EDAP TMS S.A. (NASDAQ:EDAP) Q2 2022 Earnings Conference Call August 25, 2022 8:30 AM ET
Company Participants
John Fraunces - LifeSci Advisors, IR
Marc Oczachowski - CEO & Chairman of the Board of Directors
Ryan Rhodes - CEO, EDAP US
Francois Dietsch - CFO
Conference Call Participants
Frank Takkinen - Lake Street Capital
Jason Bednar - Piper Sandler
Swayampakula Ramakanth - H.C. Wainwright
Operator
Greetings. Welcome to EDAP TMS Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
At this time, I'll turn the conference over to John Fraunces, Managing Director of LifeSci Advisors. John, you may now begin.
John Fraunces
Good morning, and thank you for joining us for EDAP TMS's second quarter 2022 financial and operating results conference call. On today's call, we will hear from Marc Oczachowski, Chief Executive Officer and Chairman of the Board; Ryan Rhodes, Chief Executive Officer of EDAP U.S.; and Francois Dietsch, Chief Financial 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 difference include but are not limited to those described in the company’s filings with the Securities and Exchange Commission.
I'd now like to turn the call over to EDAP’s Chairman and Chief Executive Officer, Marc Oczachowski. Marc?
Marc Oczachowski
Thank you, John, and good morning, everyone. As [indiscernible], I will start by providing a brief operational updates before turning the call over to Ryan Rhodes, our EDAP U.S. Chief Executive Officer for a review of the U.S. business and strategy. And then Francois Dietsch, our CFO, will present our financial performance.
Let me begin by recapping a few of the highlights. For the quarter, we generated total revenue of EUR14.2 million or $15 million, representing an increase of 36.7% over (ph) the second quarter of 2021. The increase was driven by contribution from all of our business segments, HIFU, lithotripsy and distribution. Notably, and for the first half of 2022, our HIFU revenue increased nearly 80% over the prior year period, reflecting a combination of the higher average selling price and growth in treatment volumes.