Senseonics (NASDAQ: SENS) raises $80M, targets larger $140M credit line
Rhea-AI Filing Summary
Senseonics Holdings, Inc. entered an underwriting agreement to sell 8,000,000 shares of common stock and 8,000,000 pre-funded warrants at $5.00 per share or $4.999 per warrant, for expected net proceeds of about $74.7 million, or $86.0 million if underwriters fully exercise a 2,400,000-share option.
For the quarter ended March 31, 2026, the company preliminarily expects revenue of approximately $11.7 million, gross profit of about $6.4 million with a gross margin near 54%, and a net loss between $31 million and $33 million, with cash and equivalents around $64.6 million and stockholders’ equity between $33.7 million and $35.7 million.
Through a non-binding term sheet with Hercules Capital, Senseonics proposes to expand its Loan and Security Agreement capacity from $100.0 million to $140.0 million, including $20.0 million of near-term commitments and up to $85.0 million in additional future tranches, which would have resulted in about $55.0 million of total debt outstanding as of December 31, 2025 on an as-adjusted basis.
Positive
- None.
Negative
- None.
Insights
Senseonics pairs an $80M equity raise with a larger debt facility while posting higher preliminary revenue but ongoing losses.
Senseonics has priced an $80 million public offering of 8,000,000 common shares and 8,000,000 pre-funded warrants at $5.00 per share (or $4.999 per warrant), with an underwriters’ option for 2,400,000 additional shares. Net proceeds are expected around $74.745M, or $86.025M if the option is fully exercised.
Preliminary Q1 2026 figures show revenue of about $11.7M, gross profit near $6.4M and gross margin around 54%, alongside a net loss between $31M and $33M. Cash, cash equivalents, short-term investments and restricted cash are about $64.6M, with stockholders’ equity between $33.7M and $35.7M, highlighting that operations remain loss-making but supported by liquidity.
The non-binding term sheet with Hercules Capital outlines a potential expansion of the loan facility from $100.0M to $140.0M, including $20.0M of near-term commitments and up to $85.0M in future tranches. Management indicates that, after funding Tranche 2 and Tranche 3A, total debt would have been about $55.0M as of December 31, 2025. Execution depends on definitive documentation, approvals and milestones, so subsequent filings will clarify final borrowing capacity and draw timing.
8-K Event Classification
Key Figures
Key Terms
pre-funded warrants financial
gross margin financial
Loan and Security Agreement financial
shelf registration statement regulatory
non-binding term sheet financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
| (Exact Name of Registrant as Specified in its Charter) |
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| (Address of Principal Executive Office) (Zip Code) |
Registrant's telephone number, including
area code: (
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01 Entry into a Material Definitive Agreement.
On April 30, 2026, Senseonics Holdings, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with TD Securities (USA) LLC and Barclays Capital Inc., as representatives of the several underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to issue and sell an aggregate of 8,000,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”) and 8,000,000 pre-funded warrants, each representing the right to purchase one share of Common Stock at an exercise price of $0.001 (the “Pre-Funded Warrants”) at a price to the public of $5.00 per share (or $4.999 per Pre-Funded Warrant). Under the terms of the Underwriting Agreement, the Company also granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional 2,400,000 shares of Common Stock.
The net proceeds to the Company from the offering are expected to be approximately $74,745,000, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, or $86,025,000 if the Underwriters exercise in full their option to purchase 2,400,000 additional shares. All of the Shares are being sold by the Company. The closing of the offering is expected to occur on May 4, 2026, subject to the satisfaction of customary closing conditions.
The securities described above are being offered and will be issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-289306) and the related prospectus and prospectus supplement.
The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended (the “Securities Act”), other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by such parties.
The foregoing descriptions of the terms of the Underwriting Agreement do not purport to be complete and are qualified in their entirety by reference to the Underwriting Agreement and form of Pre-Funded Warrant, which are filed as Exhibit 1.1 and Exhibit 4.1, respectively, hereto, and are incorporated herein by reference. A copy of the opinion of Cooley LLP relating to the legality of the issuance and sale of the securities in the offering is filed as Exhibit 5.1 hereto.
Item 2.02 Results of Operations and Financial Condition.
Although the Company has not finalized its full financial results for the quarter ended March 31, 2026, it expects to report the following selected financial information as of and for the quarter ended March 31, 2026:
| · | revenue of approximately $11.7 million; | |
| · | gross profit of approximately $6.4 million; | |
| · | gross margin of approximately 54%; | |
| · | net loss between $31 million and $33 million; | |
| · | cash, cash equivalents, short-term investments and restricted cash of approximately $64.6 million; | |
| · | stockholders’ equity of between $33.7 million and $35.7 million. |
The preliminary financial information presented above are estimates based on information available to management as of the date of this report, have not been reviewed or audited by the Company’s independent registered public accounting firm and are subject to change. We plan to announce our financial results for the quarter ended March 31, 2026 on May 7, 2026. The Company’s actual reported financial results and financial condition as of and for the quarter ended March 31, 2026 may differ materially from the preliminary financial information presented in this report. The preliminary financial information presented in this report should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and reviewed by the Company’s independent registered public accounting firm.
The information set forth in this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not incorporated by reference into any of the Company's filings under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.
Item 7.01 Regulation FD Disclosure.
On April 30, 2026, the Company issued a press release announcing that the Company had commenced the offering and on April 30, 2026, the Company issued a press release announcing that it had priced the offering. Copies of these press releases are attached hereto as Exhibits 99.1 and 99.2 hereto, respectively.
The information furnished with this Item 7.01 of this Current Report on Form 8-K and Exhibits 99.1 and 99.2 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act or the Exchange Act.
Item 8.01 Other Events.
The Company, through its wholly-owned subsidiary, Senseonics, Inc. (the “Borrower”), has entered into a non-binding term sheet with Hercules Capital, Inc. (“Hercules”) setting forth the proposed terms and conditions for an amendment (the “Second Amendment”) to the existing Loan and Security Agreement between the Borrower and Hercules. If consummated on the terms contemplated by the term sheet, the Second Amendment would increase the maximum borrowing capacity under the Company’s facility from $100.0 million to $140.0 million.
In addition to $35.0 million of borrowings currently outstanding under the existing facility, if effected in accordance with the term sheet, the Second Amendment would:
| · | provide for $20.0 million of near-term loan commitments to be available, consisting of (i) a $10.0 million advance under a second tranche ("Tranche 2") to be funded at the closing of the Second Amendment and (ii) a $10.0 million commitment under a third tranche ("Tranche 3A") available at the Company’s option through September 15, 2026, subject to the Company’s satisfaction of a capital raising milestone, which it expects to satisfy through the net proceeds of the offering described in Item 1.01 of this report; and | |
| · | provide for up to an additional $85.0 million future tranches of term loans, subject to the Company’s satisfaction of certain terms and conditions and, with respect to the last $60.0 million uncommitted tranche, future lender investment committee approval. |
After giving effect to the amended facility and the funding of Tranche 2 and Tranche 3A, as of December 31, 2025, the Company’s as adjusted total debt outstanding under the Loan and Security Agreement would have been approximately $55.0 million.
