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

Ever wondered about the company revolutionizing diabetes management with its long-term implantable glucose monitoring systems? Senseonics Holdings, Inc. (SENS) is making waves in the medical technology field, but how exactly did they get here, who owns the company, and what's their master plan? Keep reading to discover the fascinating history, ownership structure, and mission of Senseonics, plus a breakdown of their innovative technology and revenue streams.

Senseonics Holdings, Inc. (SENS) History

Senseonics Founding Timeline

Year established

Senseonics Holdings, Inc. was established in 1996.

Original location

The company was originally located in Germantown, Maryland.

Founding team members

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

Initial capital/funding

Information regarding the initial capital and funding for Senseonics is not readily available in the provided search results.

Senseonics Evolution Milestones

Senseonics Transformative Moments

• FDA Approval of Eversense: The FDA approval of the Eversense CGM system was a transformative moment, allowing the company to commercialize its long-term implantable glucose monitoring technology in the United States.
• Partnership with Ascensia Diabetes Care: Partnering with Ascensia Diabetes Care significantly expanded Senseonics' commercial reach and market penetration. Ascensia's global presence and expertise in diabetes care helped to promote and distribute Eversense worldwide.
• Development and Approval of Eversense E3: The development and subsequent FDA approval of the Eversense E3, which offers a longer sensor life of up to 180 days, represented a major advancement in the company's technology and significantly improved the user experience.
• Strategic Funding and Investments: Securing substantial funding through various investment rounds has enabled Senseonics to invest in research and development, manufacturing, and commercialization efforts, driving innovation and growth.

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Senseonics Holdings, Inc. (SENS) Ownership Structure

Senseonics Holdings, Inc. features a mixed ownership structure, encompassing public shareholders, institutional investors, and potentially company insiders.

Senseonics' Current Status

Senseonics Holdings, Inc. is a publicly traded company, meaning its shares are available for purchase on stock exchanges by the general public.

Senseonics' Ownership Breakdown

The ownership of Senseonics is distributed among various types of shareholders. Here's a breakdown:

Senseonics' Leadership

The leadership team is responsible for the strategic direction and operational management of Senseonics. Key members include:

• Ron Rittenmeyer: Chairman of the Board
• Rick Legleiter: Interim Principal Executive Officer
• James P. Boland: Director
• Don Hardison: Director

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Senseonics Holdings, Inc. (SENS) Mission and Values

Senseonics' mission and values reflect a commitment to transforming lives through innovative glucose monitoring technology. The company strives to empower individuals with diabetes to live healthier and more confident lives by providing them with continuous, accurate, and actionable insights into their glucose levels.

Senseonics' Core Purpose

Official mission statement

Senseonics' mission statement is: 'To transform lives in the global diabetes community with differentiating sensor technology and improve outcomes.' This encapsulates the company's dedication to leveraging cutting-edge sensor technology to make a tangible difference in the lives of people managing diabetes.

Vision statement

While a specific formal vision statement may not be explicitly publicized, the vision of Senseonics can be inferred from their actions and goals. Their vision includes:

• Becoming a global leader in long-term continuous glucose monitoring (CGM) solutions.
• Revolutionizing diabetes management through innovative and user-friendly technology.
• Improving the health and well-being of individuals with diabetes by providing them with actionable insights and empowering them to make informed decisions about their care.

Company slogan/tagline

Senseonics uses the tagline 'The future of glucose monitoring, now.' This succinct statement conveys the company's focus on innovation and its commitment to providing advanced CGM solutions that are available today.

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Senseonics Holdings, Inc. (SENS) How It Works

Senseonics Holdings, Inc. is a medical technology company focused on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for people with diabetes. These systems are designed to improve the lives of diabetic patients by providing them with actionable insights into their glucose levels.

Senseonics' Product/Service Portfolio

Senseonics' Operational Framework

Senseonics operates through the following key processes:

• Research and Development: Senseonics invests in R&D to develop long-lasting and accurate CGM systems.
• Manufacturing: The company partners with manufacturers to produce its sensors and transmitters.
• Regulatory Approval: Securing regulatory approvals, such as from the FDA, is critical for commercializing their products.
• Sales and Marketing: Senseonics partners with Ascensia Diabetes Care for the sales and distribution of its products. Ascensia has a large, established network, particularly strong in Europe.
• Physician Training and Support: Comprehensive training programs are provided to healthcare professionals to ensure proper insertion and removal of the Eversense CGM system.
• Patient Support: Ongoing support is offered to patients using the Eversense system to help them manage their diabetes effectively.

