Sensus Healthcare, Inc.

Good afternoon and welcome to the Census Healthcare Fourth Quarter and Full Year 2025 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. 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 IR. Please go ahead.

Good afternoon. This is Tirth Patel with Alliance Advisors IR. Thank you all for joining today's call to discuss Census Healthcare's fourth quarter and full year 2025 financial results. Joining me from Census are Joe Sardano, Chairman and Chief Executive Officer, Michael Sardano, President, Chief Commercial Officer 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 upon currently available information as of the date of this conference call, February 12th, 2026. 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 press release. With that, I'd like to turn the call over to Joe Sardano. Joe?

Thank you, Terrence, and good afternoon, everyone. Thank you for joining us today. Let me start by providing some context around our end-of-year activities and the wonderful news received from CMS. SRT and IG SRT are non-invasive technology that was exclusively designed, developed, and distributed by Census Healthcare. Our SRT technology has been awarded exclusive and dedicated CPT codes that provide physicians unequivocally and clear reimbursement for treating patients with non-melanoma skin cancer. Let's be reminded that the American Academy of Dermatology states that one in five people in America will have skin cancer. After 16 years of relentless pursuit, these codes provide census with a fresh start, a clear path forward for physicians and patients who continuously seek a non-invasive alternative the scarring, and the lengthy healing times caused by surgery. This demand for a non-surgical choice is clearly becoming an increasingly popular choice of patients as they learn of their treatment options as the Medicare statistics have indicated over the past several years. We begin in 2026 with new codes. Twenty-two million in cash on hand, zero debt and a motivated sales force that we intend to expand during the course of Q1. As we continue to educate the physicians of these new reimbursement codes, we feel that adoption will grow steadily and continuously for years to come. You will notice that the 14 units we shipped in the quarter did not include any sales to our very large customer. Although we believe they will continue to contribute to our business in the future, Our growth will come from direct sales and shared services with the end users. We will no longer have to rely on any one entity. We also expect that our international business will continue to grow along with our primary U.S. market. For quite some time, two factors have weighed heavily on our business, customer concentration and the absence of reimbursement codes dedicated specifically to our technology. With CPT codes for our SRT and IGSRT technology to treat non-melanoma skin cancer now being used and with a more diversified customer base emerging, both of these factors have been addressed. Turning to our fair deal agreement program, this continues to be an important strategic component of our business. We ended the year with 18 active FDA sites and 10 additional sites pending activation. More importantly, utilization across the program increased substantially year over year. During 2025, treatments were up more than eightfold versus 2024, and the number of patients treated increased by more than 250%. While the market was awaiting news from CMS regarding the codes, we responsibly advised our prospects and customers to place a hold on moving forward until the new codes were made public. All of our customers appreciated the honesty of us informing them of these developments. While the broader market was awaiting reimbursement clarity, in several cases, FDA placements have served as a bridge to ownership, with customers electing to purchase systems outright once they did the math on purchase economics. International demand was strong in the fourth quarter as we shipped six systems internationally, including shipments to China. International sales continues to be attractive for a margin perspective due to lower installation, commissioning, and servicing requirements. And we expect international markets to remain an important part of our growth strategy. Looking ahead, we are encouraged by early activity in the first quarter of 2026. Based on our current pipeline and customer engagement, we expect first quarter system shipments to exceed fourth quarter levels even without any contribution from our historically largest customer. More broadly, 2026 represents a fundamentally different operating environment for census healthcare. With reimbursements certainly now established, a more diversified customer base, and expanding international opportunities, our objective is to achieve full-year profitability in 2026. With that, I'll turn the call over to Michael to discuss our strategic initiatives, and commercial outlook in more detail. Michael?