Earnings call transcript Q2 2023

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Operator

Welcome to the Sensus Healthcare Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Kim Sutton Golodetz with LHA Investor Relations. Please go ahead.

Kim Golodetz

Thank you. with Golodetz Kim is LHA. This for Thank today's in you all call. participating

Javier Joe from President and and Officer. Sensus me Sardano, and Chief Healthcare Counsel; Sardano, Joining Michael are Chairman Financial Officer; Chief General Rampolla, Executive

other assumes, a or historical during call expressions of in facts activities discussed similar federal that As will law. anticipates All the Healthcare statements today's some address matters contain forward-looking of or that plans, reminder, should statements intends be may within future securities the The update XX-K of forward-looking forward-looking and and management's statements. expects, this XX-Q. any the meaning believes, as the other will, Sensus than required forward-looking on occur obligation All Sensus based date August information in company's call, Forms no currently XXXX. statements statements risks X, except available statements to are law. are subject conference Healthcare uncertainties by the or as forward-looking described revise of as and undertakes beliefs to are

today's results yet viewed press During financial measures operating for should for be be information nor non-GAAP substitute release. certain a included accordance be useful provide believes of to today's investors, measures. in GAAP, made Sensus to results reconciliation GAAP should as financial determined non-GAAP a these not they considered GAAP. substitute references for in with as they call, will A results is

Joe? Joe that turn said, to call Sardano. With I'd to like over the

Joseph Sardano

and Kim, everyone. Thank you, good afternoon,

quarter. Our second showed quarter the financial over results improvement first

shipped first of from shipped quarter. Vision outside prior US, shipped in During down and systems, systems the XX six XX SRT-XXX quarter systems up XX the QX, systems the but systems year including SRT four XXXX, from we during

achieve a quarter, milestone. the During we did

as XXX drive years. shipped now systems next We progress X,XXX total, in have XXX and couple towards systems are of making the to be within we - exact over

that we the in time. the delivered XXX next during would system call units we during made achieve I half number statement XXth our anniversary recall, year. then-earnings the XXX you the If our

forward So to far, we look of half second we better XXXX. a are on track, and

an revenues For a QX, XX% increase year down from of $XX.X were $X.X sequentially, million ago. million, the but

As a aesthetic of procedure and conference feedback are and source quarter's hearing of practice, on as profit. procedures last discussed that our call, patient elective meaningful And depend improving. revenue, customers mix on we many encouraging are volumes

positive build such, inventory components. and are that for appropriately, confident we our they customers volumes as of planning We're grow patients the are previous to experiencing receiving back continue levels. to that their feedback prepay As and slowly we we from are return

our past XX% And the at its surveys years. that for treatment cancer. choice SRT speaking year-over-year of volumes, current is will of six for rate growth soon the utilization growth rate a this skin of Medicare non-melanoma SRT If show become continues pace, treatment experiencing

high, Our inventory and for building confidence we've been and is prepaying components.

We XX Concurrently, trajectory. on expect that on for to we our hesitancy and back SRT systems during XXXX. will a address ship at remaining least working us growth prospects any put programs are

is multiple This IT, data is customers on this better now and a lasers. technology our Sentinel manage to software and practices in artificial our patient Sentinel Dermatology is to Cloud past growth, stores is available key at With March. Sentinel capabilities new play allow their Our advanced to clinic Sentinel/Sensus of feature a Annual a cloud-based management asset data. also monitoring and role include HIPAA-compliant play we intelligence our this our American is key our to role for Meeting in launched expected diagnostic of and that the remote and platform Academy growth. will IT purposes expected

the cloud group valuable track continuous device. that Continuous or any an Sensus to as practices information to web any issues, Cloud The stored also system providers from allows multiple field. the calibration, remotely such allows or all engineer monitor browser to of the providers boasts status backups monitor and monitoring in having to temperature, service platform send with system without ensure The their at remote iOS monitoring to times. is locations a equipment safely voltage, and

for may IT you to our look system us October sales allows to Oncology time, X. as as real trade As track SRT Therapeutic expect, well IT an shows, new programs. local that may beginning We American and at use important feature the products Sentinel forward in support Society Radiation showcasing

