Senseonics Shares Drop On Posting Wider Q2 Loss; Backs FY21 Revenue Outlook

Senseonics Holdings Inc SENS posted a second-quarter 2021 loss of $(180.3) million, seeing its bottom line plummet from a loss of just $(7.5) million last year.
Net loss included a $169.43 million increase in other expenses primarily related to non-cash accounting charges and a $3.36 million increase in loss from operations.
Loss per share of $(0.42), missed the consensus of $(0.03).
It posted revenue of $3.29 million compared to $0.26 million for Q2 FY20, beating the consensus of $2.89 million.
The company's gross profit was $0.39 million, compared to a loss of $(1.1) million, primarily due to the fulfillment of orders utilizing existing written-off inventory due to the COVID-19 pandemic.
Cash, cash equivalents, short and long-term investments were $215.0 million, and outstanding indebtedness was $109.9 million.
Outlook: Senseonics' outlook for full-year revenues is unchanged at $12 million - $15 million (consensus $13.8 million).
Price Action: SENS shares are down 8.15% at $2.99 during the market session on the last check Tuesday.

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