SRTS

Sensus Healthcare, Inc. Common Stock NASDAQ Capital Market
$4.43
Open: $4.12 High: $4.5 Low: $4.12 Close: $4.32
Range: 2021-06-23 - 2021-06-24
Volume: 40,052
Market: Open
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SRTS
Sensus Healthcare, Inc. Common Stock 851 Broken Sound Parkway Boca Raton FL, 33487 http://www.sensushealthcare.com
Sensus Healthcare Inc is a manufacturer of superficial radiation therapy devices. The Company's products and services include SRT-100, SRT-100 Vision, and Sentinel service program.
  • CEO: Joseph Sardano
  • Employees: 45
  • Sector: Healthcare
  • Industry: Medical Devices
SRTS News
Latest news about the SRTS
  • Is Sensus Healthcare, Inc. (SRTS) A Good Stock To Buy?

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F filings […]

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  • Shareholders May Be Wary Of Increasing Sensus Healthcare, Inc.'s (NASDAQ:SRTS) CEO Compensation Package

    Sensus Healthcare, Inc. ( NASDAQ:SRTS ) has not performed well recently and CEO Joe Sardano will probably need to up...

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  • Sensus Healthcare, Inc. (SRTS) Reports Q1 Loss, Lags Revenue Estimates

    Sensus Healthcare, Inc. (SRTS) delivered earnings and revenue surprises of 22.22% and -22.08%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

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  • Sensus Healthcare Reports First Quarter 2021 Financial Results

