Senseonics Holdings, Inc. (SENS) witnessed an after-hours plunge of 5.76% on Monday, following the release of its fourth quarter and full-year 2024 financial results.
The medical technology company reported a relatively modest increase in revenue for the fourth quarter and full year 2024, with Q4 revenue reaching $8.3 million, up from $8.0 million in Q4 2023, and full-year revenue of $22.5 million, slightly higher than $22.4 million in 2023. However, the company's net losses continued to widen.
For the full year 2024, Senseonics reported a net loss of $78.6 million, or $0.12 per share, a significant increase from the net loss of $60.4 million, or $0.11 per share, in 2023. While the company cited a reduction in gains due to the exchange of outstanding convertible notes and changes in the fair value of derivatives as contributing factors, the widening losses appear to have disappointed investors despite the revenue growth.
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