What drove SENS's positive earnings surprise in 2024?

Senseonics Holdings (SENS) experienced a positive earnings surprise in 2024, driven primarily by the successful launch of its Eversense 365 continuous glucose monitor (CGM) system and strategic partnerships. Here are the key factors that contributed to this positive surprise:

1. **Eversense 365 Launch**: The approval and successful launch of the Eversense 365 CGM system in the U.S. and plans for European launch in 2025 significantly boosted revenue. The system's unique value proposition and patient feedback have been very positive, indicating strong demand in the market.
2. **Patient Base Growth**: The patient base increased by 56% in 2024, surpassing the target growth of 50%, with a significant number of patients switching from competitive CGMs. This growth in the patient base directly impacted revenue and gross profit.
3. **Gross Profit Improvement**: Gross profit increased significantly in Q4 2024, driven by increased margins on the Eversense 365 product and reduced manufacturing costs. This improvement in gross profit reflects operational efficiency and the success of the new product line.
4. **Strategic Partnerships**: Partnerships with Ascensia Diabetes Care and Mercy Health system have expanded marketing efforts and facilitated access to new prescribers, contributing to the growth in patient base and revenue.
5. **Revenue from International Market**: Although revenue outside the U.S. decreased from $8.3 million in 2023 to $7.2 million in 2024, the overall revenue remained relatively flat compared to 2023, despite a significant increase in the patient base. This indicates a stable and growing revenue stream from international markets.

In summary, the successful launch of the Eversense 365 CGM system, strategic partnerships, and growth in the patient base were the primary drivers of Senseonics Holdings' positive earnings surprise in 2024.

|code|Ticker|Name|Date|Revenue Surprise|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|SENS|SENS.A|Senseonics Holdings|2024 Q1|490000|0|170|
|SENS|SENS.A|Senseonics Holdings|2024 Q2|-75000|0|170|
|SENS|SENS.A|Senseonics Holdings|2024 Q3|183000|-0.01|170|
|SENS|SENS.A|Senseonics Holdings|2024 Q4|510000|0.01|170|