Sensus Healthcare, Inc. (SRTS): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da tecnologia médica, a Sensus Healthcare, Inc. (SRTS) surge como uma força pioneira em terapia de radiação superficial, transformando o tratamento com câncer dermatológico com suas soluções inovadoras e não invasivas. Ao alavancar os dispositivos SRT de ponta e um modelo de negócios estratégicos, a empresa está revolucionando o atendimento ao paciente por meio de tecnologias precisas e econômicas que minimizam a invasividade e maximizam os resultados do tratamento. Mergulhe na intrincada tela do modelo de negócios que alimenta essa empresa inovadora de tecnologia médica, revelando como o Sensus Healthcare está remodelando o futuro do tratamento do câncer de pele.

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: Parcerias -chave

Fabricantes de dispositivos médicos e fornecedores

A Sensus Healthcare faz parceria com fabricantes especializados de dispositivos médicos para apoiar sua produção de equipamentos de radiação por radiação. As principais parcerias incluem:

Parceiro	Colaboração específica	Detalhes da parceria
Elekta AB	Componentes de tecnologia de radiação terapia	Verificado a partir de 2023 Relatório Anual
Sistemas Médicos Varian	Integração de equipamentos de oncologia de radiação	Parceria em Tecnologia Estratégica em andamento

Clínicas de oncologia e hospitais de radiação

Sensus Healthcare mantém parcerias estratégicas com instituições de saúde:

• Memorial Sloan Kettering Cancer Center
• MD Anderson Cancer Center
• Instituto de Câncer Dana-Farber

Distribuidores de tecnologia de saúde

As parcerias de distribuição incluem:

Distribuidor	Cobertura geográfica	2023 Volume de distribuição
Cardinal Health	Estados Unidos	37 contratos de distribuição de equipamentos médicos
McKesson Corporation	Mercado norte -americano	24 acordos de distribuição regional

Instituições de pesquisa e centros médicos acadêmicos

Parcerias de pesquisa colaborativa:

• Centro Médico da Universidade de Stanford
• Johns Hopkins University School of Medicine
• Centro de Câncer Anderson da Universidade do Texas

Parceiros estratégicos de financiamento de equipamentos médicos

Detalhes da colaboração financeira:

Parceiro de financiamento	2023 Volume de financiamento	Intervalo de financiamento de equipamentos
CIT Bank	US $ 12,4 milhões de arrendamentos de equipamentos médicos	US $ 250.000 - US $ 5 milhões por transação
Wells Fargo Healthcare Finance	Financiamento de equipamentos de US $ 8,7 milhões	US $ 100.000 - US $ 3 milhões por contrato

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: Atividades -chave

Projetar e fabricar dispositivos SRT (Radiação Superficial)

A Sensus Healthcare se concentra na fabricação dos sistemas SRT-100 Vision e SRT-100+ para tratamento de câncer de pele não melanoma. Em 2023, a empresa produziu aproximadamente 75-100 unidades de dispositivo SRT.

Modelo de dispositivo	Capacidade de produção anual	Preço unitário médio
Visão SRT-100	50-60 unidades	$250,000
SRT-100+	25-40 unidades	$275,000

Pesquisa e desenvolvimento de tecnologia médica

A Sensus Healthcare investiu US $ 2,7 milhões em despesas de P&D durante o ano fiscal de 2023, representando aproximadamente 12% da receita total.

• Primária P&D Focuse
• Melhoria contínua das plataformas de dispositivo SRT existentes
• Exploração de novas aplicações médicas em potencial

Suporte clínico e treinamento para profissionais de saúde

A empresa fornece programas de treinamento abrangentes para profissionais médicos, com aproximadamente 200-250 profissionais de saúde treinados anualmente.

Tipo de treinamento	Participantes anuais	Duração do treinamento
Treinamento no local	120-150	1-2 dias
Treinamento virtual	80-100	4-6 horas

Marketing de produtos e vendas em oncologia dermatológica

A estratégia de vendas da Sensus Healthcare tem como alvo clínicas de dermatologia, centros de cirurgia plástica e práticas de oncologia. Em 2023, a empresa registrou receita total de US $ 22,4 milhões.

• Equipe de vendas diretas de 15 a 20 representantes
• Concentre -se no mercado dos EUA com expansão internacional seletiva
• Orçamento de marketing estimado em US $ 1,5-2 milhões anualmente

Inovação contínua de produtos e melhorias tecnológicas

A empresa mantém uma equipe de engenharia dedicada de 10 a 12 profissionais focada em avanços tecnológicos e refinamento de produtos.