skin gains for Although the market, market. hospital longer a opportunity in radiation the cancer sales cycle is interest it the is attractive as oncology highly

the hospital quarter, and we several to of more are with engaged Northeast, the announced systems. sale During a a system we first in the hospital

introduced to treat treatment on technology the also high and the can and leads new patient a because see capability. resolution the each to impact ultrasound provide resolution great physician see and reassurances We treatment. of actually outcomes after This improved lesion

in only Interest been Our month. program high, in the results X.X evidenced treated X and fair a we've to market traffic patients shows as by leasing trade booth with attending. value an remains this ROI at program conferences

other many customers looking These vital to are options. and all be of inquiring the know activities about future. dermatologists our about programs, of SRT, still potential are types sales at educated. Our also need attractiveness Not as actively we to are

and stepped education programs. favorable reimbursement up higher most, comparisons we've the to our marketing overall, and given So,

presence other attention. at presence our us so we're many cost companies increasing a the closer effective. conferences. allow customers without had get our also key are the always to for larger smaller regional at events more conferences, to They we've competing While These

are. of how can You we or Instagram Facebook us follow a on get to sense active

like to So our plans with for on I'd Sardano color more turn and our a to Michael bit that Michael? priorities. over the call overview,

Michael Sardano

Joe. Thanks,

international and was distributors. our a I our first to up year, being so prominent pleased process regulatory demand. per Dublin. cases SRT cancer Skin territories, Sensus efforts cancer announce Beacon high in right in the than spoke be Ireland into at about more with in quarter, should open new sold to system Last XX,XXX is the Ireland Hospital approvals In QX, demanding requiring engaging most

part difficulty]. broad [technical of large They Sticking distribution with Healthcare, Sensus growing new public a network care also that announced a support MIS have a of and the Sensus. and relationships world, bring in well-respected private health a of partner maintenance within very by specialists. to and entry market operation for sectors supported large also engineers and a They an factory-trained the and team effective service application

Sensus SRT was in first expand American QX, Guatemala. Central territory our Additionally, excited sold into the to system into with

our future, our more as is longer-term possible, they XX now With as international than with market expand our goals and Latin Japan Asian remains sold. regard regulated. highly SRTs as to the being to Brazil are and quickly footprint American plan with premier China

With of shipped the SRT so quarter see systems shipments another lifted, there positive year. a total we pandemic this to far lockdown the Asia to for five continue momentum during and two

We we XXXX, target China take a look Asian the of than expect that on to and specific will and expanding into further territories SRT systems Korea delivery more forward throughout XX with Japan.

financial over a that, of to turn our for Javier results. I'll With call discussion the

Javier Rampolla

Thanks, good afternoon, and everyone. Michael,

SRT sold a large prior sales the year of XXXX, defer The was As of our revenues for as continued decrease the quarter XX% of to number well of $XX.X as as customers mentioned, primarily customer. a of as to an year million $X.X XX.X% ago. revenues first Joe second quarter compared with decrease purchases, increase a the were units a of over due and XXXX lower to versus million, lower

lower in the the million, of primarily of million, was quarter. for XX.X% with profit the quarter sold number XX.X% higher decrease of costs or XXXX XXXX revenues, by the The Gross quarter $X.X vendors to due for units and second was XXXX. second or charged compared revenues $X.X of of

Going continue to improve we of the margins anticipate our in as year. forward, to second range the to the half gross return mid-XX% sales

and for to was compared $X.X the for million second decrease XXXX costs. of second was expense slight higher quarter marketing million of headcount with lower quarter commissions, partially attributable marketing by and $X.X offset XXXX. The the initiatives Selling

and the mostly XXXX. in $X.X The second a was expense second General quarter for by compared offset higher the expense. professional quarter million insurance XXXX increase to $X.X due of of was with reduction administrative million fees, for

quarter XXXX from expense same the was development million, and $X.X second last quarter for Research the year. of unchanged

same We for expect this of remain year. at the to general R&D level rest expense the

