Good day everyone, welcome to the Senseonics second quarter 2026 earnings call. Later, you will have the opportunity to ask questions during the question- and- answer session. To register to ask a question at any time, please press star one on your telephone keypad. Please note, today's call will be recorded, I'll be standing by should you need any assistance. It is now my pleasure to turn the conference over to Jeremy Feffer from LifeSci Advisors. Please go ahead. Thank you. This is Jeremy Feffer from LifeSci Advisors. Before we begin today, let me remind you that the company's remarks include forward-looking statements. These statements reflect management's expectations about future events, operating plans, regulatory matters, product enhancements, company performance, and other matters, speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. A list of the factors that could cause actual results to be materially different from those expressed or implied by any of these forward-looking statements is detailed under Risk Factors and elsewhere in our Annual Report on Form 10-K for the year ended December 31st, 2025, our 10-Q for the period ended June 30th, 2026, and our other reports filed with the SEC. These documents are available on the investor relations section of our website at www.senseonics.com. We undertake no obligation to update publicly or revise these forward-looking statements for any reason except as required by law. Joining me today from Senseonics are Tim Goodnow, President and Chief Executive Officer, and Rick Sullivan, Chief Financial Officer. Brian Hansen, Chief Commercial Officer, and Mukul Jain, Chief Operating Officer, will also be available during the Q&A. I'll turn the call over to Tim. Thanks, Jeremy, thank you all for joining us today. I have to say, this is an exciting call to be giving today because it's an outstanding quarter for Senseonics. We're redefining what a CGM can be for people with diabetes, the second quarter showed just how much momentum that mission is building. This was another strong quarter for Senseonics, we are once again raising our full year 2026 global net revenue guidance now to $62 million-$66 million from $60 million-$64 million, representing year-over-year growth of about 80%. I'll keep my remarks focused here, as a quarter like this deserves a moment to properly highlight it. Second quarter revenue grew approximately 120% year-over-year, with U.S. revenue growing more than 150% with strong performance in both the DTC and HCP channels. We also completed the commercial transition of our business in Europe from Ascensia, effective June 1st and consistent with the timeline we gave you in May. I want to thank the team led by Brian Hansen, our Chief Commercial Officer, for the continued execution of this strategy. At the same time, we continued to scale Eon Care ahead of schedule, enabling broader and faster access to Eversense for prescribing clinicians and their patients. In addition to the strong revenue performance, it's also important that I spend a moment on the margins because this is one of the most important stories for the quarter. Gross margin came in at 59%, above the guiding range we gave you in June, and the strongest organic performance by the company in its history. I want to give real credit to our commercial, manufacturing, and supply chain teams for that execution. This kind of consistency does not happen by accident. Importantly, this quarter's margin doesn't include any one-time adjustments. This is a clean number, and I think that makes it an even stronger proof point. It's the second consecutive quarter that we've delivered margin at or near the high end of our range since bringing commercial operations fully in-house. That's exactly the kind of proof point that validates our decision we made to take control of our own commercialization in the first place. Given this performance, we are also raising our full year gross margin guidance to the range of 58%-61%, from the prior range of 55%-58%. Every point of margin we deliver today is a point that, over time, helps us fund our own operating expenses and moves us closer to being a business that can fund itself. This is our clear objective, and that is the whole thesis behind the commercial transition. We now have all the pieces. We own the tactics and we own the strategies. Q2 showed another quarter of progress from the transition, and our team is delivering quarter after quarter. I couldn't be prouder of the execution. During Q2, we also presented additional real-world data on Eversense 365 at the ADA Scientific Sessions in June. The data reinforced compelling clinical benefit through strong adherence with real-world system use averaging 93% and consistent loop metrics across the first and second six months of sensor wear, including a mean time and range of 66% in open- loop use, with more than 81% of our users achieving their hypoglycemia targets. Among those on a partnered AID system, we saw a mean time