The Company currently anticipates that it will finalize and enter into the Second Amendment in early May 2026. However, the term sheet is non-binding and the Second Amendment of the loan facility is subject to the negotiation and execution of definitive legal documentation, formal approval by Hercules and the satisfaction or waiver of customary closing conditions.
On April 30, 2026, the Company updated its corporate presentation slide deck. A copy of the corporate presentation slide deck is filed as Exhibit 99.3 hereto and incorporated herein by reference.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. These forward-looking statements include statements about the offering, such as the expected net proceeds and anticipated closing date, the anticipated levels of revenue, gross margin, gross profit and net loss for the quarter ended March 31, 2026 and cash, cash equivalents, short-term investments and restricted cash as of March 31, 2026, the proposed amendment of the Loan Agreement, the timing of consummation of the Second Amendment, and the terms and conditions of the Second Amendment, including the anticipated availability of additional loan commitments. These forward-looking statements are based on information currently available to the Company and its current plans or expectations, and are subject to a number of uncertainties and risks that could significantly affect current plans. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including the uncertainties related to market conditions and the completion of the offering on the anticipated terms or at all, uncertainties inherent in the financial close process in connection with the finalization of the Company’s first quarter 2026 financial statements, as well as the review of such financial statements by the Company’s independent registered public accounting firm; the ability of the parties to negotiate and execute definitive documentation for the Second Amendment on the terms described herein or at all; the receipt of required approvals from Hercules; the satisfaction of applicable milestones and conditions to funding. The Company’s forward-looking statements also involve assumptions that, if they prove incorrect, would cause its results to differ materially from those expressed or implied by such forward-looking statements. These and other risks concerning the Company’s business are described in additional detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (“SEC”) on March 2, 2026, and other filings the Company makes with the SEC from time to time. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Description | |
| 1.1 | Underwriting Agreement, dated April 30, 2026, by and among Senseonics Holdings, Inc., TD Securities (USA) LLC and Barclays Capital Inc. | |
| 4.1 | Form of Pre-Funded Warrant | |
| 5.1 | Opinion of Cooley LLP. | |
| 23.1 | Consent of Cooley LLP (included in Exhibit 5.1). | |
| 99.1 | Press Release, dated April 30, 2026. | |
| 99.2 | Press Release, dated April 30, 2026. | |
| 99.3 | Corporate Presentation (April 2026). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 1, 2026 | SENSEONICS HOLDINGS, INC. | |
| By: | /s/ Rick Sullivan | |
| Name: | Rick Sullivan | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
Senseonics Announces Commencement of $80 Million Public Offering of Common Stock and Pre-Funded Warrants
GERMANTOWN, MD – (GLOBE NEWSWIRE) – April 30, 2026 – Senseonics Holdings, Inc. (NASDAQ: SENS), a medical technology company focused on the development, manufacturing and commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock and, to certain investors, pre-funded warrants to purchase its common stock in lieu thereof. In connection with the proposed offering, Senseonics also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the total number of shares offered in the public offering. All of the securities to be sold in the proposed offering will be offered by Senseonics. The pre-funded warrants will not be listed on any securities exchange.
TD Cowen and Barclays are acting as joint book-running managers and Mizuho and Lake Street are acting as bookrunners for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
The proposed offering is being made pursuant to a “shelf” registration statement on Form S-3, including a base prospectus (File No. 333-289306) that was originally filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2025 and became effective on August 18, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained, when available, by contacting TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at TDManualrequest@broadridge.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com.
Senseonics intends to use the net proceeds from the public offering to fund the ongoing launch of Eversense 365 and continued development of pipeline products, as well as for working capital and general corporate purposes.
Before investing in the offering, you should read the preliminary prospectus supplement and related prospectus for the offering, including the documents incorporated by reference therein, that Senseonics has filed with the SEC. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development, manufacturing and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements regarding, among other things, the size of the proposed offering; Senseonics’ expectations about the completion and timing of the proposed offering and anticipated use of proceeds from the proposed offering; and Senseonics’ expectations with respect to granting the underwriters a 30-day option to purchase additional shares. The words “expects,” “potential,” “proposed,” “may,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including risks relating to Senseonics’ inability, or the inability of underwriters, to satisfy the conditions to closing for the proposed offering; uncertainties relating to the current economic environment, market and other conditions; and other risks and uncertainties that are described in the Risk Factors section of Senseonics’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, and other filings Senseonics makes with the SEC from time to time. The events and circumstances discussed in such forward-looking statements may not occur, and Senseonics’ actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements contained in this press release speak only as of the date hereof, and Senseonics expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.
INVESTOR CONTACT:
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com
Exhibit 99.2
Senseonics Announces Pricing of $80 Million Public Offering of Common Stock and Pre-Funded Warrants
GERMANTOWN, MD – (GLOBE NEWSWIRE) – April 30, 2026 – Senseonics Holdings, Inc. (NASDAQ: SENS), a medical technology company focused on the development, manufacturing and commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced the pricing of an underwritten public offering of 8,000,000 shares of common stock at a price to the public of $5.00 per share, and in lieu of common stock, to certain investors, pre-funded warrants to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per pre-funded warrant share, which equals the public offering price per share of the common stock less the $0.001 exercise price per share of each pre-funded warrant. The gross proceeds to Senseonics from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $80 million. In addition, Senseonics granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on May 4, 2026, subject to satisfaction of customary closing conditions. The pre-funded warrants will not be listed on any securities exchange.
TD Cowen and Barclays are acting as joint book-running managers and Mizuho and Lake Street are acting as bookrunners for the proposed offering.
The proposed offering is being made pursuant to a “shelf” registration statement on Form S-3, including a base prospectus (File No. 333-289306) that was originally filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2025 and became effective on August 18, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, by contacting TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at TDManualrequest@broadridge.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com.
Senseonics intends to use the net proceeds from the public offering to fund the ongoing launch of Eversense 365 and continued development of pipeline products, as well as for working capital and general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development, manufacturing and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements regarding, among other things, Senseonics’ expectations about the closing date of the offering and the anticipated use of proceeds from the offering. The words “expects,” “potential,” “may,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including risks relating to Senseonics’ inability, or the inability of underwriters, to satisfy the conditions to closing for the offering; uncertainties relating to the current economic environment, market and other conditions; and other risks and uncertainties that are described in the Risk Factors section of Senseonics’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, and other filings Senseonics makes with the SEC from time to time. The events and circumstances discussed in such forward-looking statements may not occur, and Senseonics’ actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements contained in this press release speak only as of the date hereof, and Senseonics expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.
