Sensus Healthcare Reports Second Quarter 2026 Financial Results and Business Highlights
Key Terms
cpt code regulatory
adjusted ebitda financial
valuation allowance financial
superficial radiotherapy medical
Commercial Momentum Builds Following CPT Code Implementation
Revenue Recognition on Eight Purchased Units Shifted to Q3 Due to Financing Approval Timing
CMS Proposed
Customer Adoption, Pipeline Development and Commercial Expansion Advanced Across
Company Remains Focused on Delivering Strong Second Half Performance
Highlights included:
-
Revenues of
$2.3 million $5.0 million - Customer adoption accelerated through expanding engagement with independent practices, larger physician groups, and health systems.
- Sales pipeline strengthened following CPT code implementation, supported by increasing physician education, inbound customer inquiries and commercial activity.
-
CMS proposed a
26% increase in the hospital-based SRT delivery code, which, if finalized, would further improve provider economics and support expanded adoption of SRT across hospital and health system settings. -
International commercial activity expanded across key
Asia-Pacific markets, includingAustralia and New Zealand , supporting future growth opportunities. -
Active website users increased
153% year-over-year. - Company remains committed to delivering strong performance during the second half of 2026.
Management Commentary
"While our reported second quarter revenue was impacted by the timing of financing approvals for eight units, our commercial execution remained strong throughout the quarter. Those units have since been sold and related revenue will be recognized in Q3. The delayed financing approval affected the timing of revenue recognition, not customer demand or commercial execution," said Joseph Sardano, Chairman and Chief Executive Officer.
"Importantly, we are seeing the benefits of the dedicated CPT codes reflected in growing physician engagement, expanding customer interest, and a strengthening sales pipeline. During the quarter, we broadened relationships with larger physician groups, increased utilization under our Fair Deal Agreement program, and advanced our commercial initiatives in both the
"We entered the third quarter with a healthy pipeline, growing customer engagement, and increasing commercial activity across both our domestic and international markets. We remain encouraged by the momentum we are seeing across the business and focused on executing against our five strategic priorities for 2026 - education and training, accelerating customer adoption, expanding recurring revenue, broadening our commercial reach, and driving Sensus toward profitability,” concluded Sardano.
Second Quarter 2026 Financial Results
Revenues were
Cost of sales was
Gross profit was
General and administrative expense was
Selling and marketing expense was
Research and development expense was
Other income of
The tax expense for the second quarter of 2026 includes a
Net loss was
Adjusted EBITDA for the second quarter of 2026 was negative
Cash, restricted 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
GAAP TO NON-GAAP RECONCILIATION |
||||||||||||||||
(unaudited) |
||||||||||||||||
For the Three Months Ended |
|
For the Six Months Ended |
||||||||||||||
June 30, |
|
June 30, |
||||||||||||||
(in thousands) |
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
Net loss, as reported |
$ |
(8,749 |
) |
$ |
(1,037 |
) |
$ |
(11,375 |
) |
$ |
(3,609 |
) |
||||
Add: |
||||||||||||||||
Depreciation |
|
86 |
|
|
99 |
|
|
182 |
|
|
185 |
|
||||
Stock compensation expense |
|
70 |
|
|
67 |
|
|
140 |
|
|
146 |
|
||||
Income tax expense (benefit) |
|
5,686 |
|
|
(723 |
) |
|
4,079 |
|
|
(613 |
) |
||||
Interest income, net |
|
(117 |
) |
|
(183 |
) |
|
(241 |
) |
|
(367 |
) |
||||
Adjusted EBITDA, non GAAP |
$ |
(3,024 |
) |
$ |
(1,777 |
) |
$ |
(7,215 |
) |
$ |
(4,258 |
) |
||||
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,” or “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 U.S. and China, including the concentration of sales to one particular customer in the U.S.; the development by others of new products, treatments, or technologies that render our technology partially or wholly obsolete; 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, including ongoing geopolitical tensions between the U.S. and China; legislation, regulation, or other governmental action that affects our products, taxes, international trade regulation (including the possibility of tariffs and fluctuations in tariffs on equipment we export or materials we import), or other aspects of our business; the performance of the Company’s information technology systems and its ability to maintain data security; the possibility that inflationary pressures continue to impact our sales; 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.
To date, geopolitical uncertainties have not had any significant impact on our business, but we continue to monitor developments and will address them in future disclosures, if applicable.
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 this press release is issued, except as may be required by applicable law.
