Sensus Healthcare(US:SRTS)2026-03-04 17:15Financial Performance - Revenues for 2025 were $27.5 million, a decrease of $14.3 million, or 34%, from $41.8 million in 2024, primarily due to a lower number of units sold (70 in 2025 vs. 115 in 2024) and reduced sales to the largest customer[142]. - Gross profit in 2025 was $11.9 million, or 43.3% of revenue, down $12.5 million, or 51%, from $24.4 million, or 58.4% of revenue in 2024, driven by lower sales and higher servicing costs[144]. - Net loss for 2025 was $7.7 million, compared to a net income of $6.6 million in 2024, resulting in a net income per share of $(0.47) for 2025[141]. Operating Expenses - Operating expenses increased to $22.2 million in 2025, up $5.8 million, or 35%, from $16.3 million in 2024, with significant increases in research and development expenses by $3.6 million, or 86%[145][146]. Cash and Receivables - Cash and cash equivalents remained stable at $22.1 million as of December 31, 2025, unchanged from the previous year[147]. - Accounts receivable decreased by $13.7 million, or 70%, to $6.0 million in 2025, primarily due to reduced sales[148]. Inventory and Future Expectations - Inventories increased by $4.5 million, or 44%, to $14.6 million in 2025, reflecting anticipation of future sales growth[148]. - The company expects to return to profitability in 2026 by increasing sales and managing operational expenses, despite uncertainties such as decreased demand from the largest customer and inflation[138]. - Research and development expenses are expected to be substantially lower in 2026 compared to 2025, as the company focuses on product development and reimbursement lobbying costs[146]. Cash Flow - The company reported net cash provided by operating activities of $0.5 million in 2025, contrasting with a net cash used of $0.8 million in 2024[153].