Sensus Healthcare, Inc.

Good day and welcome to the Census Healthcare first quarter 2025 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 your telephone keypad. 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 Tirth Patel with Alliance Advisors. Please go ahead.

Tirth Patel Good afternoon. This is Tirth Patel with Alliance Advisors IR. Thank you all for joining today's call to discuss Census Healthcare's first quarter 2025 financial results. Joining me from Census are Joe Sardano, Chairman and Chief Executive Officer, Michael Sardano, 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 that will, should, or may occur in the future are forward-looking statements. The forward-looking statements are management's beliefs based upon currently available information as of the date of this conference call, May 15th, 2025. 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, 10-Q, and other SEC filings. 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 news release. With that, I'd like to turn the call over to Joe Sardano. Joe?

Joe Sardano Thank you, Terz. Good afternoon, everyone, and thank you for joining us today. During the first quarter, we invested several important sales and marketing research and development initiatives that we expect will benefit our business for the remainder of the year and beyond. Of particular note, we significantly expanded awareness of our fair deal agreement program and strengthened our brand visibility through a strong presence at several major industry events and through targeted marketing activities. Revenues for the first quarter came in at 8.3 million, and during the quarter, we shipped 21 SRT systems, bringing our total installed base to over 880 systems. This does not include 11 fair deal agreements initiated with six going live in Q1. We're on track to surpass 900 systems by the end of the second quarter, and expect to reach the milestone of 1,000 units under direct sale within the next 12 months. Although first quarter profitability was impacted by elevated marketing and one-time legal expenses, we felt that the timing of these investments was warranted as they are fundamental to accelerating our trajectory of profitable growth. We expect to return to profitability in each of the next three quarters and to be profitable for the full year. Our marketing activities were very robust last quarter, with a strong presence at key industry events, including the Winter Clinical, Maui Derm, and the American Academy of Dermatology annual meeting. Our dinner event at the AED featured Olympic gold medalist Katie Ledecky, attracted hundreds of attendees, which exceeded our expectations and the maximum capacity of the room. Yet that response highlights a significant interest in IG SRT and enthusiasm from prospective customers in our various SRT product acquisition programs, which support our decision to order more units by year end to satisfy anticipated demand. In addition to the big three DERM conferences, we participated in several smaller meetings nationwide. These conferences provide a more intimate opportunity to speak with prospective customers and expand our reach and have yielded a strong pipeline of new FDA opportunities. Building on recent successes, we intend to continue with this grassroots sales channel throughout the year. Not only are we spreading the word about FDA, but we also secured multiple new fair deal agreements at these conferences. As you know, the FDA provides substantial long-term financial and strategic advantages to census, notably enhancing the visibility and predictability of our revenue streams. We continue to expect these agreements will begin to contribute significantly to our revenue in the second half of the year. Although this program is still relatively new, we're encouraged by a 65% increase in patient treatments from our fair deal agreement installations when comparing first quarter volumes with the fourth quarter. This underscores our belief that patient utilization ultimately drives long-term profitability and recurring revenue, and that this program is a winner. With that overview, I'll turn the call over to Michael for additional strategic and operational insights. Michael. Thanks, Joe.