Senseonics stock rises ~5% after hours on Q2 results beat, unchanged FY revenue guidance

Aug. 09, 2022 5:17 PM ETSenseonics Holdings, Inc. (SENS)By: Anuron Mitra, SA News Editor3 Comments

Rolled newspaper with the headline Quarterly Results

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  • Shares of Senseonics (NYSE:SENS) gained 5.4% to $1.96 in Tuesday postmarket trading, after the company reported Q2 results that beat estimates and kept it FY 2022 revenue guidance unchanged.
  • Germantown, Md.-based SENS is medical device company catering to diabetics. Its flagship product is the Eversense E3 continuous glucose monitoring system.
  • SENS posted Q2 GAAP EPS of $0.22 which beat estimates by $0.26. Its Q2 revenue of $3.7M rose 12.1% Y/Y and beat by $0.12M.
  • The company also reaffirmed its FY 2022 global net revenue guidance of $14M to $18M. The consensus revenue estimate is $16.83M.
  • Last week, SENS said it had received a positive coverage decision for the Eversense E3 system from Anthem, now called Elevance Health (ELV), added over 45M covered lives for the system.
  • Investors reacted favorably to the news and saw the decision as a revenue booster. SENS stock closed more than 20% higher on both Aug. 3 and 4.

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