and range of approximately 76%. We also highlighted at the ADA the high-quality performance and survivability of Eversense for a full year, which we showed to be a meaningful differentiator in the quality aspects of our product compared to other available transcutaneous sensors, which clearly disappoint some of the users. We're pleased that the product continues to perform in the real world, which excites our users and meets their needs. We're at the most exciting stage of our journey yet, and this quarter is exactly the kind of proof point that demonstrates our strategy is working, bringing our commercial organization in-house, scaling Eon Care, driving Eversense 365 adoption, and developing the next generation of products to redefine CGM. Let me provide a bit more color on each of these areas before turning the call over to Rick. In the United States, our commercial momentum has continued to build, and frankly, it's exciting to watch. We shipped more units in the second quarter than in any other quarter in our history. The number of active prescribers writing for Eversense reached an all-time high, up approximately 130% year-over-year. Direct-to-Consumer remains our largest source of new patient growth. At the same time, our healthcare provider channel continues to expand as our sales force gains productivity, awareness expands, and we are continuing to see strong results from the Eversense 365 integration with the twiist insulin pump. twiist's footprint is roughly 100 sales territories and has meaningfully amplified our own commercial reach, and we continue to see the combination bring new patients to both products. As we noted at our ADA analyst event, approximately 90% of our new patients continue to come from the installed base of existing CGM users switching to Eversense. This speaks to the quality and differentiation of our sensor. Patient retention has also remained in line with our expectations. Simply put, our U.S. business is executing at a high level across every part of the model, performing consistent with a high- growth plan we've laid out, and we expect that strength to continue through the back half of the year. I also want to spend a few minutes on Eon because it has quickly become a strong asset for growth today. At its core, Eon makes Eversense easy to get. It gives patients simple, convenient, and affordable access to the sensor, and it partners with prescribers so they can bring the benefit of Eversense to their patients without having to build the insertion procedures into their own practice. That model matters because it means any prescriber, not just trained inserters, can say "yes" to Eversense. The network's momentum in the second quarter was outstanding. We added 28 new providers, bringing us to more than 90 nurses, already well ahead of pace to deliver our goal of 100 by the end of 2026, and we have plans in place to push beyond that target. By year-end, we expect to have an Eon provider within 30 miles of 60% of the U.S. population. That reach is showing up directly in volume. Eon performed more insertions in the second quarter than in any other quarter in its history and June was the highest volume month ever. Today, Eon is performing approximately 40% of all Eversense insertions in the United States, and we expect to account for more than half by year-end. Eon aligns tightly with our Direct-to-Consumer strategy. Most patients who come to us through DTC channels have primary care prescribers who are not Eversense-trained inserters. Eon closes that gap. It is what makes getting Eversense convenient and affordable for exactly those patients. While Eon's primary focus remains enabling sensor adoption, it is expected to become a contributor to Senseonics' economics in its own right. Simply put, Eon is a key element powering Eversense growth today, and it will be essential to the rapid acceleration and adoption we expect with Gemini and Freedom tomorrow. On the reimbursement side, our channel mix remains a real strength for us, holding constant at approximately 60% of our volume flowing through and the remaining 40% through our DME channel, in line with our expectations. We continue to expect this split to hold for the remainder of the year. In Europe, we completed the commercial transition of the business from Ascensia during the second quarter, bringing over the full commercial organization, including all local employees, and standing up of our own dedicated sales force across Germany, Italy, Spain, and Sweden. That transition landed a little later in the quarter than we had originally planned, which slightly affected our tender-driven markets. In each of our tender countries, we need to both transfer ownership of the existing tender from Ascensia to Senseonics and simultaneously request the upgrade from our legacy 180-day Eversense E3 product to Eversense 365. Because the underlying commercial transition landed later in the quarter, that work in Italy and a handful of other markets got slightly