Business
Sensus Healthcare Reports Third Quarter 2021 Financial Results
Achieves profitability on revenues of $5.5 million, up sharply from $1.6 million a year ago Affirms expectations for continued growth in 4Q and full-year
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Achieves profitability on revenues of $5.5 million, up sharply from $1.6 million a year ago Affirms expectations for continued growth in 4Q and full-year profitability Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Nov. 04, 2021 (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, 2021. Highlights from the third quarter of 2021 and recent weeks include the following (all comparisons are with the third quarter of 2020, unless otherwise indicated): Revenues were $5.5 million, up 244%Net income was $0.2 million, or $0.01 per diluted share, compared with a net loss of $(1.7) million, or $(0.10) per shareAdjusted EBITDA, a non-GAAP financial measure, was a positive $0.5 million, compared with a negative $(1.5) millionShipped 14 systems including eight SRT-100 Vision systems, and one SRT-100 system shipped to ChinaAffirms expectations for fourth quarter and full year 2021 profitabilityReceived a five-year license renewal for the SRT-100™ from the Chinese Health Authority Management Commentary “The third quarter and subsequent weeks featured several encouraging events that bode well for continued sales growth, not only in the fourth quarter but through 2022,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “We reported our first profitable third quarter in our company’s history, and based on a robust backlog of orders we believe Sensus will report positive net income for 2021. “Our domestic business is significantly improved compared with the pandemic-impacted third quarter of 2020, with 14 systems shipped including eight premium SRT-100 Vision™ systems. We are highly encouraged by the reception our new fair-market-leasing program has received to date. Our physician customers are beginning to take advantage of this offering and its ability to provide a positive ROI for the SRT-100 Vision by treating just two patients per month. In addition, our organization has done an excellent job in articulating the improved CMS reimbursement rates that went into effect at the start of the year, along with the benefits of SRT to a growing number...