Sensus Posts Record Fourth Quarter, Beats Top and Bottom Line Estimates

Edward Kim  |

Image source: Sensus Healthcare

Sensus Healthcare  SRTS reported record revenues for the fourth quarter of 2021 on Thursday.

The Boca Raton, Florida-based medical device company posted revenues of $13.0 million, up 156% over the prior year's Q4. Net income came in at $5.3 million, or $0.32 per diluted share, up 430% over the prior year's quarter. The street was looking for just $0.14.

Sensus reported adjusted EBITDA of $5.6 million, up 330% over Q4 2020.

For the full year 2021, the company reported $27.0 million in revenues, up 182% over 2020, and earnings per diluted share of $0.25, compared with a loss per share of $0.42 in 2020.

The company specializes in cost-effective, non-invasive and minimally-invasive treatment systems for oncological and non-oncological skin conditions.

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"Record revenues for the fourth quarter were significantly higher than for any quarter in the company’s history," said Sensus Chairman and CEO Joe Sardano. "We are comfortable that this momentum will continue through 2022 as so many of our initiatives are being very well-executed."

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Key milestones achieved

Signed exclusive US distribution agreement for TransDermal Infusion System for needle-less delivery of aesthetic compounds.

Shipped a record 35 systems including three SRT-100 systems to China.

Received a five-year license renewal for the SRT-100 from the Ministry of Health of the People’s Republic of China.

Investment thesis

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Image source: BigCharts

Sensus stock has held up much better than the market ahead of the earnings release and is now back to levels last seen nearly three years ago.

Even with the recent move, the stock carries a market capitalization of only $130 million. Given the demonstrated demand for the company's devices and a market that continues to grow, we think that the current stock price doesn't reflect the potential of this company.

  • Patented technology adaptable to other skin conditions and other cancers
  • Large, growing, underserved market
  • Worldwide installed base currently at 529 systems
  • Recurring revenue model from service contracts

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Source: Equities News

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