pushed out as well. That timing, together with a small purchase of Eversense inventory back from Ascensia as we finalized the transition, similar to adjustments we've made in the U.S. in the past, is why our OUS revenue came in slightly lower than we had modeled for the quarter. None of this changes our confidence in the opportunity in front of us in Europe. It's truly a matter of timing, and we expect the revenue associated with these tender updates to shift to the third and fourth quarter. We do not expect an impact on the full year revenue in Europe, but it will slightly push some of this revenue into Q3 and Q4. We continue to expect Europe to represent approximately 20% of our total revenue for the full year. Turning to our product pipeline, our additional major pillar for Senseonics' growth. Both Gemini and Freedom continue to advance in line with our expectations, and I want to take a moment to remind everyone just how exciting this roadmap is. Our mission has always been to push the boundaries of sensing technology and make diabetes less visible. Both Gemini and Freedom are how we get there. Gemini is on track for the 510 submission to the agency in Q1 2027 and launch soon after its clearance. It will be the first CGM with an optional on-body transmitter, giving us two distinct products from a single platform: a flash style mode where patients can scan for a reading just using their smartphone, and a full continuous mode for patients who choose to keep the transmitter on. Freedom is right behind it, and we're preparing to begin our first in-human study later this year, an important next step towards our vision of eliminating the on-body transmitter entirely. That timing is supported by encouraging results from a recent animal study that we shared at the ADA, where we saw 100% Bluetooth communication success within eight feet of the implant sensor and up to 83% with connections at 25 feet, giving us confidence in the antenna and protocol choices we've made as we move toward human testing. We remain incredibly excited about the progress that we've made on both Gemini and Freedom, and we continue to be on track to deliver the most revolutionary advancements in diabetes technology. Also advancing the platform in June, we announced a strategic partnership with Welldoc to develop the next- generation Eversense 365 app. The new app will preserve everything patients rely on today while adding improved integration with tools like Apple Health and Google Health Connect, and it lays the groundwork for future AI-powered features leveraging Welldoc's healthcare-ready AI platform. We expect to launch the new app in the U.S. in the second half of this year, with European availability to follow in early 2027. All part of our mission to make it easier and more convenient for people to manage their diabetes. With that, I will now turn the call over to Rick to walk through our financial results. Thanks, Tim, and thanks, everyone, for joining us this afternoon. I will keep my comments on our sales and reimbursement channels brief today, since the mechanics remain in line with what we have previously shared and touch on the headlines before moving into our results. I am happy to go deeper into any of it during Q&A. Direct-to-Consumer remains our largest U.S. sales channel, followed by our Healthcare Provider channel and patient re-orders, which continue to grow as our installed base matures. On reimbursement, as Tim just described, our bundled pay and DME mix held at approximately 60/40 this year, consistent with our expectations. Now let's turn to the financials for the quarter. Net revenue for the second quarter was $14.5 million, an increase of approximately 120% compared to $6.6 million in the second quarter of 2025, driven by the continued Eversense 365 adoption in the U.S., the elimination of the Ascensia revenue share, and a favorable reimbursement mix. U.S. revenue was $12.6 million, up more than 150% from $4.9 million in the prior year period. Revenue outside the U.S. was $1.9 million, up approximately 12% from $1.7 million in the second quarter of 2025. A smaller increase than we would expect on a full- year basis, reflecting the slight delay in tender updates to the 365-day product in Europe as we finalize the transition that Tim described, which is purely a matter of timing and not demand. As those tenders update, we would expect OUS revenue to accelerate in the third and fourth quarters, still landing at approximately 20% of full- year revenue. A big highlight for us in Q2 is our gross profit margin. Gross profit for the second quarter of 2026 was $8.6 million, representing a gross margin of approximately 59%. This is compared with gross profit of $3.1 million and a gross margin of approximately 47% for the second quarter of 2025. This reflects both the strong execution of our manufacturing and supply chain teams as we continue to increase lot sizes and make improvements throughout the manufacturing process, and the