Q3 2024 Sensus Healthcare Inc Earnings Call Transcript
Key Points
- Revenues more than doubled year-over-year for the second consecutive quarter, reaching $8.8 million in Q3 2024.
- Sensus Healthcare Inc (SRTS) maintained profitability despite the summer seasonality, with a net income of $1.2 million compared to a net loss in the previous year.
- The company signed a significant Fair Deal agreement with Platinum Dermatology Partners, covering 130 clinical sites in the US, which is expected to contribute to future growth.
- Gross profit margin improved to 59.3% in Q3 2024 from 51% in the same quarter last year.
- Sensus Healthcare Inc (SRTS) continues to expand its global presence, shipping systems to international markets such as Israel and engaging in the veterinary market.
- The accidental disclosure of financial results during live trading hours was a procedural setback.
- The hospital market, while promising, has a longer sales cycle, potentially delaying revenue realization.
- General and administrative expenses increased slightly due to higher compensation and bad debt expenses.
- The Fair Deal agreement, while promising, does not immediately impact sales numbers as it is based on recurring revenue.
- The company's largest customer represents about 50% of placements, indicating a potential risk of over-reliance on a single client.
Good afternoon, and welcome to the Sensus Healthcare third-quarter 2024 financial results conference call. (Operator Instructions)
Please note this event is being recorded.
I would now like to turn the conference over to Kim Golodetz with Alliance Advisors IR. Please go ahead.
Thank you. This is Kim Golodetz with Alliance Advisors IR. Thank you all for participating in today's call. Joining me from Sensus Healthcare are Joe Sardano, Chairman and Chief Executive Officer; Michael Sardano, President and General Counsel; and Javier Rampolla, Chief Financial Officer. As a reminder, some of the matters that will be discussed during today's call contain forward-looking statements within the meaning of federal securities laws.
All statements other than historical facts that address activities Sensus Healthcare assumes, plans, expects, believes, intends or anticipates and other similar expressions will, should or may occur in the future are forward-looking statements. The forward-looking
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