Senseonics Holdings, Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
SENS$9.80+14.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| PART I: Financial Information · | ||
|---|---|---|
| | | |
| ITEM 1: Financial Statements | | |
| | | |
| Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024 | | 3 |
| Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2025 and 2024 | | 4 |
| Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the three months ended March 31, 2025 and 2024 | | 5 |
| Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024 | | 6 |
| Notes to Unaudited Condensed Consolidated Financial Statements | | 7 |
| | | |
| ITEM 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations | | 24 |
| | | |
| ITEM 3: Quantitative and Qualitative Disclosures About Market Risk | | 33 |
| | | |
| ITEM 4: Controls and Procedures | | 33 |
| | | |
| PART II: Other Information | | 34 |
| | | |
| ITEM 1: Legal Proceedings | | 34 |
| | | |
| ITEM 1A: Risk Factors | | 34 |
| | | |
| ITEM 2: Unregistered Sales of Equity Securities and Use of Proceeds | | 40 |
| | | |
| ITEM 3: Defaults Upon Senior Securities | | 41 |
| | | |
| ITEM 4: Mine Safety Disclosures | | 41 |
| | | |
| ITEM 5: Other Information | | 41 |
| | | |
| ITEM 6: Exhibits | | 41 |
| | | |
| SIGNATURES | | 42 |
| | | |
Condensed Consolidated Balance Sheet****s
(in thousands, except share and per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · March 31, · · December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| | | | (unaudited) | | | |
| | | | | | | |
| Assets · · · · | ||||||
| Current assets: | | | | | | |
| Cash and cash equivalents | | $39,311 | | $74,597 | ||
| Restricted cash | | | 315 | | | 315 |
| Short term investments, net | | | 24,926 | | | — |
| Accounts receivable, net | | | 1,778 | | | 1,365 |
| Accounts receivable, net - related parties | | | 2,747 | | | 4,921 |
| Inventory, net | | | 4,510 | | | 4,421 |
| Prepaid expenses and other current assets | | 4,786 | | 5,819 | ||
| Total current assets | | 78,373 | | 91,438 | ||
| | | | | | | |
| Deposits and other assets | | 4,835 | | 4,926 | ||
| Property, equipment and intangible assets, net | | 4,003 | | 4,074 | ||
| Total assets | | $87,211 | | $100,438 | ||
| Liabilities and Stockholders’ Equity (Deficit) | | | | | | |
| Current liabilities: | | | | | | |
| Accounts payable | | $2,007 | | $3,205 | ||
| Accrued expenses and other current liabilities | | 7,309 | | 13,636 | ||
| Accrued expenses and other current liabilities, related parties | | | 2,068 | | | 1,870 |
| Notes payable, current portion, net | | | — | | | 20,138 |
| Total current liabilities | | 11,384 | | 38,849 | ||
| | | | | | | |
| Long-term debt and notes payables, net | | | 34,961 | | | 34,703 |
| Non-current operating lease liabilities | | | 5,669 | | | 5,785 |
| Total liabilities | | 52,014 | | 79,337 | ||
| | | | | | | |
| Preferred stock and additional paid-in-capital, subject to possible redemption: $0.001 par value per share; 0 and 12,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024 | | | — | | | 37,656 |
| Total temporary equity | | | — | | | 37,656 |
| | | | | | | |
| Commitments and contingencies | | | | | | |
| | | | | | | |
| Stockholders’ equity (deficit): | | | | | | |
| Common stock, $0.001 par value per share; 1,400,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 654,216,092 shares and 595,351,210 shares issued and outstanding as of March 31, 2025 and December 31, 2024 | | 654 | | 595 | ||
| Additional paid-in capital | | 996,679 | | 930,724 | ||
| Accumulated other comprehensive loss | | | (3) | | | — |
| Accumulated deficit | | (962,133) | | (947,874) | ||
| Total stockholders’ equity (deficit) | | 35,197 | | (16,555) | ||
| Total liabilities, temporary equity and stockholders’ equity (deficit) | | $87,211 | | $100,438 | ||
Unaudited Condensed Consolidated Statements of Operations** and Comprehensive Loss**
(in thousands, except share and per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended | ||||||