    Revenues up 83% year-over-year Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., May 06, 2021 (GLOBE NEWSWIRE) -- 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 conditions, announces financial results for the three months ended March 31, 2021. Highlights from the first quarter of 2021 and recent weeks include the following (all comparisons are with the first quarter of 2020, unless otherwise indicated): Installed the 500th unit since Sensus was founded 10 years ago with the sale of a second unit to Mid-Atlantic Skin Surgery Institute in MarylandResearchers at Colorado State University demonstrated the effectiveness and utility of the SRT-100™ for the companion-animal marketShipped seven SRT systems during the quarter, including six domestic direct sales and one system to ChinaHoly Name Medical Center in Teaneck, New Jersey delivered superficial radiation therapy (SRT) to the lungs of COVID-19 patients with pneumoniaContinued generating recurring revenue via the Sentinel™ IT Solutions package, which will be included in aesthetic lasers as well as SRT-100 Vision™ systemsRevenues were $3.1 million, compared with $1.7 millionNet loss narrowed to $1.1 million, or $0.07 per share, from a net loss of $3.6 million, or $0.22 per shareAdjusted EBITDA, a non-GAAP financial measure, narrowed to $(0.8) million from $(3.3) millionCash and cash equivalents were $13.7 million as of March 31, 2021, compared with $14.9 million as of December 31, 2020 Management Commentary “Our business continued to rebound during the first quarter following the severe impact of the COVID-19 pandemic during most of 2020. Total revenues were significantly higher versus the prior-year quarter and featured both domestic and overseas sales,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “We are cautiously optimistic that the signs of market recovery will allow continued revenue growth as the year progresses, noting our historical seasonality during the summer months. “Currently, the SRT Systems installed at customer sites are operating with good volumes, likely reflecting not only the safety and efficacy of using SRT to treat non-melanoma skin cancer, but also a fairer reimbursement environment as of January 1, 2021, as the Centers for Medicare & Medicaid Services revalued our main procedure and other codes following years of lobbying by Sensus. We believe the higher reimbursement is driving increased interest for our SRT Systems, including interest in shared revenue programs. Customers and prospective customers alike appear to be satisfied with the new reimbursement levels and we anticipate this acceptance will be reflected in our revenue during the second half of this year. “We were delighted to announce the installation of our 500th system since the formation of Sensus Healthcare a decade ago. The sale was to the Mid-Atlantic Skin Surgery Institute in Maryland, and was the second purchase of an SRT system by this group. We’re looking forward to the installation of the next 500 systems, but in half the time as the first 500,” added Mr. Sardano. “We were pleased to ship another SRT System to China during the quarter, which came on the heels of the sale of three systems to China during the fourth quarter of 2020. Our new distribution partner for China and Hong Kong, along with our new vice president of international sales, have developed an extensive network of prospects, and we expect continued sales there in both the second quarter and the rest of the year. Our preparations for Sculptura entering the regulatory process in China are ongoing. “During the first quarter, Sensus was awarded a patent titled ‘Three-Dimensional Beam Forming X-Ray Source.’ This patent contains 31 separate claims and describes the method of beam splitting and sculpting found in the Sculptura™ System, our Anisotropic Radiation Therapy with Beam Sculpting™ capabilities and Robotic Respiratory Tracking for 17 indications. This new patent covers the delivery of radiation to treat solid tumors of all types. In addition, there may be opportunity to license this technology for devices other than Sculptura. In the meantime, later this year we expect our research partners at the University of Pennsylvania to begin supportive studies in breast and other cancers that have been on pandemic-related hold.” Mr. Sardano added, “We are approaching the launch of our new aesthetic lasers and completion of the integration of our Sentinel™ IT Solutions software into the lasers is imminent. Sentinel provides asset management and HIPAA-compliant patient data and storage capability, and also contains the software necessary to support shared service models including direct patient billing. We expect the sale of aesthetic lasers will become a meaningful source of revenue, in particular as we roll out two disruptive rental strategies. These strategies are designed to generate consistent revenue for Sensus, while providing physician customers with access to multiple lasers. We are also looking at expanding our mobile aesthetic laser business beyond Florida via strategic transactions. “I continue to voice my appreciation for our staff and the way they have maintained a focus on customers and patients throughout the pandemic. I believe we have further strengthened those relationships and that we are poised to resume meaningful domestic growth with the worst of the pandemic behind us. We look forward to showcasing our SRT systems along with the Sentinel technology at the Fall Clinical Dermatology Conference during October, which is expected to be a live show in Las Vegas,” Mr. Sardano concluded. First Quarter Financial Results Revenues for the first quarter of 2021 were $3.1 million compared with $1.7 million for the first quarter of 2020. The 83% increase was primarily driven by a higher number of units sold in 2021, service revenue on installed units, and the impact of COVID-19 on the first quarter of 2020. Cost of sales for the first quarter of 2021 was $1.5 million compared with $1.0 million for the prior-year quarter. The increase was commensurate with higher sales in the 2021 period. Gross profit for the first quarter of 2021 was $1.6 million compared with $0.7 million for the first quarter of 2020. Gross margin for the first quarter of 2021 was 51.6% compared with 42.2% for the prior-year quarter. The increase in gross margin was primarily driven by the higher number of units sold in 2021, service revenue on installed units and the impact of COVID-19 on the first three months of 2020. Selling and marketing expense for the first quarter of 2021 was $1.1 million compared with $1.8 million for the first quarter of 2020. The 40% decrease was primarily attributable to lower tradeshow expense due to cancellations related to COVID-19, reduced marketing activities, including travel, and reduced headcount. General and administrative expense for the first quarter of 2021 was $1.0 million compared with $1.3 million for the first quarter of 2020. The 27% decrease was primarily due to reduced headcount, partially offset by higher insurance premium costs. Research and development expense for the first quarter of 2021 was $0.7 million compared with $1.2 million for the prior-year quarter. The 46% decrease reflected lower spending as the Sculptura™ project entered the production phase during 2020. Net loss for the first quarter of 2021 was $(1.1) million, or $(0.07) per share, compared with a net loss of $(3.6) million, or $(0.22) per share, for the first quarter of 2020. Adjusted EBITDA for the first quarter of 2021 was $(0.8) million compared with $(3.3) million in the first quarter of 2020. 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 specific reasons these non-GAAP financial measures are provided. Cash and cash equivalents were $13.7 million as of March 31, 2021 compared with $14.9 million as of December 31, 2020. The company had approximately $0.2 million in long-term debt and no outstanding borrowings under its revolving line of credit at March 31, 2021. 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 the United States (GAAP). Sensus Healthcare management uses Adjusted EBITDA, a non-GAAP financial measure, in its analysis of 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. SENSUS HEALTHCARE, INC.GAAP TO NON-GAAP RECONCILIATION For the Three Months Ended March 31,(in thousands) 2021 2020 Net loss, as reported $(1,115) $(3,587) Add: Depreciation and amortization 208 153 Stock-compensation expense 60 156 Interest income, net - (50) Adjusted EBITDA, non-GAAP $(847) $(3,328) Conference Call and Webcast The Company will host an investment community conference call today beginning at 4:30 p.m. Eastern time, during which management will discuss financial results for the 2021 first quarter, provide a business update and answer questions. To access the conference call, the dial-in numbers are (888) 390-3967 (U.S. and Canada) or 862-298-0702 (International). Please direct the operator to be connected to the Sensus Healthcare conference call. The call will be webcast live and can be accessed here or in the Investors section of the Company’s website here. Following the conclusion of the conference call, a replay will be available and can be accessed by dialing 888-539-4649 (U.S. and Canada) or 754-333-7735 (International). At the prompt, enter replay code 155558 followed by the # sign. An archived webcast of the call will also be available in the Investors section of the Company’s website for a period of time. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, 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, 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 than anticipated. 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 continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve profitability; 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; 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; the regulatory requirements applicable to us and our competitors; our ability to efficiently manage our manufacturing processes and costs; the risks arising from our international operations; legislation, regulation, or other governmental action , that affects our products, taxes, international trade regulation, or other aspects of our business; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 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. 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 our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business. Contact: LHA Investor Relations Kim Sutton Golodetz212-838-3777kgolodetz@lhai.com (Tables to follow) SENSUS HEALTHCARE, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except shares and per share data) As of March 31, As of December 31, 2021 2020 Assets Current assets Cash and cash equivalents $13,652 $14,907 Accounts receivable, net 4,056 3,776 Inventories 4,298 4,427 Prepaid and other current assets 1,909 2,061 Total current assets 23,915 25,171 Property and equipment, net 1,193 1,356 Intangibles, net 307 338 Deposits 68 69 Operating lease right-of-use assets, net 999 1,076 Total assets $26,482 $28,010 Liabilities and stockholders’ equity Current liabilities Accounts payable and accrued expenses $2,828 $2,874 Deferred revenue, current portion 1,362 1,492 Operating lease liabilities, current portion 307 303 Product warranties 185 187 Total current liabilities 4,682 4,856 Loan payable 213 267 Operating lease liabilities, net of current portion734 812 Deferred revenue, net of current portion 418 579 Total liabilities 6,047 6,514 Commitments and contingencies Stockholders’ equity Preferred stock, 5,000,000 shares authorized and none issued and outstanding— — Common stock, $0.01 par value – 50,000,000 authorized; 16,564,311 issued and 16,489,619 outstanding at March 31, 2021; 16,564,311 and 16,491,103 issued and outstanding at December 31, 2020166 166 Additional paid-in capital 43,761 43,701 Treasury stock, 74,692 and 73,208 shares at cost, at March 31, 2021 and December 31, 2020, respectively(316) (310)Accumulated deficit (23,176) (22,061)Total stockholders’ equity 20,435 21,496 Total liabilities and stockholders’ equity $26,482 $28,010 SENSUS HEALTHCARE, INC. CONDENSED STATEMENTS OF OPERATIONS(in thousands, except share and per share data) For the Three Months Ended March 31, 2021 2020 Revenues$3,070 $1,679 Cost of sales 1,484 970 Gross profit 1,586 709 Operating expenses Selling and marketing 1,068 1,791 General and administrative 972 1,330 Research and development 661 1,225 Total operating expenses 2,701 4,346 Income (loss) from operations (1,115) (3,637) Other income (expense) Interest income - 50 Other income (expense), net - 50 Net income (loss) (1,115) (3,587) Net income (loss) per share – basic and diluted$(0.07) $(0.22) Weighted average number of shares used in computing net loss per share – basic and diluted16,461,311 16,407,102

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  • Sensus Healthcare, Inc. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / May 6, 2021 / Sensus Healthcare, Inc. (NASDAQ:SRTS) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 6, 2021 at 4:30 PM Eastern Time.