reimbursement mix with about 60% of the business continuing to flow through the bundled pay reimbursement channel with higher average selling prices. Research and development expenses for the second quarter of 2026 were $11.6 million, compared with $7.7 million for the prior year period, an increase of $3.9 million, primarily driven by ongoing clinical trials for the Gemini product and development efforts for our Freedom product, making progress towards our vision of eliminating the on-body transmitter entirely. Selling general and administrative expenses for the second quarter of 2026 were $32.9 million, compared with $9.7 million for the prior year period. The increase is due to the transition of commercialization back to us from Ascensia and the assumed operational responsibilities related to the commercial integration in the U.S. and Europe. Included in these amounts are transition service agreement expenses paid to Ascensia, most of which were concluded by the end of the second quarter. Net loss was $36.7 million, or $0.63 per share, compared to a net loss of $14.5 million, or $0.36 per share in the second quarter of 2025. As a reminder, as you've heard today, we are in a period of investment in Eversense commercialization and our next wave of CGM innovation. We believe those investments have clearly begun to pay dividends. We are taking a long-term view of the business. We believe our decisive actions so far this year are laying a strong foundation for a commercially and financially sustainable enterprise. As of June 30th, 2026, cash, restricted cash, and cash equivalents totaled $143 million, and debt and accrued interest was $55.5 million. I also want to take a moment to reemphasize the financing we completed earlier in the second quarter because it's a real strategic asset heading into the back half of the year. In early May, we raised more than $100 million in growth capital in two steps: an equity offering of common stock and pre-funded warrants that generated approximately $90 million in net proceeds, led by a handful of institutional investors with strong conviction in the Eversense story. An amendment to our credit facility with Hercules Capital that expanded the facility from $100 million to $140 million, giving us access to an additional $20 million immediately, with up to $85 million more available over the next 18 months, subject to meeting certain conditions. On top of the cash balance I just described, I believe our balance sheet is well-positioned to support our commercial strategy and pipeline investments. Given the strength we saw this quarter, as Tim highlighted, we are raising full year 2026 revenue guidance to $62 million-$66 million, up from our prior range of $60 million-$64 million. We are also raising our margin guidance and now expect our full-year gross margin to be in a range of 58%-61%. The momentum we are seeing through two quarters gives us confidence in these expectations. As in prior years, we expect revenue to be weighted toward the back half of 2026, with approximately 40% in the first half and 60% in the second half, a seasonal pattern that has historically held true independent of the European timing dynamics Tim described. We continue to expect operating expenses of $150 million-$160 million. Cash utilization of $110 million-$120 million for the year. With that, I'll turn it back to Tim for a few closing remarks. Thank you, Rick. To wrap up, I want to step back and frame where we stand because I think this was one of the strongest quarters in Senseonics history. Coming into the year, our thesis was that bringing the commercial organization fully in-house, combined with the strength of Eversense 365, would unlock durable revenue growth and margin expansion. So far, we see this thesis is playing out ahead of expectations. Our second quarter results give us confidence. Revenue up approximately 120% year-over-year. Margin performance at the high end of our guided range. Continued strength in the U.S. A European transition that is operationally complete, even as some of the associated revenue shifts later in the year. A meaningfully strengthened balance sheet and an Eon Care Network that is on track to scale beyond our 100-patient per stop. An Eon Care Network that is on track to scale beyond our 100-provider goal, supporting maximizing our DTC strategy and opening up access across the U.S. We're not just growing the business, we're redefining what a CGM can be, and we believe this quarter is showing that. We remain confident in our plan for the year, and what we're seeing so far in 2026 gives us even more conviction. Thank you all for joining us today. With that, we'll now open up the line for questions. Thank you. If you'd like to ask a question, press star one on your keypad. To leave the queue at any time, press star two. Once again, that is star one to ask a question. We'll take our first question from Joshua Jennings with TD Cowen. Your line is open. Hi, Tim. Hi, Rick. Thanks for taking