Business
Sensus Healthcare Reports Third Quarter 2020 Financial Results
Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Conference call begins at 4:30 p.m. Eastern time today\nBOCA RATON, Fla., Nov. 05, 2020 (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 nine months ended September 30, 2020.\n Highlights from the third quarter of 2020 and recent weeks include (all comparisons are with the third quarter of 2019, unless otherwise indicated): Appointed Megan Cornish, with deep experience navigating Capitol Hill, to the Board of Directors effective January 1, 2021Significantly expanded the Company’s market opportunity with the acquisition of two mobile laser companies operating throughout the State of FloridaSold two SRT-100™ systems to China following the appointment of Benson Suen as Vice President of International SalesRevenues were $1.6 million, compared with $5.8 million and up sequentially from $1.2 million in the second quarter of 2020Net loss was $(1.7) million, or $(0.10) per share, compared with net loss of $(0.7) million, or $(0.04) per shareAnnounced publication in the Journal of Clinical and Aesthetic Dermatology of a retrospective study showing keloidectomy followed by superficial radiation therapy (SRT) had an approximate 10% recurrence rate, compared with an expected recurrence rate of more than 80% following surgical excision aloneMaintained customer support during the COVID-19 pandemic via frequent direct outreach and a series of online programs highlighting the benefits of SRT to treat non-melanoma skin cancerBegan generating recurring revenues via the Sentinel™ IT Solutions packageCash, cash equivalents and investments were $16.1 million as of September 30, 2020, compared with $15.5 million as of December 31, 2019 due to expense reductions and cash provided from operating activities Management Commentary “Our revenues improved sequentially during the third quarter, although our business continues to be significantly impacted by the COVID-19 pandemic,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “While our physician customers are focused on rebuilding patient traffic, we have used the past months wisely to lay the foundation for what we believe will be a profitable 2021. We ...