Dilution profile // every instrument, one screen, from SEC filings

Senseonics Holdings, Inc. (SENS)

CIK 1616543 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$300M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 15% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-89% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOW~29 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-11-042026-07-31

Latest: 52.9M shares as of Jul 31, 2026 (10-Q). Share count fell from 814.7M to 40.9M between Aug 1, 2025 and Oct 31, 2025, a pattern consistent with a reverse split (roughly 1-for-20); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Exchange Warrant3.4M$0.02
Warrants Excluding Certain Specified Warrants2.4M$5.0167
Purchase Warrant771,288$0.02
Term Loan Stock Purchase Warrants2026 Tranche Two and Threea79,732$5.01677y
Term Loan Stock Purchase Warrants Tranche141,619$9.09
Term Loan Stock Purchase Warrants Tranche217,395$9.09
Stock Purchase Warrants Exercise Price One5,830$77.2
Stock Purchase Warrants Exercise Price Three4,033$37.2
Stock Purchase Warrants Exercise Price Two3,152$47.6
Term Loan Stock Purchase Warrantsnot tagged$9.09

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 8.0M underlying shares, as reported May 4, 2026 (10-Q).

Reported exercise price: $0.35 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $4.8M as of Aug 9, 2020.

Rough fully diluted estimate: 60.9M = 52.9M O/S + 8.0M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Convertible Senior Subordinated Notes Due 2025$82.0M$20.4Mnot tagged5.25%

Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding52.9MJul 31, 2026
+ Exchange Warrant (if exercised)3.4MMar 31, 2023
+ Warrants Excluding Certain Specified Warrants (if exercised)2.4MJun 30, 2026
+ Purchase Warrant (if exercised)771,288Mar 13, 2023
+ Term Loan Stock Purchase Warrants2026 Tranche Two and Threea (if exercised)79,732May 6, 2026
+ Term Loan Stock Purchase Warrants Tranche1 (if exercised)41,619Sep 8, 2023
+ Term Loan Stock Purchase Warrants Tranche2 (if exercised)17,395Jan 2, 2024
+ Stock Purchase Warrants Exercise Price One (if exercised)5,830Jun 30, 2016
+ Stock Purchase Warrants Exercise Price Three (if exercised)4,033Jun 30, 2016
+ Stock Purchase Warrants Exercise Price Two (if exercised)3,152Jun 30, 2016
Fully diluted estimate59.7M+12.8% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $300.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Aug 6, 2025$300.0M registeredfiling →
S-3Nov 27, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 2 executed · 0 registered.

EXECUTEDMay 1, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 30, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEAug 18, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEAug 18, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 6, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDMay 16, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 15, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 15, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEDec 6, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDNov 27, 2024S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDOct 28, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 28, 2024Unregistered share sale disclosed (8-K item 3.02)8-K

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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