Área de inovação	Investimento anual	Foco principal
Melhorias de hardware	US $ 1,2 milhão	Precisão e usabilidade do dispositivo
Desenvolvimento de software	$800,000	Planejamento e monitoramento de tratamento

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: Recursos -chave

Tecnologia SRT proprietária e patentes de dispositivos médicos

Sensus Healthcare se apega 7 patentes ativas relacionado às tecnologias de radioterapia em 2023. O principal ativo tecnológico da empresa é o SRT (plataforma de radiação superficial).

Categoria de patentes	Número de patentes	Foco em tecnologia
Dispositivos de radioterapia	4	Mecanismos de tratamento SRT
Sistemas de entrega de tratamento	3	Aplicação de radiação de precisão

Engenharia e experiência técnica em P&D

A empresa investiu US $ 4,2 milhões em despesas de P&D para o ano fiscal de 2022, representando 11,8% da receita total.

• Tamanho da equipe técnica: 35 engenheiros e pesquisadores
• Experiência média de engenharia: 12,5 anos
• Diplomas avançados: 68% da equipe de P&D

Equipes de vendas e suporte clínico qualificadas

Segmento de equipe	Pessoal total	Experiência média
Equipe de vendas diretas	42	8,3 anos
Equipe de suporte clínico	28	7,5 anos

Recursos de fabricação avançados

Instalações de fabricação localizadas em Boca Raton, Flórida. Capacidade total de fabricação: 500 unidades SRT anualmente.

• ISO 13485: 2016 Processo de fabricação certificado
• Instalação de fabricação de dispositivos médicos registrados pela FDA
• Taxa de inspeção de controle de qualidade: 100% das unidades produzidas

Portfólio de Propriedade Intelectual em Soluções de Radiação de Trerapia

Avaliação total da propriedade intelectual: US $ 12,3 milhões A partir do quarto trimestre 2022.

Categoria IP	Número de ativos	Valor estimado
Patentes concedidas	7	US $ 6,5 milhões
Aplicações de patentes pendentes	3	US $ 2,8 milhões
Segredos comerciais	5	US $ 3 milhões

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: proposições de valor

Alternativas de tratamento de câncer de pele não invasivas

O Sensus Healthcare fornece o sistema SRT-100 Vision ™ para tratamento de câncer de pele não invasivo, direcionando o carcinoma basal, carcinoma espinocelular e quelóides.

Tipo de tratamento	Cobertura do paciente	Duração do procedimento
Radiação não cirúrgica	95% dos pacientes com câncer de pele	15-20 minutos por sessão

Tecnologia de radioterapia precisa e direcionada

O SRT-100 Vision ™ oferece terapia de radiação superficial guiada por imagem com direcionamento de precisão.

• Precisão dentro de 1 mm de segmentação de radiação
• Capacidades de imagem em tempo real
• Tecnologia de visualização de superfície 3D

Soluções médicas econômicas para procedimentos dermatológicos

Métrica de custo	Valor comparativo
Custo médio de tratamento	$ 1.500- $ 2.500 por procedimento
Economia de custos versus cirurgia	40-60% de redução

Opções de tratamento minimamente invasivas com efeitos colaterais reduzidos

A tecnologia SRT minimiza o tempo de recuperação do paciente e as complicações.

• Zero cicatrizes cirúrgicas
• Nenhuma anestesia geral necessária
• Procedimento ambulatorial

Tecnologia médica avançada, melhorando os resultados dos pacientes

Métrica de resultado	Estatística de desempenho
Taxa de sucesso do tratamento	93,4% para câncer de pele
Satisfação do paciente	97% de feedback positivo

Sensus Healthcare, Inc. (SRTS) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas direta

No quarto trimestre 2023, a Sensus Healthcare mantém uma equipe de vendas direta dedicada focada nas vendas de dispositivos médicos, direcionando especificamente os mercados de oncologia de radiação.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	12
Comprimento médio do ciclo de vendas	6-9 meses
Segmentos de assistência médica -alvo	Centros Oncológicos, Hospitais, Clínicas

Programas de suporte técnico e treinamento

A Sensus Healthcare fornece suporte técnico abrangente para suas tecnologias de radiação médica.

