Sensus Healthcare, Inc.

Good day and welcome to the Census Health Care First Quarter 2024 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Kim Golodets, LHA and Vista Relations. Go ahead, please.

Thank you. This is Kim Golodets with LHA. Thank you all for participating in today's call. Joining me from Census Healthcare are Joe Sardana, Chairman and Chief Executive Officer Michael Sardana, President and General Counsel, and Javier Rampolla, Chief Financial Officer. As a reminder, some of the matters that will be discussed during today's call contain forward-looking statements within the meaning of federal securities laws. All statements other than historical facts that address activities Census healthcare assumes, plans, expects, believes, intends, or anticipates, and other similar expressions will, should, or may occur in the future are forward-looking statements. The forward-looking statements are management's beliefs based on currently available information as of the date of this conference call, May 9, 2024. Census Healthcare undertakes no obligation to revise or update any forward-looking statements except as required by law. All forward-looking statements are subject to risks and uncertainties as described in the company's Forms 10-K and 10-Q. During today's call, references will be made to certain non-GAAP financial measures. Census believes these measures provide useful information for investors, yet they should not be considered as a substitute for GAAP, nor should they be viewed as a substitute for operating results determined in accordance with GAAP. A reconciliation of non-GAAP to GAAP results is included in today's financial results press release. With that said, I'd like to turn the call over to Joe Sardano. Joe?

Thank you, Kim, and good afternoon, everyone. I'm delighted to report excellent results for Q1 2024. Census Healthcare has seen some very positive momentum, and as the dermatology community recognizes the importance of IGSRT to their patients and their practices as non-invasive and highly efficacious in modality to treat non-melanoma skin cancer. Dermatologists are now benefiting from a choice in acquisition options, including our new fair deal agreement formally introduced at the AAD in March, which complements our proven fair market value lease program. The fair deal agreement is gaining momentum as we continue to expose the details to our dermatology community and as the word begins to spread throughout. Our first quarter financial results were very, very good as we more than tripled revenues compared with comparable 2023 quarter. In addition, we recorded a substantial profit that reflects our customers' adjustments to the macroeconomic environment, especially compared with last year's net loss. We shipped 26 systems during the quarter compared with 10 a year ago when inflation and macroeconomic uncertainty had pronounced effect on our customers' businesses, confidence, and spending plans. Although macroeconomic headwinds persist, we are seeing a determined shift by the dermatologists toward a medical dermatology platform versus aesthetic dermatology. As we do this time every year, we attend three very important trade shows and enjoyed excellent booth traffic at all of them. In February, we attended the Winter Clinical in Miami and the South Beach Symposium. Then in March, we attended the American Academy of Dermatology annual meeting where we launched our new fair deal agreement to the largest annual gathering of dermatologists in the U.S. with more than 10,000 medical personnel at this year's event. Under the Fair Deal Agreement, dermatology offices gain access to census image-guided award-winning superficial radiotherapy technology under a new service model with an economic value proposition that's second to none. Census manufacturers themselves only proven FDA-cleared IG SRT system and holds a patent for SRT combined with ultrasound, which is deeper and more effective. The response among conference attendees exceeded our most optimistic expectations. We also generated a record high number of sales leads for our portfolio of SRT products. Quite simply, we are now delivering the best technology under the best agreement while offering customers an economic choice. Our proven technology has the simplest formula to treat non-melanoma skin cancer non-invasively and with the highest cure rates of up to 99.1%. This new fair deal agreement complements our longstanding capital equipment sales model and more recently, our fair market value lease model to expand our market. Our corporate and SRT vision brands are well established and highly regarded in the industry and dermatologists know they will get unmatched product quality, the best customer service, and the most compelling value proposition with census. We're delighted to have already entered into several contracts under the Fair Deal Agreement, and we've assembled a growing pipeline of leads that we expect to convert as the year progresses. To review, the Fair Deal Agreement is a recurring revenue option that addresses the customer's need to deploy capital to other areas of their business, and it facilitates what we believe is a compelling economic model. We've been carefully preparing this model for more than a year, making sure that the economics work for both our customers and for us, and ensuring that we were abiding by all applicable laws and regulations. Note also that the capabilities of the SRT 100 vision with image-guided ultrasound and the availability of Sentinel technology, which includes HIPAA-compliant planning software, make the recurring revenue model possible. The improved high-resolution image-guided ultrasound technology provides a see and treat capability, which leads to great clinical outcomes because the physician can actually see the impact of each treatment on the lesion and the lesion resolution after treatment. The combination of our world-class technology and now a user-friendly agreement provides our base with the best value proposition in the market today. To enhance the fair deal agreement, during the first quarter, we engaged Curays to provide customers with oversight and supervision and facilitate the utmost efficiency and effectiveness of the dermatology practice. In addition, Curays will research new indications for sensitive superficial radiotherapy including inflammatory diseases. In addition to launching the Fair Deal Agreement at these trade shows, we also showcased the state of the art capabilities embedded in the SRT100 vision. This included our newly patented technology covering 33 individual claims. The patent describes the technology that essentially a treatment planning system made possible by fusing a radiation therapy device with high frequency ultrasound permitting seamless operation. Between interest in this new technology and our new sales offering, we have assembled a significant pipeline of potential customers, so much so that we've ordered more inventory to satisfy anticipation by the end of the year and the demand, as Javier will highlight in his prepared remarks. While dermatology is our primary market, we continue to engage with this radiation oncology market, which is mainly a hospital-based channel. As a reminder, this market has a longer sales cycle as we continue to generate increased interest. Turning now to our transdermal infusion or TDI product, recall that we filed a 510 application with the US FDA in the fourth quarter of 2023. We're still awaiting a response from the agency and are optimistic it will be coming in the second half of this year. We've generated a great deal of interest in our TDI product and trade shows as it works in progress. This system will, for example, allow platelet-rich plasma, or PRP, to be applied to the scalp in a pain-free restoration experience. In addition, posters have already been presented on its application for hyperhidrosis or overactive sweat glands. Our transdermal system includes Sentinel IT solution capabilities. With those remarks, I'll turn the call over to Michael Cerdano, our President and General Counsel, who will give you a brief update on our international business. Michael.