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- 2026 CMS Physician Fee Schedule Final Rule provides a 300% per-fraction increase to delivery code that became effective January 1, 2026<\/i><\/li>\n
- Company enters 2026 with reimbursement certainty and strategic visibility, expects sequential-quarter revenue growth in Q1 and full-year profitability<\/i><\/li>\n
- Shipped 14 SRT systems in Q4, most in December and none to its historically largest customer, up from six systems in Q3 excluding shipments to its historically largest customer<\/i><\/li>\n<\/ul>\n
Conference call begins at 4:30 p.m. Eastern time today<\/i><\/p>\n
BOCA RATON, Fla.–(BUSINESS WIRE<\/a>)–Sensus Healthcare, Inc. (Nasdaq: SRTS)<\/b>, 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.<\/p>\n
\nHighlights include the following:<\/p>\n
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- \nRevenues were $4.9 million for the quarter and $27.5 million for the year<\/p>\n<\/li>\n
- \nNet loss was $3.2 million for the quarter and $7.7 million for the year<\/p>\n<\/li>\n
- \nShipped 14 superficial radiotherapy (SRT) systems during the quarter, including eight in the U.S. and six internationally<\/p>\n<\/li>\n
- \nShipped 70 SRT systems during the year, including 56 in the U.S. and 14 internationally<\/p>\n<\/li>\n
- \nEnded the year with $22.1 million in cash and cash equivalents and no debt<\/p>\n<\/li>\n
- \nContinued expansion of the Fair Deal Agreement (FDA) program, with 18 active sites and 10 sites pending activation as of year-end<\/p>\n<\/li>\n
- \nDelivered 11,411 FDA treatments to 922 patients during 2025, compared with 1,367 treatments delivered to 264 patients during 2024<\/p>\n<\/li>\n
- \nEntered 2026 with dedicated and exclusive CMS reimbursement codes for SRT technology, providing reimbursement certainty and strategic visibility<\/p>\n<\/li>\n<\/ul>\n
Management Commentary<\/b><\/p>\n
\n\u201cFollowing the publication of Current Procedural Terminology (CPT) codes for treating non-melanoma skin cancer with SRT in November \u2013 with a per-fraction increase of more than 300% versus prior delivery code \u2013 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,\u201d said Joe Sardano, Chairman and Chief Executive Officer of Sensus Healthcare. \u201cWith 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.\u201d<\/p>\n
\n\u201cFDA 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,\u201d he added. \u201cInternational demand contributed meaningfully to the fourth quarter with shipments to China, and international markets remain an important component of our growth strategy.\u201d<\/p>\n
\n\u201cLooking 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,\u201d Sardano continued. \u201cWith 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.\u201d<\/p>\n
Fourth Quarter Financial Results<\/b><\/p>\n
\nRevenues 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.<\/p>\n
\nCost 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.<\/p>\n
\nGross 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.<\/p>\n
\nGeneral 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.<\/p>\n
\nSelling and marketing expenses were $1.4 million for the fourth quarter of 2025, remaining consistent with the prior-year quarter.<\/p>\n
\nResearch 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.<\/p>\n
\nOther income, net of $0.2 million remained consistent with the prior-year quarter.<\/p>\n
\nNet 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.<\/p>\n
\nAdjusted 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.<\/p>\n
\nCash 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.<\/p>\n
Full Year Financial Results<\/b><\/p>\n
\nRevenues 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.<\/p>\n
\nCost 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 higher cost of service and costs associated with the new placements under the FDA program.<\/p>\n
\nGross 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.<\/p>\n
\nGeneral 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.<\/p>\n
\nSelling 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.<\/p>\n
\nResearch 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.<\/p>\n
\nOther income, net of $0.7 million and $0.9 million in the years ended December 31, 2025 and 2024, respectively, relates primarily to interest income.<\/p>\n
\nNet 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 full year 2024.<\/p>\n
\nAdjusted EBITDA for 2025 was negative $9.6 million, compared with $8.7 million for 2024.<\/p>\n
Use of Non-GAAP Financial Information<\/b><\/p>\n
\nThis 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\u2019s 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 schedule below.<\/p>\n
SENSUS HEALTHCARE, INC.
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<\/b>GAAP TO NON-GAAP RECONCILIATION
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<\/b>(unaudited)<\/b><\/p>\n
- Company enters 2026 with reimbursement certainty and strategic visibility, expects sequential-quarter revenue growth in Q1 and full-year profitability<\/i><\/li>\n