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EDAP TMS S.A. (EDAP)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
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6.38-0.11 (-1.69%)
At close: 4:00PM EDT
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Trade prices are not sourced from all markets
Previous close6.49
Open6.19
Bid0.00 x 900
Ask0.00 x 1200
Day's range6.03 - 6.55
52-week range2.00 - 10.68
Volume284,126
Avg. volume301,650
Market cap212.748M
Beta (5Y monthly)1.86
PE ratio (TTM)N/A
EPS (TTM)-0.07
Earnings date11 May 2021
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est13.18
  • Globe Newswire

    EDAP Reports First Quarter 2021 Results and Provides Operational Update

    Generated record first quarter revenue of EUR 10.3 million (USD 12.4 million), an increase of 35.4% year-over-yearIncreased gross margin year-over-year to 42.4%, contributing to a profitable quarterRaised gross proceeds of approximately $28 million through an underwritten offering of American Depository Shares (ADSs)Strong cash position of EUR 24.4 million (USD 28.6 million) as of March 31, 2021, excluding $28 million of gross proceeds raised in AprilCompany to host a conference call tomorrow, May 12, at 8:30 am ET LYON, France, May 11, 2021 -- EDAP TMS SA (Nasdaq: EDAP) (the “Company”), a global leader in robotic energy-based therapies, announced today unaudited financial results for the first quarter of 2021 and provided an update on strategic and operational developments. Marc Oczachowski, EDAP's Chairman and Chief Executive Officer, said: “We are thrilled to have completed a successful offering in April which, added to our existing strong cash position, provides funding to achieve potentially value-creating milestones across all aspects of our business. We are acutely focused on driving accelerating growth in the US by building market access and coverage now that our Category 1 CPT code is in place. We also continue to advance our Phase 2 endometriosis program and have now opened a second trial site in France where we commenced patient treatments last week. “While we continue to experience some effect of COVID-19 on our operations, we are pleased with the global performance of our business as compared to the first quarter of last year. We grew revenue by 35.4%, expanded our gross margin to 42.4%, and generated a profitable quarter for the company. We also saw continued growth in our Focal One and HIFU treatments in the US, reflecting increasing awareness and adoption of our next generation HIFU technology.” “In summary, with our strong balance sheet and US growth initiatives continuing to gain traction, I believe we are well positioned to drive growing adoption of HIFU for the management of prostate cancer in 2021,” Mr. Oczachowski concluded. First Quarter 2021 Results Total revenue for the first quarter 2021 was EUR 10.3 million (USD 12.4 million), an increase of 35.4% compared to total revenue of EUR 7.6 million (USD 8.4 million) for the same period in 2020. Total revenue in the HIFU business for the first quarter 2021 was EUR 1.8 million (USD 2.2 million), a decline of 6.2% as compared to EUR 1.9 million (USD 2.1 million) for the first quarter of 2020. Total revenue in the LITHO business for the first quarter 2021 was EUR 2.9 million (USD 3.5 million), roughly flat with EUR 2.9 million (USD 3.2 million) for the first quarter of 2020. Total revenue in the Distribution business for the first quarter 2021 was EUR 5.6 million (USD 6.7 million), a 102.5 % increase compared to EUR 2.8 million (USD 3.1 million) for the first quarter of 2020. Gross profit for the first quarter 2021 was EUR 4.4 million (USD 5.2 million), compared to EUR 3.1 million (USD 3.4 million) for the year-ago period. Gross profit margin on net sales was 42.4% in the first quarter of 2021, compared to 40.2% in the year-ago period. The increase in gross profit year-over-year was due to higher sales effect on fixed costs. Operating expenses were EUR 4.1 million (USD 5.0 million) for the first quarter of 2021, compared to EUR 4.5 million (USD 5.0 million) for the same period in 2020. Operating profit for the first quarter of 2021 was EUR 0.2 million (USD 0.3 million), compared to an operating loss of EUR 1.5 million (USD 1.6 million) in the first quarter of 2020. Net income