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  • Sensus Healthcare, Inc. (SRTS) May Report Negative Earnings: Know the Trend Ahead of Q1 Release

    Sensus Healthcare, Inc. (SRTS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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  • Sensus Healthcare to Host First Quarter 2021 Financial Results and Business Update Conference Call on May 6, 2021

    BOCA RATON, Fla. , April 29, 2021 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive treatments for both oncological and non-oncological conditions, announces that management will hold a conference call on Thursday, May 6, 2021 at 4:30 p.m. Eastern time to discuss the financial results for the first quarter of 2021. In addition, management will provide a business update and a discussion on recent and upcoming milestones. To access the conference call, the dial-in numbers are 888-390-3967 (U.S. and Canada Toll Free), 862-298-0702 (International). Please direct the operator to be connected to the Sensus Healthcare conference call. The call will be webcast live and can be accessed at the following link, which also may be found in the Investor Relations section of the Company’s website at www.sensushealthcare.com. Following the conclusion of the conference call, a replay will be available and can be accessed by dialing 888-539-4649 (U.S. and Canada Toll Free), or 754-333-7735 (International). At the system prompt, dial the replay code – 155558 followed by the # sign. Playback will automatically begin. An archived webcast of the call will also be available in the Investor Relations section of the Company’s website for a period of time. About Sensus Healthcare, Inc. Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted Directional Anisotropic Radiation Therapy (ART) and Brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, visit www.sensushealthcare.com. Contact: LHA Investor Relations Kim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Sensus Healthcare Announces the Sale/Install of its 500th Unit

    Mid-Atlantic Skin Surgery Institute in Maryland acquires a second SRT systemBOCA RATON, FL, April 13, 2021 (GLOBE NEWSWIRE) -- 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 conditions, today announced the installation of its 500th unit, achieving a key milestone set forth when the Company began operations in February 2011. This milestone was met on April 5, 2021 when an SRT-100™ system was shipped to the Mid-Atlantic Skin Surgery Institute, led by George Verghese, M.D. who is opening his second office in Maryland. Dr. Verghese is a board-certified dermatologist who, in addition to maintaining his private practice, is an Assistant Clinical Professor of Dermatology at Howard University College of Medicine and former Mohs surgeon for the Veterans Affairs Medical Center in Washington, DC. This SRT (superficial radiation therapy) system is the second Dr. Verghese has purchased, for a new office in his growing practice. He purchased his first Sensus SRT system in 2014, seven years ago. “We are delighted to count Dr. Verghese among the growing number of distinguished clinicians who continues to see the SRT technology as an integral part of his growing practice,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “We pride ourselves in being associated with physicians who put their patients first and make SRT available to those with non-melanoma skin cancer or keloids. SRT is extremely efficacious, safe and non-invasive, making it a highly attractive treatment option for many patients. “At the outset, our goal was to have 500 systems installed. In reaching this milestone, we feel we can add the next 500 units in half that time,” Mr. Sardano continued. “Given growing awareness among clinicians as well as patients of the important features and benefits of our products, along with improved Medicare reimbursement for SRT treatments, we are optimistic this goal will be achieved.” “SRT treatments have revolutionized the way that we offer patient solutions regarding skin cancer diagnosis,” commented Dr. Verghese. “Mid-Atlantic Skin is thrilled about acquiring our second SRT-100 device and Sensus's 500th worldwide offering skin cancer superficial radiation therapy to our Southern Maryland patient community. “Patients desire options and many are surprised to learn that a non-surgical option for skin cancer is available, especially if the patient comes from another dermatology practice without SRT. In our experience, this innovation demonstrates excellent patient outcomes and we highly recommend Sensus as a preferred partner,” Dr. Verghese added. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted Directional Anisotropic Radiation Therapy (ART) and Brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, 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 forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics, and healthcare, regulatory and scientific developments and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business. Contact: LHA Investor RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Colorado State University, Flint Animal Cancer Center Applies Sensus Healthcare’s SRT Non-Surgical Treatment to Animal Care

    Effectiveness and Utility of SRT-100™ Demonstrated in the Companion-Animal Market Best-in-class localization features of SRT-100 enable new radiation therapy options in veterinary settings BOCA RATON, Fla, March 16, 2021 (GLOBE NEWSWIRE) -- 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 conditions, announced today that the first canine patient was successfully treated with the company’s SRT-100™ system. SRT-100 systems utilize Sensus Healthcare’s proprietary low-energy x-ray technology known as superficial radiation therapy (SRT) that enables radiation therapy to target harder-to-reach lesions, such as those often found in animal patients. The canine, an American bulldog, named Daisy, was treated at Flint Animal Cancer Center at the Colorado State University (CSU) James L. Voss Veterinary Teaching Hospital. Daisy was the first canine patient anywhere to be treated with the SRT-100. The agreement with the school calls for the development of protocols for SRT use and the publishing of clinical data. Daisy was diagnosed with two small mast cell tumors, one on her muzzle and the other on her lower eyelid. Following six treatments supported by SRT-100, there was a reduction in the size of both masses, negating the need for surgery, with hair loss being the only notable side effect. “This was the first opportunity we had to employ the Sensus Healthcare device. In the past, we have been limited with our treatment options, especially when the tumors were too small or unreachable for traditional radiation therapies, as was the case with Daisy,” said Dr. Tiffany Martin, radiation oncologist at the Flint Animal Cancer Center. “We expect to see a growing use of this technology to treat other superficial skin or oral cancers, potentially alongside intraoperative surgery to treat questionable surgical margins.” John Heinrich, Ph.D., a member of the Sensus Healthcare board of directors and the key relationship contact with CSU, added, “We are pleased to hear of Daisy’s recovery and of the groundbreaking work by the team of oncologists and veterinarians at Colorado State University Veterinary Teaching Hospital. Their work affirms the importance of our partnerships and how they continually expand our application potential and demonstrate the critical role of the SRT-100 in the treatment landscape.” SRT-100 is used by dermatologists in human medicine to treat non-melanoma skin lesions, including basal cell and squamous cell carcinomas. The SRT-100 from Sensus Healthcare is being used to explore possible applications in veterinary medicine, which represents a potential new market for Sensus. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted Directional Anisotropic Radiation Therapy (ART) and Brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, 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 forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics, and healthcare, regulatory and scientific developments and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business. Contact: LHA Investor RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Sensus Healthcare to Participate in Three Investment Conferences During the Month of March