$X.X interest quarter income of net second quarter income. per XXXX quarter million the loss or was or the of with $X.X second million income Other for the second of $X.XX diluted related per a Net for compares for to $X.X was of XXXX share, this $X.XX of million and share XXXX.

negative million for EBITDA, interest, we with second the as earnings compensation and XXXX million depreciation, XXXX. Adjusted was $X second expense the for quarter amortization quarter compared $X.X define of positive before of stock taxes, which

lower The $XX.X $XX.X first number with was $X.X primarily revenue million vendors for million profit the sold compared for financial of and XX.X% of brief the revenue, the first by was units half half by or first half XXXX, reflecting SRT of in million XXXX. our charged of a compared year-to-date or I'll decrease of of the number sold. of costs XX.X% XXXX. million first lower units higher driven Revenues the $X.X for with Gross half review of XXXX were results.

The the $X.X XXXX half expense XXXX. of by marketing increase million expense and was attributable Selling and $X.X trade costs, show commissions. for million of headcount with primarily upset higher was first to lower compared for partially half the first

primarily first XXXX, compared XXXX. higher to due half for half professional insurance for offset administrative a $X.X was of was and million General by million expense reduction the increase first the expense. $X.X in of fees, The with

XXXX, expense Research system development was drug first use. first of half million for for The to to $X.X of of was related compared the the XXXX. expenses million half increase the $X.X for mostly aesthetic due and development with a delivery

the by expect project the this complete We year. of end to

Other Other half related for a interest non-core half the $X.X the XXXX the first first was of sale to related income. of $XX.X of income asset. of XXXX to million was the income gain million for on of

for a or and XXXX the of compared negative first million, half or the of Adjusted $X.X XXXX the per million, of $X.XX this income gain the first first with for of million XXXX. the Net loss $XX.X compares million includes for was Net on net $X.XX diluted income $XX.X first half million period half half for share, a was share of non-core for sale with XXXX. per positive $X.X asset. XXXX a EBITDA $XX.X the of

$XX.X December its of XXXX. million, XX, were million company of as XXXX, from borrowings equivalents Turning under The XX, now June and of no XX, down million $XX.X XX, of credit our from XXXX. up of or outstanding as $XX.X to sheet. December XX, line XXXX, March June had balance revolving and cash Cash XXXX as as

continue We ambition. for to growth prepare the

end the and $XX.X at quarter, million increases. stood QX, we ahead up at building any million of from of part Inventory $X.X end XX, million up Specifically, for at prices as XXXX. the to goods December get in the finished of second materials, are preparing inventory of and $X.X from inflationary

current Pre-pay million as and and $XX.X other assets as million December of March XXXX. versus of $X.X were million XX, XXXX, $X.X XX,

is the cash compelling opportunities intended position to across. long-term our is very goals. support may Our advantage us to take well of our focused achieve balance to spend our and sheet to come continues Nevertheless, growth we ability

table financial measures. As our earlier please see a for final we GAAP the the consideration release issued today non-GAAP in of comment, news to

turn call over Joe. I'll that, to With the back

A -Joseph Sardano

Thanks, Javier and Michael.

program SRT Interest SRT high. last alone, be system value two compelling. ROI leasing fair remains premium SRT treatments in under in continues $XXX,XXX surpassed our for the the and years market our to

the to year. and return in profitability XX XXXX during expect least ship of second SRT the at to systems half We

the are SRT procedures most reimbursement so surgery. is fact and results treating fact to the leave clear be good that raise two skin it most with our that than choose ago, better has enough can reason than infection come or and published was to much should reimbursement Clinical the that non-invasively cancer SRT Add as This the most choice. surgery years down, in studies non-melanoma is SRT. excellent and showing risk scars while higher becomes of

working We are easier. very to this even excited making on be choice

Sensus-branded and Sentinel new that will, in hair a capabilities our aesthetic a applied example, all system. final experience. our smart have restoration topic delivery allow six to including drug IT the pain-free embedded system As our before be This to add want questions, lasers lasers we them, solution PRP I the scalp to your for take transdermal of in

sweat on addition, have been already overactive posters application for or In presented hyperhidrosis glands. the

cleared FDA year. this device by by end to be of the the We the expect

experience. system delivery drug pharmaceutical patients transdermal Our from pain-free with provide many drawn to looking interest a companies has

