Sensus Healthcare Inc
NASDAQ:SRTS
Sensus Healthcare Inc
Sensus Healthcare, Inc. operates as a medical device company, which provides treatments for both oncological and non-oncological skin conditions. The company is headquartered in Boca Raton, Florida and currently employs 37 full-time employees. The company went IPO on 2016-06-03. The firm is focused on providing non-invasive treatments for both oncological and non-oncological skin conditions. The firm uses a low-energy X-ray technology known as superficial radiation therapy (SRT). The firm incorporated SRT into its portfolio of treatment devices: the SRT-100, SRT-100 Plus and SRT-100 Vision. SRT-100, is 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 and other skin conditions such as keloids. The SRT-100 Vision 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. Its SRT-100 Plus offers remote diagnostics solutions, including operation tracking.
Sensus Healthcare, Inc. operates as a medical device company, which provides treatments for both oncological and non-oncological skin conditions. The company is headquartered in Boca Raton, Florida and currently employs 37 full-time employees. The company went IPO on 2016-06-03. The firm is focused on providing non-invasive treatments for both oncological and non-oncological skin conditions. The firm uses a low-energy X-ray technology known as superficial radiation therapy (SRT). The firm incorporated SRT into its portfolio of treatment devices: the SRT-100, SRT-100 Plus and SRT-100 Vision. SRT-100, is 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 and other skin conditions such as keloids. The SRT-100 Vision 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. Its SRT-100 Plus offers remote diagnostics solutions, including operation tracking.
Revenue Decline: Q3 revenue fell to $6.9 million from $8.8 million last year, mainly due to selling fewer units to a large customer.
CMS Coding Win: New CMS CPT codes for SRT will increase reimbursement per treatment fraction by over 300%, bringing strong validation and reimbursement certainty for Sensus' technology.
Utilization Growth: Treatment volumes in the Fair Deal Agreement program rose 20% over Q2, and are up 152% year-to-date, with management expecting these trends to continue.
Gross Margin Compression: Q3 gross margin dropped to 39.1% from 59.1% last year due to lower sales and higher service and program costs.
Net Loss: The company posted a net loss of $0.9 million versus net income of $1.2 million in Q3 last year.
Strong Cash Position: Sensus ended Q3 with $24.5 million in cash and no debt, up from about $22 million at the end of 2024.
Pent-Up Demand: Management sees significant pent-up demand due to prior reimbursement uncertainty and expects increased system placements as new codes go into effect in January.