    BOCA RATON, Fla, March 08, 2021 (GLOBE NEWSWIRE) -- 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 conditions, today announced that Joe Sardano, Chairman and Chief Executive Officer, will participate in three virtual investment conferences during the month of March, as follows: The H.C. Wainwright Global Life Sciences Virtual Conference with one-on-one meetings being held March 9-10, 2021 The Virtual 33rd Annual Roth Conference with one-on-one meetings being held March 15- 17, 2021 in a live panel discussion titled, “Flipping the Switch to Profitability” to be held on March 16 at 10:00 a.m. Eastern time The Maxim Group Emerging Growth Virtual Conference being held March 17-18, 2021 with one-on-one meetings scheduled after the event A link to the H.C. Wainwright Conference will be available on the Company’s website at the conclusion of the conference. A link to the Roth Capital Partners panel discussion will be available in the Investors section of the Company’s website at panel start time. Institutional and other investors interested in scheduling a one-on-one meeting with Sensus Healthcare during any of these conferences should contact their sales representative at the sponsoring investment bank. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The SculpturaTM modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam SculptingTM to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non- melanoma skin cancers and keloids with its SRT-100TM, SRT-100+TM and SRT-100 VisionTM systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, visit www.sensushealthcare.com. Contact information LHA Investor RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Sensus Healthcare, Inc. (NASDAQ:SRTS): Are Analysts Optimistic?

    We feel now is a pretty good time to analyse Sensus Healthcare, Inc.'s ( NASDAQ:SRTS ) business as it appears the...

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  • Sensus Healthcare Jumps After Posting Surprise Profit

    Radiation-therapy-device specialist Sensus posted a surprise fourth-quarter profit of 6 cents a share.

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  • Sensus Healthcare Reports Fourth Quarter and Full Year 2020 Financial Results

