EDAP TMS S.A. (NASDAQ:EDAP) Q2 2024 Results Conference Call August 28, 2024 8:30 AM ET

Company Participants

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

Conference Call Participants

Michael Sarcone - Jefferies
Joseph Downing - Piper Sandler
RK Ramakanth - H.C. Wainwright

Operator

Good day, and welcome to the EDAP TMS Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [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.

John Fraunces

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 difference include, but are not limited to, those described in the company's filings with the Securities and Exchange Commission.

Now, 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.

In the second quarter, we reported total worldwide revenue in U.S. dollars of $15.8 million, up 10.6% on a year-over-year basis. U.S. Focal One HIFU procedure growth remained strong in the second quarter with the number of procedures growing by 63% on a year-over-year basis.

We placed five Focal One systems during the second quarter, which included placements with the City of Hope, National Medical Center in Los Angeles, Robert Wood Johnson University Hospital in New Jersey, the VA Bronx Healthcare System in New York, El Camino Hospital in Silicon Valley, and the Morton Plant Hospital in Florida.

City of Hope is a world-renowned pioneer in both cancer research and treatment. It is also a National Cancer Institute-designated Comprehensive Cancer Center and a National Cancer Center Network member institution. Placing Focal One at such a well-regarded medical institution speaks not only to the quality of the Focal One technology platform, but also reflects a growing trend, among top cancer centers in adopting robotic HIFU, as a treatment option for localized prostate cancer.