SRT. in still enormous tapping are the for We the of stages opportunity early market

of only keloids provide patients solution Our systems prevent recurrence alternative to surgery market. in the well and a largely the following are positioned large untapped for a They arguably compelling and millions surgical to of excision.

non-melanoma us As in their lifetime. to tells one during will cancer have that this, all million cancer. an will an nearly people This XX Americans skin estimated overlay five develop skin

there's Sensus in both despite clearly, systems for We're challenges so a future. SRT is more our So the February. positioned success in and we need faced now for even the confident that

strategies, We inventory have a implement and growth why expected to meet which great the built staff is our we to have demand. drive

future. no excitement about and mistake our technology and Make our for enthusiasm our

Our treats or better as than else. while treat technology better we skin surgery, cancer anything well than keloids

With those for and take to comments, operator, I your thank And now, ready you attention. time questions. we're

Operator

with The ahead. [Operator ROTH question first go Henry Capital. Instructions] Please from comes Scott

Scott Henry

to sounds quarter. the talk like may placements. how And, about when to think you. cadence progress certainly sequentially from for XX we should the about and good afternoon. you're XX Can think second in third you should quarter It Thank fourth about Joe, some they first fall? looking quarter? How about we

Joseph Sardano

Yes, being Scott, on. for thanks

said in but As earnings thought the that call delays would half half lot the first some the second be that we from a better. we be first quarter experienced we've tough, would

at the year. how are do looking we it? So, really at systems We XX-plus approximately for look

for quarter best that traditionally quarter. traditionally continue best low the quarter. fourth than better it's a going to our always still I say third think been which quarter, would but be been second will think the us, I the has I quarter, to be has And quarter

of think between better second than again, sequentially, So, quarter, quarter, fourth third two best I quarter the think, I the all.

Scott Henry

or some second you But like profitable about the if is Or feel you'll be would take. like give the second I to XX breakeven comments being breakeven made or half you And the you It kind of recall, sounds half in of give? about year. the of the Okay. units year? profitable guidance what comfortable for do

Joseph Sardano

the that everybody the of I'd Yes. be tell profitable like to will second in year. No, we half

that saying the we've that been from think profitability would I that beginning return.

be Our number the entire for one profitable year. to objective is

come things day profitability around the think So, they from had objective meet if the will definitely I that we've will, way X.

Scott Henry

it selling quarter, in income up How they first a statement, from of there? volume? second Okay. expenses the quarter would quarter. on lower it looks And more representative? about with the little Anything expected forward? quarter I second a I then, down little or go like than Is going note sequentially have should first think Obviously, were

Javier Rampolla

that cannot have And I last to is had through. compared we Scott, year, then, a blend. in mean, to Javier. we basically one an QX, example. It's this lower blend. we last But a QX in lower major expenses compared of them you had threshold as take went It's sales year, so commissions.

see You year to today. the have

Scott Henry

Okay. with medical Are are the from from are seeing That's procedures? customers? helpful. what aesthetic rates your finance Joe, to higher you okay question, final they hearing you the the shift environment. interest And And current given

color your of kind Just on customer. the

Joseph Sardano

we're hearing is back. Well, Yes. are our good thing, that that Scott, from coming customers customers their the

services which again cash the the slight in a gain aesthetic from seeing their pockets. puts in a - they're So, gain side,

do paid Medicare, also fact part. have what them that on So helping them SRT focus to after and a you with have by for for can great practice didn't them for they their go opportunity in the for maybe we're some that that this codes revenue CPT excited before. that's is It's

decisions base prospect always business. impact a think prospects. had being of And the we've on haven't were of - any that they cash they're lost lot of because that continues I The the So, but grow, said fact that the open. we delayed to the the

the good field. some hear rumblings to starting we're from So,

And and that coming second seem the We're is saying is as based economic to I a that we half people on. be back part we experiencing get we've half move the incorporating their that's better much along been them life think to excited believe all they're what will for feedback. that back on the way situation market whatever of

Scott Henry

Okay, Thank you the taking for questions. great.