    Achieves fourth quarter net income of $1.0 million on revenues of $5.1 million Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Feb. 25, 2021 (GLOBE NEWSWIRE) -- 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 conditions, announces financial results for the three and 12 months ended December 31, 2020. Highlights from the fourth quarter of 2020 and recent weeks include the following (all comparisons are with the fourth quarter of 2019, unless otherwise indicated): Shipped 18 systems during the quarter, including 12 domestic direct sales and three systems to ChinaShipped a system to Holy Name Medical Center in Teaneck, New Jersey to deliver superficial radiation therapy (SRT) to the lungs of COVID-19 patients with pneumoniaThe Centers for Medicare and Medicaid Services (CMS) significantly increased reimbursement for the main SRT code along with meaningful increases in Evaluation & Management (E/M) codesThe Journal of Clinical and Aesthetic Dermatology published a retrospective study showing keloidectomy followed by SRT had an approximate 10% recurrence rate, compared with an expected recurrence rate of more than 80% following surgical excision aloneMaintained customer support during the COVID-19 pandemic via frequent direct outreach and a series of online programs highlighting the benefits of SRT to treat non-melanoma skin cancerLaunched new FDA-cleared aesthetic lasers via Sensus Laser Aesthetic Services (SLAS), the company’s mobile aesthetic laser businessContinued generating recurring revenue via the Sentinel™ IT Solutions package, now included in just-launched aesthetic lasers as well as SRT-100 Vision™ systemsRevenues were $5.1 million, compared with $8.5 million a year ago and up from $1.6 million in the third quarter of 2020Net income was $1.0 million, or $0.06 per diluted share, unchanged from the prior yearAdjusted EBITDA, a non-GAAP financial measure, was $1.3 million for both fourth quarter of 2020 and 2019 Management Commentary “Revenues improved significantly during the fourth quarter compared with the first three quarters of the year. Reflecting our keen attention to operating expenses. We generated net income of $1.0 million for the quarter, a positive finish to a very challenging year,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “While our business continues to be impacted by the pandemic, the cautious reopening of regional economies across the U.S. allowed Sensus to resume sales. We were delighted to ship 18 SRT systems during the quarter, including 12 domestic direct sales and three to China. We are cautiously optimistic that markets will recover during the coming year, and plan to step up select hiring in our sales organization. “During the fourth quarter, two clinical studies on the use of SRT for the prevention of keloid recurrence were published. One showed keloidectomy followed by SRT had an approximate 10% recurrence rate, compared with an expected recurrence rate of more than 80% following surgical excision alone. The other showed that a single low dose of SRT following excision of 14 keloids had an approximate 6.25% recurrence rate at six months, and for the 10 patients available for follow-up at 24 months none of the keloids had recurred. “We were delighted that CMS revalued our main code following years of lobbying, issuing a new, final reimbursement amount for CPT® code 77401 of approximately $44 per treatment, effective January 1, 2021. In addition, E/M codes that CMS directs users of SRT to utilize have increased by 30%. Other codes were revalued upward for the ultrasound capability in our SRT-100 Vision systems. Zoom Meetings to present these new coding values have been scheduled, hosted by Dr. Mark Nestor, President of the American Cutaneous Oncology Society (ACOS). We are pleased our physician customers will now be provided with a more fair and equitable reimbursement for a procedure with favorable outcomes without the potential complications. While in the midst of peak Covid – 19 conditions, SRT was proven a valuable tool for our physicians and their patients and should become part of “best practices” procedure in the new normal post Covid-19 as well. We believe new reimbursement amounts will catalyze additional physician interest in adding SRT to their treatment armamentarium. “Although COVID-19 impacted sales, it also presented an opportunity for Sensus to offer a treatment for pneumonia in COVID-19 patients by delivering superficial radiation to the lung. We shipped an SRT system to Holy Name Hospital in Teaneck, New Jersey, a hospital on the forefront of COVID-19 therapy. We expect to receive data on the efficacy of our system for this use during the next weeks and note that preliminary data suggest a positive therapeutic effect. Our SRT systems are well-suited for COVID-19 as they are portable and allow for bedside treatment in the intensive care unit, rather than transporting patients to a cancer treatment center for radiation therapy and possibly exposing vulnerable patients to the virus.” Mr. Sardano added, “We have 510(k) clearance for four aesthetic lasers equipped with our Sentinel™ IT Solutions software to be introduced by the end of the first quarter 2021. Sentinel provides asset management and HIPAA-compliant patient data and storage capability, and also contains the software necessary to support shared service models including direct patient billing. We have integrated these lasers into SLAS, our mobile aesthetic laser division that we expect will become a meaningful source of revenue growth, in particular as we roll out two disruptive rental strategies during the first quarter of 2021. These strategies are designed to generate consistent revenue for Sensus, while providing physician customer with access to multiple lasers. We are also looking at expanding our mobile aesthetic laser business beyond Florida via strategic transactions. “Business in China picked up during the fourth quarter with the sale of three systems. Plus, as of January 1, 2021 we have a new distribution partner for China and Hong Kong. Our new VP of international sales has developed an extensive network of prospects in China, and we are optimistic that China represents an excellent growth opportunity. In addition, we are finalizing a new distributor in Taiwan and are preparing Sculptura™ for the regulatory process in China. Sculptura is our Anisotropic Radiation Therapy with Beam Sculpting™ capabilities and Robotic Respiratory Tracking for up to 17 different indications. “I am so very proud of our staff and the way we kept our focus on customers and patients throughout the pandemic. We believe the worst is behind us and that we are well positioned to resume the growth trajectory that was interrupted almost exactly one year ago,” concluded Mr. Sardano. Fourth Quarter Financial Results Revenues for the fourth quarter of 2020 were $5.1 million, compared with $8.5 million for the fourth quarter of 2019. The decrease was due to lower number of units sold as a result of COVID-19. Gross profit for the fourth quarter of 2020 was $3.2 million, or 63.4% of revenues, compared with $5.5 million, or 64.1 % of revenues, for the fourth quarter of 2019. Selling and marketing expense for the fourth quarter of 2020 was $1.3 million, compared with $2.5 million for the fourth quarter of 2019. The decrease was primarily due to a reduction in tradeshow expense and sales commissions. General and administrative expense for the fourth quarter of 2020 was $0.8 million, compared with $1.1 million for the fourth quarter of 2019. The decrease primarily reflects the impact of bad debt expense in 2019. Research and development expense for the fourth quarter of 2020 was $0.8 million, compared with $0.9 million for the fourth quarter of 2019. The decrease was mainly due to lower expenses related to Sculptura development, as commercial production started. Net income for both the fourth quarter of 2020 and 2019 was $1.0 million, or $0.06 per diluted share. Adjusted EBITDA for both the fourth quarter of 2020 and 2019 were $1.3 million. 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 specific reasons these non-GAAP financial measures are provided. Cash and investments were $14.9 million as of December 31, 2020, compared with $15.5 million as of December 31, 2019. The company had a small long-term debt and no outstanding borrowings under its revolving line of credit both during 2020 and as of December 31, 2020. Full Year 2020 Financial Results Total revenues for 2020 were $9.6 million, compared with $27.3 million for 2019. Gross profit for 2020 was $5.2 million, or 54.8% of revenue, compared with $17.6 million, or 64.4% of revenue, for 2019. The decrease in revenue, gross profit and gross margin is primarily due to the lower number of units sold, reflecting the impact of COVID-19. Selling and marketing expense decreased to $5.3 million for 2020 from $9.1 million in the prior year, primarily due to cancellations of trade shows due to COVID-19, a decrease in commission expense due to lower sales, and reduced spending on marketing activities. General and administrative expense was unchanged at $4.0 million for both years. Research and development expense was $4.2 million for 2020, compared with $6.4 million for 2019. The decrease was primarily due to lower spending as the Sculptura project entered commercial production during 2020. The net loss for 2020 was $(6.8) million, or $(0.42) per share, compared with a net loss of $(1.7) million, or $(0.10) per share, for 2019. Adjusted EBITDA for 2020 was $(5.8) million, compared with $(0.8) million for 2019. 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 the United States (GAAP). Sensus Healthcare management uses Adjusted EBITDA, a non-GAAP financial measure, in its analysis of 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. SENSUS HEALTHCARE, INC. GAAP TO NON-GAAP RECONCILIATION For the Three Months Ended December 31, For the Years Ended December 31, 2020 2019 2020 2019 Net loss, as reported $1,018,413 $1,039,102 $(6,835,526) $(1,700,003) Add: Depreciation and amortization 238,077 130,591 721,865 545,717 Stock-compensation expense 62,564 158,145 386,483 620,925 Interest, net (3,273) (54,711) (52,555) (268,290) Adjusted EBITDA, non-GAAP $1,315,781 $1,273,127 $(5,779,733) $(801,651) Conference Call and Webcast The Company will host an investment community conference call today beginning at 4:30 p.m. Eastern time, during which management will discuss financial results for the 2020 fourth quarter, provide a business update and answer questions. To access the conference call, the dial-in numbers are 888-390-3967 (U.S. and Canada) or 862-298-0702 (International). Please direct the operator to be connected to the Sensus Healthcare conference call. The call will be webcast live and can be accessed here or in the Investors section of the Company’s website here. Following the conclusion of the conference call, a replay will be available and can be accessed by dialing 888-539-4649 (U.S. and Canada) or 754-333-7735 (International). At the prompt, enter replay code 155222 followed by the # sign. An archived webcast of the call will also be available in the Investors section of the Company’s website for a period of time. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, 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, 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 than anticipated. 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 continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve profitability; 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; 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; the regulatory requirements applicable to us and our competitors; our ability to efficiently manage our manufacturing processes and costs; the risks arising from our international operations; legislation, regulation, or other governmental action , that affects our products, taxes, international trade regulation, or other aspects of our business; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 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. 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 our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business. Contact: LHA Investor Relations Kim Sutton Golodetz212-838-3777kgolodetz@lhai.com (Tables to follow) SENSUS HEALTHCARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2020 2019 Assets Current assets Cash and cash equivalents $14,906,976 $8,100,288 Investment in debt securities - 7,389,407 Accounts receivable, net 3,775,937 14,011,180 Inventories 4,427,109 2,997,120 Prepaid and other current assets 2,061,039 1,505,175 Total current assets 25,171,061 34,003,170 Property and equipment, net 1,355,831 1,082,428 Intangibles, net 337,882 337,351 Deposits 69,393 101,561 Operating lease right-of-use assets, net 1,075,728 1,400,037 Total assets $28,009,895 $36,924,547 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $2,873,720 $4,779,435 Deferred revenue, current portion 1,491,916 1,191,898 Operating lease liabilities, current portion 303,405 309,524 Product warranties 187,051 187,454 Total current liabilities 4,856,092 6,468,311 Loan payable 266,777 - Operating lease liabilities, net of current portion 812,124 1,115,529 Deferred revenue, net of current portion 579,292 1,339,285 Total liabilities 6,514,285 8,923,125 Commitments and contingencies Stockholders' equity Preferred stock, 5,000,000 shares authorized and none issued and outstanding - - Common stock, $0.01 par value - 50,000,000 authorized; 16,564,311 issued and 16,491,103 outstanding at December 31, 2020; 16,540,478 and 16,485,780 issued and outstanding at December 31, 2019. 165,643 165,404 Additional paid-in capital 43,700,929 43,314,123 Treasury stock, 73,208 and 54,698 shares at cost, at September 30, 2020 and December 31, 2019, respectively. (309,901) (252,570) Accumulated deficit (22,061,061) (15,225,535) Total stockholders' equity 21,495,610 28,001,422 Total liabilities and stockholders' equity $28,009,895 $36,924,547 SENSUS HEALTHCARE, INC. CONDENSED STATEMENTS OF OPERATIONS For the Three Months Ended December 31, For the Years Ended December 31, 2020 2019 2020 2019 Revenues$5,094,374 $8,509,409 $9,576,932 $27,263,248 Cost of sales 1,865,815 3,051,269 4,327,839 9,706,104 Gross profit 3,228,559 5,458,140 5,249,093 17,557,144 Operating expenses Selling and marketing 1,349,443 2,453,383 5,336,427 9,103,136 General and administrative 779,573 1,070,695 3,989,110 4,004,682 Research and development 842,185 949,671 4,157,430 6,417,619 Total operating expenses 2,971,201 4,473,749 13,482,967 19,525,437 Income (loss) from operations 257,358 984,391 (8,233,874) (1,968,293) Other income (expense) Gain on acquisition - - 588,011 - Gain on extinguishment of the PPP loan 757,782 - 757,782 - Interest, net 3,273 54,711 52,555 268,290 Other income (expense), net 761,055 54,711 1,398,348 268,290 Net income (loss) 1,018,413 1,039,102 (6,835,526) (1,700,003) Net income (loss) per share - Basic$0.06 $0.06 $(0.42) $(0.10) Diluted$0.06 $0.06 $(0.42) $(0.10) Weighted average number of shares used in computing net loss per share - Basic 16,453,603 16,405,281 16,434,079 16,323,748 Diluted 16,434,079 16,428,207 16,434,079 16,323,748

