EDAP TMS S.A. (NASDAQ:EDAP) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET

Company Participants

John Fraunces - LifeSci Advisors

Ryan Rhodes - CEO

Ken Mobeck - CFO, US Subsidiary

Conference Call Participants

Michael Sarcone - Jefferies

Sean Lee - H.C. Wainwright & Co.

Frank Takkinen - Lake Street Capital Markets

Operator

Greetings and welcome to the Edap Tms third quarter 2023 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 my pleasure to introduce your host, John Fraunces. I think, John, you may begin.

John Fraunces

Good morning, and thank you for joining us for the Edap Tms third quarter 2023 financial and operating results conference call. Joining me on today's call are Ryan Rhodes, Chief Executive Officer, François Dietsch, Chief Financial Officer, and Ken Mobeck, Chief Financial Officer of the US Subsidiary.

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 would now like to turn the call over to Edap's Chief Executive Officer, Ryan Rhodes. Ryan?

Ryan Rhodes

Thank you, John, and good morning, everyone. I will start today's call by providing highlights from the third quarter of 2023, and then turn the call over to Ken Mobeck, our US CFO, who will then present the corresponding details of financial performance.

I'm pleased to report through the last fiscal quarter, we've continue to see strong growth in U.S. Focal One HIFU procedures. We attribute this growth to HIFU becoming an important modality in the treatment of prostate cancer, with Focal One being selected as a platform of choice amongst urologists.

It is also clear that the strategic investments we continue to make in our commercial and clinical teams are further helping to drive increased utilization. In Q3, we recorded a 150% year-over-year increase in U.S. procedure volumes as well as our fourth consecutive quarter of double-digit percentage procedure growth. The growing number of procedures across our install base provides the most compelling market-based evidence that Focal One is fast becoming an essential part of prostate cancer management.