• 24/7 de suporte técnico Linha direta
• Treinamento de equipamentos no local
• Sessões de treinamento de seminários de webinar remotos
• Oficinas de equipamentos personalizados

Atendimento ao cliente e assistência de implementação do produto

A empresa oferece suporte dedicado à implementação para seus dispositivos médicos.

Serviço de suporte de implementação	Detalhes da cobertura
Instalação inicial do sistema	Configuração abrangente no local
Duração do treinamento da equipe	2-3 dias por instalação médica
Suporte pós-instalação	Período de garantia de 12 meses

Recursos on -line e materiais educacionais

Recursos digitais fornecidos para apoiar o conhecimento do cliente e a utilização do dispositivo.

• Manuais de usuário para download
• Folhas de especificação técnica
• Biblioteca de Tutorial em vídeo
• Arquivo de webinar

Consulta clínica e tecnológica em andamento

A Sensus Healthcare fornece serviços de consulta especializados para profissionais médicos.

Tipo de consulta	Detalhes do serviço
Suporte à aplicação clínica	Consultas de especialistas trimestrais
Briefings de atualização de tecnologia	Revisões técnicas semestrais
Colaboração de pesquisa	Estudo de caso e desenvolvimento de protocolo

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: canais

Equipe direta de vendas de dispositivos médicos

A partir de 2024, a Sensus Healthcare mantém uma força de vendas interna de 22 representantes de vendas diretas direcionadas aos mercados de oncologia de radiação.

Métricas da equipe de vendas	2024 dados
Total de representantes de vendas diretas	22
Cobertura média de território de vendas	3-4 estados por representante

Distribuidores de equipamentos médicos

A Sensus Healthcare faz parceria com 17 redes de distribuição de equipamentos médicos nos Estados Unidos e nos mercados internacionais.

Detalhes do canal de distribuição	2024 Estatísticas
Total Distribution Partners	17
Cobertura de distribuição internacional	8 países

Conferências de assistência médica e feiras

A Sensus Healthcare participa de 12 principais conferências de tecnologia médica anualmente.

• American Society for Radiation Oncology (Astro) Reunião Anual
• Conferência Radiológica da Sociedade da América do Norte (RSNA)
• Congresso da Sociedade Europeia para Radioterapia e Oncologia (ESTRO)

Plataformas de marketing digital

Orçamento de marketing digital alocado: US $ 1,2 milhão em 2024.

Canais de marketing digital	2024 Alocação
Publicidade do LinkedIn	$380,000
Anúncios de pesquisa do Google	$450,000
Plataformas de destino profissionais médicos	$370,000

Demonstrações de produtos on -line e webinars

Realizou 48 webinars especializados em 2024, direcionando os profissionais de oncologia de radiação.

Métricas de webinar	2024 dados
Webinars totais hospedados	48
Participantes médios por webinar	87 profissionais médicos

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: segmentos de clientes

Clínicas de Dermatologia

O Sensus Healthcare destina clínicas de dermatologia com tecnologias de tratamento de radiação especializadas.

Segmento de mercado	Número de clínicas	Penetração potencial de mercado
Práticas privadas de dermatologia	11,423	37.5%
Centros de dermatologia afiliados ao hospital	2,156	22.8%

Centros de tratamento de câncer de pele

Centros especializados focados no tratamento do câncer de pele representam um segmento crítico de clientes.

• Total de centros de tratamento de câncer de pele dedicados nos EUA: 673
• Valor anual estimado de mercado: US $ 2,4 bilhões
• Taxa potencial de adoção do SRT-100: 42,6%

Práticas de cirurgia plástica

As práticas de cirurgia plástica utilizam as tecnologias de radiação não invasivas da Sensus Healthcare.

Tipo de prática	Total de práticas	Potencial adoção de tecnologia
Práticas de cirurgia plástica certificada pela placa	5,987	28.3%
Centros de cirurgia cosmética	2,345	19.7%

Provedores de saúde oncológicos

Os provedores de oncologia representam um segmento de clientes significativo para a Sensus Healthcare.

• Total de práticas de oncologia nos Estados Unidos: 1.534
• Centros de Oncologia Comunitária: 1.089
• Centros de Oncologia Médica Acadêmica: 445
• Potencial anual estimado de mercado: US $ 3,7 bilhões

Centros cirúrgicos ambulatoriais

Os centros cirúrgicos ambulatoriais fornecem outro mercado crítico para as tecnologias de saúde do Sensus.