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||
For the Three Months Ended |
|
For the Six Months Ended |
||||||||||||||
June 30, |
|
June 30, |
||||||||||||||
| (in thousands, except share and per share data) |
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
||||||||||
| Revenues | $ |
2,290 |
|
|
$ |
7,315 |
|
|
$ |
5,684 |
|
|
$ |
15,659 |
|
|
| Cost of sales |
|
1,521 |
|
|
|
4,412 |
|
|
|
3,924 |
|
|
|
8,403 |
|
|
| Gross profit |
|
769 |
|
|
|
2,903 |
|
|
|
1,760 |
|
|
|
7,256 |
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|||||||||
| General and administrative |
|
1,786 |
|
|
|
1,986 |
|
|
|
3,827 |
|
|
|
4,193 |
|
|
| Selling and marketing |
|
1,054 |
|
|
|
1,389 |
|
|
|
2,771 |
|
|
|
3,575 |
|
|
| Research and development |
|
1,109 |
|
|
|
1,471 |
|
|
|
2,699 |
|
|
|
4,077 |
|
|
| Total operating expenses |
|
3,949 |
|
|
|
4,846 |
|
|
|
9,297 |
|
|
|
11,845 |
|
|
| Loss from operations |
|
(3,180 |
) |
|
|
(1,943 |
) |
|
|
(7,537 |
) |
|
|
(4,589 |
) |
|
| Other income: |
|
|
|
|
|
|
|
|||||||||
| Interest income, net |
|
117 |
|
|
|
183 |
|
|
|
241 |
|
|
|
367 |
|
|
| Other income, net |
|
117 |
|
|
|
183 |
|
|
|
241 |
|
|
|
367 |
|
|
| Loss before income tax |
|
(3,063 |
) |
|
|
(1,760 |
) |
|
|
(7,296 |
) |
|
|
(4,222 |
) |
|
| Provision for (benefit from) income taxes |
|
5,686 |
|
|
|
(723 |
) |
|
|
4,079 |
|
|
|
(613 |
) |
|
| Net loss | $ |
(8,749 |
) |
|
$ |
(1,037 |
) |
|
$ |
(11,375 |
) |
|
$ |
(3,609 |
) |
|
| Net loss per share – basic | $ |
(0.53 |
) |
|
$ |
(0.06 |
) |
|
$ |
(0.69 |
) |
|
$ |
(0.22 |
) |
|
| diluted | $ |
(0.53 |
) |
|
$ |
(0.06 |
) |
|
$ |
(0.69 |
) |
|
$ |
(0.22 |
) |
|
| Weighted average number of shares used in computing net loss per share – basic |
|
16,462,059 |
|
|
|
16,320,036 |
|
|
|
16,462,355 |
|
|
|
16,330,891 |
|
|
| diluted |
|
16,462,059 |
|
|
|
16,320,036 |
|
|
|
16,462,355 |
|
|
|
16,330,891 |
|
|
CONSOLIDATED BALANCE SHEETS
|
||||||||
As of June 30, |
|
As of December 31, |
||||||
| (in thousands, except shares and per share data) |
|
2026 |
|
|
|
2025 |
|
|
(unaudited) |
|
|
||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash, restricted cash and cash equivalents | $ |
15,186 |
|
|
$ |
22,083 |
|
|
| Accounts receivable, net |
|
1,680 |
|
|
|
6,041 |
|
|
| Inventories |
|
18,459 |
|
|
|
14,563 |
|
|
| Prepaid inventory |
|
607 |
|
|
|
1,522 |
|
|
| Other current assets |
|
1,745 |
|
|
|
1,683 |
|
|
| Total current assets |
|
37,677 |
|
|
|
45,892 |
|
|
| Property and equipment, net |
|
2,748 |
|
|
|
1,976 |
|
|
| Deferred tax asset |
|
- |
|
|
|
4,079 |
|
|
| Operating lease right-of-use assets, net |
|
329 |
|
|
|
452 |
|
|
| Other noncurrent assets |
|
505 |
|
|
|
640 |
|
|
| Total assets | $ |
41,259 |
|
|
$ |
53,039 |
|
|
| Liabilities and stockholders’ equity |
|
|
|
|||||
| Current liabilities |
|
|
|
|||||
| Accounts payable and accrued expenses | $ |
3,167 |
|
|
$ |
3,343 |
|
|
| Product warranties |
|
267 |
|
|
|
275 |
|
|
| Operating lease liabilities, current portion |
|
274 |
|
|
|
262 |
|
|
| Deferred revenue, current portion |
|
619 |
|
|
|
842 |
|
|
| Total current Liabilities |
|
4,327 |
|
|
|
4,722 |
|
|
| Operating lease liabilities, net of current portion |
|
69 |
|
|
|
209 |
|
|
| Deferred revenue, net of current portion |
|
- |
|
|
|
10 |
|
|
| Total liabilities |
|
4,396 |
|
|
|
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 |
|
46,230 |
|
|
|
46,090 |
|
|
| Treasury stock, 593,036 shares at cost, at June 30, 2026 and December 31, 2025 |
|
(3,876 |
) |
|
|
(3,876 |
) |
|
| (Accumulated deficit) retained earnings |
|
(5,660 |
) |
|
|
5,715 |
|
|
| Total stockholders’ equity |
|
36,863 |
|
|
|
48,098 |
|
|
| Total liabilities and stockholders’ equity | $ |
41,259 |
|
|
$ |
53,039 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260813917539/en/
Investor Relations Contact
Leigh Salvo
New Street Investor Relations
leigh@newstreetir.com
Source: Sensus Healthcare, Inc.