Leases

6 Months Ended

Jun. 30, 2025

Note 5 — Leases

Operating Lease Agreements

The Company leases its headquarters office from an unrelated third party under a lease expiring in September 2027. The amortization expense of the right of use lease asset was $59 thousand and $48 thousand for the three months ended June 30, 2025 and 2024, respectively, and $118 thousand and $95 thousand for the six months ended June 30, 2025 and 2024, respectively. In January 2025, the Company entered into a sublease agreement with an unrelated third party to lease a new office space which is adjacent to the current headquarters office. The term of the sublease ends in September 2027.

The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating leases as of June 30, 2025.

Schedule of Received Lease Agreements

Maturity of Operating Lease Liability	Amount
2025 (July 1 - December 31, 2025)	$	138
2026		281
2027		214
Total undiscounted operating leases payments	$	633
Less: Imputed interest		(38	)
Present Value of Operating Lease Liability	$	595
Operating lease liability, current portion	$	252
Operating lease liability, net of current portion	$	343

Other Information
Weighted-average remaining lease term		2.25 years
Weighted-average discount rate		5.32	%

Cash paid for amounts included in the measurement of the operating lease liability was $118 thousand and $85 thousand for the six months ended June 30, 2025 and 2024, respectively, and is included in cash flows from operating activities in the accompanying condensed consolidated statements of cash flows.

Operating lease cost recognized as expense was $68 thousand and $57 thousand for the three months ended June 30, 2025 and 2024, respectively, and $136 thousand and $114 thousand for the six months ended June 30, 2025 and 2024, respectively. The financing component for operating lease liability represents the effect of discounting the operating lease payments to their present value.

Lessor Accounting

The Company, through its subsidiary, Sensus Healthcare Services, LLC, leases superficial radiotherapy equipment to dermatology clinics. The leases generally have initial lease terms of sixty months and automatically renew for a one-year period upon the expiration of the initial lease terms. Payments due under the leases may be fixed or variable payments.

The component of lease income for the three and six months ended June 30, 2025 is as follows:

Schedule of Operating Lease Income

	For the		For the
	Three Months Ended		Six Months Ended
(in thousands)	June 30, 2025		June 30, 2025
Lease income - operating leases - fixed payments	$	64	$	128
Lease income - operating leases - variable payments		294		429
Total	$	358	$	557

The future minimum fixed lease payments to be received under the lease agreements as of June 30, 2025 are as follows:

Schedule of Received Lease Agreements

(in thousands)	Amount
2025 (July 1 - December 31, 2025)	$	128
2026		256
2027		256
2028		256
2029		256
Thereafter		87
Total	$	1,239

Sensus Healthcare, Inc. 10-Q