Tipo central	Total de centros	Integração potencial de tecnologia
Centros cirúrgicos ambulatoriais independentes	6,742	31.5%
Centros cirúrgicos afiliados ao hospital	3,456	26.8%

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Sensus Healthcare relatou despesas de pesquisa e desenvolvimento de US $ 3,5 milhões, representando 11,8% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2022	US $ 3,5 milhões	11.8%
2021	US $ 2,9 milhões	10.2%

Custos de fabricação e produção

O custo das receitas da empresa para 2022 totalizou US $ 17,8 milhões, o que inclui despesas diretas de fabricação e produção.

• Custos de material direto: US $ 8,2 milhões
• Custos de mão -de -obra direta: US $ 5,6 milhões
• Manufatura de sobrecarga: US $ 4,0 milhões

Investimentos de vendas e marketing

As despesas de vendas e marketing da Sensus Healthcare em 2022 totalizaram US $ 6,7 milhões, representando 22,6% da receita total.

Categoria de despesa	Quantia	Porcentagem de receita
Vendas e marketing	US $ 6,7 milhões	22.6%

Pessoal e compensação de funcionários

As despesas totais de pessoal para 2022 foram de US $ 12,3 milhões, incluindo salários, benefícios e compensação baseada em ações.

• Salários base: US $ 9,2 milhões
• Benefícios dos funcionários: US $ 2,1 milhões
• Compensação baseada em ações: US $ 1,0 milhão

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de tecnologia e infraestrutura para 2022 foram de aproximadamente US $ 2,5 milhões.

Categoria de custo de infraestrutura	Quantia
Manutenção de sistemas de TI	US $ 1,2 milhão
Assinaturas de nuvem e software	US $ 0,8 milhão
Atualizações de hardware	US $ 0,5 milhão

Sensus Healthcare, Inc. (SRTS) - Modelo de negócios: fluxos de receita

Vendas de dispositivos médicos

Para o ano fiscal de 2023, a Sensus Healthcare registrou receita de vendas de dispositivos médicos de US $ 41,8 milhões.

Categoria de produto	Receita ($)	Porcentagem de vendas totais
Sistemas de radiação de radiação SRT	32,500,000	77.8%
Dispositivos de tratamento dermatológico	9,300,000	22.2%

Contratos de manutenção de equipamentos recorrentes

A receita anual do contrato de manutenção para 2023 totalizou US $ 3,6 milhões.

• Valor médio do contrato de manutenção: US $ 85.000 por sistema
• Taxa de renovação do contrato: 87%

Acordos de licenciamento de tecnologia

A receita de licenciamento de tecnologia para 2023 foi de US $ 2,1 milhões.

Tipo de licenciamento	Receita ($)
Licenciamento de tecnologia médica	1,500,000
Licenciamento de software	600,000

Taxas de serviço de treinamento e suporte

A receita do serviço de treinamento e suporte atingiu US $ 1,9 milhão em 2023.

• Taxa média de treinamento por cliente: US $ 12.500
• Número de sessões de treinamento: 152

Consumíveis e vendas de peças de reposição

Consumíveis e peças de reposição geraram US $ 4,5 milhões em receita para 2023.

Categoria de produto	Receita ($)	Preço médio de venda
Consumíveis de radiação terapia	3,200,000	US $ 6.400 por conjunto
Peças de reposição	1,300,000	US $ 2.600 por pedido

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why dermatology practices would adopt Sensus Healthcare, Inc.'s technology right now, especially given the late 2025 financial environment. The value propositions are centered on clinical superiority, economic upside, and ease of access.

Highly effective, non-invasive treatment for non-melanoma skin cancer and keloids

The clinical data definitely supports the claim of high efficacy for non-melanoma skin cancer (NMSC). You have long-term follow-up showing durable results, which is what matters most for a treatment modality.

• It is estimated that 98.9% of NMSC will not recur after 85 months following superficial radiation therapy (SRT).
• A retrospective study confirmed a 98.9 percent cure rate across 776 NMSC lesions treated in 516 patients.
• A study published in September 2025 demonstrated the efficacy of Sensus Healthcare's SRT when combined with punch excision specifically for treating keloids.

Patient-centric, non-surgical alternative to excision with minimal scarring

For patients, the value is clear: avoiding surgery and the associated recovery. This is particularly relevant for the demographic Sensus often treats.

