Sensus Healthcare, Inc. (SRTS) Bundle
A Brief History of Sensus Healthcare, Inc. (SRTS)
Foundation and Mission
Foundation and Mission
Sensus Healthcare, Inc. was founded in 2010 in Boca Raton, Florida. The company focuses on developing innovative treatment solutions for skin cancer and other dermatological conditions through advanced technologies.
Key Products and Technologies
The primary product line includes the Sensus device, designed for non-invasive treatment of non-melanoma skin cancer using superficial radiation therapy. This treatment method offers an effective alternative to traditional surgical approaches.
Financial Overview
As of the fiscal year ending December 31, 2022, Sensus Healthcare reported a total revenue of approximately $10.6 million. The company has seen growth compared to $7.5 million in 2021.
| Year | Total Revenue | Net Income | Operating Expenses |
|---|---|---|---|
| 2022 | $10.6 million | ($1.5 million) | $12.1 million |
| 2021 | $7.5 million | ($1.8 million) | $9.4 million |
| 2020 | $5.6 million | ($1.2 million) | $7.8 million |
Stock Performance
As of October 2023, Sensus Healthcare's stock price is approximately $2.15 per share. The company's market capitalization stands at around $30 million, reflecting fluctuations in investor sentiment and market conditions.
Research and Development Initiatives
Sensus Healthcare invests significantly in research and development, with reported R&D expenses of $2.5 million in 2022. The focus remains on enhancing existing products and exploring new applications for radiation therapy.
Market Reach and Sales Strategy
The company markets its products primarily in the United States, with a growing international presence. In 2022, Sensus Healthcare expanded its sales team, leading to a 25% increase in new customer acquisitions compared to the previous year.
Recent Partnerships and Collaborations
In 2023, Sensus Healthcare entered into a strategic partnership with a prominent medical technology firm to enhance its distribution channels and broaden market access.
Future Outlook
The company aims to achieve annual revenues exceeding $20 million by 2025 through product diversification and increased market penetration.
A Who Owns Sensus Healthcare, Inc. (SRTS)
Corporate Structure
Sensus Healthcare, Inc. (SRTS) operates as a publicly traded company, and its shares are listed on the NASDAQ. The company focuses on innovative healthcare solutions, particularly in the dermatology sector.
Major Shareholders
As of the latest filings, the ownership of Sensus Healthcare, Inc. includes several key institutional and individual shareholders. The following table details the major shareholders and their respective percentages of ownership:
| Shareholder | Ownership Percentage | Type of Shareholder | Average Shares Held |
|---|---|---|---|
| BlackRock, Inc. | 9.60% | Institutional | 1,500,000 |
| Vanguard Group, Inc. | 8.25% | Institutional | 1,200,000 |
| Dimensional Fund Advisors LP | 7.10% | Institutional | 1,000,000 |
| Andrew S. G. Kacynski | 5.50% | Individual | 800,000 |
| Peter N. D'Antonio | 4.90% | Individual | 750,000 |
Insider Ownership
Insider ownership plays a significant role in the governance of Sensus Healthcare. The following table outlines the top executives and their ownership stakes:
| Name | Position | Ownership Percentage | Shares Held |
|---|---|---|---|
| Joseph C. Jachinowski | CEO | 2.15% | 300,000 |
| Mark W. Kacynski | COO | 1.75% | 250,000 |
| Elaine E. Kacynski | CFO | 1.40% | 200,000 |
| Thomas S. Kacynski | Board Member | 0.95% | 150,000 | Linda M. Kacynski | Board Member | 0.80% | 120,000 |
Market Capitalization and Stock Performance
As of the latest data, Sensus Healthcare has a market capitalization of approximately $80 million. The stock performance over the past year can be summarized as follows:
| Metric | Value |
|---|---|
| 52-Week High | $4.50 |
| 52-Week Low | $1.50 |
| Current Stock Price | $2.90 |
| Price-to-Earnings Ratio (P/E) | N/A |
| Volume (Average) | 50,000 shares |
Reporting and Regulatory Filings
Sensus Healthcare is required to file regular reports with the SEC, including annual (10-K) and quarterly (10-Q) reports. Key financial indicators from the most recent filings include:
| Financial Metric | Value |
|---|---|
| Revenue (Last Fiscal Year) | $20 million |
| Net Income | $2 million |
| Total Assets | $35 million |
| Total Liabilities | $10 million |
| Cash and Cash Equivalents | $5 million |
Conclusion on Ownership Dynamics
The ownership structure of Sensus Healthcare illustrates a combination of institutional investment along with significant insider stakes, suggesting a diversified approach to governance and market support.
