Shares of medical technology Senseonics Holdings, Inc. (NYSE American: SENS) has been declining -9.67% in pre-market session today falling to a price level of $2.43. The drop came on the heels of financial results announced by the company today.
On what metrics does the stock decline?
The 2021 Backdoor Crypto Portfolio (free)
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Sponsored
Senseonics Holdings, Inc. is a medical technology company focused on developing and commercializing glucose monitoring devices that make diabetics’ lives easier.
Senseonics offers two CGM systems, Eversense and Eversense XL, that incorporate a small sensor inserted completely under the skin and wirelessly communicating with a controller that is worn over that sensor.
Data on glucose levels are automatically sent to a smartphone app every 5 minutes.
Financial results for the quarter and the full year ended December 31, 2020 were released by Senseonics today. Weaker revenue and income posted by the company is seems to be weighing on the stock price today. Company’s performance in brief is as follows:
- For the quarter, total revenue dropped by 130% to $3.9 million total revenue of $9.0 million for the same period in 2019.
- S. revenue for the quarter was $0.4 million while revenue from outside the U.S was $3.5 million.
- Gross profit increased to $2.6 million in the fourth quarter 2020, an increase of $10.8 million compared to the same quarter last year.
- Net loss increased by $66.6 million to $101.6 million in the fourth quarter of 2020, or $0.42 per share, compared to $35.6 million or $0.18 per share in prior year quarter.
- Compared to total revenue of $21.3 million in 2019, total revenue for 2020 dropped to $4.9 million.
- Revenues for the United States were in the amount of $1.1 million while revenues for the rest of the world totaled $3.8 million.
- For 2020, company delivered a gross profit of ($17.4) million, a lesser loss of $2.1 million lesser year-over-year.
- As a result, net loss increased by $59.6 million, or $0.77 per share, from $115.5 million, or $0.61, in 2019 to $175.2 million, or $0.77.
