The following is a summary of the Sensus Healthcare, Inc. (SRTS) Q2 2024 Earnings Call Transcript:
Financial Performance:
Sensus Healthcare reported a strong Q2 2024 with a revenue of $9.2 million, representing a 104% increase compared to $4.5 million in Q2 2023.
Net income for Q2 2024 was $1.6 million, a significant improvement from a net loss of $0.4 million in Q2 2023.
Adjusted EBITDA for Q2 2024 was $2.1 million, compared to negative $1 million in Q2 2023.Gross profit margin improved to 58.7% in Q2 2024 from 57.9% in Q2 2023.
Business Progress:
Sensus Healthcare shipped 23 SRT systems during Q2 2024, compared to 13 in the year-ago quarter, demonstrating significant growth in product demand.
They introduced the Fair Deal Agreement, a recurring revenue model, with 15 contracts signed since its launch in March 2024, projecting up to 50 by year-end.
The company made its first sale of the image-guided SRT-100 Vision system in Asia, indicating successful market expansion efforts.
Opportunities:
The Fair Deal Agreement and its expected expansion to up to 50 contracts by the end of the year represent a substantial opportunity for recurring revenue growth starting 2025.
Expansion into international markets, such as Asia, demonstrates the company's growth potential outside the U.S.
Risks:
Delayed FDA response times for the approval of the TransDermal Infusion system could impact new product rollouts and revenue streams from this innovation.
More details: Sensus Healthcare IR
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