Sensus Healthcare, Inc., a medical device company specializes in non-invasive, minimally-invasive, and cost-effective treatments for skin conditions, recently issued a revised press release replacing the one released on November 14, 2024. The revised press release announced the financial results for the second quarter of 2024 with non-financial changes. The press release highlighted a significant increase in revenues for the third quarter of 2024 compared to the same period in 2023.
According to the company’s 8-K filing on November 17, 2024, Sensus Healthcare reported third-quarter 2024 revenues of $8.8 million, a substantial increase from $3.9 million in the prior-year quarter. Adjusted EBITDA stood at $1.6 million compared to a negative $1.7 million a year ago. The company expects to have over 50 IG-SRT Systems signed under the Fair Deal Agreement recurring-revenue program by the end of the year.
Sensus Healthcare reported the exit of the quarter with $22.6 million in cash and cash equivalents and no debt. It also announced the sale of an SRT system to the radiation oncology department of Providence Swedish Hospital in Seattle. The company highlighted its participation in the American Society for Radiation Oncology annual meeting, showcasing the growing interest in non-melanoma skin cancer treatment.
Management at Sensus Healthcare expressed their satisfaction with the revenue and earnings growth, attributing it to customer engagement and new sales options. They also mentioned surpassing their target of having up to 50 Fair Deal Agreements signed by the end of 2024, anticipating recurring revenue from the IG-SRT systems in 2025.
Sensus Healthcare noted a significant increase in revenues and profitability for the third quarter of 2024, a trend that continued from the previous quarter. The company’s balance sheet showed cash and cash equivalents at $22.6 million as of September 30, 2024, compared to $23.1 million at the end of 2023.
The company highlighted the use of non-GAAP financial measures, particularly Adjusted EBITDA, to provide additional insight into its performance. Sensus Healthcare’s commitment to innovation in the radiation oncology field was evident throughout the filing, emphasizing its dedication to providing safe, precise, and adaptable solutions for patients and healthcare providers.
For further details on the financial results and operational insights of Sensus Healthcare, interested parties can refer to the full 8-K filing dated November 17, 2024.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sensus Healthcare’s 8K filing here.
About Sensus Healthcare
Sensus Healthcare, Inc, a medical device company, manufactures and sells radiation therapy devices to healthcare providers worldwide. The company uses superficial radiation therapy, a low-energy X-ray technology in its portfolio of treatment devices. It offers SRT-100, a photon X-ray low energy superficial radiotherapy system that provides patients an alternative to surgery for treating non-melanoma skin cancers, including basal cell and squamous cell skin cancers, as well as other skin conditions, such as keloids; and SRT-100 Vision, which provides the user with a superficial radiation therapy-tailored treatment planning application that integrates an embedded high frequency ultrasound imaging module, volumetric tumor analysis, beam margins planning, and dosimetry parameters.
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