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1. Company Snapshot

1.a. Company Description

Sensus Healthcare, Inc., a medical device company, manufactures and sells radiation therapy devices to healthcare providers worldwide.The company uses superficial radiation therapy (SRT), a low-energy X-ray technology in its portfolio of treatment devices.It offers SRT-100, a photon X-ray low energy superficial radiotherapy system that provides patients an alternative to surgery for treating non-melanoma skin cancers, including basal cell and squamous cell skin cancers, as well as other skin conditions, such as keloids; and SRT-100 Vision, which provides the user with a SRT-tailored treatment planning application that integrates the embedded high frequency ultrasound imaging module, volumetric tumor analysis, beam margins planning, and dosimetry parameters.


The company also provides SRT-100 Plus; Sentinel service program, which offers its customers protection for their systems; and in-office laser rental services.In addition, it sells disposable lead shielding replacements; and disposable radiation safety items, such as aprons and eye shields, ultrasound probe film, and disposable applicator tips to treat various sized lesions and various areas of the body.Sensus Healthcare, Inc.


was incorporated in 2010 and is headquartered in Boca Raton, Florida.

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1.b. Last Insights on SRTS

Sensus Healthcare's recent performance was positively driven by its Q3 2025 earnings release, where the company reported a narrower-than-expected loss of $0.06 per share, surpassing the Zacks Consensus Estimate of a loss of $0.12. The company's revenue also topped estimates. Additionally, the establishment of coding by CMS validating superficial radiation therapy (SRT) for treating non-melanoma skin cancer is a positive development. These factors have contributed to increased investor confidence. (Source: Zacks, Business Wire)

1.c. Company Highlights

2. Sensus Healthcare's Q3 2025 Earnings: A Strong Foundation for Growth

Sensus Healthcare reported revenues of $6.9 million for the third quarter of 2025, a decline from $8.8 million in the same period last year, primarily driven by a lower number of units sold to a large customer. However, the company's net loss was $4.6 million, or $0.28 per share, and adjusted EBITDA was negative $6.7 million for the first 9 months of 2025. The actual EPS loss was $0.06 for the quarter, beating estimates of a loss of $0.11. The company's cash position remained strong, ending the quarter with $24.5 million in cash and no debt.

Publication Date: Nov -29

📋 Highlights
  • CPT Code Impact:: New CPT codes for superficial radiotherapy in nonmelanoma skin cancer and keloids validated with reimbursement certainty, driving demand for SRT technology.
  • System Shipments:: 16 SRT systems shipped in Q3 (3 to China), with over 900 systems sold globally since platform launch.
  • Balance Sheet Strength:: $24.5 million in cash and no debt at quarter-end, driven by improved working capital management.
  • Reimbursement Boost:: SRT-100 reimbursement increased 340%, Vision product utilization rose 152% year-to-date, driving future sales and margins.
  • International Expansion:: Targeting 20% international revenue within 12–24 months, with regulatory submissions planned in China for Vision product.

Reimbursement Changes to Drive Utilization and Sales

The company highlighted the significant impact of the newly announced CPT codes for superficial radiotherapy in nonmelanoma skin cancer and keloids, which is expected to drive strong interest and demand for the company's SRT technology. The base SRT-100 unit will see a 340% increase in reimbursement, while the Vision product will also see a massive increase. This change is expected to impact utilization, with a 20% increase in the third quarter and a 152% increase year-to-date. As Joe Sardano, Chairman and CEO, noted, "this validation, combined with reimbursement certainty, is expected to drive strong interest and demand for our SRT technology."

Product Pipeline and International Expansion

The company is developing its product pipeline, including the Transdermal Infusion (TDI) system and the Sentinel software platform, which provides secure data storage, remote diagnostics, and real-time service support. Internationally, Sensus Healthcare is expanding its presence, particularly in Japan, China, and Taiwan, with plans to grow its international revenue base to 20% of total revenue within the next 12-24 months.

Valuation and Growth Prospects

Analysts estimate next year's revenue growth at 29.1%. The current valuation metrics indicate a P/S Ratio of 1.9 and an EV/EBITDA of -24.25. The company's strong cash position, improving reimbursement landscape, and expanding product pipeline position it for growth. With a pent-up demand of 11 pending sites expected to go live in the fourth quarter, Sensus Healthcare is poised for a strong finish to the year.

