EDAP TMS S.A. (NASDAQ:EDAP) Q1 2022 Earnings Conference Call May 18, 2022 8:30 AM ET
Company Participants
John Fraunces - LifeSci Advisors, Investor Relations
Marc Oczachowski - Chief Executive Officer and Chairman of the Board of Directors
Ryan Rhodes - Chief Executive Officer, EDAP US
Francois Dietsch - Chief Financial Officer
Conference Call Participants
Frank Takkinen - Lake Street Capital
Operator
Greetings. And welcome to the EDAP TMS First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now pleasure to introduce your host, John Fraunces, from LifeSci Advisors. Thank you, you may begin.
John Fraunces
Good morning and thank you for joining us for the EDAP TMS's first 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 US; 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. I’ll start by providing a brief and personal updates before turning the call over to Ryan Rhodes, our EDAP US Chief Executive Officer for a review of the US business strategy, and then Francois Dietsch, our CFO will present a financial performance. I will start by recapping a few of the highlights. For the quarter, we generated total revenue of EUR 13 million or $14.5 million, representing an increase of 26% as compared to EUR 10.3 million or $12.4 million in the first quarter of 2021. The increase was driven by a very strong capital quarter, particularly in the US. We sold four Focal One Robotic HIFU units during Q1 of 2022 as compared to zero in the year ago period. Three of those sales occurred in the US and one was o-US. We also sold nine ExactVu units as compared to five in the year ago period. By any measure, the first quarter was a very strong start to the year due to the investments we've made in our US team and infrastructure last year.