Sensus Healthcare (SRTS) Q4 2024 earnings summary

Executive summary

• Achieved strong business momentum in 2024, expanding customer base and reinforcing leadership in superficial radiotherapy for dermatology.

• Achieved record quarterly shipment of 39 SRT systems and annual shipment of 115 systems, up 18% and 74% year-over-year.

• Revenues reached $13.1M for Q4 2024 (up 4% YoY) and $41.8M for the year (up 71% YoY).

• Fifth consecutive quarter of profitability; Q4 net income $1.5M ($0.09 per diluted share), full-year net income $6.6M ($0.41 per diluted share).

• Diversified into new markets, including veterinary medicine, and advanced product innovation pipeline.

Financial highlights

• Q4 2024 revenue was $13.1 million, up from $12.6 million in Q4 2023; full-year revenue reached $41.8 million, a 71% increase year-over-year.

• Q4 net income was $1.5 million ($0.09 per diluted share), down from $4.2 million ($0.26 per share) in Q4 2023; full-year net income was $6.6 million ($0.41 per share), up from $0.5 million ($0.03 per share) in 2023.

• Adjusted EBITDA for 2024 was $8.7 million, up from $0.3 million in 2023.

• Q4 gross profit was $7.1M (54.4% margin), down from $7.8M (62.3%) YoY due to a one-time discount and higher service costs.

• Ended 2024 with $22.1 million in cash and no debt.

Outlook and guidance

• Expect Q1 2025 sales to be considerably lower than Q1 2024 due to seasonality and strong prior-year comp.

• Anticipate full-year 2025 sales growth versus 2024, with significant revenue from Fair Deal Agreements in the second half.

• No formal financial guidance provided for 2025, but management remains optimistic about growth trajectory.

• Focus remains on exclusive corporate agreements, product innovation, and expanding market access.