3. NewsRoom

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Sensus Healthcare, Inc. (SRTS) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

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Sensus Healthcare, Inc. (SRTS) Reports Q3 Loss, Tops Revenue Estimates

Nov -07

Source: zacks.com

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Sensus Healthcare Reports Third Quarter 2025 Financial Results

Nov -06

Source: businesswire.com

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Sensus Healthcare, Inc. (SRTS) Falls More Steeply Than Broader Market: What Investors Need to Know

Oct -16

Source: zacks.com

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SENSUS INVESTIGATION REMINDER: Bragar Eagel & Squire, Reminds Sensus Healthcare Investors to Contact the Firm Regarding Ongoing Investigation on Behalf of Sensus Stockholders

Oct -09

Source: globenewswire.com

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Sensus Healthcare, Inc. (SRTS) Stock Slides as Market Rises: Facts to Know Before You Trade

Oct -08

Source: zacks.com

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Sensus Healthcare, Inc. (SRTS) Surpasses Market Returns: Some Facts Worth Knowing

Sep -29

Source: zacks.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sensus Healthcare, Inc. - SRTS

Sep -28

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.67%)

6. Segments

Radiation Therapy Devices

Expected Growth: 6.5%

Sensus Healthcare's 6.5% growth in Radiation Therapy Devices is driven by increasing demand for non-invasive cancer treatments, advancements in superficial radiation therapy, and growing adoption of ScarFree treatments for keloid and hypertrophic scars. Additionally, expanding product offerings and strategic partnerships contribute to the company's growth momentum.

Service

Expected Growth: 7.5%

Sensus Healthcare's 7.5% growth is driven by increasing adoption of non-invasive and minimally invasive treatments, rising demand for skin cancer treatments, and expansion into new markets. Additionally, the company's focus on research and development, strategic partnerships, and growing sales force contribute to its growth momentum.

7. Detailed Products

SRT-100 Vision

A non-invasive, image-guided superficial radiation therapy system for treating non-melanoma skin cancer and keloids.

SRT-100 Plus

An advanced superficial radiation therapy system for treating non-melanoma skin cancer and keloids, with enhanced features and capabilities.

SRT-100 Vision RT

A real-time tracking and monitoring system for superficial radiation therapy, ensuring accurate and precise treatment delivery.

Sensus Healthcare Services

Comprehensive services and support for Sensus Healthcare's products, including training, maintenance, and technical support.

8. Sensus Healthcare, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Sensus Healthcare, Inc. operates in a niche market with limited substitutes, but there are alternative treatments and products that could potentially substitute their offerings.

Bargaining Power Of Customers

Sensus Healthcare, Inc. has a diverse customer base, and no single customer accounts for a significant portion of their revenue, reducing the bargaining power of customers.

Bargaining Power Of Suppliers

Sensus Healthcare, Inc. relies on a few key suppliers for their products, but they have some flexibility to switch suppliers if needed, reducing the bargaining power of suppliers.

Threat Of New Entrants

The medical device industry has high barriers to entry, including regulatory hurdles and significant capital requirements, making it difficult for new entrants to enter the market.

Intensity Of Rivalry

The medical device industry is highly competitive, with many established players competing for market share, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 1.58%
Debt Cost 3.95%
Equity Weight 98.42%
Equity Cost 8.56%
WACC 8.49%
Leverage 1.60%

11. Quality Control: Sensus Healthcare, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Biotricity

A-Score: 5.2/10

Value: 9.4

Growth: 5.6

Quality: 6.0

Yield: 0.0

Momentum: 10.0

Volatility: 0.3

1-Year Total Return ->

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Fonar

A-Score: 4.9/10

Value: 7.7

Growth: 2.3

Quality: 6.1

Yield: 0.0

Momentum: 6.0

Volatility: 7.3

1-Year Total Return ->

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Electromed

A-Score: 4.8/10

Value: 2.9

Growth: 8.7

Quality: 7.8

Yield: 0.0

Momentum: 6.5

Volatility: 3.0

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UFP Technologies

A-Score: 4.0/10

Value: 3.1

Growth: 9.2

Quality: 6.6

Yield: 0.0

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Sensus Healthcare

A-Score: 3.4/10

Value: 7.5

Growth: 6.6

Quality: 4.2

Yield: 0.0

Momentum: 0.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
electroCore

A-Score: 3.3/10

Value: 7.2

Growth: 7.2

Quality: 3.6

Yield: 0.0

Momentum: 0.5

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.83$

Current Price

3.83$

Potential

-0.00%

Expected Cash-Flows