The Germantown, Maryland-based continuous glucose monitoring technology developer posted profits of $103.9 million, or 22¢ per share, on sales of $3.7 million for the three months ended June 30, 2022, for a massive bottom-line gain from losses of more than $180 million this time last year on sales growth of 12.9%.
Senseonics attributed its $284.5 million increase in net income to the accounting for embedded derivatives and fair value adjustments.
Adjusted to exclude one-time items, the company posted losses of 3¢ per share, coming in 3¢ behind expectation on Wall Street, where analysts were looking for sales of $4.4 million.
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