| · · March 31, | ||||||
| · 2025 · 2024 | ||||||
| Revenue, net | | $1,810 | | $589 | ||
| Revenue, net - related parties | | | 4,447 | | | 4,458 |
| Total revenue | | | 6,257 | | | 5,047 |
| Cost of sales | | | 4,752 | | | 4,712 |
| Gross profit | | | 1,505 | | | 335 |
| | | | | | | |
| Expenses: | | | | | | |
| Research and development expenses | | | 7,299 | | | 10,438 |
| Selling, general and administrative expenses | | | 7,694 | | 8,129 | |
| Operating loss | | | (13,488) | | (18,232) | |
| Other (expense) income, net: | | | | | | |
| Interest income | | | 675 | | | 1,384 |
| Interest expense | | | (1,429) | | | (2,047) |
| Other (expense) income | | | (17) | | | 18 |
| Total other (expense) income, net | | | (771) | | | (645) |
| | | | | | | |
| Net Loss | | | (14,259) | | | (18,877) |
| Other comprehensive loss | | | | | | |
| Unrealized (loss) gain on marketable securities | | | (3) | | | 9 |
| Other comprehensive (loss) gain | | | (3) | | | 9 |
| Total comprehensive loss | | $(14,262) | | $(18,868) | ||
| | | | | | | |
| Basic net loss per common share | | $(0.02) | | $(0.03) | ||
| Basic weighted-average shares outstanding | | | 718,877,606 | | | 614,588,546 |
| | | | | | | |
| Diluted net loss per common share | | $(0.02) | | $(0.03) | ||
| Diluted weighted-average shares outstanding | | | 718,877,606 | | | 614,588,546 |
Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)
(in thousands)
| | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · · · Accumulated · · · · · · · · · Series B | ||||||||||||||||||||
| · · Common Stock · · Paid-In · · Other · · Accumulated · · Stockholders' · · Convertible | ||||||||||||||||||||
| · Shares · Amount · Capital · Comprehensive Loss · · Deficit · · Equity (Deficit) · Preferred Stock Temporary Equity | ||||||||||||||||||||
| Three months ended March 31, 2024: | | | | | | | | | | | | | | | | | | | | |
| Balance, December 31, 2023 | 530,364 | | $530 | | $904,535 | | $(11) | | $(869,258) | | $35,796 | | $37,656 | |||||||
| Issuance of common stock, net of issuance costs | | 108 | | | — | | | (1) | | | — | | | — | | | (1) | | | — |
| Issuance of common stock for vested RSUs and ESPP purchases | | 368 | | | — | | | 96 | | | — | | | — | | | 96 | | | — |
| Issuance of warrants, net of issuance costs | | — | | | — | | | 149 | | | — | | | — | | | 149 | | | — |
| Stock-based compensation expense | | — | | | — | | | 1,801 | | | — | | | — | | | 1,801 | | | — |
| Shares withheld related to net share settlement of equity awards | | (22) | | | — | | | (11) | | | — | | | — | | | (11) | | | — |
| Net loss | | — | | | — | | | — | | | — | | | (18,877) | | | (18,877) | | | — |
| Other comprehensive gain | — | | | — | | | — | | | 9 | | | — | | | 9 | | | — | |
| Balance, March 31, 2024 | 530,818 | | $530 | | $906,569 | $(2) | | $(888,135) | | $18,962 | | $37,656 | ||||||||
| | | | | | | | | | | | | | | | | | | | | |
| Three months ended March 31, 2025: | | | | | | | | | | | | | | | | | | | | |
| Balance, December 31, 2024 | | 595,351 | | $595 | | $930,724 | | $— | | $(947,874) | | $(16,555) | | $37,656 | ||||||
| Conversion of preferred stock | | 30,372 | | | 30 | | | 37,626 | | | — | | | — | | | 37,656 | | | (37,656) |
| Issuance of common stock, net of issuance costs | 28,212 | | | 28 | | | 26,428 | | | — | | | — | | | 26,456 | | | — | |
| Issuance of common stock for vested RSUs and ESPP purchases | | 281 | | | 1 | | | 61 | | | — | | | — | | | 62 | | | — |
| Stock-based compensation expense | | — | | | — | | | 1,840 | | | — | | | — | | | 1,840 | | | — |
| Net loss | | — | | | — | | | — | | | — | | | (14,259) | | | (14,259) | | | — |
| Other comprehensive loss | | — | | | — | | | — | | | (3) | | | — | | | (3) | | | — |
| Balance, March 31, 2025 | 654,216 | | $654 | | $996,679 | $(3) | | $(962,133) | | $35,197 | | $— | ||||||||
| | | | | | | | | | | | | | | | | | | | | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.