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  • Sensus Healthcare Granted U.S. Patent for Three-Dimensional Beam Forming X-Ray Source

    Patent covers beam splitting and sculpting capabilities of radiation to treat all types of solid tumors with Sculptura™ and potentially other devicesBOCA RATON, Fla, Feb. 23, 2021 (GLOBE NEWSWIRE) -- 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 conditions, today announced that the U.S. Patent and Trademark Office (USPTO) has granted the Company Patent No. 10,607,802 B2, titled “Three-Dimensional Beam Forming X-Ray Source.” This patent, which contains 31 separate claims, describes the method of beam splitting and sculpting found in the Sculptura™ System, the Company’s Anisotropic Radiation Therapy with Beam Sculpting™ capabilities and Robotic Respiratory Tracking for up to 17 different indications. “We are delighted that the USPTO has recognized our unique technology with the granting of this important patent, the first of its kind in the world,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “This new patent opens doors for the delivery of radiation to treat solid tumors of all types. In addition, there may be use for licensing this technology for devices other than Sculptura. This is the fifth U.S. patent granted Sensus since the start of 2020, and I congratulate our talented engineers who have developed this game-changing approach to the use of radiation to treat cancer.” U.S. Patent 10,607,802 B2 concerns a method and system for controlling an electron beam, which involves generating an electron beam and positioning a target element in its path. The patent also covers the X-ray source, comprised of an electron beam generator (EBG) configured to generate an electron beam. The EGB control system selectively controls at least one of a beam pattern and a direction of the X-ray beam by selectively varying a location where the electron beam intersects the target element. The Sensus Healthcare technology, currently embedded in the Sculptura System, differs from IORT in its ability to control the radiation beam, and has a longer useful operating life. About Sensus Healthcare Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy x-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. 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 forward-looking statements can be identified by the use of forward-looking terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business. Contact: LHA Investor RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Sensus Healthcare to Host Fourth Quarter 2020 Financial Results and Business Update Conference Call on February 25, 2021

    BOCA RATON, Fla, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive treatments for both oncological and non-oncological conditions, announces that management will hold a conference call on Thursday, February 25, 2021 at 4:30 p.m. Eastern time to discuss the financial results for the fourth quarter of 2020. In addition, management will provide a business update and a discussion on recent and upcoming milestones. To access the conference call, the dial-in numbers are 888-390-3967 (U.S. and Canada Toll Free), 862-298-0702 (International). Please direct the operator to be connected to the Sensus Healthcare conference call. The call will be webcast live and can be accessed at the following link, which also may be found in the Investor Relations section of the Company’s website at www.sensushealthcare.com. Following the conclusion of the conference call, a replay will be available and can be accessed by dialing 888-539-4649 (U.S. and Canada Toll Free), or 754-333-7735 (International). At the system prompt, dial the replay code – 155222 followed by the # sign. Playback will automatically begin. An archived webcast of the call will also be available in the Investor Relations section of the Company’s website for a period of time. About Sensus Healthcare, Inc. Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted Directional Anisotropic Radiation Therapy (ART) and Brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world. For more information, visit www.sensushealthcare.com. Contact: LHA Investor Relations Kim Sutton Golodetz212-838-3777kgolodetz@lhai.com # # #