INVESTOR CONTACT:
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com
Exhibit 99.3
April 2026
T h i s p r e s e n t a t i o n ha s b e e n pr e p a r e d by Se n s e o n i c s H o l d i n g s , I n c . ( t h e “ C o m p a n y , ” “ Se n s e o n i c s , ” “ w e , ” “ u s ” ) a n d i s m a de for i n fo r m a t i o n a l p u rp o s e s o n l y . T h e i n fo r m a t i o n s e t fo r t h h e r e i n do e s n o t p u rp o rt to be c o m p l e t e o r t o c o n t a i n a l l o f t h e i n fo r m a t i o n y o u m a y d e si r e . A n y stat e m e n t s in t h i s p r e s e n t a t i o n a bo u t f u t u re e x p e c t a t i o n s, p l a n s a n d pr o s p e c t s f o r Se n s e o n i c s a n d i t s b u si n e s s , i n c l u d i n g stat e m e n t s r e g a rd i n g pr e l imi n a ry f i n a n c i a l r e s u l t s, stat e m e n t s r e g a rd i n g t h e e x p e c t e d a m e n d m e n t o f the C o m p a n y ’s e x i st in g c r e d i t f ac i l i t y w i t h H e rc u l e s, e x p e c t a t i o n s f o r f u t u re f i n a n c i a l o r o t h e r p e rf o r m a n c e i n c l u d i n g pr o j ec t e d r e v e nu e , gr o ss m a rg i n , e a r n i n gs a n d E BITDA gr o w t h , stat e m e n t s r e g a rd i n g p l a n s, o bj e c t i v e s a n d goa l s for f u t u re o p e rat i o n s, stat e m e n t s a bo u t the f u t u re gr o w t h o f E v e rs e n s e ® pr o d u c t s, st a t e m e n t s r e g a rd i n g p l a nn e d i n i t i a t i v e s, i n v e st m e n t s o r m a r k e t i n g o r o t h e r pr o gr a m s of Se n s e o n i c s , stat e m e n t s r e g a rd i n g pr o gr e ss a n d t imi n g o f c o ll a bo r a t i o n a n d r a t e o f a dop t i o n o r gr o w t h w i t h r e s p e c t t o E v e rs e n s e , o r i t s p a t i e n t s a n d pr o v i d e rs, o r t h e po t e n t i a l to e n ha n c e p a t i e n t o u t c o m e s, stat e m e n t s r e g a rd i n g i n c r ea si n g p a t i e n t a c c e ss, ad o p t i o n a n d m ar k e t s h ar e , a n d t he f u t u re gr o wth o f t he CGM m ar k e t , sta t e m e n t s reg a rd i n g adv a n c i n g d e v e lop m e n t pr o gr a m s a n d p o t e n t i al reg u l a t o ry e v e n t s, appr o va l s a n d av a i l a b i l i t y a n d t he at t r i b u t e s o f f u t u re pr o d u c t s, i n c l u d i n g l a un c h t imi n g o f G e mi n i a n d Fr ee do m , f e a t u r e s a n d i n t e gr a t i o n s, a n d o t h e r stat e m e n t s c o n t a i n i n g t h e w o rds “ b e l i e v e , ” “ e x p e c t , ” “ i n t e n d , ” “ m a y , ” “ pr o j ec t s , ” “ w i ll , ” “ p l a nn e d” a n d s imi l a r e x pr e s s i o n s c o n st i t u t e fo r wa r d - l ook i n g stat e m e n t s w i t h i n t h e m e a n i n g o f T h e P r i v a t e Se c u r i t i e s L i t i g a t i o n R e fo r m A c t o f 1 99 5 . T h e se fo r wa r d - l ook i n g stat e m e n t s a re b a s e d o n m a n a g e m e n t ’s c u r r e n t e x p e c t a t i o n s a n d p r o j ec t i o n s a bo u t f u t u re e v e n t s, a n d s u c h st a t e m e n t s a r e , by t h e i r n a t u re s u bj e c t t o r i sk a n d un c e r t a i n t i e s. A c t u a l r e s u l t s may d i f f e r m a t e r i a ll y fr o m t h o se i n d i c a t e d b y s u c h fo r wa r d - l ook i n g stat e m e n t s a s a r e s u l t o f va r i o u s i mp o r t a n t f ac t o rs, i n c l u d i n g un c e r t a i n t i e s i n h e r e n t i n : the f i n a l i z a t i o n o f the C o m p a n y ’s f i n a n c i a l st a t e m e n t s for the q u a r t e r e n d e d M a rch 31, 2026 a n d the r e v i e w o f s u c h f i n a n c i a l st a t e m e n t s by t h e C o m p a n y ’s i n d e p e n d e n t r e g i st e r e d p u b l i c a cc o un t i n g f i r m ; the f i n a l i z a t i o n a n d e x e c u t i o n o f d e f i n i t i ve a gr ee m e n t s for the a m e n d m e n t o f the H e rc u l e s l o a n f a c i l i t y ; t h e s a t i s fa c t i o n o f c o n d i t i o n s fo r , c l o si n g o f tra n s a c t i o n s r e l a t e d t o , a n d a s s u m pt i o n o f E u r o p e a n c o mm e rcial r e s p o n sib i l i t y for E v e rs e n se fr o m A s c e n sia a n d t h e c o n t i nu e d t ra n si t i o n o f c o mm e rcial r e s p o n sib i l i t y a n d b u i l do u t o f t h o se f u n c t i o n s a t Se n s e o n i c s ; i n s u r e r, r e g u l a t o r y , t e n d e r a u t h o r i t y , a n d a d m i n i strat i ve pr o c e s s e s a n d d e c i si o n s; t h e d e v e l o p m e n t a n d r e g i strat i o n a n d r o l l - o u t o f n e w t e c h n o l o gy a n d sol u t i o n s; c oo rd i n a t i o n w i t h h e a l t h s y st e m s, h e a l t h a u t h o r i t i e s, a n d n e w c o ll a bo r a t i o n p a r t n e rs a n d th i rd p a r t i e s ; t h e o n go i n g c o m m e rcia l i z a t i o n o f the E v e rs e n se pr o d u c t a n d t h e e x p a n si o n o f the E v e rs e n se pr o d u c t a n d Se n s e o n i c s ’ a n d it s pa r t n e rs’ a c t i v i t i e s; t h e c u r r e n t e c o n o mi c a n d r e g u l a t o r y /p o l i t i c a l e n v i r on m e n t , i n c l u d i n g t h e e f f e c t s o f tar i f f s; a n d s u c h o t h e r f ac t o rs a s a re s e t fo r t h i n t h e “ R i sk F a c t o rs” d e t a i l e d i n Se n s e o n i c s ’ A nnu a l R e po r t o n Fo r m 1 0 - K for the y e a r e n d e d De c e m b e r 31, 2025, a s f i l e d w i t h