Sensus Healthcare reports Q1 EPS 14c, two estimates (5c)

Reports Q1 revenue $10.7M, two estimates $4.1M. CEO Joe Sardano says: “Our first quarter financial results were strong as we more than tripled revenues compared with the 2023 quarter and achieved a substantial profit, reversing last year’s net loss as customers adjust to macroeconomic conditions. This performance reflects continued business momentum as customers recognize the importance to their patients of SRT, a non-invasive and highly efficacious modality to treat non-melanoma skin cancer, while benefitting from a choice in sales options, including our new Fair Deal Agreement to complement our proven fair market value lease program. We showcased our Fair Deal Agreement program at three important trade conferences during the quarter, including the Winter Clinical and South Beach Symposium, and the American Academy of Dermatology Annual Meeting. We enjoyed excellent booth traffic at all three events. The Fair Deal Agreement is a recurring revenue program that addresses the customer’s need to use capital in other areas of growing their business, and facilitates what we believe is a compelling economic model. This new offering continues to gain traction with more and more interest each and every day. Under this program, the more patients treated with SRT-100 Vision, the more revenue to the practice. It’s that simple. The Fair Deal Agreement includes the work of CureRays to provide oversight to facilitate the utmost efficiency and effectiveness of the dermatology practice. In addition to launching the Fair Deal Agreement, at these trade shows we also showcased the state-of-the-art capabilities embedded in the SRT-100 Vision. These include our newly patented proprietary technology covering 33 individual claims. The patent describes technology that’s essentially a treatment-planning system made possible by fusing a radiation therapy device with high-frequency ultrasound, permitting seamless operation with the Fair Deal Agreement program. Between interest in the new technology and our new sales offering, we have assembled a significant pipeline of potential customers, so much so that we built further inventory to satisfy anticipated demand. That said, we highly value our existing customers and continue to work with them to expand SRT to additional clinics nationwide. Our goal is to make SRT the standard of care for treating non-melanoma skin cancer and keloids. We believe we have barely penetrated this market and see plenty of room for growth, both in the U.S. and around the world, as evidenced by recent progress in Taiwan.”