Liquidity and Capital Resources	6 Months Ended
Jun. 30, 2026
Liquidity and Capital Resources
Liquidity and Capital Resources	2.Liquidity and Capital Resources The Company has not generated significant profit from the sale of products and its ability to generate revenue and achieve profitability largely depends on the Company’s ability to successfully expand the commercialization of its implantable continuous glucose monitoring systems, including the Eversense E3 system (“Eversense E3”) and the Eversense 365 system (“Eversense 365” and, together with Eversense E3, “Eversense” or the “Eversense Systems”), continue the development of its products and product upgrades, and to obtain necessary regulatory approvals or certifications for the sale of those products. These activities including the costs associated with our plans to transition the commercial activities back to the Company (as further described in Note 4) will require significant uses of working capital through 2026 and beyond. The Company generated total net loss of $(69.1) million and $(78.6) million for the years ended December 31, 2025 and 2024, respectively. For the six months ended June 30, 2026, the Company had a net loss of ($69.0) million and an accumulated deficit of $1.1 billion. To date, the Company has funded its operations principally through the issuance of preferred stock, common stock, warrants, convertible notes and debt. As of June 30, 2026, the Company had unrestricted cash, cash equivalents and marketable securities of $142.7 million. Several actions have been taken by the Company with regards to liquidity and to manage our cash flows for the year ended December 31, 2025, and the six months ended June 30, 2026. These actions included, but were not limited to, the completion of multiple equity financing transactions during 2025 and 2026. On May 4, 2026, the Company completed an underwritten public offering (the “Public Offering”) of 8,000,000 shares of its common stock at a public offering price of $5.00 per share and, in lieu of common stock, pre-funded warrants to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per pre-funded warrant share. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions, which the underwriters exercised in full. As a result, the total gross proceeds to the Company from the offering were approximately $92.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The net proceeds to the Company were approximately $86.0 million, after deducting underwriting discounts and commissions and offering expenses. The Public Offering is further described in Note 13. On May 1, 2026, the Company entered into a Second Amendment to its Loan and Security Agreement with Hercules Capital, Inc. (the “Amended Loan Agreement”), pursuant to which the lenders agreed to make available to the Company up to $140.0 million in senior secured term loans. The facility consists of (i) an initial term loan of $35.0 million, which was previously funded, (ii) an additional term loan of $10.0 million (the “Tranche 2 Loan”), and (iii) additional tranches of term loans in the amounts of up to $10.0 million, $10.0 million, $15.0 million and an uncommitted $60.0 million, respectively, subject to the satisfaction of specified conditions. The loans under the Amended Loan Agreement mature on September 3, 2029. The Second Amendment closed on May 6, 2026 (the “Amendment Closing Date”), and both the 2026 Tranche 2 Loan (as defined below) and 2026 Tranche 3A Loan (as defined below) were funded at closing for total gross proceeds of $20.0 million. The Amended Loan Agreement is further described in Note 12. As of June 30, 2026, the Company has generated approximately $6.2 million in net proceeds from the sale of 892,380 shares under the Sales Agreement (as described in Note 13) during the six months ended June 30, 2026. In 2025, the Company completed an underwritten public offering and private placement resulting in aggregate net proceeds of approximately $72.2 million and approximately $30.8 million in net proceeds received under the Equity Distribution Agreement (as described in Note 13) from March 2024 through March 2025. Based on the Company's current cash position, cash flow forecasts, and the additional financial resources obtained through the actions described above, management believes that the Company's existing cash and cash equivalents, together with anticipated cash flows, will be sufficient to fund its operations and meet its obligations as they become due for at least the next twelve months from the date these condensed consolidated financial statements are issued. In addition, given the Company's historical reliance upon debt and equity financing, management will continue to evaluate our funding needs against operating performance and strategic initiatives.

Liquidity and Capital Resources

6 Months Ended

Jun. 30, 2026

2.Liquidity and Capital Resources

The Company has not generated significant profit from the sale of products and its ability to generate revenue and achieve profitability largely depends on the Company’s ability to successfully expand the commercialization of its implantable continuous glucose monitoring systems, including the Eversense E3 system (“Eversense E3”) and the Eversense 365 system (“Eversense 365” and, together with Eversense E3, “Eversense” or the “Eversense Systems”), continue the development of its products and product upgrades, and to obtain necessary regulatory approvals or certifications for the sale of those products. These activities including the costs associated with our plans to transition the commercial activities back to the Company (as further described in Note 4) will require significant uses of working capital through 2026 and beyond. The Company generated total net loss of $(69.1) million and $(78.6) million for the years ended December 31, 2025 and 2024, respectively. For the six months ended June 30, 2026, the Company had a net loss of ($69.0) million and an accumulated deficit of $1.1 billion. To date, the Company has funded its operations principally through the issuance of preferred stock, common stock, warrants, convertible notes and debt. As of June 30, 2026, the Company had unrestricted cash, cash equivalents and marketable securities of $142.7 million.

Several actions have been taken by the Company with regards to liquidity and to manage our cash flows for the year ended December 31, 2025, and the six months ended June 30, 2026. These actions included, but were not limited to, the completion of multiple equity financing transactions during 2025 and 2026.

On May 4, 2026, the Company completed an underwritten public offering (the “Public Offering”) of 8,000,000 shares of its common stock at a public offering price of $5.00 per share and, in lieu of common stock, pre-funded warrants to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per pre-funded warrant share. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions, which the underwriters exercised in full. As a result, the total gross proceeds to the Company from the offering were approximately $92.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The net proceeds to the Company were approximately $86.0 million, after deducting underwriting discounts and commissions and offering expenses. The Public Offering is further described in Note 13.

On May 1, 2026, the Company entered into a Second Amendment to its Loan and Security Agreement with Hercules Capital, Inc. (the “Amended Loan Agreement”), pursuant to which the lenders agreed to make available to the Company up to $140.0 million in senior secured term loans. The facility consists of (i) an initial term loan of $35.0 million, which was previously funded, (ii) an additional term loan of $10.0 million (the “Tranche 2 Loan”), and (iii) additional tranches of term loans in the amounts of up to $10.0 million, $10.0 million, $15.0 million and an uncommitted $60.0 million, respectively, subject to the satisfaction of specified conditions. The loans under the Amended Loan Agreement mature on September 3, 2029. The Second Amendment closed on May 6, 2026 (the “Amendment Closing Date”), and both the 2026 Tranche 2 Loan (as defined below) and 2026 Tranche 3A Loan (as defined below) were funded at closing for total gross proceeds of $20.0 million. The Amended Loan Agreement is further described in Note 12.

As of June 30, 2026, the Company has generated approximately $6.2 million in net proceeds from the sale of 892,380 shares under the Sales Agreement (as described in Note 13) during the six months ended June 30, 2026.

In 2025, the Company completed an underwritten public offering and private placement resulting in aggregate net proceeds of approximately $72.2 million and approximately $30.8 million in net proceeds received under the Equity Distribution Agreement (as described in Note 13) from March 2024 through March 2025.

Based on the Company's current cash position, cash flow forecasts, and the additional financial resources obtained through the actions described above, management believes that the Company's existing cash and cash equivalents, together with anticipated cash flows, will be sufficient to fund its operations and meet its obligations as they become due for at least the next twelve months from the date these condensed consolidated financial statements are

issued. In addition, given the Company's historical reliance upon debt and equity financing, management will continue to evaluate our funding needs against operating performance and strategic initiatives.