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  • Holy Name Medical Center in Teaneck, New Jersey Acquires Sensus Healthcare’s Low-dose Radiation Therapy System to Treat Pneumonia in COVID-19 Patients

    BOCA RATON, Fla., Jan. 06, 2021 (GLOBE NEWSWIRE) -- 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 conditions, today announced Holy Name Medical Center in Teaneck, New Jersey has acquired a Sensus low-dose radiation therapy system for the treatment of pneumonia in COVID-19 patients.“We are delighted to play a part in helping to expand treatment options for COVID-19 patients with pneumonia, and appreciate that Holy Name Medical Center has recognized the potential of our low-dose radiation system in the fight against this pandemic. Our SRT-100+™ and SRT-100 Vision™ systems are portable and allow for bedside treatment in the intensive care unit, rather than transporting patients to a cancer treatment center for radiation therapy and possibly exposing vulnerable patients to the virus. We look forward to receiving data from Holy Name on the efficacy of our system for this use,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare.“Our medical center was one of the first and hardest hit hospitals in the country,” said Adam Jarrett, MD, chief medical officer and executive vice president of medical affairs at Holy Name. “We know the critical importance of using every tool available in our toolkit, having been at the epicenter of New Jersey’s outbreak. The Sensus low-dose radiation therapy system is a potential treatment we can offer to eligible critically ill patients when other therapies have failed to improve their prognosis. The added bonus of this being a portable device allows us to maintain the highest level of safety, keeping COVID patients separate from non-COVID patients.”“Preliminary data from multiple ongoing trials suggest a positive therapeutic effect on COVID pneumonia,” said Jacqueline Brunetti, MD, medical director of radiology at Holy Name. “During a time where few options exist for these more severe cases, we hope to find evidence which supports the safety and efficacy of this treatment. We are grateful for the opportunity to work with Sensus and lend our voices to the growing body of research in the year ahead.”Mr. Sardano added, “We are honored to be able to work alongside the dedicated physicians and administrators at Holy Name.  The medical center has a record of leadership with investigational therapies - including Regeneron’s antibody cocktail - and with developing procedures since COVID-19 first began overwhelming the healthcare systems in the New York metropolitan area.  As a result, Holy Name has played an important role in determining standard of care during a chaotic time.  We are optimistic that their demonstrated success in treating patients will extend to the use of our low-dose radiation system.”SRT-100 systems utilize Sensus Healthcare’s proprietary low-energy x-ray technology known as superficial radiation therapy (SRT).  As a consequence of worldwide attention to low-dose radiation to treat COVID-19 pneumonia, Sensus Healthcare engaged an independent physiology laboratory that has confirmed SRT-100 and SRT-100 Vision systems emit sufficient radiation to penetrate the lungs with acceptable radiation levels in the surrounding organs.About Holy Name Medical CenterHoly Name Medical Center is a fully accredited, not-for-profit healthcare facility based in Teaneck, New Jersey, with off-site locations throughout Bergen County.  Founded and sponsored by the Sisters of St. Joseph of Peace in 1925, the comprehensive 361-bed medical center offers leading-edge medical practice and technology administered in an environment rooted in a tradition of compassion and respect for every patient. Holy Name provides high quality health care across a continuum that encompasses education, prevention, early intervention, comprehensive treatment options, rehabilitation and wellness maintenance.About Sensus HealthcareSensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy x-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.For more information, please visit www.sensushealthcare.com.Forward-Looking StatementsThis press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases these forward-looking statements can be identified by the use of forward-looking terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.Contact: LHA Investor Relations Kim Sutton Golodetz 212-838-3777 kgolodetz@lhai.com

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  • Sensus Healthcare Engages Ekpac Healthcare Ltd. as New Exclusive Distributor in China for SRT-100™ Systems

    Agreement is for the treatment of non-melanoma skin cancer and keloids, covers China and Hong Kong and is effective January 1, 2021BOCA RATON, Fla., Dec. 15, 2020 (GLOBE NEWSWIRE) -- 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 conditions, announces that it has entered into a new exclusive distribution agreement with Ekpac Healthcare Ltd. to market Sensus SRT-100™ systems in China and Hong Kong.  This agreement is effective as of January 1, 2021. Sensus currently has 40 units installed throughout China in public and private hospitals as well as private clinics. It expects this relationship to accelerate SRT-100 unit population in the region.SRT-100 systems utilize Sensus’ proprietary low-energy x-ray technology known as superficial radiation therapy (SRT). China, which has more than 20% of the world’s population, approved the SRT-100 for the treatment of non-melanoma skin cancer and the prevention of scars following keloidectomy in 2014 and 2017, respectively. Sensus recently renewed its focus on international sales, including Asia, with the appointment of Benson Suen as Vice President International Sales July 2020.  Commenting on the agreement, Julie Xue, General Manager of Ekpac Healthcare Technologies, said, “We are delighted Sensus Healthcare has selected Ekpac Healthcare as its exclusive distributor, and look forward to working hand-in-hand to sell SRT-100 systems. Ekpac has more than 100 years of history in China, and is regarded as one of the most successful enterprises to bring advanced technology and devices – along with favorable financing – into China from overseas. SRT-100 systems have numerous compelling features and benefits. With the joint efforts of our two companies, we are confident tremendous success will be achieved and significant benefits will be delivered to patients across China.”“We are excited to have Ekpac Healthcare as our partner in China, a market where we see significant opportunity over the next few years and beyond,” said Mr. Suen. “We believe that with Ekpac’s experience and their network for medical device distribution across China, they will be successful in selling SRT-100 machines to private clinics and public hospitals.  In China and around the world, our systems offer non-invasive, highly efficacious and life-changing solutions to patients who are in need.”About EKPAC GroupEkpac Healthcare is part of EKPAC Group, which was founded in Sweden more than 110 years ago to import Swedish brands into China. Approximately 30 years ago Ekpac Healthcare began to focus on developing its healthcare business, and now supplies more than 150 hospitals in 17 provinces in China.  Its strength is to bridge the latest needs in China with appropriate global advanced technologies, while leveraging its global network to provide clients with third-party financing for those technologies.  For more information, please visit https://ekpac.com.hkAbout Sensus HealthcareSensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy x-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.For more information, please visit www.sensushealthcare.com.Forward-Looking StatementsThis press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases these forward-looking statements can be identified by the use of forward-looking terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.Contact: LHA Investor Relations Kim Sutton Golodetz 212-838-3777 kgolodetz@lhai.com

