Sensus Healthcare Q3 revenue falls on product mix shift, misses estimates
Overview
US medical device firm's Q3 revenue fell 13% yr/yr, missing analyst expectations
Q3 net loss widened to $1.5 mln from $0.9 mln a year earlier
Gross profit and margin improved, driven by higher-margin SRT-100 unit shipments
Outlook
Company did not provide specific financial guidance for future quarters or the full year in its press release
Result Drivers
PRODUCT MIX SHIFT - Revenue decline was mainly due to a higher proportion of lower-priced SRT-100 systems and the absence of sales to a historically large customer
GROSS MARGIN IMPROVEMENT - Gross profit and margin increased due to a higher proportion of shipments of higher-margin SRT-100 units
CUSTOMER BASE EXPANSION - Expanded customer relationships, including initial system purchases by two large private equity-backed dermatology groups, supported diversification strategy
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $6 mln | $6.61 mln (4 Analysts) |
Q3 Loss Per Share | $0.09 | ||
Q3 Net Loss | $1.49 mln | ||
Q3 Adjusted EBITDA | -$1.47 mln | -$1.26 mln (2 Analysts) | |
Q3 Loss Per Basic Share | $0.09 | ||
Q3 Operating Expenses | $4.91 mln | ||
Q3 Pretax Loss | $1.49 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for Sensus Healthcare Inc is $5.75, about 68.6% above its November 11 closing price of $3.41
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)