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| Statement |
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| We'll follow those conferences up with the American Academy of Dermatology's Annual Meeting being held March 8 through 12 in San Diego, where we will have a very strong presence |
| We can show it as a works in progress, but there's, once we get FDA clearance for that, I think it's going to generate some good revenue |
| Our fourth quarter financial results reflects our customers' acclimation to an inflationary environment as well as their understanding, of the compelling financial proposition, and better patient outcomes of SRT to treat non-melanoma skin cancer and keloids |
| Sales improved substantially as we shipped 33 systems during the quarter, including three SRT systems outside the United States |
| how does this look for the first quarter and beyond for 2024? Well, you know, of course we have excitement as we're moving into the New Year, because we ended the year with some great momentum |
| And I think we did a little better than where the market actually was leading us from the first, second, and third quarter, and then when we got into the fourth quarter |
| This increased utilization, is being driven by favorable reimbursement, an aging population, and clinical results that are at least as good, if not better, than most surgery |
| Q4, is this the turn and back? We're going to be, 2024, it's going to be back in a positive momentum from here |
| Take all that away, and we're enthusiastic about what we're doing |
| So we're excited |
| They have an excellent format and an excellent model that works very, very well for the customer base that they have |
| And so, I have to say that we're very enthusiastic |
| We are confident that Sensus is positioned for success and we have a great team to drive growth and implement our strategies |
| Our systems are well positioned in a large and largely untapped market |
| It's a good cash flow for the doctors |
| We continue, to support our international distributors across Asia, Europe, and the Middle East, and we are developing a number of promising opportunities, to supplement our strong demand in China |
| As mentioned last quarter, we've had good success in this area, having recently placed an SRT system at Cape Cod Hospital |
| And it is a good opportunity to complement the existing offerings that we have in fair market value leases, as well as the other SRT-100 products that we have as well |
| SkinCure is doing very, very well on their own |
| We're looking forward to more directly benefiting from the SRT treatment growth rates we've seen |
| With the many upcoming medical meetings, I'm sure we'll gain momentum for this program as the word spreads |
| Nevertheless, our balance sheet positions as well to take advantage of the compelling growth opportunities we may come across, or that we may create ourselves |
| The ROI for our premium SRT system under our fair market value leasing program continues to be compelling, and although it's early, our initial introductions of our recurring revenue model, are being met with a great deal of interest |
| I've mentioned on previous quarterly calls that, this advanced technology is expected, to play a key role in our growth, and now you may understand why we've been so excited with Sentinel |
| As always, we listen closely to our market and we're delighted to meet their needs with highly competitive offering |
| And, again, I'm going to thank the entire team headed by Javier that's kept us extremely disciplined on our expenses, and we've always been extremely mature about those and disciplined about it |
| Note also that the capabilities of SRT-100 Vision with image-guided ultrasound and Sentinel technology make the recurring revenue model possible |
| We don't want to disappoint anybody, but I can assure you that everybody in the team is going to work very, very hard, to make sure that we achieve better than what we did the year before |
| Published studies have shown that SRT clinical results are as good or better than most surgery and certainly it's non-invasive, leaving no scar |
| CureRays will be instrumental, to our recurring revenue model, and we are very excited to be partnering with them |
| Statement |
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| Revenues for 2023 were $24.4 million, compared with $44.5 million for 2022, reflecting a lower number of percentage units sold, as customers deferred purchases, due to microeconomics conditions and lower sales to our customer in 2023 |
| You know, big Q4 bounce back after what has been a difficult, let's call it, 18 months with the market environment that's out there, anesthetic and dermatology |
| So, again, we're overall overexcited in every way |
| So it makes you worry about predicting things and saying things |
| But things didn't turn out that way |
| The decrease versus the prior year, reflects a lower number of SRT units sold |
| We would rather, overachieve and under-commit versus going the other way |
| These are all things that we can't control |
| The decrease was primarily due to the lower number of units sold in the 2023 quarter |
| Gross profit was $14.1 million for 2023, or 57.6% of revenues, compared with $29.6 million, or 66.5% of revenues for 2022, reflecting a lower number of units sold and higher cost charged by vendors in 2023 |
| And in listening to those customers, we started to understand, where they were hurting and how they were getting impacted, by the economy and inflation |
| Inflation hit really hard |
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