Sensus Healthcare, Inc. (SRTS) Mission Statement
Core Mission
Core Mission
Sensus Healthcare, Inc. is dedicated to advancing treatment options for non-melanoma skin cancers and other conditions through innovative medical technologies and superior patient care. The organization's mission emphasizes providing effective, safe, and patient-friendly solutions that improve treatment outcomes.
Vision Statement
The vision of Sensus Healthcare is to become a global leader in the development and provision of proprietary medical devices that are individually tailored to enhance the quality of care for patients suffering from skin cancer and similar ailments.
Values
- Innovation: Committed to continuous improvement and innovation in therapeutic approaches.
- Integrity: Engaging in transparent and ethical business practices.
- Compassion: Prioritizing patient needs and experiences in all operational aspects.
- Collaboration: Building partnerships within the healthcare community to improve patient accessibility.
Financial Overview
As of the most recent fiscal year, Sensus Healthcare reported notable figures:
| Metric | Amount (USD) |
|---|---|
| Revenue | $10.8 million |
| Gross Profit | $4.6 million |
| Net Income | –$1.2 million |
| Total Assets | $18.5 million |
| Total Liabilities | $5.6 million |
| Market Capitalization | $51.7 million |
Strategic Objectives
- To expand market penetration in the United States and internationally.
- To enhance product offerings to better meet the evolving needs of healthcare providers and patients.
- To maintain a commitment to research and development to drive future growth.
- To achieve operational efficiencies that positively impact the bottom line.
Recent Achievements
In 2023, Sensus Healthcare achieved significant milestones:
- Launched the SRTS-3 device, a new treatment option for basal cell carcinoma, increasing treatment options by 25%.
- Expanded sales team by 30%, resulting in a greater reach to healthcare providers.
- Secured $5 million in funding to support ongoing R&D initiatives.
Market Position
As of Q3 2023, Sensus Healthcare holds a competitive position in the dermatology device market:
| Competitor | Market Share (%) |
|---|---|
| Sensus Healthcare | 15% |
| Other Competitors | 85% |
Patient-Centric Approach
Sensus Healthcare places a strong emphasis on patient experience, with over 90% of surveyed patients reporting satisfaction with their treatment outcomes. The commitment to enhancing patient pathways is evident in the following areas:
- Comprehensive support post-treatment.
- Patient education initiatives regarding skin cancer prevention.
- Accessibility programs for underserved communities.
Future Directions
Looking forward, Sensus Healthcare aims to:
- Increase investment in digital health technologies to improve treatment delivery.
- Forge new partnerships with healthcare institutions for clinical trials.
- Expand its footprint in emerging markets where skin cancer rates are on the rise.
How Sensus Healthcare, Inc. (SRTS) Works
Overview of Sensus Healthcare, Inc.
Sensus Healthcare, Inc. (SRTS) is a medical device company specializing in the treatment of skin cancer and keloids through its proprietary Sensus treatment systems. The company was founded in 2010 and is publicly traded on the NASDAQ under the symbol SRTS.
Product Offerings
The core product offerings include:
- Superficial Radiation Therapy (SRT) systems
- Mobile treatment units for SRT
- Consultative services for treatment planning
Operating Model
Sensus Healthcare operates with a direct sales model, along with partnerships with distributors within the dermatology and oncology sectors. The primary target market includes hospitals, outpatient clinics, and private practice dermatologists.
Financial Performance
As of Q2 2023, Sensus Healthcare reported the following financial statistics:
| Financial Metric | Value (USD) |
|---|---|
| Total Revenue | 3.7 million |
| Net Income | -1.3 million |
| Gross Profit | 2.5 million |
| Operating Expenses | 3.8 million |
| Cash and Cash Equivalents | 6.2 million |
Market Position and Growth
Sensus Healthcare is positioned within a niche market with significant potential due to the rising incidence of skin cancer. The market for non-invasive skin cancer treatments is projected to grow at a CAGR of 5.6% from 2022 to 2030.
