One-glance verdict
Overvalued
$1.41 our estimate vs market $2.94
Wall Street consensus: $5.38 (281.9% higher than our fair-value estimate)
109% above our estimate, beyond the bull case
Fundamentals snapshot
Sensus Healthcare, Inc.
SRTS · NCM · Healthcare · Medical Devices
Current price
$2.94
52-week range
$2.66 - $5.49
Market cap
$48.40M
Balance sheet
Healthy
-5,153.50x Concerning
Net cash $14.84M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Free cash flow was positive in 1/10 years.
- Risk Operating margin compressed from 33.3% to -138.9% over 3 years.
- Risk Return on equity was -34.8% last year — the company lost money on shareholders' equity.
What this company does
Sensus Healthcare, Inc.
Sensus Healthcare sells medical devices that use low-energy X-rays to treat common skin cancers, giving patients an alternative to surgery. The company earns money by selling these machines to dermatologists and hospitals, and then continues to profit from service plans and disposable supplies needed for each treatment. This creates a source of recurring revenue (predictable income from ongoing services), which can provide more stable income than relying only on one-time equipment sales.
How the company got here
Sensus Healthcare was founded in 2010 by a team with deep experience in bringing new medical technologies to market. They saw an opportunity in dermatology to offer a non-surgical alternative for treating common skin cancers and other skin conditions. For decades, surgery had been the primary option, and the founders believed there was a better way. The company focused on a technology called superficial radiation therapy (SRT), a low-energy X-ray treatment, and went public in 2016 to further fund its growth.
What it actually does
Sensus Healthcare makes and sells medical devices that use a special kind of low-energy X-ray to treat skin conditions. Think of it as a very precise and targeted radiation treatment that only goes skin-deep. Their main focus is on treating non-melanoma skin cancers, which are very common, and keloids, which are a type of raised scar. The big benefit for patients is that it's a non-invasive alternative to surgery, meaning no cutting, stitches, or risk of infection.
Medical Device Sales
This is the company's main business, making up most of its revenue (the total money it brings in from sales). Sensus builds and sells its SRT-100, SRT-100+, and SRT-100 Vision machines directly to dermatology practices, plastic surgeons, and hospitals. These customers buy the machines to offer their patients a non-surgical treatment option for certain skin cancers and keloids. The company also sells related disposable items, like protective shields needed during treatment.
Service and Recurring Revenue
Beyond the initial sale of a machine, Sensus makes money through ongoing services and rentals, which provides a more predictable stream of income. This includes service contracts, called the Sentinel program, that protect the customer's investment in the equipment. They also offer a 'Fair Deal Agreement' program where instead of buying a machine upfront, a clinic can place one and Sensus earns revenue as it's used to treat patients. Recently, they introduced Sensus Link, a software service that helps clinics manage treatments and operations, adding another source of recurring revenue.
Aesthetic Laser Systems
A smaller part of the business involves selling a line of aesthetic laser systems. These devices are used for cosmetic procedures that you might see at a dermatologist's office or medical spa, such as hair removal, tattoo removal, and skin rejuvenation. This allows Sensus to offer a wider range of products to its dermatology customers, covering both medical and aesthetic treatments. This segment broadens their market but is not their primary focus compared to the SRT systems for cancer treatment.
What management is betting on now
Management is heavily focused on increasing the adoption of its SRT technology, especially after securing dedicated insurance reimbursement codes, which makes it easier for doctors to get paid for the treatments. A key priority is expanding what they call recurring revenue (the predictable income from service contracts and usage fees), which makes the business more stable than relying only on one-time machine sales. They are also pushing for international growth, particularly in markets like China and the Asia-Pacific region, to diversify their customer base. Finally, they are investing in educating doctors and patients about SRT as a safe and effective alternative to surgery to drive more demand.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$3.62M
FY2024 Q4
$-1.12M
FY2025 Q1
$-2.68M
FY2025 Q2
$3.09M
FY2025 Q3
$2.29M
FY2025 Q4
$-2.37M
FY2026 Q1
$-3.76M
FY2026 Q2
$-3.14M
Revenue
$2.29M
Net income
$-8.75M
Diluted EPS
-0.53
Operating cash flow
$-3.13M
Free cash flow
$-3.14M
Fetching…
Sources
Revenue
$3.39M
Net income
$-2.63M
Diluted EPS
-0.16
Operating cash flow
$-3.75M
Free cash flow
$-3.76M
Fetching…
Sources
Revenue
$4.94M
Net income
$-3.17M
Diluted EPS
-0.19
Operating cash flow
$-2.21M
Free cash flow
$-2.37M
Fetching…
Sources
Revenue
$6.88M
Net income
$-943.00K
Diluted EPS
-0.06
Operating cash flow
$2.29M
Free cash flow
$2.29M
Fetching…
Sources
Revenue
$7.32M
Net income
$-1.04M
Diluted EPS
-0.06
Operating cash flow
$3.12M
Free cash flow
$3.09M
Fetching…
Sources
Revenue
$8.34M
Net income
$-2.57M
Diluted EPS
-0.16
Operating cash flow
$-2.68M
Free cash flow
$-2.68M
Fetching…
Sources
Revenue
$13.07M
Net income
$1.55M
Diluted EPS
0.10
Operating cash flow
$-827.00K
Free cash flow
$-1.12M
Fetching…
Sources
Revenue
$8.84M
Net income
$1.22M
Diluted EPS
0.07
Operating cash flow
$3.95M
Free cash flow
$3.62M
Fetching…
Sources
Is it cheap or expensive?
Fair value $1.41 vs current price $2.94
Wall Street consensus is the average analyst price target: $5.38 (281.9% higher than our fair-value estimate).
Our most-likely fair value is $1.41 a share — about 52.1% below today's price of $2.94, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $14.8M - more cash than debt. Interest coverage -5153.5x.
Net debt
$-14.84M
Interest coverage
-5,153.50x
Sensus Healthcare, Inc. is healthier than 0 of 1 peers on balance-sheet leverage.
Healthy
Worse cushion
Baseline
Better cushion
SRTS
BASELINE
Sensus Healthcare, Inc.
Total debt $343.00K Interest coverage -5,153.50x This is the baseline the peer rows are being compared against.
What you should know
The case for and against SRTS
1 Reward
2 Risks
Rewards
-
Free cash flow was positive in 1/10 years.
Risks
-
Operating margin compressed from 33.3% to -138.9% over 3 years.
-
Return on equity was -34.8% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-16.96x
P/B
1.31x
P/S
2.76x
EV/EBITDA
-2.61x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
36.4%
Operating margin
-138.9%
Net margin
-88.4%
ROE
-34.8%
ROA
-16.6%
Health
Liquidity and balance-sheet strength
Debt / equity
0.01x
Current ratio
8.71x
Quick ratio
3.90x
Total debt
$343.00K
Total cash
$15.19M
Growth
How the business has been compounding
Revenue TTM
$17.51M
Revenue 5Y CAGR
0.4%
EPS TTM
-0.94
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-6.80M
Free CF TTM
$332.00K
FCF margin
1.9%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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