Sensus Healthcare, Inc. (NASDAQ:SRTS) Q1 2023 Earnings Conference Call May 2, 2023 4:30 PM ET

Company Participants

Kim Golodetz - Lippert/Heilshorn & Associates

Joseph Sardano - Co-Founder, Chairman and CEO

Michael Sardano - President and General Counsel

Javier Rampolla - CFO

Conference Call Participants

Scott Henry - ROTH Capital

Chaitanya Gollakota - H.C. Wainwright

Anthony Vendetti - Maxim Group

Benjamin Haynor - Alliance Global Partners

Operator

Good afternoon and welcome to the Sensus Healthcare First Quarter 2023 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Kim Golodetz. Please go ahead.

Kim Golodetz

Thank you. This is Kim Golodetz with LHA. Thank you all for participating in today's call. Joining me from Sensus Healthcare are Joseph 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 Sensus 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 3rd, 2023. Sensus 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 conference call, references will be made to certain non-GAAP financial measures. Sensus 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 Joseph Sardano. Joe?

Joseph Sardano

Thank you, Kim and good afternoon everyone. Our first quarter financial results are disappointing as potential new customers delayed making SRT purchase decisions as inflation has impacted their business in two ways.

First, many dermatologists depend on elective aesthetic procedures as a meaningful source of practice revenue and profit. And inflation has caused consumers to pull back on these expenditures, either having these procedures done less frequently or foregoing them altogether.