Sensus Healthcare Announces Preliminary 2023 Revenue Exceeds $23 Million
- Sensus Healthcare expects to exceed $23 million in revenue for the full year of 2023
- The company achieved its guidance to ship more than 60 SRT systems during 2023
- Strong uptick in business during the fourth quarter of 2023
- None.
Insights
Examining the preliminary financial results of Sensus Healthcare, the reported expected revenue for Q4 2023 and the full year provides a positive signal to the market. The ability to achieve and even surpass the shipping target of 60 SRT units is indicative of effective operational management and robust demand for their products. The emphasis on the increase in utilization of superficial radiotherapy (SRT) due to factors such as favorable reimbursement, an aging population and competitive clinical results suggests a strong market position and potential for growth in the oncological treatment sector.
However, it is crucial to monitor how the company's performance aligns with broader industry trends. For instance, the medical device sector often faces regulatory challenges and rapid technological advancements. The ability of Sensus Healthcare to maintain its competitive edge through innovation and adherence to regulatory standards will be key to its long-term success. Furthermore, the impact of macroeconomic factors, such as inflation and interest rates, which have affected customers in the past, should be considered when evaluating the company's future prospects.
The projected revenues exceeding $23 million for the full year represent a critical financial benchmark for Sensus Healthcare. Investors will be keen to assess how these figures translate into profitability, taking into account the company's cost structures, R&D expenditures and marketing costs associated with attending and presenting at major trade shows. It will be important to analyze the subsequent financial statements for details on profit margins, earnings per share and cash flow positions to better understand the company's financial health.
Additionally, the stock market reaction to the announcement of the financial results will be telling. If the revenues and shipping targets meet or exceed market expectations, there could be a positive impact on the company's stock price. Conversely, if the final audited results differ significantly from the preliminary figures, investor confidence could be affected. Tracking the stock's performance post-announcement will provide insight into market sentiment regarding Sensus Healthcare's operational and financial strategies.
From a clinical perspective, the comparison of SRT to Mohs surgery is significant. Mohs surgery is a highly effective treatment for non-melanoma skin cancer and SRT providing competitive results could influence treatment protocols. With an aging population and increased incidence of skin cancer, the demand for effective and minimally invasive treatments is likely to rise. The mention of favorable reimbursement is also a critical factor, as it suggests that insurance providers recognize the value of SRT, which could lead to increased adoption rates among healthcare providers.
It is essential to consider the long-term clinical data and ongoing studies related to the efficacy and safety of SRT. As more data becomes available, it could further solidify the position of SRT in treatment guidelines, potentially leading to increased market share for Sensus Healthcare. The upcoming trade shows will also serve as platforms for the company to present data, engage with medical professionals and potentially secure new business deals, which could have a direct impact on future revenue streams.
Ships more than 60 SRT units in 2023
To report full financial results and hold conference call on February 8th
BOCA RATON, Fla. , Jan. 23, 2024 (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, today announces preliminary unaudited financial results for the three and 12 months ended December 31, 2023.
The company expects to report revenue for the fourth quarter of 2023 of more than
“We are delighted to report a strong uptick in our business during the fourth quarter and to achieve our guidance to ship more than 60 SRT systems during 2023,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “Our customers were impacted by inflation and, to a lesser extent, interest rates during the first three quarters of 2023. Yet as anticipated, they adjusted to the economic environment as the year progressed. Further, utilization of superficial radiotherapy to treat non-melanoma skin cancer continued to increase, driven by favorable reimbursement, an aging population and clinical results that are as good, if not better than, Mohs surgery.”
Mr. Sardano added, “We expect heightened interest from prospective customers at three important trade shows during the first quarter of 2024, namely the Winter Clinical and the South Beach Symposium in February and the American Academy of Dermatology annual meeting in March. Sensus will have a strong presence at these conferences and will be demonstrating our SRT systems and other products and services.”
Sensus Healthcare plans to announce 2023 fourth quarter and full-year financial results and hold an investment community conference call after the close of the U.S. stock markets on February 8, 2024. Conference call details including participation instructions will be provided at a later date.
About Sensus Healthcare
Sensus Healthcare, Inc. is a global pioneer in the development and delivery of non-invasive treatments for skin cancer and keloids. Leveraging its cutting-edge superficial radiotherapy (SRT) technology, the company provides healthcare providers with a highly effective, patient-centric treatment platform. With a dedication to driving innovation in radiation oncology, Sensus Healthcare offers solutions that are safe, precise, and adaptable to a variety of clinical settings. For more information, please visit www.sensushealthcare.com.
Forward-Looking Statements
This press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases, these statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," “approximately,” "potential" or negative or other variations of those terms or comparable terminology, although not all forward-looking statements contain these words.
Forward-looking statements involve risks and uncertainties because they relate to events, developments, and circumstances relating to Sensus, our industry, and/or general economic or other conditions that may or may not occur in the future or may occur on longer or shorter timelines or to a greater or lesser degree than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward looking statements contained in this press release, as a result of the following factors, among others: our ability to return to profitability; our ability to sell the number of SRT units we anticipate for the balance of 2023; the possibility that inflationary pressures continue to impact our sales; the level and availability of government and/or third party payor reimbursement for clinical procedures using our products, and the willingness of healthcare providers to purchase our products if the level of reimbursement declines; the regulatory requirements applicable to us and our competitors; our ability to efficiently manage our manufacturing processes and costs; the risks arising from doing business in China and other foreign countries; legislation, regulation, or other governmental action that affects our products, taxes, international trade regulation, or other aspects of our business; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; our ability to obtain and maintain the intellectual property needed to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
To date, we do not expect that the Russian invasion of Ukraine and global geopolitical uncertainty have had any particular impact on our business, but we continue to monitor developments and will address them in future disclosures, if applicable.
In addition, even if future events, developments, and circumstances are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Any forward-looking statements that we make in this press release speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect events or circumstances after the date of this press release, except as may be required by applicable law. You should read carefully our "Introductory Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.
Contact:
LHA Investor Relations
Kim Sutton Golodetz
212-838-3777
kgolodetz@lhai.com
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