the S E C, a n d Se n s e o n i c s ’ o t h e r f i l i n gs w i t h the S E C un d e r t h e h e a d i n g “ R i sk F a c t o rs . ” In a d d i t i o n , the fo r wa r d - l ook i n g stat e m e n t s i n c l u d e d i n t h i s p r e s e n t a t i o n r e pr e s e n t Se n s e o n i c s ’ v i e w s a s o f the d a t e h e r e o f a n d t h e d e l i v e ry o f t h i s p r e s e n t a t i o n a t a n y t im e s h a l l n o t un d e r a n y c i rc u m sta n c e s c r ea t e a n i m p l i c a t i o n t ha t t h e i n fo r m a t i o n c o n t a i n e d h e r e i n i s c o r r e c t a s of a n y t im e a ft e r s u c h d a t e . Se n s e o n i c s a n t i c i p a t e s t h a t s u b s e q u e n t e v e n t s a n d d e v e l o p m e n t s w i l l c a u se Se n s e o n i c s ’ v i e w s t o c ha n g e . H o w e v e r, w h i l e Se n s e o n i c s m a y e l e c t t o u p d a t e t h e se fo r wa r d - l ook i n g stat e m e n t s a t so m e po i n t i n t h e f u t u r e , S e n s e o n i c s sp e c i f i c a l ly d i s c l a i m s a n y o bl i gat i o n t o do so e x c e pt as req ui red by l a w. T h i s pre se n t at i o n a l so pres e n t s m a n ag e m e n t ’s g o a l s a n d v i s io n f o r S e n s e o n i c s d e v e lop m e n t pr o gra m s, i n c l u d i n g w it h o u t l i m i t at i o n t he G e m i n i a n d Fr ee dom d e v e l o p m e n t pr o gr a m s. T h e se pr o d u c t s a re n o t a p p r o v e d by t h e FDA a n d the Fr ee dom pr o d u c t i s n o t s u bj e c t t o a n IDE o r o t h e r i n v e st i g a t i o n a l a p p r o v a l . P l a n s, t imi n g, s p e c i f i c a t i o n s a n d o t h e r d e t a i l s o f th e se pr o gr a m s a re subject to change based on the factors above. The forward - looking statements in this presentation should not be relied upon as representing Senseonics ’ views as of any date subsequent to the date hereof. This presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful. You agree to keep any information provided herein confidential and not to disclose any of the information to any other parties without prior express written permission of the Company. Neither the information contained in this presentation, nor any further information made available by the Company or any of its affiliates or employees, directors, representatives, officers, agents or advisers in connection with the presentation will form the basis of, or be construed as, a contract or any other legal obligation. Th e E v e rs e n s e ® C o n t i n u o u s G l u c o se M o n i t o r i n g (C G M ) S y st e m s a re i n d i c a t e d for c o n t i n u a ll y m e a s u r i n g g l u c o se l e v e l s for u p t o 3 6 5 d a y s for E v e r s e n s e ® 3 6 5 a n d 180 d a y s for E v e rs e n s e ® E 3 i n p e rs o n s w i t h d i a b e t e s a g e 1 8 a n d o l d e r. Th e s y st e m s a re i n d i c a t e d for u se t o r e p l a c e f i n g e rst i c k b l oo d g l u c o se (B G ) m ea s u r e m e n t s f o r d i a b e t e s t r e a t m e n t d e c i si o n s . F i n g e rst i c k BG m e a s u r e m e n t s a re st i l l r e q u i r e d for c a l i br a t i o n pr im a r i l y o n e t i m e p e r w ee k a f t e r d a y 1 4 for E v e rs e n s e ® 3 6 5 a n d o n e t i me p e r d a y a ft e r d a y 21 for E v e rs e n s e ® E 3 , a n d w h e n s y m pt o m s d o n o t m a t c h C G M i n fo r m a t i o n o r wh e n t a k i n g m e d i c a t i o n s o f t h e t e t ra c y c l i n e c l a s s . T h e s e n sor i n s e r t i o n a n d r e m o v a l pr o c e d u r e s a re p e rf o r m e d b y a h e a l t h c a re pr o v i d e r. Th e E v e rs e n se C G M S y st e m s a re pr e s c r i p t i o n d e v i c es ; p a t i e n t s s h o u l d t a l k t o t h e i r h e a l t h c a re pr o v i d e r t o l e a rn m o r e . For im p o r t a n t s a f e t y i n fo rm a t i o n , s ee h tt p s : //w w w . e v e rs e n s e d i a b e t e s .c o m /s a f e t y - i n fo / .
D i s r u p tive Po te ntial Add res s i n g key p a t ient p ai n p o i n t s i n a l a rg e , g r o wi n g an d u nd e r p e n e tra te d C G M m ar ket *Me d t ec h Ma r k et I n t ellige n ce R e p or t : C GM Ma r k et – Ma s s De v i c e ( O ct o b e r 2 0 2 5 ) . Fo c us e d St r a t e gy Exe c u ti n g a c l e a r gro w th s trat e gy f o cu s ed o n awarene ss , a c c e ss , s c a l e an d r et e n ti o n C ommerc i a l Momentum I n it i a t ives an d i n v e s tm e n t s ar e d e liv e r i n g res u lts, v a li d a t i n g o u r s tra te g y an d am b it i on C l e a r R oadmap B u il d i n g a s u s t a i n abl e f i n ancia l p r o f i l e an d s h a p i n g th e f u tu r e o f d ia b e t es Fully In t e g r a t e d C apab i liti es Unlocki n g o p e ratio n a l e ff i ci e n ci e s , commercia l p otent i a l an d f i n ancia l b e n e f i t s ✓ $ 1 3.5 b n g l o b a l C G M mark e t s iz e i n 2 0 25* ✓ # 1 lo n g e vit y an d #1 s u rviv a b il i ty ✓ A n e w l e v e l o f co n trol an d a g il i ty ✓ T o p li n e ac c re t i o n an d mar g i n expan s i on ✓ 2 0 2 6 – an i m p o r t a n t y e ar f o r e x e cuti on ✓ B a l anc e s h e e t s upp o r t s i n v e s tm e nt ✓ 1 03 % n e w p a t ient g r o wth i n th e U . S. i n 2 0 25 ov e r 2 0 24 ✓ 8 6 % i n cre a s e i n P r escr i b er s i n 2 0 25 o v e r 2 0 24 ✓ G o a l to b re a k e v e n an d p r o f i t a b il i ty ✓ Ro b u s t p i p e li n e : Gem i n i an d F re e d om