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Senseonics' Strategic Advantages

• Long-Term Wearable Sensor: The Eversense E3 system offers a significantly longer sensor wear duration (up to 180 days) compared to traditional CGM systems, which typically require sensor replacement every 7-14 days.
• Improved Patient Compliance: The long-term nature of the sensor may lead to better patient compliance, as it reduces the frequency of sensor insertions and removals.
• Partnership with Ascensia Diabetes Care: This partnership leverages Ascensia's global sales and distribution network, providing Senseonics with access to a broader market.
• Real-Time Data Monitoring: The Eversense CGM system provides users with real-time glucose data, enabling them to make informed decisions about their diet, exercise, and medication.
• Strong Intellectual Property: Senseonics holds patents and intellectual property related to its long-term implantable sensor technology.

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

Senseonics Holdings, Inc. primarily generates revenue through the development, manufacture, and sale of continuous glucose monitoring (CGM) systems for people with diabetes.

Senseonics Holdings, Inc.'s Revenue Breakdown

As of the fiscal year 2024, a detailed breakdown of Senseonics' revenue streams reveals the following:

Senseonics Holdings, Inc.'s Business Economics

Senseonics operates in the competitive landscape of medical device companies, specifically focusing on long-term continuous glucose monitoring (CGM) systems. Their primary product, the Eversense CGM system, distinguishes itself through its fully implantable sensor, designed to provide patients with continuous glucose data for up to 180 days, and now with the E3, up to 365 days. Here are some key aspects of their business economics:

• Pricing Strategy: Senseonics employs a premium pricing strategy, reflecting the innovative nature and long-term benefits of the Eversense CGM system. The pricing model considers the cost of the sensor, the insertion and removal procedures, and the value of continuous glucose data over an extended period.
• Cost Structure: The cost structure includes manufacturing costs, research and development expenses, clinical trial costs, and sales and marketing expenses. A significant portion of their investment is directed towards R&D to enhance product capabilities and extend the sensor's lifespan.
• Distribution Channels: Senseonics utilizes a mix of direct sales and partnerships with healthcare providers to distribute its products. Strategic collaborations with Ascensia Diabetes Care help expand market reach and leverage existing distribution networks.
• Market Dynamics: The CGM market is characterized by technological advancements, increasing diabetes prevalence, and a growing demand for minimally invasive monitoring solutions. Senseonics competes with other major players by emphasizing the long-term accuracy and convenience of its implantable sensor.

Senseonics Holdings, Inc.'s Financial Performance

Senseonics' financial performance in 2024 showcases a company in a growth phase, marked by increasing revenue and strategic investments. Key highlights include:

• Revenue Growth: In 2024, Senseonics reported revenue of $233.6 million, an increase of 25.5% compared to 2023. This growth is attributed to increased market adoption of the Eversense E3 system and expansion in both the U.S. and international markets.
• Gross Margin: The company's gross margin improved to 17.4% in 2024, reflecting enhanced production efficiencies and a favorable product mix.
• Operating Expenses: Operating expenses remain significant due to ongoing investments in R&D and commercialization efforts. These investments are crucial for sustaining a competitive edge and driving future growth.
• Cash Position: Senseonics maintains a healthy cash position, with $153.9 million in cash, cash equivalents and short-term investments as of December 31, 2024, providing financial flexibility for strategic initiatives and operations.

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

As of April 2025, Senseonics is navigating a dynamic market landscape with its Eversense continuous glucose monitoring (CGM) system. The company focuses on long-term implantable sensors, setting it apart from competitors. While specific market share data for 2024 isn't available, the following analysis provides insights into the competitive environment, opportunities, and challenges.

Competitive Landscape

Opportunities & Challenges

Industry Position

Senseonics is a player in the continuous glucose monitoring (CGM) market, which is experiencing substantial growth. The company differentiates itself through its focus on long-term implantable sensors, offering patients a unique alternative to traditional CGM systems that require frequent sensor replacements.

• Innovation: Senseonics is at the forefront of long-term implantable CGM technology.
• Strategic Partnerships: Collaborations with Ascensia Diabetes Care are vital for commercialization and distribution.
• Market Expansion: Opportunities exist in expanding into new geographic regions and patient segments.

To gain more in-depth knowledge about the company's core principles, visit: Mission Statement, Vision, & Core Values of Senseonics Holdings, Inc. (SENS).