Sensus Healthcare reports Q1 EPS (16c), consensus 2c

Reports Q1 revenue $8.3M, consensus $7.2M. “During the first quarter we invested in several important initiatives that we expect will benefit our business for the rest of the year and beyond, including in sales and marketing and in research and development. Three of the year’s most important dermatology medical conferences took place during the quarter, and we were delighted by the extremely strong response to our event at the AAD for customers and prospects that featured Olympic swimmer Katie Ledecky. Due to the event’s success, we placed orders for additional units to be manufactured to meet expected demand. In addition, to broaden awareness of our Fair Deal Agreement (FDA) program, we are now participating in a number of smaller dermatology conferences nationwide, which allows us to reach an expanded number of potential customers and spotlight this highly attractive and well-received program,” said Joe Sardano, Chairman and Chief Executive Officer of Sensus Healthcare (SRTS). We also stepped up our investment in research and development including lobbying efforts to ensure the new administration fully appreciates the value of IG-SRT to the healthcare system and patients, as well as finalizing development of the TransDermal Infusion (TDI) product with Sentinel(TM) IT Solutions capabilities and further enhancing products that incorporate IG-SRT technology. We remain confident in our growth trajectory and expect to be profitable in each of the next three quarters and for the full year, making this the right time for these investments. We expect revenue from FDAs to begin contributing meaningfully in the second half of the year and are encouraged by the 65% quarter-over-quarter increase in the number of patient treatments from FDA-based SRT systems. We affirm expectations to sign 3-5 additional multisite FDA customers this year.”