Joseph Sardano

Thank Scott. you,

Michael Sardano

Thanks Scott.

Operator

Our go Anthony next ahead. Vendetti from question with Maxim Please Group. comes

Anthony Vendetti

the just expectations to your terms where what on you've gears at own Maybe with shifting there? just that's where just in on - the an status are on update now, the is the the clearance infusion and of So, system that back your transdermal developed XXX(k)?

Joseph Sardano

testing Yes. have that the are all testing, regular We've those for. those reports government And, we're through the so through gone of it. programs waiting required

reports We FDA next to an of into days, within be we XX XX incorporated and those expect before the FDA expect the end submission year. to clearance the

Cloud X that this device all into attached we've think to so us things this of the Sentinel Sentinel was that to well. which the the the everybody add as with opportunities capabilities added, I would of expect and program Sentinel

drug will. in give this will best of delivery clearly it our providing customers you the system, possible options kind if So

So for we're it. very, very excited

Anthony Vendetti

Okay.

of putting submit by longer, the the combination the that that system but the with approval addition little of expecting next you're the days and a bit is it two of why XX Sentinel you're the that the Is taking the year. IT So, within right? piece to it's then end has

Joseph Sardano

And wasn't agencies It the FDA. delayed third-party by as testing it. was by the hasn't designated what - Yes. it that the

are to And and You product of have to have through FDA, those. the have those people completed been bring testings market quite a all But of lining finalized. a reports backlog. there's being up the and they've to line got

So a maybe delay, XX-day it overall. I that was delay. when delay the And say was

Anthony Vendetti

the leasing? what year? you new we hearing the through sense dealing of just scaling back you their that, second and in are SRT as that's for have back things or hearing terms in the enter or the move purchases this normal increasing with as for Are the dermatologists forth, sales for going Or just are you've SRT I'm general, systems, But then, force reticent - speaking to by kept for systems. to a so consistent total appetite but even And I I higher new in systems whether going back practice? And Okay. the as are has you rates with or what consider to as interest XX would say is there with returned guess, normal, in not what other a know now half, their conversations clients. systems dermatologists, it's of been of XXXX. we rest appetite terms into their that to in systems we're just

Joseph Sardano

I coming there's any they're don't question that that back. think

almost And of start so, every going to We're seeing we're in that things the are that day. second getting half. feedback moving signs

to our these by opportunity we're through opportunity think, with it to get were for it us talking they're So, our And like gave more an when them. it us to we going was COVID, times, customers encouraged just always customers. tough during to I even dialogue instance, solutions, because looking have and for closer gave

And for just I knew tough we during were with there think the were they like during good COVID. them the were so, them - that times, there we times during

and positive, So, I we've very, been getting very, very been think of that feedback very been feeling in secure it's towards second the the how has we're year. half that the

excited. we're So,

Anthony Vendetti

in market Okay. Great. then, you're could I then, if and seeing specifically was I on did Hospital update And Beacon you that in some what And about Ireland? China. then in Asia, sales just think, talk wondering you an mention, also

Michael Sardano

Mike. it's Anthony,

regard to So very China, to be with consistent. that seems

of been much touch himself. our Benson China distributors lockdowns in I Chinese national As in has even has the are in VP and stated, China. our done pretty with International a is Sales, been

that connected well in very he's So area.

like of entirety of consistency. to over And systems be XX seeing XXXX. a the there'll I China throughout lot we're said, So, sent

very facility they're to Beacon radiation Beacon to excited probably Hospital the the I oncology there Hospital, went over there, it's hospital regard with and myself. dermatology private and Dublin. I it. very, With the met in and have is there, premier in contingency

excited individual there. a client So treating and base, worth have they're start very they high to net

Anthony Vendetti

Good. Good.

Okay.