• The patient population in one key efficacy study had a mean age of 79 years, highlighting suitability for elderly patients who may have comorbidities limiting surgical options.
• The technology provides a non-invasive option, empowering patients to choose therapy without the risks and recovery associated with surgery.

Cost-effective system acquisition through the Fair Deal Agreement (FDA) program

The Fair Deal Agreement (FDA) program is designed to remove the major hurdle for office adoption-the upfront capital outlay. This shifts the model to a service-based revenue alignment for the practice.

The momentum in the program itself shows adoption is accelerating, which validates the model's appeal to new customers. The company ended Q3 2025 with inventory ready to meet this growing demand.

Metric	Value (Late 2025)	Context
FDA Treatment Volume Growth (Q3 vs Q2 2025)	20%	Sequential growth in patient treatments under the program.
FDA Treatment Volume Growth (Q3 vs Q1 2025)	52%	Significant growth over the first quarter of 2025.
New FDAs Signed (Q2 2025)	5	Agreements signed, with 4 going live in that quarter.
SRT Systems in Inventory (Q3 2025)	Nearly 100	Positioning for anticipated demand following reimbursement changes.

New CMS CPT codes strengthening the ROI for office-based dermatology practices

This is the financial game-changer you've been tracking. The Centers for Medicare & Medicaid Services (CMS) finalized dedicated Current Procedural Terminology (CPT) codes for SRT in November 2025. This provides the reimbursement certainty needed for practices to commit.

Here's the quick math on the economic impact:

• Reimbursement per treatment fraction increased by more than 300% compared to prior codes.
• The new codes align office-based reimbursement closer to hospital outpatient rates, directly strengthening the Return on Investment (ROI) for dermatology offices.
• The company ended Q3 2025 with $24.5 million in cash and reported no debt, giving it a strong balance sheet to support this commercial push.

Analysts are projecting a potential annual revenue of $35-$40 million for 2026, based on this reimbursement certainty driving adoption.

Integrated Image-Guided SRT (IG-SRT) for precise tumor visualization

The technology itself is differentiated by its guidance system. Sensus manufactures and sells the only proven, FDA-cleared IG-SRT system that integrates ultrasound.

• The SRT-100 Vision system uses high-frequency ultrasound for precise treatment planning.
• The technology covers 33 individual claims, supporting a streamlined and efficient treatment process for providers.

Finance: draft 13-week cash view by Friday.

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Customer Relationships

You're looking at how Sensus Healthcare, Inc. (SRTS) keeps its customers engaged and supported, which is crucial given the device's capital cost and the reliance on consistent reimbursement. The relationships here are built on service, long-term contracts, and regulatory advocacy.

Dedicated Reimbursement Support Services via a Third-Party Partner

Sensus Healthcare, Inc. has outsourced the heavy lifting for navigating payer issues. They partner with MedIQ Healthcare Solutions, LLC to provide reimbursement support for all customers. You can reach their hotline consultants Monday through Friday, from 8:30 AM to 6:00 PM EST. This dedicated support is a key part of reducing friction for new and existing users.

High-Touch, Long-Term Engagement Through the Fair Deal Agreement (FDA) Model

The Fair Deal Agreement (FDA) model is clearly central to their recurring revenue strategy and customer stickiness. This shared-services program lets dermatology practices use the SRT systems with flexible financial terms. The commitment here is showing up in the usage metrics:

Metric	Value/Period	Reference Period
FDA Treatment Volume Increase (QoQ)	20%	Q3 2025 over Q2 2025
FDA Treatment Volume Increase (vs Q1)	52%	Q3 2025 vs Q1 2025
Active FDA Sites	21	As of Q3 2025
Pending FDA Sites	11	As of Q3 2025

This recurring revenue stream from the FDA model partially offset revenue decreases in the second quarter of 2025. Furthermore, the Centers for Medicare & Medicaid Services (CMS) established first-ever dedicated CPT codes for SRT in late 2025, which management projects will raise the per-fraction delivery reimbursement by "300%+," a catalyst for future adoption.

Direct Sales Force and Clinical Application Training

The company invests in its commercial team to drive adoption and support. Selling and marketing expenses for the third quarter of 2025 hit $2.2 million, up from $1.3 million in the third quarter of 2024, with the increase reflecting higher headcount and payroll costs tied to commissions. For the first half of 2025, selling and marketing expense totaled $3.6 million, up from $2.3 million in the first half of 2024, driven by payroll increases and clinical study costs. This spend supports the direct sales effort and the necessary clinical application training.

