Sensus Healthcare Reports First Quarter 2026 Financial Results and Business Highlights
Key Terms
cpt codes regulatory
adjusted ebitda financial
non-gaap financial
Dedicated CPT Codes for Superficial Radiotherapy (SRT) Now Effective, Driving Increased Customer Activity, Customer Diversification and Improved Physician Economics
Sales Pipeline and Financing Activity Strengthen Following Reimbursement Clarity
Expansion of Installed Base and Recurring Revenue Growth Driving Advancement Towards Profitability
Exited the Quarter with
Highlights included:
-
Revenue of
$3.4 million $8.3 million -
Excluding sales to the Company’s historically largest customer, revenue increased from
$2.7 million
-
Excluding sales to the Company’s historically largest customer, revenue increased from
-
Shipped 14 SRT systems (10 direct sales and 4 placements under Fair Deal Agreement program and rental arrangements) compared to 30 systems shipped in the prior-year period (21 direct sales and 9 Fair Deal Agreement program placements).
- None of the quarter’s direct sales were to the Company’s historically largest customer, compared to 15 in the prior-year period.
-
Dedicated CPT Codes for SRT and IG-SRT, effective January 1, 2026, provide reimbursement certainty for the treatment of non-melanoma skin cancer.
- Company experienced increased inquiry levels, stronger pipeline activity, and greater customer engagement from dermatology practices and hospitals following implementation of new CPT Codes.
-
Continued expansion of the Fair Deal Agreement program, with treatment volumes increasing
8% over the first quarter of 2025.- 18 active sites and 9 sites pending activation as of March 31, 2026.
- Launched Sensus Healthcare Financial Services to further support customer acquisition and financing flexibility.
- Introduced Sensus Link, providing advanced operating capabilities to the SRT-100™ installed base.
-
Ended the quarter with
$18.3 million
Management Commentary
“During the first quarter, we began our efforts in educating and training our existing customer base as well as our many new prospects. We are seeing the benefits of the dedicated CPT Codes for superficial radiotherapy move from concept to commercial reality,” said Joseph Sardano, Chairman and Chief Executive Officer of Sensus Healthcare. “With these codes now in effect, physicians have greater reimbursement visibility and substantially improved economics to offer SRT and IG-SRT for the treatment of non-melanoma skin cancer, including an approximately
“We also continued to grow our customer base through expansion of our Fair Deal Agreement program, the launch of Sensus Healthcare Financial Services, and increased interest among independent practices, group networks, and hospitals that historically had not adopted SRT. In addition, the introduction of Sensus Link represents an important step in our strategy to expand higher-margin recurring revenue streams by bringing enhanced workflow, treatment documentation and operating intelligence capabilities to our installed base.
“As we enter this new reimbursement environment, we are focused on five priorities for 2026: education and training, accelerating customer adoption, expanding recurring revenue, broadening our commercial reach, and driving Sensus toward profitability,” concluded Sardano.
First Quarter 2026 Financial Results
Revenues were
Excluding sales to the Company’s historically largest customer for the three months ended March 31, 2025, revenue increased compared to
Cost of sales was
Gross profit was
General and administrative expense was
Selling and marketing expense was
Research and development expense was
Adjusted EBITDA for the first quarter of 2026 was negative
Other income of
Net loss was
Cash and cash equivalents were
Conference Call and Webcast
Sensus Healthcare will host an investment community conference call today beginning at 4:30 p.m. Eastern time during which management will discuss these financial results, provide a business update and answer questions.
Participants are encouraged to pre-register for the conference call using this link to receive a unique dial-in number to bypass the live operator. Participants may pre-register at any time, including up to and after the call start time. Those unable to pre-register can access the conference call by dialing 844-481-2811 (
The call will be webcast live and can be accessed at this link or in the Investor Relations section of the Company’s website at www.sensushealthcare.com.
Use of Non-GAAP Financial Information
This press release contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in
(unaudited) |
||||||||
For the Three Months Ended |
||||||||
March 31, |
||||||||
(in thousands) |
2026 |
|
2025 |
|||||
Net loss, as reported |
$ | (2,626 |
) |
$ | (2,572 |
) |
||
Add: |
||||||||
Depreciation |
96 |
|
86 |
|
||||
Stock compensation expense |
70 |
|
79 |
|
||||
Income tax (benefit) expense |
(1,607 |
) |
110 |
|
||||
Interest income, net |
(125 |
) |
(184 |
) |
||||
Adjusted EBITDA, non-GAAP |
$ |
(4,192 |
) |
$ |
(2,481 |
) |
||
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 and IG-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 Healthcare, Inc., 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. 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. 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: 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; concentration of our customers in the
To date, the geopolitical uncertainties other than those relating to
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 the introductory note regarding forward-looking statements and the factors described in the “Risk Factors” section included in our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.