the question. This is Colin on for Josh. Congrats on the nice quarter as well. Thanks, Colin. Thank you. How are you? I'm great. How about yourself? Doing well. Can you talk about the drivers of the really strong U.S. new patient number, as well as how you're rolling out the expansion of the Eon Care Network, whether that be by filling some of the white space in any regions or growing your presence in different key areas? Growth fundamentally is it's new patient starts, right? As we said, the approach, as you know, is through the DTC channel, which is about 60% of the growth, and the other 40% is coming from the HCPs. DTC, we've run a lot of commercials in social media. We're getting good response. We've increased the effectiveness of that, so taking the cost down, which allows us to get broader and broader reach, and through our internal procedures or their internal service teams, we're improving the conversion on each one of those. That's happening month-over-month, quarter-over-quarter. On the sales reps side, they're doing a great job at reaching out with folks as Eversense becomes more and more aware at each one of their clinics. They're able to go penetrate deeper as well. Obviously, as we bring more folks in, especially with the DTC, they're able to go broader in the offices that they're able to call on. It's really just effectiveness of the entire commercial organization. Now that we have control of that, we're able to make all of the adjustments. We make the real-time, week-to-week adjustments in regards to what investments we want to make, in regards to what ZIP codes that we want to focus on. That's all directly within our control. Brian and his team are doing a great job at executing on all of those. Eon growth, as you've seen, we actually accelerated from what we said because we're just seeing great progress with that. It takes a relatively short amount of time period to bring new nurses up to do the procedure. We do the training on it, we make sure that they're credentialed, and we're putting in the geographies where we're showing the success in the commercial aspects as well. It's really building on each other. As we show more commercial success, there's a greater need for inserters. Obviously, where we have greater insertion depth, we can push harder and harder with the commercial. It really is a rising tide is floating all the boats. That sounds great. Thank you. Maybe with the E 365 reinsertion cycle coming up here in the back half, can you put that recurring revenue stream of sorts into perspective versus your new patient adoption expectations? Thank you. Well, remember, we're certainly continuing to ramp on 365, but we've been reinserting 365 now since last November, so we've got a pretty good track record. It continues to hold exactly where we expect it would be. From a quantitation perspective, I don't know if we've broken that down yet, but it continues to be right on our plan. Once again, if you would like to ask a question, please press star one on your keypad now. We'll move next to Anthony Petrone with Mizuho Group. Your line is open. Congratulations on the solid quarter here. Maybe just a little bit on the complexion on the U.S. side. How much was just new territories opening up versus twiist integration? Then as you look ahead, how many new regions with the capital raise do you expect to turn on into the end of the year? Then I'll have a follow-up. Thanks. Sure. Thanks, Anthony. We actually have not turned on any new regions after this capital raise. We have 43 regions that we are active in, and we continue to do that. We have increased some of the DTC in those regions, which was as we have planned. We're continuing to execute. As you may have heard us say, we've got 43 regions externally, and we've got about 55 or so people internally that do the conversions of those DTC efforts. We're very excited about the work that we're seeing and the progress that we're making with the twiist partnership. Clearly our penetration into Type 1 is improving. As a result of that, as you know, we were pretty much 80%-85% Type 2. We're seeing that moderate some, but still very much predominantly a Type 2-focused company at this point. We do expect that'll change as we bring on other pump companies in the future. Thanks. The follow-up will be just on Gemini study expected to be completed by the end of the year. Just wondering on timing for when we could actually see the Gemini data next year. Would it be at ADA of 2027? Thanks again. Congrats. Hey, Anthony. This is Mukul. Yeah. That should be our expectation to see it by next summer. We will complete end of the year, submit Q1, and then a 510(k) submission, followed by the clearance, hopefully within a quarter of that. Once more, if you would like to ask a question, that is star one. We'll pause another moment. Thank you. At this time, there are no further questions in queue. This brings us to the end of today's meeting. We appreciate your time and participation.