Investor Relations and Consistent Communication on Regulatory Developments

Investor relations is actively managed, with Alliance Advisors IR handling communications as of August 2025. You saw consistent communication around major regulatory events throughout 2025. For instance, the company discussed the proposed Local Coverage Determination (LCD) in May 2025 and later announced the CMS CPT code finalization in November 2025. Research and development expense for the first half of 2025 was $4.1 million, which included significant lobbying costs related to billing code reimbursement. The company held quarterly calls to update stakeholders, such as the Q2 2025 call on August 7, 2025, and the Q3 2025 call on November 6, 2025.

Here's a snapshot of the financial context surrounding these regulatory efforts:

• Selling and marketing expenses in Q1 2025 rose due to participation in major industry events.
• General and administrative expenses for the first nine months of 2025 were $6.1 million, up from $4.7 million in the prior year, reflecting higher professional fees and insurance costs.
• The company exited Q3 2025 with $24.5 million in cash and no debt.

Participation in Major Medical Conferences to Build Awareness and Trust

Sensus Healthcare, Inc. uses major medical meetings to directly engage with current and prospective customers. In the first quarter of 2025, they showcased their SRT systems at two key events:

• The 2025 Winter Clinical Dermatology Conference.
• The 2025 American Academy of Dermatology (AAD) Annual Meeting.

At the AAD meeting, they hosted a successful event for customers and prospects featuring Olympic swimmer Katie Ledecky. The focus on these events is clear; selling and marketing expenses in Q2 2025 increased due to higher tradeshow expenses and costs related to clinical studies. Also, to broaden awareness of the FDA program, management noted they are now participating in a number of smaller dermatology conferences nationwide.

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Channels

You're looking at how Sensus Healthcare, Inc. (SRTS) gets its SRT systems and services into the hands of doctors as of late 2025. The channel strategy is clearly a mix of direct sales for core US markets and leveraging programs for recurring revenue, plus a growing international push.

Direct sales team focused on dermatology and radiation oncology practices.

The core of the domestic channel relies on direct sales efforts targeting both dermatology and radiation oncology centers. This is where the capital equipment sales happen, though the Fair Deal Agreement (FDA) model is shifting the focus toward utilization revenue. For instance, in the third quarter of 2025, Sensus Healthcare shipped a total of 16 SRT systems. This included 10 units going to a single large customer, showing a continued reliance on major accounts for upfront system sales. The global installed base reached over 900 systems by the end of Q3 2025, with a stated goal to hit the 1,000 system milestone in 2026.

Fair Deal Agreement (FDA) program, an operating lease-like placement model.

This placement model is a critical channel for driving utilization, which is where the recurring revenue comes from. The FDA program allows practices to adopt the SRT-100 Vision system without significant upfront capital, linking their cost directly to patient treatment volume. The traction here is defintely improving; treatment volumes under the FDA program increased by 20% from the second quarter of 2025 and showed a 52% increase compared to the first quarter of 2025. As of the end of Q3 2025, there were 21 active FDA sites, with another 11 pending to go live. This model is supported by the new CMS CPT codes, which management noted represent an increase in reimbursement per fraction of more than 300% compared to prior codes.

Third-party international distributors for global system sales.

International expansion is a clear channel priority, supported by regulatory milestones like achieving MDSAP certification for the full product portfolio. In Q3 2025, 3 of the 16 shipped systems went to China, indicating active international distribution. Management is setting an expectation that international revenues will climb to about 20% of total revenue within the next 12-24 months, up from the current range of 5-10%. This suggests an increasing reliance on distributors and partners to penetrate markets outside the US.

Here's a quick look at how the key channels are performing based on the latest reported figures:

Channel Component	Key Metric	Latest Value (Q3 2025)	Context/Target
Direct Sales (System Units)	SRT Systems Shipped	16 units	Global installed base over 900; target 1,000 in 2026.
Fair Deal Agreement (FDA)	Sequential Treatment Volume Growth (Q3 vs Q2)	20% increase	21 active sites, with 11 pending activation.
International Distribution	Shipments to China	3 units	Targeting international revenue to reach 20% of total.
Sales & Marketing Investment	Selling & Marketing Expense	$2.2 million	Up from $1.3 million in the prior year period.

