Sensus Healthcare Reports First Quarter 2025 Financial Results
21 SRT systems shipped during the quarter; revenues of
65% increase in treatment volume from FDAs over preceding quarter
Profitability forecast for the next three quarters and for the full year
Conference call begins at
Highlights of the first quarter of 2025 include the following:
-
Revenues were
$8.3 million -
Net loss was
$2.6 million , or$(0.16) per share - Shipped 21 superficial radiotherapy (SRT) systems, including 15 to a large customer and one internationally
-
Showcased SRT systems and several pre-commercial products at the 2025
Winter Clinical Dermatology Conference and at the 2025American Academy of Dermatology (AAD) Annual Meeting, including hosting a highly successful event for customers and prospects
Management Commentary
“During the first quarter we invested in several important initiatives that we expect will benefit our business for the rest of the year and beyond, including in sales and marketing and in research and development. Three of the year’s most important dermatology medical conferences took place during the quarter, and we were delighted by the extremely strong response to our event at the AAD for customers and prospects that featured Olympic swimmer
“We also stepped up our investment in research and development including lobbying efforts to ensure the new administration fully appreciates the value of IG-SRT to the healthcare system and patients, as well as finalizing development of the TransDermal Infusion (TDI) product with Sentinel™ IT Solutions capabilities and further enhancing products that incorporate IG-SRT technology,” he added. “We remain confident in our growth trajectory and expect to be profitable in each of the next three quarters and for the full year, making this the right time for these investments. We expect revenue from FDAs to begin contributing meaningfully in the second half of the year and are encouraged by the 65% quarter-over-quarter increase in the number of patient treatments from FDA-based SRT systems. We affirm expectations to sign 3-5 additional multisite FDA customers this year.”
First Quarter Financial Results
Revenues were
Cost of sales was
Gross profit was
General and administrative expense was
Selling and marketing expense was
Research and development expense was
Other income of
Net loss for the first quarter of 2025 was
Adjusted EBITDA for the first quarter of 2025 was negative
Cash and cash equivalents were
Use of Non-GAAP Financial Information
This press release contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in
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(unaudited) |
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For the Three Months Ended |
||||||||||
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||||||||||
(in thousands) |
|
|
2025 |
|
|
|
2024 |
|
||
Net income (loss), as reported |
$ |
(2,572 |
) |
$ |
2,274 |
|
||||
Add: |
||||||||||
Depreciation and amortization |
|
86 |
|
|
70 |
|
||||
Stock compensation expense |
|
79 |
|
|
91 |
|
||||
Income tax expense |
|
110 |
|
|
827 |
|
||||
Interest income, net |
|
(184 |
) |
|
(214 |
) |
||||
Adjusted EBITDA, non GAAP |
|
$ |
(2,481 |
) |
|
$ |
3,048 |
|
Conference Call and Webcast
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Following the conclusion of the conference call, a replay will be available until
About
Forward-Looking Statements
This press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases, these statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," “approximately,” "potential" or negative or other variations of those terms or comparable terminology, although not all forward-looking statements contain these words.