| SENSUS HEALTHCARE, INC. | ||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
For the Three Months Ended |
||||||||
March 31, |
||||||||
| (in thousands, except share and per share data) | 2026 |
|
2025 |
|||||
| (unaudited) | (unaudited) | |||||||
| Revenues | $ |
3,394 |
|
$ |
8,344 |
|
||
| Cost of sales |
|
2,403 |
|
|
3,990 |
|
||
| Gross profit |
|
991 |
|
|
4,354 |
|
||
| Operating expenses: | ||||||||
| General and administrative |
|
2,043 |
|
|
2,208 |
|
||
| Selling and marketing |
|
1,716 |
|
|
2,186 |
|
||
| Research and development |
|
1,590 |
|
|
2,606 |
|
||
| Total operating expenses |
|
5,349 |
|
|
7,000 |
|
||
| Loss from operations |
|
(4,358 |
) |
|
(2,646 |
) |
||
| Other income: | ||||||||
| Interest income, net |
|
125 |
|
|
184 |
|
||
| Other income, net |
|
125 |
|
|
184 |
|
||
| Loss before income tax |
|
(4,233 |
) |
|
(2,462 |
) |
||
| (Benefit from) provision for income taxes |
|
(1,607 |
) |
|
110 |
|
||
| Net loss | $ |
(2,626 |
) |
$ |
(2,572 |
) |
||
| Net loss per share – basic | $ |
(0.16 |
) |
$ |
(0.16 |
) |
||
| diluted | $ |
(0.16 |
) |
$ |
(0.16 |
) |
||
| Weighted average number of shares used in computing net loss per share – basic |
|
16,462,653 |
|
|
16,341,867 |
|
||
diluted |
|
16,462,653 |
|
|
16,341,867 |
|
||
| SENSUS HEALTHCARE, INC. | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
As of March 31, |
|
As of December 31, |
||||||
| (in thousands, except shares and per share data) | 2026 |
|
2025 |
|||||
| (unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ |
18,327 |
|
$ |
22,083 |
|
||
| Accounts receivable, net |
|
3,578 |
|
|
6,041 |
|
||
| Inventories |
|
16,500 |
|
|
14,563 |
|
||
| Prepaid inventory |
|
2,478 |
|
|
1,522 |
|
||
| Other current assets |
|
1,707 |
|
|
1,683 |
|
||
| Total current assets |
|
42,590 |
|
|
45,892 |
|
||
| Property and equipment, net |
|
2,314 |
|
|
1,976 |
|
||
| Deferred tax asset |
|
5,686 |
|
|
4,079 |
|
||
| Operating lease right-of-use assets, net |
|
390 |
|
|
452 |
|
||
| Other noncurrent assets |
|
566 |
|
|
640 |
|
||
| Total assets | $ |
51,546 |
|
$ |
53,039 |
|
||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ |
4,692 |
|
$ |
3,343 |
|
||
| Product warranties |
|
262 |
|
|
275 |
|
||
| Operating lease liabilities, current portion |
|
267 |
|
|
262 |
|
||
| Deferred revenue, current portion |
|
639 |
|
|
842 |
|
||
| Total current Liabilities |
|
5,860 |
|
|
4,722 |
|
||
| Operating lease liabilities, net of current portion |
|
140 |
|
|
209 |
|
||
| Deferred revenue, net of current portion |
|
4 |
|
|
10 |
|
||
| Total liabilities |
|
6,004 |
|
|
4,941 |
|
||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock, 5,000,000 shares authorized and none issued and outstanding |
|
- |
|
|
- |
|
||
| Common stock, |
|
169 |
|
|
169 |
|
||
| Additional paid-in capital |
|
46,160 |
|
|
46,090 |
|
||
| Treasury stock, 593,036 shares at cost, at March 31, 2026 and December 31, 2025 |
|
(3,876 |
) |
|
(3,876 |
) |
||
| Retained earnings |
|
3,089 |
|
|
5,715 |
|
||
| Total stockholders’ equity |
|
45,542 |
|
|
48,098 |
|
||
| Total liabilities and stockholders’ equity | $ |
51,546 |
|
$ |
53,039 |
|
||
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Investor Relations Contact
Leigh Salvo
New Street Investor Relations
leigh@newstreetir.com
Source: Sensus Healthcare, Inc.