Sensus Healthcare Announces Preliminary 2023 Revenue Exceeds $23 Million

Ships more than 60 SRT units in 2023
To report full financial results and hold conference call on February 8^th

BOCA RATON, Fla. , Jan. 23, 2024 (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 announces preliminary unaudited financial results for the three and 12 months ended December 31, 2023.

The company expects to report revenue for the fourth quarter of 2023 of more than $12 million, with full-year revenue expected to exceed $23 million.  

“We are delighted to report a strong uptick in our business during the fourth quarter and to achieve our guidance to ship more than 60 SRT systems during 2023,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “Our customers were impacted by inflation and, to a lesser extent, interest rates during the first three quarters of 2023. Yet as anticipated, they adjusted to the economic environment as the year progressed.  Further, utilization of superficial radiotherapy to treat non-melanoma skin cancer continued to increase, driven by favorable reimbursement, an aging population and clinical results that are as good, if not better than, Mohs surgery.”

Mr. Sardano added, “We expect heightened interest from prospective customers at three important trade shows during the first quarter of 2024, namely the Winter Clinical and the South Beach Symposium in February and the American Academy of Dermatology annual meeting in March.  Sensus will have a strong presence at these conferences and will be demonstrating our SRT systems and other products and services.”

Sensus Healthcare plans to announce 2023 fourth quarter and full-year financial results and hold an investment community conference call after the close of the U.S. stock markets on February 8, 2024.  Conference call details including participation instructions will be provided at a later date.

About Sensus Healthcare

Sensus Healthcare, Inc. is a global pioneer in the development and delivery of non-invasive treatments for skin cancer and keloids. Leveraging its cutting-edge superficial radiotherapy (SRT) technology, the company provides healthcare providers with a highly effective, patient-centric treatment platform. With a dedication to driving innovation in radiation oncology, Sensus Healthcare offers solutions that are safe, precise, and adaptable to a variety of clinical settings. 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 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 or to a greater or lesser degree 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: our ability to return to profitability; our ability to sell the number of SRT units we anticipate for the balance of 2023; the possibility that inflationary pressures continue to impact our sales; 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 doing business in China and other foreign countries; 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.; 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; 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.

To date, we do not expect that the Russian invasion of Ukraine and global geopolitical uncertainty have had any particular impact on our business, but we continue to monitor developments and will address them in future disclosures, if applicable.

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 "Introductory 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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