Forward-looking statements involve risks and uncertainties because they relate to events, developments, and circumstances relating to Sensus, our industry, and/or general economic or other conditions that may or may not occur in the future or may occur on longer or shorter timelines or to a greater or lesser degree than anticipated. In addition, even if future events, developments, and circumstances are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this press release, as a result of the following factors, among others: the possibility that inflationary pressures continue to impact our sales; the level and availability of government and/or third party payor reimbursement for clinical procedures using our products, and the willingness of healthcare providers to purchase our products if the level of reimbursement declines; concentration of our customers in the
To date, the
Any forward-looking statements that we make in this press release speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect events or circumstances after the date of this press release, except as may be required by applicable law. You should read carefully our "Introductory Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the
(Tables follow)
|
|||||||
As of |
As of |
||||||
(in thousands, except shares and per share data) |
2025 |
2024 |
|||||
(unaudited) |
|
||||||
Assets |
|||||||
Current assets |
|||||||
Cash and cash equivalents |
$ |
19,072 |
$ |
22,056 |
|||
Accounts receivable, net |
18,018 |
19,731 |
|||||
Inventories |
9,923 |
10,097 |
|||||
Prepaid inventory |
5,650 |
3,347 |
|||||
Other current assets |
|
1,533 |
|
1,507 |
|||
Total current assets |
54,196 |
56,738 |
|||||
Property and equipment, net |
2,678 |
1,997 |
|||||
Deferred tax asset |
2,087 |
2,197 |
|||||
Operating lease right-of-use assets, net |
633 |
581 |
|||||
Other noncurrent assets |
|
616 |
|
652 |
|||
Total assets |
$ |
60,210 |
$ |
62,165 |
|||
Liabilities and stockholders’ equity |
|
||||||
Current liabilities |
|||||||
Accounts payable and accrued expenses |
$ |
5,635 |
$ |
4,811 |
|||
Product warranties |
294 |
329 |
|||||
Operating lease liabilities, current portion |
246 |
204 |
|||||
Deferred revenue, current portion |
|
550 |
|
541 |
|||
Total current Liabilities |
6,725 |
|
5,885 |
||||
Operating lease liabilities, net of current portion |
408 |
398 |
|||||
Deferred revenue, net of current portion |
|
43 |
|
55 |
|||
Total liabilities |
|
7,176 |
|
6,338 |
|||
Commitments and contingencies |
|
||||||
Stockholders’ equity |
|||||||
Preferred stock, 5,000,000 shares authorized and none issued and outstanding |
- |
- |
|||||
Common stock, |
169 |
169 |
|||||
Additional paid-in capital |
45,874 |
45,795 |
|||||
|
(3,871) |
(3,571) |
|||||
Retained earnings |
|
10,862 |
|
13,434 |
|||
Total stockholders’ equity |
|
53,034 |
|
55,827 |
|||
Total liabilities and stockholders’ equity |
$ |
60,210 |
$ |
62,165 |
|||
|
||||||||
(unaudited) |
||||||||
For the Three Months Ended
|
||||||||
(in thousands, except share and per share data) |
|
2025 |
|
|
2024 |
|||
|
|
|||||||
Revenues |
$ |
8,344 |
|
$ |
10,663 |
|||
Cost of sales |
|
3,990 |
|
|
|
4,001 |
||
Gross profit |
|
4,354 |
|
|
|
6,662 |
||
Operating expenses: |
|
|
||||||
General and administrative |
|
2,208 |
|
|
1,579 |
|||
Selling and marketing |
|
2,186 |
|
|
1,270 |
|||
Research and development |
|
2,606 |
|
|
|
926 |
||
Total operating expenses |
|
7,000 |
|
|
|
3,775 |
||
Income (loss) from operations |
|
(2,646 |
) |
|
|
2,887 |
||
Other income: |
|
|
||||||
Interest income, net |
|
184 |
|
|
214 |
|||
Other income, net |
|
184 |
|
|
|
214 |
||
Income (loss) before income tax |
|
(2,462 |
) |
|
|
3,101 |
||
Provision for income tax |
|
110 |
|
|
|
827 |
||
Net Income (loss) |
$ |
(2,572 |
) |
$ |
2,274 |
|||
Net income (loss) per share – basic |
$ |
(0.16 |
) |
$ |
0.14 |
|||
– diluted |
$ |
(0.16 |
) |
$ |
0.14 |
|||
Weighted average number of shares used in computing net income (loss) per share – basic |
|
16,341,867 |
|
|
16,294,970 |
|||
– diluted |
|
16,341,867 |
|
|
16,318,047 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250515467478/en/
Alliance Advisors IR
tpatel@allianceadvisors.com
212-201-6614
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