# Sensus Healthcare, Inc. > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Sensus Healthcare, Inc.). ## Overview Sensus Healthcare, Inc. is a U.S.-based medical device company focused on non-invasive treatment of non-melanoma skin cancer and post-surgical keloid scar prevention. Its core platform is superficial radiation therapy (SRT), delivered through the SRT-100, SRT-100+ and SRT-100 Vision systems, with operations run as a single segment from Boca Raton, Florida. ## Products & services • SRT-100 superficial radiation therapy system • SRT-100+ and SRT-100 Vision platforms • Sentinel service program • Fair Deal Agreement service model • Consumables and radiation safety items • Operational healthcare services for dermatology clinics - **SRT treatment systems** (65%) — Superficial radiation therapy devices used to treat non-melanoma skin cancer and keloids. - **Fair Deal Agreement** (20%) — Recurring revenue model where Sensus provides equipment and clinical support in exchange for a share of reimbursement. - **Sentinel service program** (8%) — Maintenance and support contracts covering parts, labor, preventive maintenance, and installation-related services. - **Consumables** (5%) — Disposable shielding, safety items, probe film, and applicator tips used with SRT treatments. - **Other services and legacy products** (2%) — Operational healthcare services and limited legacy distribution of aesthetic laser devices. - SRT-100 superficial radiation therapy system - SRT-100+ and SRT-100 Vision platforms - Sentinel service program - Fair Deal Agreement service model - Consumables and radiation safety items - Operational healthcare services for dermatology clinics ## Customers Sensus sells primarily to dermatology clinics, independent medical practices, and corporate accounts that treat skin cancer and related conditions. Its customer base also includes providers using the Fair Deal Agreement model, where Sensus supplies equipment and clinical support in exchange for reimbursement-linked economics. The company’s products are used by physicians and clinics that need a non-invasive alternative to surgery for selected skin lesions and keloid prevention. - **Dermatology clinics** (primary) — Buy SRT systems and services to treat non-melanoma skin cancer and keloids in outpatient settings. - **Independent medical practices** (primary) — Purchase systems or use financing/service models to add a reimbursable skin-treatment capability. - **Corporate accounts** (secondary) — Acquire multiple systems or standardized service packages across clinic networks. - **Fair Deal Agreement users** (secondary) — Access SRT through a revenue-share arrangement rather than an upfront purchase. - **Existing installed-base customers** (secondary) — Buy consumables, maintenance, and support to keep installed systems operating. - Dermatology clinics buying SRT systems for skin cancer treatment - Independent medical practices seeking non-invasive treatment options - Corporate accounts standardizing equipment across clinic networks - Fair Deal Agreement customers using reimbursement-share access models - Clinics buying service contracts for uptime, training, and compliance ## Geography Sensus operates globally but is heavily concentrated in the United States, which accounted for 92% of sales in 2025 and 96% in 2024. The company also has installed systems in 21 countries, giving it a small international footprint relative to its U.S. base. This concentration makes reimbursement, customer purchasing patterns, and provider adoption in the U.S. especially important to results. - **United States** (92%) — 2025 sales concentration disclosed in MD&A/note narrative - **International** (8%) — Residual share outside the U.S.; company reports installed base in 21 countries - U.S. sales dominate the business and drive most revenue - Installed base spans 21 countries, mainly outside the U.S. as a smaller footprint - International presence supports future expansion but is not the main revenue base - Boca Raton, Florida is the corporate headquarters and operating center - Geographic concentration increases exposure to U.S. reimbursement and demand shifts ## Strategy Sensus is focused on expanding adoption of its SRT platform through reimbursement support, direct sales, and service-based commercial models. It is also building adjacent offerings such as financing, cloud connectivity, and operational support to reduce adoption friction and deepen the installed base relationship. These priorities are intended to strengthen utilization of the platform and broaden access for clinics that prefer lower upfront commitment. - **Expand reimbursement-supported adoption** (short-term) — Coverage and reimbursement are central to physician and clinic willingness to use SRT. - **Grow recurring and service-linked revenue** (medium-term) — Service contracts and revenue-share models can stabilize customer relationships and improve retention. - **Reduce purchase friction** (short-term) — Financing and leasing alternatives can convert prospects that are sensitive to upfront capital cost. - **Increase installed-base utility** (medium-term) — Software and connectivity can make existing systems more valuable and support repeat usage. - Expand sales and marketing to increase SRT adoption - Support reimbursement codes and payer acceptance for treatment access - Grow recurring revenue through Fair Deal and service programs - Use financing options to reduce purchase barriers for clinics - Add cloud software and connectivity to deepen installed-base value ## Risks Sensus is exposed to reimbursement risk because demand for its procedures depends on coverage and payment levels from Medicare, Medicaid, and private insurers. The business is also concentrated in the U.S. and with a small number of customers, so changes in purchasing patterns, competitive products, or the loss of a major account can materially affect revenue. As a medical device company, it also faces regulatory, litigation, supplier, and product adoption risks typical of the industry. - **Third-party reimbursement risk** [high] — Physicians and clinics may not adopt SRT if payors do not cover procedures adequately. - **Customer concentration** [critical] — A single U.S. customer accounted for a large share of revenue, making results volatile. - **Geographic concentration** [high] — Most sales come from the U.S., so domestic demand shifts have outsized impact. - **Single-source supplier dependence** [high] — The company relies on a preferred supplier for x-ray tubes and other major components. - **Regulatory and litigation risk** [medium] — Medical device companies face FDA oversight, enforcement, and patent disputes. - Reimbursement changes can quickly affect procedure adoption and sales - Revenue is concentrated in the U.S. and in a small number of customers - Loss of a major customer could cause large swings in revenue - Medical device regulation and FDA compliance can delay commercialization - Single-source component supply creates manufacturing and continuity risk - Patent and litigation exposure is elevated in skin cancer treatment devices ## Accounting Revenue recognition is a key accounting area because Sensus sells systems, service contracts, consumables, and revenue-share arrangements with different timing patterns. The company also has judgmental areas around contract-based service obligations, inventory ordering ahead of inflation, and potential estimates tied to debt, contingencies, and tax credits. Because demand can be lumpy and customer concentration is high, quarterly revenue comparability can be affected by shipment timing and placement activity. - **Revenue recognition** — Can shift revenue between periods and affect comparability - **Fair Deal Agreement accounting** — Affects reported revenue mix and margin profile - **Deferred revenue and service obligations** — Impacts balance sheet liabilities and future revenue recognition - **Income tax estimates and credits** — Can cause volatility in tax expense and net income - **Inventory and supply chain commitments** — Can affect working capital and inventory valuation - Revenue recognition varies across device sales, services, and Fair Deal arrangements - Fair Deal Agreement may require judgment on timing and allocation of revenue - Service contracts create deferred revenue and performance obligation tracking - Inventory and supply commitments matter because the company orders ahead of inflation - Tax credits and valuation assumptions can affect the effective tax rate --- *Last updated: 2026-04-29T04:58:03.972327+00:00*