Thu, Nov 14, 6:44 PM (62 days ago)
Sensus Healthcare, Inc. (SRTS) reported significant improvements in its Q3 2024 financial performance compared to Q3 2023. Revenues surged 125.6% to $8.8 million, driven by increased unit sales, primarily to a major customer. Gross profit rose 160% to $5.2 million, with a gross margin of 59.1%. Operating expenses remained stable, with selling and marketing costs consistent year-over-year, while R&D expenses decreased by 18.2% due to reduced project costs. The company achieved net income of $1.2 million, a turnaround from a loss of $1.5 million in the prior year. Cash and cash equivalents slightly decreased to $22.6 million, and accounts receivable increased significantly by $6.4 million, reflecting extended payment terms with a key customer. Sensus is maintaining a strong liquidity position, supported by a revolving credit facility with Comerica Bank. The company continues to face uncertainties, including reliance on a single customer for a large portion of its revenue, and ongoing inflationary pressures affecting operational costs. Overall, Sensus shows promising growth trends, but must navigate customer concentration risks and external economic factors moving forward.