Q2 2024 Edap Tms SA Earnings Call Transcript
Key Points
- Total worldwide revenue increased by 10.6% year-over-year, reaching $15.8 million.
- US Focal One HIFU procedure growth was strong, with a 63% increase in the number of procedures year-over-year.
- Successful placements of Focal One systems in notable institutions such as City of Hope and Robert Wood Johnson University Hospital.
- Positive interim results from the Phase III study on robotic HIFU technology for treating deep infiltrating endometriosis.
- Strong pipeline and growing demand for Focal One systems, with expectations for a stronger second half of 2024.
- Gross profit margin decreased to 37.5% from 39.6% year-over-year due to a shift in product mix and increased acquisition costs.
- Operating expenses increased to EUR12.1 million from EUR9.9 million year-over-year, impacting profitability.
- Net loss for the second quarter was EUR6.1 million, higher than the EUR4.7 million loss in the same period last year.
- Cash and cash equivalents decreased significantly from EUR43.5 million at the end of 2023 to EUR30.2 million.
- Challenges in the capital expense environment, with longer cycle times for hospital approvals due to macroeconomic factors.
Good day, and welcome to the Edap Tms second quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference over to, John Fraunces of LifeSci Advisors. Please go ahead.
Good morning. Thank you for joining us for the Edap Tms second quarter 2024 financial and operating results conference call. Joining me on today's call are Ryan Rhodes, Chief Executive Officer; Ken Mobeck, Chief Financial Officer; and Francois Dietsch, Chief Accounting Officer.
Before we begin, I would like to remind everyone that, management's remarks today may contain forward-looking statements, which include statements regarding the company's growth and expansion plans.
Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in such forward-looking statements. Factors that may cause such a
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