Sensus Healthcare(SRTS) - 2025 Q3 - Quarterly Results

Financial Performance - Revenues for Q3 2025 were $6.9 million, a decrease of $1.9 million or 21.6% compared to Q3 2024[7] - Revenues for Q3 2025 were $6,884,000, a decrease of 22.1% compared to $8,839,000 in Q3 2024[38] - Net loss for Q3 2025 was $0.9 million, or $0.06 per share, compared to net income of $1.2 million, or $0.07 per diluted share, in Q3 2024[12] - Net loss for Q3 2025 was $943,000, compared to a net income of $1,215,000 in Q3 2024[38] - Adjusted EBITDA for Q3 2025 was negative $2.4 million, compared to positive $1.6 million in Q3 2024[13] - Gross profit for Q3 2025 was $2.7 million, with a gross margin of 39.1%, down from $5.2 million and 59.1% in Q3 2024[9] - Gross profit for Q3 2025 was $2,713,000, down 48.3% from $5,240,000 in Q3 2024[38] - Total operating expenses increased to $5,282,000 in Q3 2025, up 41.1% from $3,745,000 in Q3 2024[38] Inventory and Assets - The company exited Q3 2025 with nearly 100 systems in inventory, positioning it well to meet market demand[3] - Cash and cash equivalents were $24.5 million as of September 30, 2025, compared to $22.1 million at the end of 2024[14] - Cash and cash equivalents as of September 30, 2025, were $24,453,000, an increase from $22,056,000 as of December 31, 2024[36] - Total current assets decreased to $50,205,000 as of September 30, 2025, from $56,738,000 as of December 31, 2024[36] - Total stockholders' equity decreased to $51,194,000 as of September 30, 2025, down from $55,827,000 as of December 31, 2024[36] Research and Development - Research and development expenses increased to $1.8 million in Q3 2025 from $0.9 million in Q3 2024, reflecting higher costs related to billing code reimbursement and product development[11] - Research and development expenses for Q3 2025 were $1,819,000, significantly higher than $863,000 in Q3 2024, indicating increased investment in new technologies[38] Market and Expansion - The company is preparing for broader international expansion following MDSAP certification and is seeing strong interest in select markets[3] - The company shipped 16 SRT systems in Q3 2025, including three to China, down from 27 units in Q3 2024[5] Liabilities - Total liabilities increased to $7,101,000 as of September 30, 2025, compared to $6,338,000 as of December 31, 2024[36] Share Information - The weighted average number of shares used in computing net loss per share for Q3 2025 was 16,320,036[38]