Business
Sensus Healthcare Reports Second Quarter 2023 Financial Results
Revenues increased 33% and system shipments increased 30%, both compared with the first quarter of 2023Achieved a milestone with the installation of 700
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Revenues increased 33% and system shipments increased 30%, both compared with the first quarter of 2023Achieved a milestone with the installation of 700 systems for a total of 708 Expects to ship at least 60 SRT units during 2023 and to return to profitability in the second half of the year Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for oncological and non-oncological conditions, announces financial results for the three and six months ended June 30, 2023. Highlights from the second quarter of 2023 and recent weeks include the following: Achieved revenues of $4.5 million, an increase of 33% from $3.4 million for the first quarter of 2023 and a decrease from $12.1 million in the prior-year quarter reflecting lower SRT unit salesShipped 13 SRT systems including four outside the U.S. and six SRT-100 Vision™ systems, an increase from 10 systems shipped during the first quarter of 2023 and a decrease from 33 systems shipped in the prior-year quarterSurpassed 700 total systems, with 708 sold worldwide.Narrowed the net loss to $0.4 million, or $0.02 per share, from a net loss of $1.9 million, or $0.12 per share, for the first quarter of 2023 and versus net income of $3.5 million, or $0.21 per diluted share, for the prior-year quarterEnded the quarter with $20.1 million in cash and cash equivalents, and no debtSold the first SRT System in Ireland, to Dublin’s Beacon HospitalEngaged MIS Healthcare to distribute SRT systems in the United Kingdom and IrelandAnticipates profitability for the second half of the year based on a growing number of prospects Management Commentary “Many of our customers depend on elective aesthetic procedures as a meaningful source of practice revenue and profit, and we are hearing encouraging feedback that patient volumes and procedure mix are improving. Our second quarter financial results reflect that dynamic and strengthened considerably compared with the first quarter,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “We expect to return to profitability in the second half of the year as these trends continue. In preparation, we continued to build inventory ...