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  • Sensus Healthcare Announces CMS Sets Rates Higher for SRT Reimbursement

    * Centers for Medicare & Medicaid Services sets a 66% increase in reimbursement for Radiation Treatment Delivery code 77401, and increases related Evaluation & Management codes * Rates to go into effect as of January 1, 2021 BOCA RATON, Fla, Dec. 08, 2020 (GLOBE NEWSWIRE) -- 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 conditions, announces that the Centers for Medicare & Medicaid Services (CMS) has issued a new, final reimbursement amount for CPT® code 77401 of approximately $41 per treatment.  CPT code 77401 covers the delivery of Superficial Radiation Therapy (SRT) and this new amount represents a 66% increase from current levels.  This is the first meaningful revaluation of CPT code 77401 since 2002.In addition to this revaluation, Evaluation & Management (E/M) codes that CMS directs users of SRT to utilize also are increasing by double-digit percentages.  All these increases are effective as of January 1, 2021.“Sensus, along with hundreds of physicians and thousands of skin cancer patients, have advocated for a more fair and equitable reimbursement for SRT for nearly a decade,” said Michael Sardano, Vice President & General Counsel of Sensus Healthcare. “We are thrilled that our physician customers will finally be paid a fairer amount for an effective, non-invasive and patient-friendly method of treating non-melanoma skin cancer without the risks and recovery associated with other forms of treatment such as surgery.  SRT has been shown to have a virtually identical cure rate to Mohs surgery, yet because SRT is non-invasive, patients who choose this form of treatment have one less thing to worry about during the COVID-19 pandemic.”“We are optimistic that a higher level of reimbursement will support the ability of dermatologists to offer SRT as an option to their patients.  This is very important in light of guidelines recently issued by the American Society for Radiation Oncology (ASTRO) that recommend SRT as the first-line alternative to surgery when treating patients,” said Dr. Mark Nestor, President of the American Cutaneous Oncology Society (ACOS), an advocate group for SRT users. “The ASTRO recommendation also follows the published Consensus guidelines supporting the use of SRT as the leading highly effective, non-invasive treatment option for non-melanoma skin cancer.”Commenting on the code revaluation, William I. Roth M.D., a private practice dermatologist and Mohs surgeon in Boynton Beach, Florida and a member of the board of directors of the ACOS, said, "I was invited to attend the Relative Value Update Committee (RUC) meeting in Arizona last year to speak for increasing the value of 77401.   I was happy to do this because I feel this is an essential modality that was very undervalued, and which needs to be more widely available. The recent increases in valuation are a great first step in getting an overall fair valuation."About Sensus HealthcareSensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.For more information, visit www.sensushealthcare.com.Forward-Looking StatementsThis press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases these forward-looking statements can be identified by the use of forward-looking terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.Contact: LHA Investor Relations Kim Sutton Golodetz 212-838-3777 kgolodetz@lhai.com

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  • Sensus Healthcare Announces Study Showing Single Low Dose of Superficial Radiation Therapy Prevents Keloid Recurrence Following Surgical Excision

    Prospective study published in Journal of the American Academy of DermatologyBOCA RATON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- 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 conditions, announces the publication of a prospective clinical study showing that a single low dose of superficial radiation therapy (SRT) following excision of 14 keloids had an approximate 6.25% recurrence rate at six months, and for the 10 patients available for follow-up at 24 months none of the keloids had recurred.The study was published in the Journal of the American Academy of Dermatology and can be found here. Lead authors were Yuna Son, M.S., Ernest Owen Nicandro Phillips B.S. and Kristin Magrini Price, M.D., all of the Department of Biomedical Sciences and Division of Dermatology, Florida State University College of Medicine.A total of 15 black patients with 20 untreated keloids in various anatomic locations were recruited for the study to undergo surgical excision followed by a single dose of superficial radiation. The authors concluded that a single 8 Gy dose of superficial 50 kV radiation delivered an average of 34 days after keloid excision may be sufficient to minimize recurrence, including in individuals who are resistant to steroids. The authors noted that higher radiation energies, doses or fractions may be unnecessary for keloid therapy.“Although this was a small study, the outcome is important,” said Joe Sardano, chief executive officer of Sensus Healthcare. “The investigators noted that there are few prospective studies with SRT following keloidectomy, and that the doses of SRT studied have not been standardized. This study shows that just one low dose of SRT can be impactful.  Not only does this minimize radiation exposure to the patient, but it also is cost effective. “We are delighted that the dermatology community is becoming increasingly aware of the role of SRT in treating disfiguring keloids. The publication of this study comes on the heels of a retrospective study published in the Journal of Clinical and Aesthetic Dermatology showing keloidectomy followed by SRT had an approximate 10% recurrence rate, compared with an expected recurrence rate of more than 80% following surgical excision alone,” Mr. Sardano added.About Sensus HealthcareSensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.For more information, visit www.sensushealthcare.com.Forward-Looking StatementsThis press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases these forward-looking statements can be identified by the use of forward-looking terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that 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, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. 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. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.Contact: LHA Investor Relations Kim Sutton Golodetz 212-838-3777 kgolodetz@lhai.com

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  • What Does The Future Hold For Sensus Healthcare, Inc. (NASDAQ:SRTS)? These Analysts Have Been Cutting Their Estimates

    Today is shaping up negative for Sensus Healthcare, Inc. (NASDAQ:SRTS) shareholders, with the analysts delivering a...

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