EDAP TMS SA Reports Record Q4 Revenue

TL;DR

EDAP TMS SA crushed Q4 2023 with record revenue, up 24.8% YoY!

AI Summary

EDAP TMS SA reported record fourth quarter 2023 total revenue of EUR 19.6 million ($21.3 million USD), a 24.8% increase over Q4 2022. The company also achieved record Q4 2023 HIFU revenue of EUR 7.5 million ($8.1 million USD), up 38.8% year-over-year. These results were announced on March 27, 2024.

Why It Matters

The strong revenue growth, particularly in HIFU, indicates increasing market adoption and demand for EDAP's medical technologies.

Risk Assessment

Risk Level: medium — While the results are positive, the company operates in the competitive medical device sector and faces regulatory and market adoption risks.

Key Numbers

• 24.8% — Q4 2023 Total Revenue Growth (Indicates significant year-over-year sales increase.)
• 38.8% — Q4 2023 HIFU Revenue Growth (Highlights strong performance in a key product segment.)
• EUR 19.6 million — Record Q4 2023 Total Revenue (Represents the highest quarterly revenue achieved by the company.)
• EUR 7.5 million — Record Q4 2023 HIFU Revenue (Represents the highest quarterly revenue for the HIFU segment.)

Key Players & Entities

• EDAP TMS SA (company) — Filer of the report and subject of the financial results
• EUR 19.6 million (dollar_amount) — Record Q4 2023 total revenue
• $21.3 million USD (dollar_amount) — Record Q4 2023 total revenue in USD
• EUR 7.5 million (dollar_amount) — Record Q4 2023 HIFU revenue
• $8.1 million USD (dollar_amount) — Record Q4 2023 HIFU revenue in USD
• March 27, 2024 (date) — Date of the report filing and announcement
• KEN MOBECK (person) — Chief Financial Officer who signed the report

FAQ

Key Financial Figures

• $21.3 million — 2023 total revenue of EUR 19.6 million ($21.3 million USD) increased 24.8% over Q4 2022 - R
• $8.1 million — 4 2023 HIFU revenue of EUR 7.5 million ($8.1 million USD), an increase of 38.8% over Q4 2022
• $65.4 million — 2023 total revenue of EUR 60.4 million ($65.4 million USD) increased 9.6% over full-year 2022
• $22.3 million — 2023 HIFU revenue of EUR 20.6 million ($22.3 million USD), an increase of 31.7% over full-ye

Filing Documents

• f6k_032724.htm (6-K) — 186KB
• logo.jpg (GRAPHIC) — 6KB
• 0001171843-24-001634.txt ( ) — 195KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 27, 2024 EDAP TMS S.A. /s/ KEN MOBECK KEN MOBECK CHIEF FINANCIAL OFFICER EDAP Reports Fourth Quarter and Full-Year 2023 Financial Results - Record Q4 2023 total revenue of EUR 19.6 million ($21.3 million USD) increased 24.8% over Q4 2022 - Record Q4 2023 HIFU revenue of EUR 7.5 million ($8.1 million USD), an increase of 38.8% over Q4 2022 - Record full-year 2023 total revenue of EUR 60.4 million ($65.4 million USD) increased 9.6% over full-year 2022 - Record full-year 2023 HIFU revenue of EUR 20.6 million ($22.3 million USD), an increase of 31.7% over full-year 2022 - Strong Q4 2023 U.S. Focal One® HIFU procedure growth of +136% year-over-year - Company to host conference call and webcast today, March 27th, at 8:30 a.m. EDT LYON, France, March 27, 2024 - EDAP TMS SA (Nasdaq: EDAP), the global leader in robotic energy-based therapies, reported today unaudited financial results for the fourth quarter and full-year 2023. “We are pleased to report strong revenue and system placements in the fourth quarter and full-year 2023, reflecting growing demand for Focal One and ExactVu,” said Ryan Rhodes, Chief Executive Officer of EDAP TMS. “Focal One’s best-in-class robotic HIFU platform, attractive reimbursement, and the continued investments we are making in our regional clinical teams are all helping to drive demand for our technology among both academic and community hospitals. The continued robust growth in U.S. Focal One HIFU procedures also speaks to the growing number of urologists who recognize the value of robotic HIFU in the management of prostate cancer. By providing a non-invasive, non-surgical, and radiation-free treatment approach with excellent oncologic outcomes, we are seeing growing patient awareness of the Focal

Forward-Looking Statements

Forward-Looking Statements In addition to historical information, this press release contains forward-looking statements within the meaning of applicable federal securities laws, including Section 27A of the U.S. Securities Act of 1933 (the “Securities Act”) or Section 21E of the U.S. Securities Exchange Act of 1934, which may be identified by words such as “believe,” “can,” “contemplate,” “could,” “plan,” “intend,” “is designed to,” “may,” “might,” “potential,” “objective,” “target,” “project,” “predict,” “forecast,” “ambition,” “guideline,” “should,” “will,” “estimate,” “expect” and “anticipate,” or the negative of these and similar expressions, which reflect our views about future events and financial performance. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, the clinical status and market acceptance of our HIFU devices and the continued market potential for our lithotripsy and distribution divisions, as well as risks associated with the current worldwide inflationary environment, the uncertain worldwide economic, political and financial environment, geopolitical instability, climate change and pandemics like the COVID 19 pandemic, or other public health crises, and their related impact on our business operations, including their impacts across our businesses or d

Forward-looking statements speak only as of the

Forward-looking statements speak only as of the date they are made. Other than required by law, we do not undertake any obligation to update them in light of new information or future developments. These forward-looking statements are based upon information, assumptions and estimates available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete. Company Contact Blandine Confort Investor Relations / Legal Affairs EDAP TMS SA +33 4 72 15 31 50 bconfort@edap-tms.com Investor Contact John Fraunces LifeSci Advisors, LLC (917) 355-2395 jfraunces@lifesciadvisors.com 5 EDAP TMS S.A. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of Euros and U.S. Dollars, except per share data) Three Months Ended: Three Months Ended: December 31, December 31, December 31, December 31, 2023 2022 2023 2022 Euros Euros $US $US Sales of medical equipment 15,021 11,493 16,292 11,840 Net Sales of RPP and Leases 1,611 1,441 1,747 1,484 Sales of spare parts, supplies and Services 2,981 2,784 3,233 2,868 TOTAL NET SALES 19,613 15,718 21,272 16,192 Other revenues — — — — TOTAL REVENUES 19,613 15,718 21,272 16,192 Cost of sales (11,051 ) (8,500 ) (11,986 ) (8,756 ) GROSS PROFIT 8,562 7,218 9,286 7,436 Research & development expenses (2,201 ) (1,304 ) (2,387 ) (1,344 ) S, G & A expenses (9,842 ) (7,484 ) (10,674 ) (7,709 ) Total operating expenses (12,042 ) (8,788 ) (13,061 ) (9,053 ) OPERATING PROFIT (LOSS) (3,481 ) (1,570 ) (3,775 ) (1,617 ) Interest (expense) income, net 220 297 239 306 Currency exchange gains (loss), net (1,450 ) (4,075 ) (1,573 ) (4,198 ) INCOME (LOSS) BEFORE TAXES AND MINORITY INTEREST (4,710 ) (5,348 ) (5,109 ) (5,509 ) Income tax (expense) credit (332 ) 217 (361 ) 224 N

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