Research and Development
The company allocates approximately 12% of its total revenue to research and development to enhance its existing product line and develop new solutions.
Sales Strategy
The sales strategy includes:
- Direct engagement with healthcare professionals
- Participation in medical conferences and trade shows
- Educational seminars to demonstrate the efficacy of SRT systems
Recent Developments
In Q1 2023, Sensus Healthcare announced a partnership with a major academic medical center aimed at expanding the reach of its SRT technology. This partnership is expected to lead to an anticipated increase in product adoption by 15% in the next fiscal year.
Stock Performance
As of October 2023, Sensus Healthcare’s stock price stands at $2.45 per share, with a market capitalization of approximately $62 million. The company’s stock has seen a year-to-date increase of 30%.
Regulatory Environment
All SRT products are FDA-cleared, and Sensus Healthcare maintains compliance with ISO 13485 certification for its quality management systems.
Challenges and Risks
The company faces various challenges, including:
- Regulatory hurdles in international markets
- Competition from other technologies and treatment modalities
- Market adoption rates
Future Outlook
Looking ahead, management has projected an increase in revenue growth of 20% year-over-year, driven by product innovation and expanded market penetration.
How Sensus Healthcare, Inc. (SRTS) Makes Money
Revenue Streams
Revenue Streams
Sensus Healthcare generates revenue primarily through the sale of its proprietary products and services, primarily focusing on the dermatology and oncology markets. The following revenue streams are pivotal:
- Sales of Sensus' SRT (Superficial Radiation Therapy) devices
- Recurring revenue from consumables and services
- Sales from partnerships and collaborations
- Training and educational programs for practitioners
Product Sales
The major product line of Sensus Healthcare consists of devices like the SRT-100 and SRT-100 Vision. In 2022, Sensus reported product sales of approximately $6.9 million.
Recurring Revenue
Recurring revenue is a significant part of Sensus’ operations. Consumables, such as treatment units, are essential for continued operation of the SRT devices, contributing to annual revenues. In 2022, the recurring revenue from consumables accounted for roughly $3.5 million.
Partnerships and Collaborations
Sensus Healthcare establishes strategic partnerships to expand its market reach. For instance, partnerships with medical groups and clinics allow Sensus to enhance distribution channels. In 2022, revenues from collaborations were reported at around $1.2 million.
Market Position and Growth
As of October 2023, Sensus Healthcare had a market capitalization of approximately $46 million. The company aims to leverage market growth driven by increasing awareness and demand for non-invasive treatment options.
Financial Performance
The following table summarizes Sensus Healthcare's financial performance metrics:
| Metric | 2022 Amount | 2021 Amount | Growth Rate |
|---|---|---|---|
| Total Revenue | $11.6 million | $8.1 million | 43.2% |
| Net Income | ($4.4 million) | ($2.8 million) | 57.1% |
| EBITDA | ($3.8 million) | ($2.1 million) | 80.9% |
| Gross Margin | 61% | 65% | -6% |
Market Trends
The demand for SRT devices is influenced by the rising prevalence of skin cancer. According to the American Cancer Society, in 2022, about 99,780 new cases of melanoma were expected to be diagnosed in the United States. This statistic highlights the market potential for Sensus Healthcare.
Customer Base
Sensus Healthcare primarily caters to dermatology clinics, oncology centers, and hospitals. As of 2023, Sensus Healthcare has established partnerships with over 600 clinics.
Geographical Presence
Sensus Healthcare is expanding its geographical reach. The revenue distribution in 2022 indicated that approximately 65% of their sales came from North America, while 35% came from international markets.
Investment and Funding
In 2022, Sensus Healthcare closed a $5 million private placement to bolster its operational capabilities and market expansion efforts.
Future Projections
Analysts project that Sensus Healthcare’s revenue will grow at a compound annual growth rate (CAGR) of approximately 25% through 2025.
Financial Challenges
Despite growth, Sensus faces challenges, including competition and regulatory hurdles, which could impact profitability and market share.
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