Senseonics Holdings (SENS) saw its stock price plummet 5.47% in after-hours trading on Wednesday, following the company's announcement of a mixed shelf offering and the release of its second-quarter earnings report. The medical technology company, known for its implantable continuous glucose monitoring systems, faced investor concerns over potential share dilution.

The primary catalyst for the stock's decline appears to be Senseonics' filing for a mixed shelf offering of up to $300 million with the SEC. This move allows the company to issue various types of securities, including common stock, preferred stock, debt securities, warrants, or units, at its discretion. While this provides financial flexibility for the company, it also raises concerns about potential dilution of existing shareholders' stakes, leading to downward pressure on the stock price.

Simultaneously, Senseonics released its Q2 2025 earnings report, which showed mixed results. The company reported a loss of $0.02 per share, in line with analyst expectations and an improvement from the $0.03 loss per share in the same quarter last year. Revenue came in at $6.649 million, slightly missing the analyst consensus estimate of $6.652 million but representing a 36.67% increase year-over-year. Despite the growth, the company still posted a net loss of $14.501 million for the quarter. Looking ahead, Senseonics provided a full-year revenue outlook of $34-38 million, which didn't appear to offset investor concerns about the potential dilution from the shelf offering.