Pre li mi n ar y Q1 20 2 6 F i n a n cia l I n f o r m a t i on* R e v e n u e $ 1 1 . 7M G r o ss P r o f i t $6 . 4M G r o ss M a r gi n 54% N et Lo ss ($ 3 1M – $3 3 M) C as h (as o f 3 / 31 / 26) $64. 6M H E RCUL ES L O A N A M E ND M E NT ** • I mm ediatel y A v ailable t o D ra w : $20 M 1 • P F D eb t Ou t st an d in g : $55 M • Addi t ional T ran c he s A v ailable: U p t o $85M • T otal C o m m i t m ent : U p t o $1 4 0M REG A INED EVERSENSE CO M M ERCI A L CONTROL (Jan. 2026) • Full control of resourcing and strategic direction w ith no re v enue share • U.S. transition complete; EU e x pected in Q2*** EXECUTING P A RTNERSHIP WITH SEQUEL (Apr. 2025) • Enables rea l - time readings from E v ersense® to be recei v ed b y the t w iist T M pump A BBOTT INVEST M ENT ( M a y 2025 ) • In v ested ~$20 M to o w n ~4.99% of SENS common shares in M a y 2025 pri v ate placement • Pro v ides strategic v alidation w ith progress to w ard pipeline products INI T I A TE D EU CO M M ER C I A L L A UN C H OF E V ER S EN S E 3 65 (A p r. 20 2 6) • A v ailable to initial patients in S w eden, w ith launches e x pected in German y , Spain and Ital y during the coming w eeks as part of a phased roll out 1 . $ 1 0 M i s s u bjec t t o r a i s i n g $ 5 0 M of a ddi t i o n a l c a s h p ro ceed s . * T h e s e nu m be r s a r e p r eli m i n a r y e s t i ma t e s , based o n i n form a t i o n c u rr e n t ly a v a il a bl e t o m a n a ge m e n t , h a v e n o t be e n r e v iewed by o u r i n dep e n den t r eg is t e r ed p u bl i c a cc o un t i n g f i rm a n d m a y v a r y from o u r a c t u a l r ep o r t ed f i n a n ci a l s t a t e m e n t s a s of a n d for t h e q u a r t e r e n ded M a r c h 3 1 , 2 0 2 6 . ** S u bjec t t o f i n a li z a t i o n a n d execu t i o n of de f i n i t i v e a m e n d m e n t t o H e r c u le s l o a n f a cili t y , exp e c t ed i n M a y 2 0 2 6 . *** E U t r a n s i t i o n s u bjec t t o cl o s i n g of A s ce n s i a E u ro pea n t r a n s a c t i o n s . T h e p r eli m i n a r y f i n a n ci a l i n form a t i o n p r e s e n t ed h e r ein s h o u ld n o t be v iewed a s a s u b s t i t u t e for f u ll f i n a n ci a l s t a t e m e n t s p r epa r ed i n a cc or d an ce w i t h G A A P a n d r e v iewed by t h e C o m p any ’ s i n dep e n den t r eg is t e r ed p u bl i c a cc o un t i n g f i rm.
Lar ge and g r ow i ng mark e t cu r r e ntly dom i nated by s i m i l a r pr o duc t s w it h s i g n i ficant draw b ac ks Th e mar k e t r emains s i g nif i can t ly underpen e t r a t ed S i g n i ficant unt a pp e d o p p or t unity t o e x pa n d mar k e t shar e an d dri v e r e v enue g r o w th S e ns e oni c s is p ione e ring a c o mp l e t ely new pr o duc t ca t e g o r y i n lon g - t e rm an d ful l y - i m pl a ntable C G Ms Co m m o n CGM F r ustratio ns Se n s or l i fe t i me Early fa i l u res A c cu r acy i s sues Wasted senso rs Sk i n irritation C o mpress i on lo ws Al a rm fatigue * M ed t ec h M a r k e t I n t el l ig e n ce R ep o r t : CG M M a r k e t – M a ss D e v ice ( Oc t o be r 2 0 2 5 ) ** M a r k e t s i z i n g s o u r ces o n t h i s s lid e a r e de r i v ed from s o u r ce s o n f ile a t S e n s e o n ic s 2 0 25 global C G M m ar ke t* o f e l igi b l e US p a t ient s u tiliz e C G M** A b b o t t De x com M e d t r on ic Sen s eon i cs 2 024 C G M R e v e n u es G l o b al CGM M a r k e t S i ze $5.5 $ 7 . 1 $ 8 . 1 $9.8 $ 1 1 .6 $ 1 3.5 0 5 10 15 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5E R e v en u e in B il l i o ns ( $) ~ 2 0 % C A GR
T h e w o r ld’s first and on l y On e Ye a r CGM sy s tem. P r o d u ct cla i m s o n t h i s s li d e are d e r i v e d f ro m s o u r ce s o n f ile at S e ns e o n i c s a n d u s e r m a n u al s o f com p eti t or p ro d u cts Long e st Lasting C GM Indust r y - Le a ding Surviva b ility Ex c eptional A c curacy No Mo r e W a st e d Senso rs Minimal S k in Irritation n e w p a t i e nt gr o w t h in 202 5 in the U . S . over t h e pr io r y e ar Emp o wering patie n ts wi t h m o r e au t on o my , fl e xi b ility, an d conv e ni e n ce Ena b lin g H CPs to ma k e t r ea t m e n t d e ci s ions wi t h g r e a t e r cl i ni c al confiden ce G a ini n g m o m entum… Reduced compr e s s ion lows …b y d e liverin g v a lue
* S o u r ce s o n f ile at S e ns e o n i c s. PAT I ENTS P R O VIDE RS E m p owerin g Pa t ien t s to L i ve a L i fe U nint e r r u p t e d Enabling C onf id e nt C lini c a l Dec i sions L on g e st L ast i n g C GM T h e only C G M that l a s ts f o r a y e a r , w h i l e t r aditiona l 1 0 – 15 - da y CG M s o f t e n fa i l e a rl y* N o M ore Wast e d C G M s Re m o v abl e s m a r t t r a n s m itt e r c a n be tak e n o f f w h e n n ee ded . If th e t r a n s m itt e r g e ts kno c k e d o f f, s i m pl y p u t it bac k on w it h out w a s tin g a CGM A l erts Y o u C an trust Ex ce p t i o n a l a cc u r a c y f o r on e y e a r , w it h a lm o s t n o fa l s e a l e r ts f r o m s l ee pi n g on y our CG M at n ig h t* M a xi m u m C om f ort O u r g e n tl e , s i l i c on e - bas e d adh e s i v e s a r e c h a n g e d dai l y a n d caus e al m ost n o s k in r e actions On e C G M . On e Year of M i n i ma l D i srupt i ons T h e l on g e s t l a s tin g a n d m o s t dep e n da b l e CGM E xcep t i ona l Accura c y O ve r O n e Y e ar T h e m o s t a cc u r at e CG M in t he h y po g l y c e m i c r a n ge a n d e ss e n tia l l y n o c o m pr e ss i o n l o w s* D e s i g n e d f or I mproved Qua l i ty o f L i fe N o m o r e f re q u e n t CG M c h a n g es a n d w a s t e d s e n s o rs R e duc e d ca l i brat i on comparabl e to c ompe t i tive pr o duc t s w i tches bu t b e t t e r s i n c e n o s e n so r r e s et
