Sensus Healthcare, Inc. ( (SRTS) ) has released its Q3 earnings. Here is a breakdown of the information Sensus Healthcare, Inc. presented to its investors.
Sensus Healthcare, Inc. is a medical device company that focuses on providing innovative, non-invasive treatment solutions for skin cancer and keloids using advanced superficial radiotherapy technology. The company operates in the medical equipment sector, offering patient-centric treatment platforms designed for precision and adaptability in various clinical environments.
The recent earnings report from Sensus Healthcare highlights a significant financial rebound in the third quarter of 2024, with revenues more than doubling to $8.8 million compared to the same period in the previous year. This remarkable growth is attributed to increased sales of superficial radiotherapy units, marking a substantial turnaround from the losses recorded in the prior year.
Key financial metrics reveal a substantial improvement in profitability, with a net income of $1.2 million achieved in Q3 2024, reversing a net loss of $1.5 million from 2023. The company also reported a positive adjusted EBITDA of $1.6 million, compared to a negative $1.7 million in the previous year. Strategic highlights include the signing of a Fair Deal Agreement with Platinum Dermatology Partners, expanding Sensus’s reach to over 130 dermatology clinics across the U.S.
Additionally, the company has successfully shipped 27 systems, including one to an international customer, and continues to engage in revenue-sharing Fair Deal Agreements, which are expected to generate recurring revenue in the coming years. The CEO emphasized the potential for ongoing growth through this innovative business model and the company’s proprietary software, Sentinel IT, which supports clinical billing and asset management.
Looking forward, Sensus Healthcare’s management remains optimistic about the future, with expectations of continued growth driven by the increasing demand for non-melanoma skin cancer treatments. The company’s strategic partnerships and technological innovations are poised to strengthen its market position and contribute positively to its financial performance in the coming years.