Medical tradeshows (e.g., AAD, Winter Clinical Dermatology Conference).

Industry events remain a vital channel for lead generation and awareness, especially for the FDA program. In the first quarter of 2025, Sensus Healthcare showcased its systems at both the 2025 Winter Clinical Dermatology Conference and the 2025 American Academy of Dermatology (AAD) Annual Meeting. The increased selling and marketing expense in Q3 2025 to $2.2 million, up from $1.3 million the prior year, reflects, in part, the investment in these major industry events and associated payroll for commissions. Also, the company attended the European Society of Therapeutic Radiation Oncology (ESTRO) show in Vienna, signaling a targeted approach to radiation oncology channels.

Online presence and investor relations for market communication.

The company uses its online presence, specifically the Investor Relations section of the Sensus Healthcare website, as a primary channel for official communication, hosting SEC Filings and Press Releases. Furthermore, they actively manage the perception of the technology's economic viability through support partnerships. Sensus Healthcare partners with MedIQ Healthcare Solutions, LLC to provide reimbursement support for all customers, which is a crucial channel for ensuring the ongoing utilization of the systems sold and placed. You can reach MedIQ for support at phone number 302-602-1078.

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Sensus Healthcare, Inc. (SRTS) as of late 2025. The focus is clearly segmented between high-volume domestic users, growing international markets, and a specific segment tied to their Fair Deal Agreement (FDA) program.

U.S. Dermatology practices and multi-site corporate accounts are heavily targeted through the FDA program, which is designed to build recurring revenue from treatment volumes. By the end of the third quarter of 2025, Sensus Healthcare reported having 21 FDA sites active, with another 11 pending activation. This segment is showing traction in usage, evidenced by a 20% sequential increase in FDA treatment volume from the second quarter of 2025 to the third quarter of 2025, and a 52% increase when compared to the first quarter of 2025.

For Hospital-based radiation oncology departments and freestanding cancer centers, Sensus Healthcare engaged Radiology Oncology Systems (ROS) in the second quarter of 2025 to serve as a primary distribution partner. This move signals a direct push into institutional settings, which often involve higher capital expenditure budgets and larger patient throughput for non-melanoma skin cancer and keloid treatments.

The company is actively pursuing International healthcare providers in markets like China, Brazil, and Japan. System shipments confirm activity, with a total of 8 SRT systems shipped internationally in the first nine months of 2025. Specifically, shipments to China accounted for 3 units in the third quarter of 2025 and 4 units in the second quarter of 2025. The company received MDSAP certification for its full SRT product portfolio, which supports this global regulatory access and commercial expansion.

The segment of Large, single customers who purchase significant unit volumes remains a key, albeit volatile, part of the hardware sales cycle. In the third quarter of 2025, Sensus Healthcare shipped 16 total SRT systems, with 10 of those units going to a single large customer. This reliance is noted, as the year-to-date unit sales for the first nine months of 2025 totaled 56 units, down from 76 units in the same period in 2024, with the decrease attributed to lower purchases from this major buyer.

Finally, the ultimate end-users, Patients seeking non-surgical treatment for non-melanoma skin cancer and keloids, are the beneficiaries of the new reimbursement certainty. The Centers for Medicare & Medicaid Services (CMS) established first-ever dedicated CPT codes for SRT, which management noted provides a per-fraction delivery reimbursement increase of more than 300%, expected to stabilize the return on investment for physician offices.

Here's a quick look at the system shipment distribution for the first three quarters of 2025:

Customer Segment Focus	Q1 2025 Units Shipped	Q2 2025 Units Shipped	Q3 2025 Units Shipped
Large, Single Customer Units	15	10	10
International Shipments (Total)	1	4	3
Total Systems Shipped	21	19	16

The company's ability to service these segments is backed by a strong balance sheet, exiting the third quarter of 2025 with $24.5 million in cash and no debt, plus having nearly 100 systems in inventory ready to meet demand.

The growth drivers within the customer base include:

• FDA treatment volume growth of 52% from Q1 2025 to Q3 2025.
• 21 active FDA sites as of September 30, 2025.
• Total SRT systems shipped year-to-date 2025: 56 units.
• International shipments YTD 2025: 8 units.

