Full Press Release Details
Healthcare Reports Fourth Quarter 2025 Financial Results Highlighted by Publication of Dedicated CPT Codes for SRT to Treat Non-Melanoma
call begins at 4:30 p.m. Eastern time today
RATON, Fla. (February 12, 2026) - 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 skin conditions,
announces financial results for the three and twelve months ended December 31, 2025.
include the following:
the publication of Current Procedural Terminology (CPT) codes for treating non-melanoma skin cancer with SRT in November
- with a per-fraction increase of more than 300% versus prior delivery code - and despite a very tight
subsequent selling window in the midst of multiple holidays, we shipped 14 systems in Q4 without any contribution from our
historically largest customer, compared with six units in Q3 excluding shipments to that customer," said Joe Sardano,
Chairman and Chief Executive Officer of Sensus Healthcare. "With dedicated reimbursement codes now in place, a strong
balance sheet with no debt and significantly enhanced physician economics, we look forward to 2026 with greater business
control, predictability, and optimism."
utilization increased significantly in 2025, with treatments up more than eight-fold versus 2024 and the number of patients treated
up by more than 250%. In several cases, the new reimbursement rates served as catalysts for system purchases by FDA customers,"
he added. "International demand contributed meaningfully to the fourth quarter with shipments to China, and international
markets remain an important component of our growth strategy."
to the first quarter of 2026, based on our current pipeline and order activity we expect shipments to exceed fourth quarter 2025
levels without any contribution from our historically largest customer. More broadly, 2026 represents a new operating environment
for Sensus, one we intend to fully leverage including by hiring several new sales reps," Sardano continued. "With
attractive reimbursement, a more diversified customer base, new international opportunities and a continued commitment to tight
expense management, our objective is to achieve full-year profitability."
Quarter Financial Results
for the fourth quarter of 2025 were $4.9 million, compared with $13.1 million for the fourth quarter of 2024. The decrease was
primarily driven by a lower number of units sold, reflecting reduced sales to our largest customer, slightly offset by revenue
recognized from the new placements under the FDA program.
of sales for the fourth quarter of 2025 was $3.0 million, compared with $6.0 million in the prior-year quarter. The decrease was
primarily related to a lower number of units sold, offset by higher cost of service and costs associated with the new placements
under the FDA program.
profit for the fourth quarter of 2025 was $1.9 million, or 38.8% of revenues, compared with $7.1 million, or 54.2% of revenues,
for the fourth quarter of 2024. The decrease was primarily driven by lower sales, higher costs of servicing systems and the costs
associated with the new placement program.
and administrative expenses were $1.8 million for the fourth quarter of 2025, compared with $2.4 million in the prior-year quarter.
The decrease was primarily due to lower professional fees and compensation costs.
and marketing expenses were $1.4 million for the fourth quarter of 2025, remaining consistent with the prior-year quarter.
and development expenses were $1.9 million for the fourth quarter of 2025, compared with $1.6 million for the prior-year quarter.
The increase was primarily due to an increase in product development costs related to next-generation systems.
income, net of $0.2 million remained consistent with the prior-year quarter.
loss for the fourth quarter of 2025 was $3.2 million, or $0.19 per share, compared with net income of $1.5 million, or $0.09 per
diluted share, for the fourth quarter of 2024.
EBITDA for the fourth quarter of 2025 was negative $3.0 million, compared with $1.9 million for the fourth quarter of 2024. Adjusted
EBITDA, a non-GAAP financial measure, is defined as earnings before interest, taxes, depreciation, amortization and stock-compensation
expense. Please see below for a reconciliation between GAAP and non-GAAP financial measures, and the reason these non-GAAP financial
measures are provided.
and cash equivalents were $22.1 million as of December 31, 2025, unchanged from December 31, 2024. The Company had no outstanding
borrowings under its revolving line of credit at either year-end. Prepaid inventory was $1.5 million as of December 31, 2025,
compared with $3.3 million as of December 31, 2024. Inventories were $14.6 million as of December 31, 2025, compared with $10.1
million as of December 31, 2024.
