Financial Performance - Revenues for Q4 2024 were 12.6 million in Q4 2023, and full-year revenues reached 24.4 million in 2023[5][12] - Net income for Q4 2024 was 0.09 per diluted share, marking the fifth consecutive quarter of profitability, compared to 0.26 per diluted share, in Q4 2023[9][16] - Gross profit for Q4 2024 was 7.8 million, or 62.3% of revenues, in Q4 2023, primarily due to a one-time discount and higher service costs[7] - Adjusted EBITDA for Q4 2024 was 5.7 million in Q4 2023, reflecting higher income tax expense in the prior year[10] - Gross profit for the year 2024 was 14,060,000 in 2023, representing a growth of 73%[30] - Net income for Q4 2024 was 4,210,000 in Q4 2023, indicating a decrease of 63%[30] - Operating expenses for Q4 2024 totaled 2,244,000 in Q4 2023, an increase of 140%[30] - The company reported a basic net income per share of 0.26 in Q4 2023[30] Assets and Liabilities - Cash and cash equivalents at year-end 2024 were 23.1 million in 2023[11] - Total current assets rose to 49,528,000 in 2023, reflecting an increase of 15%[31] - Accounts receivable increased significantly to 10,645,000 in 2023, marking an increase of 85%[31] - Total liabilities increased to 4,868,000 in 2023, representing a rise of 30%[31] - Retained earnings grew to 6,787,000 in 2023, indicating a growth of 98%[31] - Cash and cash equivalents decreased to 23,148,000 in 2023, a decline of 5%[31] Product and Market Developments - A record 39 SRT systems were shipped in Q4 2024, representing an 18% increase year-over-year, with a total of 115 systems shipped for the year, up 74%[5][12] - The company plans to re-submit its TDI 510(k) application in the first half of 2025, indicating ongoing product innovation efforts[3] - The Fair Deal Agreement program is expected to contribute to revenues in the second half of 2025, with multiple new agreements in the pipeline[2] - The company anticipates that Q1 2025 sales could be considerably lower than Q1 2024, but expects full-year sales growth in 2025 compared to 2024[4] Research and Development - Research and development expenses for 2024 were 0.5 million from 2023, driven by higher compensation and product development costs[15]
Sensus Healthcare(SRTS) - 2024 Q4 - Annual Results