EDAP TMS S.A. (NASDAQ:EDAP) Q4 2023 Earnings Conference Call March 27, 2024 8:30 AM ET

Company Participants

Ryan Rhodes - Chief Executive Officer
Ken Mobeck - Chief Financial Officer
John Fraunces - LifeSci Advisors

Conference Call Participants

Michael Sarcone - Jefferies
Frank Takkinen - Lake Street Capital
Swayampakula Ramakanth - HC Wainwright

Operator

Greetings and welcome to the EDAP TMS fourth quarter 2023 earnings call.

At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require Operator assistance during the conference, please press star, zero on your telephone keypad. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. John Fraunces of LifeSci Advisors. Thank you, you may begin.

John Fraunces

Good morning. Thank you for joining us for the EDAP TMS fourth quarter and full year 2023 financial and operating results conference call. Joining me on today’s call are Ryan Rhodes, Chief Executive Officer, Ken Mobeck, Chief Financial Officer, and François Dietsch, Chief Accounting Officer.

Before we begin, I’d 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. We are pleased to report strong operating results for the fourth quarter, capping a highly successful year in which we established Focal One robotic HIFU as one of the fastest growing treatment options in the management of prostate cancer. EDAP reported record fourth quarter 2023 total revenue in U.S. dollars of $21.3 million, an increase of 31.4% over the fourth quarter of 2022.

Many of the potential deals that had reached an advanced stage of discussion in the third quarter eventually closed in the fourth quarter, which reflects the seasonality of the capital equipment purchasing cycle. More importantly, we believe that the final decision in selecting Focal One was based on a growing recognition amongst hospitals that the Focal One robotic technology platform represents a strategic capital investment to help maintain and attract prostate cancer patients to their facilities.