Sensus Healthcare, Inc. Q4 FY2025 earnings call

• CMS awarded exclusive CPT codes for SRT and IGSRT for nonmelanoma skin cancer treatment, providing clear reimbursement.
• Ended 2025 with 18 active FDA sites and 10 pending, utilization in fair deal agreement program increased eightfold in 2025.
• International shipments in Q4 included 6 systems, including to China; international markets important for growth.
• Expect Q1 2026 system shipments to exceed Q4, aim for full-year profitability in 2026.
• Expanding sales force, refining trade show strategy, diversified customer base, and international opportunities.

Fourth quarter 2025 revenues were $4,900,000, down from $31,000,000 in Q4 2024. Cost of sales for Q4 2025 were $3,000,000, compared to $6,000,000 in Q4 2024. Gross profit for Q4 2025 was $1,900,000 (38.8% of revenues), versus $7,100,000 (54.2% of revenues) in Q4 2024. Full-year 2025 revenues were $27,500,000, down from $41,800,000 in 2024. Cost of sales for 2025 were $15,600,000, compared to $17,400,000 in 2024. Gross profit for 2025 was $11,900,000 (43.3% of revenues), versus $24,400,000 (58.4% of revenues) in 2024. Net loss for 2025 was $7,700,000. Ended 2025 with $22,100,000 in cash and cash equivalents, no debt.

• Expect Q1 2026 revenues to exceed Q4 2025 revenues.
• Aim for full-year profitability in 2026.
• Projections for 2026 exclude contributions from largest customer.

• Past issue of customer concentration, though diversified now.
• Regulatory uncertainties, e.g., with TBI product and FDA approval.
• Dependence on CMS reimbursement and market adoption of new codes.

Q: In guidance of sequential growth in Q1, does it assume nothing from largest customer?

A: Projections exclude contributions from the largest customer, but any contribution from them would be upside.

Q: Update on CDI and FDA approval?

A: Working closely with FDA on TBI, but uncertain timeline for approval.

Q: International demand outlook?

A: Strong in Asia including China, Taiwan, South Korea, Japan; Brazil regulatory progress expected this year.