E v e r se n se Be n e fit Se n s o r L ifeti m e 15 days 15 days 365 d ays O n e y e ar o f m i n i m a l d is r u pt i o n s 1 - 3 Se n s o r S u r v ivabi l it y Rate 73 .9% 83 .1 % A d u lts 76 .8 % P eds 90 % M o st depen d a b le C G M 1 - 3 C om p ress i o n L o ws Ye s Ye s Virt u al l y n o ne E s s en t i a l l y n o c o m pr e ss i o n l o w s 4 wh i le s leep i ng Acc u racy i n Lo w Gl u c o se Ra ng es < 5 4 m g / d L ( M AD i n m g / d L ) 12 .5 15 .5 7 .7 M ost a c c u r a t e i n l o w g l u c o s e r a n g es 1 - 3 CGM C h a ng es P er Y e ar 3 6 2 4 1 L o n g es t l a st i ng C G M 1 - 3 L o w Gl u c o se E v ents D e t ec t ed (at 60 m g / d L) L o w g l u c o se e v ents d e t ec t ed (fr om 76 %) 76 % 91% The mo st depen d a b le pr e d i c t ive a l e r t s 1 – 2 O n - b o d y V i b rati o n A l erts P a t ie n t d is cret i o n & a l e r ts when p h o ne i s o ut o f r each Re m o v a b l e * S m art Tra n s m itt e r N o m o r e w a s t ed C G Ms A d h esi v e Ac r y l i c Based Ac r y l i c Based S i l i c o n e Based Ma x i m u m c o mf o r t w i t h a lmo st n o s k i n r eac t i o ns 15 D A Y 2 3 1 * t h e re i s n o d a t a g e n e r a t e d wh e n t h e t r a n s m i tt er i s re m o v e d. 1. S e n seo n i c s . ( 2026) E v er s e n se 365 C o n t i n uo u s G l u c o s e M o n i t ori n g S y s t e m U s er G u i d e . L B L - 7702 - 01 - 0 01 2. F D A 510 K D eci s i o n S u m m a r y – D e x co m G 7 15 D ay 3. F D A 510 K D eci s i o n S u m m a r y – A b bo tt L i b r e 3 p l us 4. C h r i s t i a n s e n M P e t a l . A P ro s pec t i v e M u l t ice n t er E v a l u a t io n of t h e A c c u r a cy o f a N o v el I m p l a n t e d C o n t i n uo u s G l u c o s e S e n sor : P R E C I SE I I . D I A B E T E S T E CH N O L O G Y & T H E R A PE U T I C S 2018; 20 ( 3 ) :1 9 7 - 2 06
Insig h ts from patient s and pr a c t it i on e r s showcas e p r oduct di f fer e ntiation and r e a l - li f e b e nefits. sw i tc h fro m L i bre (Ab b ott) s w i t c h f r om De x com sw i tc h fro m Medt r on ic a r e ne w t o C GM New E v e r sense U s e rs
Captu r ing New Use r s and Swit c h i ng Other CG M Use rs Tar g e t patient profiles Di s s ati s f i ed w i th C u r r ent C GM N e w to C GM T y p e 1 an d T y p e 2 To p pr e f e rre d f e atur e s of e x isting use rs A c c u ra cy Sen s o r Li fe Im p l a n t a b l e C o n v e n ienc ed N e w U s e r s by D i a bet e s T y pe 9/10 of our US pati e nt s s w i t c h e d f r om oth e r CGM s o l uti o ns 24% T y pe 1 7 6 % T y pe 2 ~ 1 0% N e w C G M User ~90% S w i t c hed t o E v e rse n se 5 0 % D exc o m 3 8 % Li b r e 2% Me d t r o nic
Focus on g e ne r ating h i g h - quality le a ds, in c r e asing r e ac h ability, ef f i c ient conver s ion D T C= W e b / S oc ia l T r aff ic H C P = T a r g e t A cc ou n ts D T C= W e b / S oc ia l T r aff ic H C P = T a r g e t A cc ou n ts L e ads Su b m itt ed *Di r e ct le a d e n tr y & d i r e ct HC P r e f e rr al L e ads Su b m itt ed *Di r e ct le a d e n tr y & d i r e ct HC P r e f e rr al W o r k a bl e L e ads * L e ad f i l t er in g : e l igibi l it y & c o v e r age W o r k a bl e L e ads * L e ad f i l t er in g : e l igibi l it y & c o v e r age Re a c h ed * C ontact v ia SMS, e m ai l , l i ve Re a c h ed * C ontact v ia SMS, e m ai l , l i ve C o n v e r t to O p p o r t u n ity * P ip el in e nu r t u r ing C o n v e r t to O p p o r t u n ity * P ip el in e nu r t u r ing Co n ve r t to S h ipm e n ts Co n ve r t to S h ipm e n ts H e alth Ca r e Pr o fes s ional ( H CP ) Channe l ( ~4 5 % o f S hi p ment s) C o re Rol e: • St r at e gi c e xpansi o n & l on g - t erm pos i tioning Str u c t u ra l R e a l ity • U n de r pen e t r at e d pr e s cr i be r base • Re f e r r al d r i v e n , m or e du r a b le d e mand • De pen d e n t on o f f i c e a c ti v ati o n & s u p p o rt Pri m ary Le v e rs • Expa n d ta r g e t e d H C P c o v e r age • Inc r e a s e o f f i c e a c ti v ati o n & r e f e r r a ls • E n h a n c e f i e l d & c l ini c a l s u p p o rt • G r o w E O N ins e r te r n e two rk Im p lic a ti on • H C P gr ow th e xpan d s pr o f e ss i o n a l a w a r e n e ss a n d gr ow th. DTC Channe l ( ~55 % o f Sh i p me n t s) C o re Rol e: • B r oad e n a w a r e n e ss o f E v e r s e n se Str u c t u ra l R e a l ity • H ig h in b ou n d de m a n d e x i s ts • Chan n e l dr i ve n b y D T C in v e s tm e nt • G r o w th m od er at e d b y m i d - fu n n e l c on v e r s i on Pri m ary Le v e rs • A cc e l e r at e s pe e d - t o - l e ad and r e a c h ab i l ity • Inc r e a s e w o r k a bl e - t o - o ppo r tunit y c o n v e r s i on • A dvanc e A I - e n abl e d nu r t u r in g a n d out b ou nd • I m pr o ve s c h e d u l in g a n d re i m b u r s e m e n t f r i c tion Im p lic a ti on • S m a ll i m pr o ve m e n ts in m i d - fu n n e l c on v e r s i o n dr i ve sh ipm e n t l i f t.