So, great.

platform, in - with the sort what opportunity just the sort this this premier see there the Ireland opportunity you're scale do you to Dublin. Michael, Europe. of So, for opportunity, do as as hospital But and a throughout in Sensus as what's believe, use of you like a and a not hospital

Joseph Sardano

because X, a answer me question. that's that let very very, Anthony, good

that up hospital, look - they Beacon at anybody all would invite hospital they cancer website Like list have and they to you them care, other orthopedics, go and the the every If look I listed. provide. parts, the to services

One a disease. the see is to of that deemed of premier the Sensus radiation And it's to treat this dermatology cancer between from and aisle, one in the SRT collaboration device neat oncology private and hospitals to they've be the skin that dermatology. being best treat you British things

And that, in something I model I think we're the that seeing think that's U.S. going a is start that to

and of seeing going it's they big to services, If of like scope in you I all about, their just ones saw listed that to with Hospital. dermatology at have other Beacon nonprofit, hospitals U.S. most their don't the go private whether you're websites, start coming or the are. But we think look

a - beacon in good So, it's for everywhere think to for think It going I market the exists follow market it's us U.S. well. grow U.S. for the world, that's a good else beyond. as the and to I to

Anthony Vendetti

Yes, Great. back I'll Thanks. the very in good. you queue. hop right. All guys. Appreciate

Joseph Sardano

you. Thank

Operator

go ahead. [Operator next comes Craig-Hallum. Nowak question Alex Instructions] Please Our with from

Unidentified Analyst

This is for [indiscernible] on Alex.

the there with have to any coming radiation superficial draft physician reimbursement therapy? XXXX out, changes So, for been schedule

Joseph Sardano

Michael, has been Nothing you're... indicated.

Michael Sardano

No, no fee and of schedule. there was the SRT physician mention

Unidentified Analyst

Got Got it. it.

us you lease tough just bit? programs, further I Okay. through you some the mentioned process that but team their in a sales this know can expand capital is how walk environment. Can adapting on you

Joseph Sardano

been the for a adapt. is, lease the while that fair customer quite encouraging talking we've that's lease market something program for have is the value about Well, to now, we very

customer much for way hefty to the where And of tool as there's like if residual very a gain another lease, inexpensive to a on you just car described it's it's value, will, technology. it, access the equipment. our it, a I've left So, doing

it. portion certain of a our to system. for That continue So grow, of most the cash they're pay only customers although will paying for

allow tough of our We're derivatives also product coming in customers opportunities our these up acquire with to some other times. to

programs. rentals, shared service got got You've you've

programs those these of all All and are things proposed now. being evaluating to they're customers

become end going take think that and see I and of the the So to several contracts now popular. of I to think it's those between we're year, effect going

Unidentified Analyst

been patterns half Got it. practices? know difficult, with I relationships have got one dermatology is seeing expand you your your more. I How year demand? in terms just of the further what ordering from it. can customers and of largest their but Got that you're your first

Joseph Sardano

through is seen. them as I for gone us. They've it same same thing for the mean, Yes. it's conditions we've that the market

mean, our we being various customer, best them discuss and industry. the I through it us the drive opportunities to closely gives So, opportunities together work can help how together technology to

And so that never ceases.

COVID. we've that I the second think we've through the through the business great as went to we a grow we in see got continue going a they're that we did year, relationship first there. said They that I now business. their problem gone But always push And like the and their in half we've same rejuvenation try half are. to have of to when just they think

Unidentified Analyst

right. All Awesome. Awesome.

Joseph Sardano

XX% a the and bring SRT want any treated which technology. other survey lose important Medicare, me we up SRT on that thing people experiencing with year-over-year did last was are that with huge six increase. for option introduction. increase using years That massive. That's a Let understand, sight surgery. choosing Medicaid - versus I more anybody don't to to the be the think one in is versus mentioned during fact We're for is I found treatments a to, which compounded everybody to I there

from skin going continue even we're be gold grow mentioned, XX% maybe year-over-year, to of in going feel treated at one numbers it's cancer for we accelerate that's and the that, which you XXX,XXX in to that two the people to treating very standard years. the going become the future. to near So, can where see we last If

have, the every a - how that's of number customer treating how each say XXX, is an on of worldwide so XXX,XXX that utilization can take have it's patients see units if United those the year, about and XXX how I systems ROI is now being of their year. of the that with quickly patients XXX, you we you much the that's And XXX can important many then it. And we you in average is calculate equipment. or unless States.

