In This Article:
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Total Revenue: EUR13.1 million, an increase of 11.6% year-over-year.
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HIFU Business Revenue: EUR4.5 million, a growth of 48.2% year-over-year.
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Distribution Business Revenue: EUR6.6 million, up from EUR6 million in the previous year.
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Litho Business Revenue: EUR2 million, down from EUR2.7 million in the previous year.
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Gross Profit: EUR5.2 million, compared to EUR4.2 million in the previous year.
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Gross Profit Margin: 39.4%, up from 35.5% in the previous year.
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Operating Expenses: EUR11 million, up from EUR9.7 million in the previous year.
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Operating Loss: EUR5.8 million, compared to EUR5.6 million in the previous year.
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Net Loss: EUR6.4 million or EUR0.17 per diluted share, compared to EUR3.9 million or EUR0.11 per diluted share in the previous year.
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Ending Inventory: EUR21 million, up from EUR15.1 million at the end of 2023.
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Total Cash and Cash Equivalents: EUR25.5 million, down from EUR43.5 million at the end of 2023.
Release Date: November 07, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Edap TMS SA (NASDAQ:EDAP) reported a 34% year-over-year growth in US focal one HIFU procedures, indicating strong adoption by urologists.
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The HIFI study results suggest that EDAP's HIFU technology is as effective as radical prostatectomy, with better functional outcomes.
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CMS finalized a 5.4% increase in Medicare hospital payment rates for HIFU procedures, supporting favorable reimbursement.
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The company announced a collaboration with VDA Health to launch AI-assisted focal one robotic HIFU procedures, enhancing treatment precision.
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Edap TMS SA (NASDAQ:EDAP) achieved a record third-quarter revenue of EUR13.1 million, marking an 11.6% increase from the previous year.
Negative Points
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The litho business revenue decreased to EUR2 million from EUR2.7 million in the same period last year, due to fewer lithotripsy unit sales.
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Operating expenses increased to EUR11 million, primarily due to investments in focal one commercial operations.
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The company reported a net loss of EUR6.4 million for the third quarter, compared to a EUR3.9 million loss in the previous year.
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Cash and cash equivalents decreased significantly to EUR25.5 million from EUR43.5 million at the end of 2023.
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The primary endpoint of superior reduction in acute pelvic pain in the HIFU arm of the endometriosis study was not reached.
Q & A Highlights
Q: Can you elaborate on the hospital customer pipeline and Focal One placements, particularly regarding expectations for the second half of the year? A: Ryan Rhodes, CEO: We saw good activity in the third quarter and are building our pipelines. Some sales slipped into Q4, but we still plan for a stronger second half. Engagement remains high, especially following key scientific meetings, indicating strong growth in the latter half of the year.