Medical technology company Senseonics Holdings Inc. reported a fourth-quarter loss of 11 cents per share that beat Wall Street expectations by a penny.
The net loss was $9.9 million, or 11 cents per share. Analysts were expecting a net loss of 12 cents per share.
Fourth-quarter revenue was $300,000 compared to no revenue that was earned in the fourth quarter of 2015 due to the expansion of distribution.
In 2016, Senseonics Holdings presented pre-market approval for Eversense, the company’s glucose monitoring system, to the Food and Drug Administration and launched the product to distribution partners in Sweden, Italy, The Middle East and Africa.
“In the year ahead, we look forward to continuing the momentum throughout 2017, with the completion of significant regulatory milestone in the United States and meaningful commercial sales ramp in Europe,” said Chief Executive Officer Tim Goodnow in a statement.
Sales and marketing expenses increased $500,000, research and development expenses increased $800,000, while administrative expenses decreased $300,000.
Its shares fell 1 cents to $2.31 in Friday afternoon trading.
The filing can be found here.