treated. kind easy of have money being now of making patients that we these very So, it's to what derive significant volumes they're

Operator

go Our next Global question Please comes from Partners. with ahead. Alliance Ben Haynor

Ben Haynor

gentlemen. and of past follow has Thanks But definitely commentary trend big case afternoon, the that to Joe's thinking having per pun patient mentioned, I the And couple Good you here. not the things the that appreciate for XXX,XXX picture treatments just or about treatments questions. Is the taking of factor there? does grown, any in? shrunk? how many years, that there over per some

Joseph Sardano

What Well, Ben, seeing, we're XX what is seeing you appreciate and fractions. and being I on. between XX we're

treatment of skin for So, cancer. that treated. - you guess, could are XX about an talking average fractions say when number patient of I per the skin XXX,XXX the of XXX,XXX But being were we cancers that's

Michael Sardano

Lesions.

Joseph Sardano

Lesions.

treatment. actual not it's So

those treatments anesthesia is the treatments of of place. XXX,XXX again, for no of patients. without for the times of the number that So, because there there scarring scarring, no all, no are bleeding taking number treatments patients, those And no is no best times cutting, an average pain, XX gives and you

we're all excited that's what So, about.

think grow. I I it think that's going great, continue and will to

Ben Haynor

I appreciate clarification do XXX,XXX actually as there, fractions. it I took the because

international? made there. And of X,XXX there? do getting you've then, those track how you bear in able fruit. guess, I versus systems, color be obviously, to bigger terms sense Or - mistaken, domestic internationally been have next the The a the have might to that to starting split, would on any So, share XXX-ish you a will systems, push of

Joseph Sardano

I the biggest our I revenue. still And think international about is U.S. frankly, of think at overall market quite the represented in market X% is the to X% that

ground the to to So, still the going as think of we from of of U.S. think more I still grow, still between be overall to It's the and international and growing be gaining to U.S. continue I market is different going going X%, parts in the X% X%, revenue. in it's the biggest growth world. our spite in come

Ben Haynor

in Okay. functionality/improvements/applications, and it. you're then, sort into these on me the apologize if in. what this, putting building the of developing Sentinel AI And that lastly but missed the that Got applications for and enable? I AI guys I Sentinel are you

Joseph Sardano

Well, we total well the of it capabilities, and next the the that, some it we I medical the for by wait Diego. those. have March unbelievable stored provides for so introduction, expect you we'll But billing you from billing final that think us and benefit which be that of above context everything all opportunities all records the as of gives with AAD the to in do include AI, product for within collections San electronic all until to and patient, EMR physician, the operator, make can to when the as and

But look I see we're a of be, give I what guess, to I to a will could other we had what with having looking SIRI program machine, programs, some if the at to dream, I where it you the any things can was the talk and us other going or think it's for. us if you if these of tell I exactly

Ben Haynor

Okay.

stay it tuned like there, So and some there's exciting developments. sounds

Joseph Sardano

be will Yes. It fun.

Ben Haynor

that's Well, the I for had taking sequential congrats on all improvement. deal. Good Thanks questions gentlemen. the and

Joseph Sardano

Thanks Ben. it. Appreciate

Michael Sardano

Ben. Thanks

Operator

our like over conference any for the closing turn concludes to back I management This would session. to question-and-answer remarks.

Joseph Sardano

Also Dawson to plan once meetings. mention Sensus Conference series Cap Thursday, interest your everybody. Growth a Thanks, XX for coming this time like October James in Healthcare Thank presenting that Okay. your I'd we'll we Florida. of the be Jupiter, X-on-X hold in at again, in the you. on virtual for afternoon to Small weeks, and

today. you schedule. when again speak in LHA on you. we the In for report you financial Thank contact results early thank meantime, third get November. quarter with to us joining all We'll if please you'd like So, the

Operator

has concluded. today's conference for presentation. The attending Thank you now

now may disconnect. You

Sensus Healthcare (SRTS) 3 Aug 232023 Q2 Earnings call transcript