Year Financial Results
for 2025 were $27.5 million, compared with $41.8 million in 2024. The decrease in revenue was primarily driven by a lower number
of units sold, reflecting reduced sales to our largest customer, slightly offset by revenue recognized from the new placements
under the FDA program.
of sales for 2025 was $15.6 million, compared with $17.4 million in 2024. The decrease was primarily related to a lower number
of units sold offset by significantly higher cost of service and costs associated with the new placements under the FDA program.
profit for 2025 was $11.9 million, or 43.3% of revenue, compared with $24.4 million, or 58.4% of revenue, in 2024. The decrease
was primarily driven by lower sales, higher costs of servicing systems and the cost associated with the new placement program.
and administrative expenses for 2025 were $7.9 million, compared with $7.1 million in 2024. The increase was primarily due to
higher professional fees, insurance costs and compensation costs.
and marketing expenses for 2025 were $6.5 million, compared with $5.0 million in 2024. The increase was primarily driven by higher
tradeshow costs and, payroll cost due to an increase in headcount.
and development expenses for 2025 were $7.8 million, compared with $4.2 million in 2024. The increase was primarily due to significant
lobbying costs related to billing code reimbursement, increased headcount and an increase in product development costs related
to next-generation systems.
income, net of $0.7 million and $0.9 million in the years ended December 31, 2025 and 2024, respectively, relates primarily to
loss for 2025 was $7.7 million, or $0.47 per share, compared with net income of $6.6 million, or $0.41 per diluted share, for
EBITDA for 2025 was negative $9.6 million, compared with $8.7 million for 2024.
of Non-GAAP Financial Information
press release contains supplemental financial information determined by methods other than in accordance with accounting principles
generally accepted in the United States (GAAP). Sensus Healthcare management uses Adjusted EBITDA, a non-GAAP financial measure,
in its analysis of the Company's performance. Adjusted EBITDA should not be considered a substitute for GAAP basis measures,
nor should it be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation
of Adjusted EBITDA, which excludes the impact of interest, income taxes, depreciation, amortization and stock-compensation expense,
provides useful supplemental information that is essential to a proper understanding of the financial results of Sensus Healthcare.
Non-GAAP financial measures are not formally defined by GAAP, and other entities may use calculation methods that differ from
those used by Sensus Healthcare. As a complement to GAAP financial measures, management believes that Adjusted EBITDA assists
investors who follow the practice of some investment analysts who adjust GAAP financial measures to exclude items that may obscure
underlying performance and distort comparability. A reconciliation of the GAAP net loss to Adjusted EBITDA is provided in the
TO NON-GAAP RECONCILIATION
| For the Three Months Ended | For the Years Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| (in thousands) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net (loss) income, as reported | $ | (3,167 | ) | $ | 1,546 | $ | (7,719 | ) | $ | 6,647 | ||||||
| Add: | ||||||||||||||||
| Depreciation | 103 | 85 | 386 | 239 | ||||||||||||
| Stock compensation expense | 76 | 122 | 295 | 323 | ||||||||||||
| Income tax expense (benefit) | 174 | 410 | (1,905 | ) | 2,375 | |||||||||||
| Interest income, net | (156 | ) | (230 | ) | (683 | ) | (932 | ) | ||||||||
| Adjusted EBITDA, non GAAP | $ | (2,970 | ) | $ | 1,933 | $ | (9,626 | ) | $ | 8,652 |
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.
are encouraged to pre-register for the conference call using this link to receive a dial-in number and PIN 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 (U.S. and Canada) or 412-317-0676 (International). Please ask the operator
to be connected to the Sensus Healthcare conference call.
call will be webcast live and can be accessed at this link, which is also in the Investor Relations section of the Company's
website at www.sensushealthcare.com.
the conclusion of the conference call, a telephone replay will be available until March 12, 2026, by dialing 855-669-9658 (U.S.
and Canada) or 412-317-0088 (International). At the system prompt, enter the replay code 1795391. An archived webcast will be
available in the Investor Relations section of the Company's website for a period of time.
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.
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.
statements involve risks and uncertainties because they relate to events, developments, and circumstances relating to Sensus,