Sensus Healthcare(US:SRTS)2024-08-11 12:31Financial Data and Key Metrics Changes - Revenues for Q2 2024 more than doubled to $9.2 million, up 104% from $4.5 million in Q2 2023, driven by a higher number of SRT systems sold [9][12] - Net income for Q2 2024 was $1.6 million or $0.10 per diluted share, compared to a net loss of $0.4 million or $0.02 per share in Q2 2023 [11] - Adjusted EBITDA for Q2 2024 was $2.1 million compared to negative $1 million in Q2 2023 [11] Business Line Data and Key Metrics Changes - The company shipped 23 systems during Q2 2024, compared to 13 systems in the same quarter last year [4][9] - The Fair Deal Agreement program has 15 signed contracts, with expectations to reach up to 50 by year-end [5][17] Market Data and Key Metrics Changes - The company has expanded its international sales, with the first-ever image-guided SRT-100 Vision system sold in Asia [8] - The largest market outside the U.S. remains China, where two additional SRT-100 systems were shipped [8] Company Strategy and Development Direction - The company is focusing on a recurring revenue model through the Fair Deal Agreement, which allows customers to allocate capital to other areas of their business [5][17] - The company aims to open two to three new international territories per year, having successfully opened sales to Ireland, Guatemala, and Turkey [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential of SRT treatments for non-melanoma skin cancer and keloids, citing a 27% annual growth rate in Medicare claims for SRT [18] - The company anticipates significant recurring revenues beginning in 2025, with a strong volume projected for the second half of that year [5][18] Other Important Information - Cash and cash equivalents were $19 million as of June 30, 2024, down from $23.1 million at the end of 2023 [14][15] - The company is focused on maintaining a strong balance sheet to capitalize on growth opportunities [15] Q&A Session Summary Question: Can you provide details on the Fair Deal Agreement placements? - Management confirmed that all placements will be installed this year, primarily in Q4, allowing for revenue generation starting in early 2025 [20] Question: What is the total number of agreements signed to date? - Management confirmed that there are currently 15 agreements signed since the introduction of the program in March [22] Question: Are you supply constrained this year due to orders? - Management indicated that they have sufficient supply to meet customer needs and have placed orders for additional units [23] Question: How should we model the Fair Deal Agreements going into next year? - Management suggested that the Fair Deal Agreement provides reasonable terms for customers, making it easier for them to implement [24] Question: Can you provide a breakdown of domestic and international sales? - Management confirmed that out of 23 total sales, 20 were domestic and 3 were international [38]