Download PDF

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.

Show Full description

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 2025 Earnings: A Year of Transition

Sensus Healthcare, Inc. reported a decline in revenues for the fourth quarter and full year 2025, with $4,900,000 and $27,500,000 in revenues, respectively, compared to $31,000,000 and $41,800,000 in the same periods of 2024. Gross profit for the quarter was $1,900,000, or 38.8% of revenues. The net loss for the quarter was $3,200,000, or a loss of $0.19 per share, missing analyst estimates of a loss of $0.055 per share. For the full year 2025, the net loss was $7,700,000, or a loss of $0.47 per share.

Publication Date: Feb -20

📋 Highlights
  • Revenue Decline:: Q4 2025 revenue fell to $4.9M from $31M in Q4 2024, with full-year 2025 revenue dropping to $27.5M from $41.8M in 2024.
  • Net Loss:: Q4 2025 net loss was $3.2M ($0.19/share), with full-year 2025 net loss of $7.7M ($0.47/share).
  • Cash Position:: Company holds $22M in cash with zero debt, and plans to expand sales/education efforts to drive 2026 growth.
  • CPT Code Impact:: New SRT/IGSRT CPT codes provide clear reimbursement terms, with international demand evidenced by 6 systems shipped in Q4.

Operational Highlights

The company's SRT and IGSRT technology has been awarded exclusive and dedicated CPT codes, providing clear reimbursement for physicians, which is expected to drive growth. International demand is strong, with six systems shipped internationally in the fourth quarter. The company plans to expand its sales force and education efforts to drive growth, and expects to achieve profitability in 2026, with Q1 revenues projected to exceed Q4 revenues.

Reimbursement Certainty and Product Mix

Reimbursement certainty has improved, and the company has a more diversified customer base. The new CPT codes provide a clear path forward for physicians and patients seeking noninvasive treatment options. The product mix is shifting, with a tendency to work with the SRT-100 product and customers acquiring handheld ultrasound devices, which provides a cost-saving for customers and better margins for the company.

Valuation and Growth Prospects

With a P/S Ratio of 2.34, the market is pricing in significant growth prospects. Analysts estimate next year's revenue growth at 33.3%. The company's EV/EBITDA ratio is -6.38, indicating that the market expects a significant improvement in profitability. With $22,000,000 in cash on hand and zero debt, Sensus Healthcare, Inc. is well-positioned to deliver growth and improved operating leverage in 2026.

Future Developments

The company is planning a broader rollout of Sentinel 2.0 and expects it to be exciting, with more information to be shared in the future. Service revenue currently accounts for about 10% of total revenue and is not expected to change. The company's financial position, with no debt and paid-for inventory, positions it for future growth.

3. NewsRoom

Card image cap

Sensus Healthcare, Inc. (SRTS) Q4 2025 Earnings Call Transcript

Feb -13

Source: seekingalpha.com

Card image cap

Sensus Healthcare (SRTS) Expected to Announce Earnings on Wednesday

Jan -28

Source: defenseworld.net

Card image cap

Sensus Healthcare (NASDAQ:SRTS) vs. Envoy Medical (NASDAQ:COCH) Financial Contrast

Jan -18

Source: defenseworld.net

Card image cap

Sensus Healthcare, Inc. (NASDAQ:SRTS) Given Average Recommendation of “Hold” by Analysts

Jan -11

Source: defenseworld.net

Card image cap

Sensus Healthcare (NASDAQ:SRTS) vs. Venus Concept (NASDAQ:VERO) Head-To-Head Comparison

Dec -28

Source: defenseworld.net

Card image cap

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

Nov -07

Source: seekingalpha.com

Card image cap

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

Nov -07

Source: zacks.com

Card image cap

Sensus Healthcare Reports Third Quarter 2025 Financial Results

Nov -06

Source: businesswire.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: 9.6

Growth: 5.6

Quality: 6.0

Yield: 0.0

Momentum: 10.0

Volatility: 0.3

1-Year Total Return ->

View Full Report
Stock-Card
Fonar

A-Score: 5.0/10

Value: 8.0

Growth: 2.7

Quality: 6.2

Yield: 0.0

Momentum: 5.0

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
UFP Technologies

A-Score: 4.2/10

Value: 2.9

Growth: 9.1

Quality: 7.0

Yield: 0.0

Momentum: 2.5

Volatility: 4.0

1-Year Total Return ->

View Full Report
Stock-Card
Electromed

A-Score: 4.0/10

Value: 1.9

Growth: 8.8

Quality: 7.4

Yield: 0.0

Momentum: 2.0

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
Sensus Healthcare

A-Score: 3.4/10

Value: 8.5

Growth: 6.6

Quality: 3.0

Yield: 0.0

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

View Full Report
Stock-Card
electroCore

A-Score: 3.2/10

Value: 7.4

Growth: 7.2

Quality: 3.8

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.1$

Current Price

4.1$

Potential

-0.00%

Expected Cash-Flows