial momentum.
• Gross Profit Turnaround: Gross profit for Q3 2025 was $3.5 million, a significant turnaround from a gross loss in the prior year, reflecting the improved margins of the Eversense 365 system.
• Operating Expenses: Selling, General, and Administrative (SG&A) expenses increased to $15.3 million in Q3 2025, driven by the necessary ramp-up in DTC marketing and sales personnel to support the new commercial strategy. What this estimate hides is the future cost savings from eliminating the Ascensia revenue share.
• Liquidity and Burn Rate: The net loss for Q3 2025 narrowed to $19.5 million. The company expects to use approximately $60 million in cash from operations for the full year 2025, so cash management and revenue acceleration remain critical.

For deeper insights into the company's balance sheet and cash flow, you should read Breaking Down Senseonics Holdings, Inc. (SENS) Financial Health: Key Insights for Investors. Finance: track the Q4 reorder revenue against the $35 million full-year target by the end of the year.

Senseonics Holdings, Inc. (SENS) Market Position & Future Outlook

Senseonics Holdings, Inc. is an emerging player in the Continuous Glucose Monitoring (CGM) market, differentiated by its long-term, implantable Eversense system, which positions it for niche growth but still faces significant commercial execution hurdles against dominant competitors. The company is projecting a full-year 2025 global net revenue of approximately $35 million, a figure that reflects the ongoing, critical rollout and adoption of the year-long Eversense 365 product in the US and its planned expansion into Europe.

Competitive Landscape

In the CGM space, Senseonics is the clear challenger, fighting for traction against two massive, well-established market leaders. Its unique advantage is the 365-day wear time, but that requires a minor surgical insertion procedure, which is a major barrier to entry for many patients. Here's how the landscape looks as of late 2025, where the market is largely a duopoly.

Opportunities & Challenges

You're seeing a classic innovator's dilemma here: a superior, differentiated product (year-long wear) versus the entrenched convenience of the incumbents. The next 12-18 months are defintely about executing on the commercial strategy, especially as the company takes over sales from its partner.

Industry Position

Senseonics Holdings, Inc. holds a unique, but currently small, position in the CGM industry. They are the only company offering a year-long implantable sensor, which directly addresses patient fatigue from the frequent replacement required by competitors' 10- to 14-day wear systems. This is a game-changer for patient compliance, but still, the insertion procedure is a hurdle.

The company's strategic move to the Nasdaq Global Select Market, effective November 17, 2025, is a clear signal of its growth aspirations, aiming for better visibility and liquidity among technology and biotech investors. Also, the Q3 2025 revenue growth of 90% year-over-year, fueled by a 160% surge in new US patients, shows that the direct-to-consumer (DTC) marketing efforts are working.

• Focus on long-term wear is the primary moat against competitors.
• New patient shipments hit an all-time high in September 2025.
• Partnerships like Eon Care now facilitate approximately 25% of all US insertions.
• The Mission Statement, Vision, & Core Values of Senseonics Holdings, Inc. (SENS) emphasizes this long-term, patient-centric approach.

To be fair, the company is still operating at a net loss-about $19.5 million in Q3 2025-so scaling up commercial operations without draining the cash reserves is the most critical next step. Finance: monitor cash burn rate against patient acquisition cost weekly.