Our comme r c i al s tr a teg y deliv e r e d r e sult s in 2025; a s o lid foundation to ac c el e r a te g r owth. Cov e r e d No n - c o v e red c o v e r e d l i v es 2 0 2 4 2 0 25 New P atient Growth H C P D TC 2 0 2 4 2 0 25 Inse r te r Growth E x t e rnal Eo n C are 2024 2025 Presc r iber Grow th E x i s t ing N e w in 20 25 Co v e r ed L i ves n e w pr e s cr ib e rs
A c cess for ov e r 3 0 0 million lives In J anu a ry 2026, CMS upd a t e d t h e physici a n fe e sc h edule t o i n clude a 9% - 14% price i n c r ease for E v e r sense C P T c o des. Br o ad C o mm ercial a n d Me d icare co v er a ge f o r bo t h P ro d u ct a n d Proce d u re hc s c - lo go
T erri t or y M anagers As s ocia t e T erritor y M an a ge rs R egional C lini c al M anagers Area M anagers
We expe c t t o more th a n do u b l e the nu mb e r of Eo n prov i ders i n 2026 Le an in g i n to EO N f o r g r o wth F u t u re Gro w th A cc e l era t ors • E O N e x pans i on o f 5 0 + n ew pro vi d e rs o v er n e x t 12 m o n ths • Recruitm e n t p a rt n er c o n tr a c ted – acc e lerat i on w ell un der w ay S C A L E : E ON i s <1 0 % of a l l i n ser t e r s but now h andl e s ~ 2 5% of ins e r t ions A purpo s e - built sub s idiary deliv e ring m o bile ins e rtion s to improv e patient ac c e s s nationwide R e i m bu r s abl e a n d s e l f - f u nd i ng B o o s t s f i e l d - s a l es e ff i ci e n cy Ext e nd s re a c h to un t a pp e d p a t ients E n abl e s p rescr ib e r - o n ly p hy s ic i an s* Centra l iz e d s c h e du li n g & p a t ient trai n i ng * S o m e H C P s p r e f e r t o p r e s cri b e o n ly . E O N C are e n a b le s all t y p e s o f pro v i d e r s t o o f f e r E v e r s e ns e a c ce s s t o t h e i r p atie n t s . E o n g o al s s u b j ect t o co n t i n u e d e x p a n s io n.
W e a r e fo c us e d on e xecu t ing ou r st r ate g y to unlock the pot e ntial of Eve r s e ns e 36 5. Expan d an d o p ti m iz e i n s e rt e r n etwo r k ( i n c . E O N Care s trat e gy) Fu r t h e r e x pand c o v e r a ge E n h a n c e P a tient affo rd ab i lity Evol ve o n b oar d i n g p r o c e ss E n h a n c e u s e r e xperience Provi d e p r o a c tiv e s upp o r t, w i th f o cu s o n r e n e w a ls DTC mark e ti ng H CP mark e ti ng O p ti m iz e t a rg e ti n g an d p r o du c t p o s it i o n i ng Expan d commercia l t e am an d c a p a c i ty R e f o cu s ap p r o a c h to th e E u r o p e an mark et A ID* mark e t e n try Su p po r t e d b y imp r ov e d op e r a t ional cont r o l an d finan c i a l fi r e p ow e r – up to $ 1 0 0 m de b t f a cility** E ncour a ge d by r e c ent comme r ci a l mo m entum an d focuse d str a t e gy * A u t o m a t e d in s u l in d e l iv e r y s y s t e m s . * *P e n d in g a m e n d m e n t t o H e rc u l e s l oa n f a c ili ty t h a t w o u l d in cr e a s e t o t a l bo rr o wing c a p a c i t y t o u p t o $ 1 4 0 m il l i o n .
N o t e : Ge m i n i a n d F r eed o m ro w s r ep r e s e n t t a r ge t m ile s t o n e s. P ro g ra m s i n de v el o p m e n t ( Ge m i n i a n d F r eed o m ) . P ro d u c t a tt r ibu t e s , s peci f ic a t i o n s , a n d de v el o p m e n t t i m elines s u bjec t t o r i sk s an d un ce r t a i n t ie s . F or m o r e i n for m a t i o n , s ee " R i sk F a c t or s " i n o u r A nnu a l R ep o r t o n F or m 1 0 - K for t h e y e a r e n ded D ece m be r 3 1 , 2 0 2 5 a n d o u r s u b s eq u e n t f ilings w i t h t h e S E C . . B G M Conne c tivit y Di r e c t co m m u n i c a ti o n w i th B lueto o th ena b l e d b lo o d g l u co s e meters F urt h e r Pump I nte g r a tio n Sen s o r au g ment s p u m p , p l a nn i n g ad d it i o n a l pu m p p artnersh i p s P u mp A I D C G M co n trol s p u mp 2 026 2 027 2 028 E v e r s e ns e ® 365 W o r l d’s f i rst on e - y ea r s en s or G e m i ni On e - y e a r s e n s or w it h ba tt e r y for c onti n u o u s a n d option a l point - i n - time r e a ding Fr ee d om N o tr a n s m itt e r in c l u d e d in t h e S y s t e m . D ir e c t c o m mu n i c a ti o n betw e en s e n sor an d ha n dhe ld C o mm erci a l L a un ch C o mm erci a l L a un ch E U Laun ch & F irst A I D I n t eg r a t i on T w iist P u m p L a un c h C l ini c a l & Re g u l a t o r y Mi l est o nes C l ini c a l T r ia l S t ar t A n d F D A S u b m is s i on C l ini c a l & Re g u l a t o r y Mi l est o nes C l ini c a l T r ia l S t ar t A n d F D A S u b m is s i on Planned Co n nectivi t y Upda t es
Autonomou s Senso r Testing with Data Pr o cessing Cap a c i ty En a bling 2 P r oducts from 1 Platform Techn o logy E nhanc e d 36 5 sensor w it h i n t e g ra t ed bat t e r y; upd a t e d a l g o r it hm Us e Cases Ful l year use w it h 1 sensor an d 1 ca l /week T w o un i que p r o duc t s: C GM w i t h t r an s m i t t er S t a n da l on e t h e r a p e utic FGM * w it h out t r an s m i t t er Target In t ensi v ely mana g ed patien t s wh o want be t t e r c o n tr ol + All i n su l i n - us i ng patients + No n - i n su l i n p atients *F G M : F l a s h Gl u c o s e M o n i t or i n g . P ro g ra m i n de v el o p m e n t . P ro d u c t a tt r ibu t e s , s peci f ic a t i o n s , a n d de v el o p m e n t t i m elines s u bjec t t o r i sk s a n d un ce r t a i n t ie s . F o r m or e i n form a t i o n , s ee " R i sk F a c t or s " i n o u r A nnu a l R ep o r t o n F orm 1 0 - K for t h e y e a r e n ded D ecembe r 3 1 , 2 0 25 a n d o u r s u b s eq u e n t f ilings w i t h t h e S EC
Elimination Of Transmitte r By In c o r po r ating Blueto o th In T h e Sen s or Enhan c ed 3 65 sen s or with in t egra t ed b a tt e ry a nd Blue t oo t h communicatio n ; upda t ed a lg o rithm Int e n s ively m a n a ged p a ti e nts w h o wan t bet t er control + A l l ins u li n - u s ing pa t ients + No n - ins u lin pa t ients Us e Case Targ et Tec h nol o gy Fu l l ye a r use with 1 sen s or a nd 1 c a l / w eek No tr a n s m i tt e r in c luded in the S ystem Dire c t co mm uni c a t i on be t we e n sens o r a nd handheld P ro g ra m i n de v el o p m e n t . P ro d u c t a tt r ibu t e s , s peci f ic a t i o n s , a n d de v el o p m e n t t i m elines s u bjec t t o r i sk s a n d un ce r t a i n t ie s . F o r m or e i n form a t i o n , s ee " R i sk F a c t or s " i n o u r A nnu a l R ep o r t o n F orm 1 0 - K for t h e y e a r e n ded D ece m be r 3 1 , 2 0 2 5 a n d o u r s u b s eq u e n t f ilings w i t h t h e S E C .
