PRISM MedDevice Mover: Sensus HealthCare
February 16, 2024 at 4:54 pm - by Editor Prism MarketView
Sensus Healthcare, Inc. (Nasdaq: SRTS) is at the forefront of superficial radiation therapy devices, with a diverse product range aimed at treating non-melanoma skin cancers and various other cancers. Their innovative lineup includes the SRT-100, SRT-100 Vision, and SRT-100 Plus systems, alongside the Sculptura robotic system for intraoperative radiation therapy. The company supports its offerings with the Sentinel service program and a range of disposable safety items.
Sensus is today’s leader in the PRISM Emerging Med Devices Index with shares trading 16.2% higher.
Key Financial Highlights Q4 2023:
- Revenue Surge: Q4 revenues hit $12.6 million, marking a significant threefold increase from Q3 amid economic adjustments.
- Innovative Revenue Model: Introduction of a recurring revenue model for the SRT-100 Vision™ to cater to dermatologist demand.
- Product Shipments: 66 SRT systems shipped in 2023, with 33 in Q4 alone.
- Profit Growth: Q4 net income reached $4.2 million ($0.26 per diluted share), up from $2.8 million year-over-year.
- Strong Financial Position: Ended 2023 with $23.1 million in cash, zero debt, and boosted inventory for anticipated 2024 growth.
- Strategic Developments:
- New Appointments: Michael Sardano appointed as President and General Counsel to the Board of Directors.
- Market Expansion: First SRT-100 Vision placed under the new model; plans to highlight SRT systems at dermatology conferences.
- Partnerships and Studies: Collaboration with CureRays for the recurring revenue model oversight and conducting studies on SRT’s effectiveness for inflammatory diseases.