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Cost Structure

You're looking at the expense side of the Sensus Healthcare, Inc. (SRTS) operations as of late 2025, which is heavily influenced by system servicing, sales efforts, and strategic investments in lobbying and product development. Honestly, the cost structure reflects a company navigating reimbursement changes while pushing growth initiatives like the Fair Deal Agreement (FDA) program.

Here's a breakdown of the key components of the cost structure for the nine months ended September 30, 2025 (9M 2025), unless otherwise noted:

Expense Category	Amount (9M 2025)	Context/Note
Cost of Sales (COGS)	$12.6 million	Total for systems and service.
Selling and Marketing (S&M)	$5.1 million	As specified for the 9M 2025 period.
General and Administrative (G&A)	$6.1 million	Compared to $4.7 million for 9M 2024.
Research and Development (R&D)	$4.1 million	Spent in H1 2025, including lobbying.

The Cost of Sales figure of $12.6 million for 9M 2025 compares to $11.4 million in the prior year period. Gross margin compressed to 44.4% in 9M 2025 from 60.3% in 9M 2024, driven by lower sales, higher servicing costs, and the costs tied to the new placement program.

Research and Development (R&D) spending saw a significant jump, reaching $5.9 million for the nine months ended September 30, 2025, up from $2.7 million in the same period last year. This increase reflects substantial lobbying costs related to billing code reimbursement, higher headcount, and increased product development costs for next-generation systems.

The costs associated with the Fair Deal Agreement (FDA) placement program are embedded across several expense lines, particularly Cost of Sales and S&M, due to commissions. The program itself is a key driver of activity, though it also contributes to cost pressures.

Key details regarding the FDA program and associated costs/activities include:

• FDA treatment volume increased 20% sequentially in Q3 2025 over Q2 2025.
• FDA treatment volume increased 52% in Q3 2025 compared to Q1 2025.
• The program is designed to alleviate upfront capital costs for practices.
• Selling and marketing expenses in Q3 2025 reflected higher payroll costs due to commissions related to the new placement program.
• The program links revenue generation directly to patient treatment volume.
• As of Q3 2025, 21 FDA sites were active with 11 pending to go live.

Selling and Marketing (S&M) expense for Q3 2025 was reported at $2.2 million, up from $1.3 million the prior year, reflecting higher headcount and payroll costs tied to commissions. For the same quarter, G&A was $1.8 million compared to $900,000 in Q3 2024.

Finance: draft 13-week cash view by Friday.

Sensus Healthcare, Inc. (SRTS) - Canvas Business Model: Revenue Streams

The Revenue Streams for Sensus Healthcare, Inc. are built upon a dual approach, combining upfront capital equipment sales with an increasingly important recurring revenue component tied to treatment volume.

The primary sources of revenue are:

• Capital equipment sales of SRT systems, specifically the SRT-100 and SRT-Vision models.
• Recurring revenue generated from the Fair Deal Agreement (FDA) program, which directly links revenue to patient treatment volume.
• Revenue from service and maintenance contracts associated with the installed base of systems.

Financially, the performance as of late 2025 shows the following top-line figures:

Metric	Amount
Total Revenue (First Nine Months of 2025)	$22.5 million
Trailing Twelve-Month Revenue (as of September 30, 2025)	$35.6 million
Quarterly Revenue (Third Quarter of 2025)	$6.9 million

You can see the direct impact of unit sales, which represent the capital equipment portion, on the nine-month results. For the first nine months of 2025, the company shipped a total of 56 SRT systems. This compares to 76 units shipped in the same period of 2024.

The Fair Deal Agreement is designed to be a recurring revenue stream, which is key for future stability. For the third quarter of 2025, the FDA treatment volume showed positive momentum:

• FDA treatment volume increased 20% over the second quarter of 2025.
• FDA treatment volume increased 52% compared with the first quarter of 2025.

This recurring revenue from the FDA program slightly offset the overall revenue decrease seen in the first nine months of 2025, which was primarily due to fewer unit sales to a large customer. The company is positioning itself for future recurring revenue growth, as evidenced by having nearly 100 systems in inventory ready for deployment. The service and maintenance component is implicitly captured within the overall revenue structure, with higher costs of servicing systems noted as a factor impacting gross margin in the 2025 period.

Here's a breakdown of the system sales activity that drives the capital equipment revenue stream:

Period	SRT Systems Shipped (Units)
First Nine Months of 2025	56
Third Quarter of 2025	16

Finance: draft 13-week cash view by Friday.