Sensus Healthcare, Inc.

Welcome to Census Health Care's first quarter 2026 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 Lee Salvo with New Street Investor Relations. Please go ahead.

Good afternoon, and thank you all for joining today's call to discuss Census Healthcare's first quarter 2026 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 belief based upon current available information as of the date of this conference call, May 7, 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, Lee, and good afternoon, everybody. We appreciate you joining us today. The first quarter of 2026 represents an important transition period for census healthcare. With the dedicated CPD codes for superficial radiotherapy now in effect as of January 1, We are now operating in a fundamentally different environment than ever before. We are tasked with the responsibility of helping our entire industry pivot to the new reality. For quite some time, two factors weighed heavily on our business, customer concentration and the absence of reimbursement clarity. Today, we believe both of those factors are beginning to shift in a meaningful way. I'd like to frame our discussion today around five priorities that we believe will define our progress in 2026 and provide a clear framework for tracking our execution over the course of the year. Number one, educate the market on the new reimbursement and train them on how to utilize the codes. Two, drive customer adoption following CPT code implementation. Three, grow our recurring and utilization-based revenue streams. Four, diversify and strengthen the commercial model. And last, number five, deliver sustainable profitability. Our entire first quarter was dedicated to helping existing customers and new prospects better understand the new reimbursement coding. Initial results are excellent. The coding is simple and straightforward. And for those who have built CMS under the new coding, they are already seeing a smooth transition by the payers as our users receive reimbursements. So both physicians and patients will continue to grow in confidence that SRT is receiving full funding. Which brings us to customer adoption and CPT impact. One of the strategic priorities is converting the new reimbursement environment into a broader customer adoption and more diversified installed base. During the first quarter, we began to see the benefits of the new CPT codes move from concept to commercial reality. With reimbursement now clearly defined and physician economics significantly improved, including approximately a 300% increase in the per fraction delivery code, we are seeing increased inquiry levels and stronger pipeline development, a growing pipeline of qualified opportunities as of quarter end, and greater engagement from dermatology practices and hospital systems. We shipped 14 SRT systems during the quarter, including 10 direct sales and four placements under the fair deal agreement, as well as rental arrangements. Importantly, these shipments reflect continued progress in broadening our customer base and meaningfully reducing historical customer concentration. We were able to match our sales from Q4 which we believe will improve upon quarter over quarter for the balance of the year and into 2027. We saw strong momentum coming out of several major dermatology conferences during the quarter where physician interest and engagement levels were among the highest we have experienced. These events continue to be critical driver of our pipeline growth and customer education as awareness of the new reimbursement environment increases In addition to the benefit of SRT as a non-invasive alternative to Mohs surgery, patients are deciding more and more of their preference to avoid surgery. Recurring revenue growth, the FDA plus software. Another priority is expanding recurring revenue streams tied to utilization of our installed base and new prospects. There are still groups who prefer a shared service program as indicated by the four of 14 units shipped in Q1. We are confident this will continue to grow. Our fair deal agreement program continues to be a driver of utilization-based revenue during the quarter. Treatment volumes increased 8% over the first quarter of 2025. And we continue to increase the number of patients. We ended the quarter with 18 active FDA sites and nine pending activations. As we've said previously, FDA placements often serve as a bridge to system ownership, and we continue to see that dynamic play out as customers better understand the economics under the new reimbursement environment. Importantly, we are now taking additional steps to expand recurring revenue through software and services. The introduction of Census Link represents an important evolution of our model, enabling enhanced workflow treatment documentation, and operating intelligence across our installed base while creating a scalable recurring revenue opportunity tied to treatment activity. We view this as an important step in evolving our business model toward a more predictable and recurring revenue profile in the future. Over time, we expect recurring revenue, including FDA, service, and software, to represent an increasing percentage of total revenue which historically has been about 10%, commercial expansion and diversification. Our next priority is broadening commercial reach through access to our technology and reducing volatility by creating more ways for customers to acquire and use census systems. We are seeing increased interest across a wider range of customers, including independent dermatology practices, group networks, hospital systems, and private equity-backed platforms. To support this, we recently launched Census Healthcare Financial Services, which provides a streamlined pathway for customers to acquire our systems through flexible financing options. Since launch, we have begun actively engaging with prospective customers to utilize through this platform and are seeing improved conversion rates on late-stage opportunities. We are also seeing a shift in customer preference towards purchase compared to prior periods where fair deal agreement program participation was the primary entry point. We now have to ask the question, why do you want to give up 50% of your revenue when one patient procedure per month represents your breakeven? Profitability. Our priority is translating stronger demand, a growing recurring revenue base and disciplined expense management into profitability. We are entering the new phase with a strong balance sheet, including 18.3 million in cash and no debt. While our first quarter results continue to reflect transition away from historical customer concentration, we believe the combination of improved reimbursement, a more diversified customer base, expanding recurring revenue streams, and disciplined expense management positions us to deliver improved financial performance over the balance of 2026 with the objective of achieving full year profitability. With that, I'll turn the call over to Michael to provide more detail on our commercial execution and growth initiatives. Michael?