Business
Sensus Healthcare Reports Second Quarter 2024 Financial Results With Revenues More than Doubling Versus 2023 Second Quarter
Revenues of $9.2 million compares with $4.5 million in the prior-year quarter, adjusted EBITDA (a non-GAAP measure) of $2.1 million compares with negative
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Revenues of $9.2 million compares with $4.5 million in the prior-year quarter, adjusted EBITDA (a non-GAAP measure) of $2.1 million compares with negative $1.0 million a year ago“Fair Deal Agreement” recurring revenue program gaining momentum with 15 agreements signed to date Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Aug. 08, 2024 (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 skin conditions, announces financial results for the three and six months ended June 30, 2024. Highlights from the second quarter of 2024 and recent weeks include the following: Revenues increased 104% over the comparable 2023 quarter to $9.2 million, reflecting higher superficial radiotherapy (SRT and IG-SRT) unit salesShipped 23 systems including three SRT-100 units to Asia, compared with 13 systems in the 2023 quarterEntered into “Fair Deal Agreements” for 15 SRT-100 Vision (IG-SRT) units since the program’s introduction in March Net income was $1.6 million, or $0.10 per diluted share, compared with a net loss of $0.4 million, or $0.02 per share, for the 2023 quarterEnded the quarter with $19.0 million in cash and cash equivalents, and no debtAccounts receivable as of June 30, 2024 was $18.3 million, compared with $10.6 million as of December 31, 2023Continued to build inventory to prepare for anticipated customer demand Management Commentary “Our sales momentum continued in the second quarter of 2024 with very strong revenue growth over the 2023 second quarter, along with positive net income and positive Adjusted EBITDA,” said Joe Sardano, Chairman and Chief Executive Officer of Sensus Healthcare. “Our Fair Deal Agreement is off to a strong start with 15 agreements signed since our launch at the American Academy of Dermatology meeting in March. We expect to be generating recurring revenue from these SRT-100 Vision (IG-SRT) systems in 2025. This program addresses customer needs to deploy capital to other areas of their business, especially during challenging macroeconomic conditions. Given the growing utilization of SRT to treat non-melanoma skin cancer and keloids, and the interest we have generated to date, we expect this model to contribute to our grow...