• C G M adoption c apped b y dail y o n - bod y burden • Vi s ibili t y , sk in i ss ue s , ala r m s pe r s i s t despite c on t rol • R e s ear c h s ho w s QoL relie f re m ain s un m et • 1 - Y ear I mplan t abl e CGM • N O TR A N S M I TT ER re m o v e s t he s ingle bigges t ba r rier • W ould leapf r og c o m pe t i t i v e o ff erin g s a s t he f ir s t C G M t o re m o v e t he o n - bod y t ran s m i t t er • T o broaden appeal be y ond t he c urren t E v er s en s e 365 u s er ba se • T o redu c e beha v ioral and e m o t ional barrier s t o lon g - t er m u se • T o po s i t ion i m plantable C G M a s lo w er burden, no t higher c o mm i t m ent M A RK E T C O N S TR A I N T S T E P - CH A N GE SO L UT I ON WH Y I T M A TT E RS Free d om e x p e c te d to re m o v e th e a d o p t i o n c e i li n g i d e nt i f i e d a c ro ss CG M ; s h i ft i ng i m p l antab l e C G M fro m d i fferent i ated a l ternati v e to sc a l ab l e preference. P r o g r a m i n d e v el o p m e n t . S t e p - c h a n ge s o l u t io n s , p ro d u ct at t r i b u t e s , a n t i c i p ate d b e n e f it s a n d d e v el o p m e n t t i m eli n e s s u b j ect t o r i s k s a n d u n cer t a i n t i e s . S u mm ary o f d irecti o n al q u al i t ati v e 2 0 2 5 r e s earc h i n s ig h t s P h a s e 1& 2 q u al i t ati v e r e s earc h (PWD s a n d H C P s ); q u a n t itati v e v al i d at i o n un d e r wa y t o a s s e ss r elati v e a d o pt io n p ro p e ns ity b y PWD t y p e ( r e s u l t s Ma r c h 2 0 2 6).
“ T ha t w ou ld m a k e u s m o re l i k e l y to u s e it – j u s t l o o k a t y ou r p ho n e … no c ha r g in g ” P WD – T 1 D , E v e rs e n s e Us er “ P h e nomen a l … r e m o v in g t h e e x t e rn a l tr a n s m itt e r re s o l v e s G e m i n i ’s l i m it a ti o n s ” E ndo “[F r eedo m ] is m o re appe a l i ng : si m p ler, no tr a n s m itt e r … c o u ld i m p ro v e adop ti o n on c e a v a i l ab l e ” Endo “ Big g a m e c h a nger … re m o v in g c ha r g in g and s w ipi n g en tirel y ” Nu r se “ t h e r e m o v a l o f t h e o n - ar m tr a n s m itt e r … ta k es a no t h e r pi e ce out of th e e qu a tio n ” Nu r se “ W ou ld pr e fer t h is – s o l v e s f o r t h e tr a n s m itt e r f all i n g o f f a n d ch a r g ing … f e e l s t his w o u ld j usti fy t h e add iti o n a l p r i c e ” P W D – T 2 D, FS L 3+ U s er Re m o v in g t h e e x t e rn a l tr a n s m itt e r r e s ol v es G e min i ’ s h y bri d - mod e l i mit a tion s ” Endo S o u r c e : Qu a l R e s e a rc h 1 S e p t e m b e r 2 0 R d 25. Ve r batim
• Full contro l o f reso u rcing and str a te g ic direction • U.S. transition com p lete ; E u r opea n t arget Q 2 2026 • Brian H a n s e n as s u m e d role as Sen s eonics C h ief C o m m ercial Of f icer a n d c ontin u es to lead t h e comm e rcial organizat i on • E u ropean t ransition ser v ices d u ring h andover • Eli m inated re v e n u e share, SENS as s u m e d costs ef f ective 1/1/ 26 • P u rchase p r ice is p r e d omi n antly i n ve n tory rep u rchase
• Comme r cial develop m ent a g r eement a n no u nced in A pr il 2 0 25 • Partnershi p enables r ea l - time r eading s f r om Eversense® t o be r eceive d b y the t wii s t pump • R eading s u s ed in the L oop algorith m a u t o ma t ical ly ad j u s t ins u lin d elive r y a n d p r edi c t future g lucose leve ls Eversense 365 expected t o p r ovide the l ongevi t y , conti n uity, a n d accurac y es s enti a l fo r A I D sys t ems Fir s t Automated Insulin Deliv e r y Pa r tne r ship Launc h i n g Integr a tion
F i n a n c i a ls P r e li m . Q1 2026* Q1 2025 F Y 2025 F Y 2024 R e v e n u e $ 1 1 . 7 M $6 . 3M $35. 3 M $22. 5M Gr o ss Pr o f i t $6.4M $1.5M $1 5 . 8 M $0.5M N et Lo ss ($31 M – $33 M ) ($14 . 3 M ) ($69 . 1 M ) (78 . 6 M) C as h (as o f 3 / 31 / 26) $64. 6M C a p i ta li z a t i on B as i c S h a r es (as o f 3 / 31 / 26) 41 . 8M P HC P r e - f und e d W a rr a n ts 4 . 2M W a rr a n ts (S h a r es / W A St ri ke P ri ce) 2 . 4 M / $7 . 40 O p t i on s (S h ares / W A Str i ke Pr i ce) 1.7 M / $2 1 . 77 R S U s 1 . 0M * T h e s e nu m b e r s are p r eli m i n ary e s t i m ate s , b a s e d o n inf or m ati o n c u rr e n t ly a v a i la b le t o m a n age m e n t , h a v e n o t b ee n re v i e we d b y o u r i n d e p e n d e n t r egi s t e r e d p u b li c a c co u n t i n g f irm a n d m a y v ary f ro m o u r a ct u al r e p or t e d f i n a n c i al s t ate m e n t s a s o f a n d f or t h e q u ar t e r e n d e d Ma r c h 31 , 2 0 2 6 T h e p r eli m i n ary f i n a n c i al i n f or m ati o n p r e s e n t e d h e r e i n s h o u l d n o t b e v i e we d a s a s u bs t it u t e f or fu ll f i n a n c i al s t ate m e n ts p r e p are d i n a c c or d a n c e wit h G A A P a n d r e v i e we d b y t h e C o m p a n y ’s i n d e p e n d e n t r egi s t e r e d p u b li c a c co u n t i n g f irm.
Unlock i ng poten t ial . Accelerating growth.