for the first quarter of 2021 was EUR 0.8 million (USD 0.9 million), or EUR 0.03 per diluted share, as compared to a net loss of EUR 1.3 million (USD 1.4 million), or EUR (0.04) per diluted share in the year-ago period. As of March 31, 2021, the company held cash and cash equivalents of EUR 24.4 million (USD 28.6 million), as compared to EUR 24.7 million (USD 30.2 million) as of December 31, 2020. Subsequent to the end of the first quarter, the completed an underwritten public offering of its American Depository Shares that yielded gross proceeds of approximately $28 million. Conference Call An accompanying conference call and webcast will be conducted by management to review the results. The call will be held at 8:30am EDT tomorrow, May 12, 2021. Please refer to the information below for conference call dial-in information and webcast registration. Conference Call & WebcastWednesday, May 12, 2021 @ 8:30am Eastern TimeDomestic: 877-451-6152International: 201-389-0879Passcode: 13718852Webcast: http://public.viavid.com/index.php?id=144433 Following the live call, a replay will be available on the Company's website, www.edap-tms.com under "Investors Information." About EDAP TMS SA A recognized leader in the global therapeutic ultrasound market, EDAP TMS develops, manufactures, promotes and distributes worldwide minimally invasive medical devices for various pathologies using ultrasound technology. By combining the latest technologies in imaging and treatment modalities in its complete range of Robotic HIFU devices, EDAP TMS introduced the Focal One® in Europe and in the U.S. as an answer to all requirements for ideal prostate tissue ablation. With the addition of the ExactVu™ Micro-Ultrasound device, EDAP TMS is now the only company offering a complete solution from diagnostics to focal treatment of Prostate Cancer. EDAP TMS also produces and distributes other medical equipment including the Sonolith® i-move lithotripter and lasers for the treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL). For more information on the Company, please visit http://www.edap-tms.com, and us.hifu-prostate.com. Forward-Looking Statements In addition to historical information, this press release contains forward-looking statements. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, the clinical status and market acceptance of our HIFU devices and the continued market potential for our lithotripsy and distribution divisions, as well as the length and severity of the COVID-19 pandemic, including its impacts across our businesses on demand for our devices and services. Factors that may cause such a difference may also include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission and in particular, in the sections "Cautionary Statement on Forward-Looking Information" and "Risk Factors" in the Company's Annual Report on Form 20-F. Company ContactBlandine ConfortInvestor Relations / Legal AffairsEDAP TMS SA+33 4 72 15 31 50bconfort@edap-tms.com Investor ContactJeremy FefferLifeSci Advisors, LLC212-915-2568 jeremy@lifesciadvisors.com EDAP TMS S.A.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of Euros and U.S. Dollars, except per share data) Three Months Ended: Three Months Ended: Mar. 31,2021Euros Mar. 31,2020Euros Mar. 31,2021$US Mar. 31,2020$US Sales of medical equipment 6,691 4,125 8,023 4,551 Net Sales of RPP and Leases 1,212 1,255 1,453 1,385 Sales of spare parts, supplies and Services 2,396 2,228 2,873 2,458 TOTAL NET SALES 10,299 7,608 12,349 8,394 Other revenues 3 2 3 2 TOTAL REVENUES 10,302 7,610 12,353 8,395 Cost of sales (5,932) (4,548) (7,112) (5,018) GROSS PROFIT 4,371 3,062 5,241 3,378 Research & development expenses (851) (1,042) (1,020) (1,150) S, G & A expenses (3,281) (3,480) (3,934) (3,839) Total operating expenses (4,132) (4,522) (4,954) (4,989) OPERATING PROFIT (LOSS) 239 (1,460) 287 (1,611) Interest (expense) income, net 164 (20) 196 (22) Currency exchange gains (loss), net 489 289 587 319 INCOME (LOSS) BEFORE TAXES AND MINORITY INTEREST 892 (1,191) 1,070 (1,315) Income tax (expense) credit (119) (116) (143) (128) NET INCOME (LOSS) 773 (1,308) 927 (1,443) Earning per share – Basic 0.03 (0.04) 0.03 (0.05) Average number of shares used in computation of EPS 29,189,955 29,141,566 29,189,955 29,141,566 Earning per share – Diluted 0.03 (0.04) 0.03 (0.05) Average number of shares used in computation of EPS for positive net income 30,352,216 29,141,566 30,352,216 29,141,566 NOTE: Translated for convenience of the reader to U.S. dollars at the 2021 average three months’ noon buying rate of 1 Euro = 1.1990 USD, and 2020 average three months noon buying rate of 1 Euro = 1.1033 USD EDAP TMS S.A.UNAUDITED CONSOLIDATED BALANCE SHEETS HIGHLIGHTS (Amounts in thousands of Euros and U.S. Dollars) Mar. 31,2021Euros Dec. 31,2020Euros Mar. 31,2021$US Dec. 31,2020$US Cash, cash equivalents and short-term treasury investments 24,382 24,696 28,630 30,201 Account receivables, net 10,264 12,339 12,053 15,090 Inventory 8,348 7,989 9,802 9,771 Other current assets 564 369 662 451 TOTAL CURRENT ASSETS 43,557 45,393 51,147 55,513 Property, plant and equipment, net 5,570 5,599 6,540 6,847 Goodwill 2,412 2,412 2,832 2,949 Other non-current assets 1,761 1,790 2,068 2,189 TOTAL ASSETS 53,299 55,193 62,587 67,498 Accounts payable & other accrued liabilities 9,374 10,485 11,008 12,823 Deferred revenues, current portion 3,011 2,701 3,535 3,304 Short term borrowing 1,391 2,638 1,634 3,227 Other current liabilities 5,492 5,679 6,449 6,945 TOTAL CURRENT LIABILITIES 19,268 21,504 22,626 26,298 Obligations under operating and finance leases non-current 1,679 1,653 1,972 2,022 Long term debt, non-current 1,157 1,143 1,359 1,397 Deferred revenues, non-current 837 926 983 1,132 Other long term liabilities 3,502 3,720 4,112 4,549 TOTAL LIABILITIES 26,443 28,945 31,051 35,399 TOTAL SHAREHOLDERS’EQUITY 26,856 26,248 31,536 32,099 TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY 53,299 55,193 62,587 67,498 NOTE: Translated for convenience of the reader to U.S. dollars at the noon buying rate of 1 Euro = 1.1743 USD on March 31, 2021 and at the noon buying rate of 1 Euro = 1.2229 USD, on December 31, 2020 EDAP TMS S.A.UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of Euros) 3-months ended Mar. 31, 2021 Euros 12-months ended Dec. 31, 2020 Euros 3-months ended Mar. 31, 2021 $US 12-months endedDec. 31 2020$US NET INCOME (LOSS) 773 (1,704) 927 (1,955) Adjustments to reconcile net income (loss) to net cash generated by (used in) operating activities(1) 167 3,790 201 4,349 OPERATING CASH FLOW 940 2,087 1,128 2,394 Increase/Decrease in operating assets and liabilities 539 (110) 646 (126) NET CASH GENERATED BY (USED IN) OPERATING ACTIVITIES 1,479 1,977 1,774 2,269 Short term investments(2) - - - - Additions to capitalized assets produced by the company and other capital expenditures (294) (2,011) (353) (2,307) NET CASH GENERATED BY (USED IN) INVESTING ACTIVITIES (294) (2,011) (353) (2,307) NET CASH GENERATED BY (USED IN) FINANCING ACTIVITIES (1,230) 3,201 (1,475) 3,673 NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (269) 642 (1,517) 3,118 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (314) 3,810 (1,571) 6,752 (1) including Share based compensation expenses for 28 thousands of Euros at the end of March 2021, and 160 thousands of Euros at the end of December 2020 (2) Short term investments are comprised of money market funds NOTE: Translated for convenience of the reader to U.S. dollars at the 2021 average three months’ noon buying rate of 1 Euro = 1.1990 USD and at the 2020 average twelve months’ noon buying rate of 1 Euro = 1.1474 USD EDAP TMS S.A.UNAUDITED CONDENSED STATEMENTS OF OPERATIONS BY DIVISIONTHREE MONTHS ENDED MARCH 31, 2021(Amounts in thousands of Euros) HIFU Division ESWL Division DistributionDivision ReconcilingItems Total After Consolidation Sales of goods 487 1,212 4,992 6,691 Sales of RPPs & Leases 888 262 62 1,212 Sales of spare parts & services 427 1,420 549 2,396 TOTAL NET SALES 1,802 2,895 5,603 10,299 Other revenues 3 0 0 3 TOTAL REVENUES 1,805 2,895 5,603 10,302 GROSS PROFIT(% of Total Revenues) 690 38.2 % 1,422 49.1% 2,259 40.3% 4,371 42.4% Research & Development (582) (196) (73) (851) Total SG&A plus depreciation (918) (657) (1,344) (362) (3,281) OPERATING PROFIT (LOSS) (810) 570 841 (362) 239 Attachment 2021-05-11 -- EDAP Q1 2021 press release FINAL

  • Globe Newswire

    EDAP TMS SA to Announce First Quarter 2021 Financial Results on May 11, 2021

    Company to host conference call and webcast on Wednesday, May 12 at 8:30 am EDT LYON, France, May 4, 2021 - EDAP TMS SA (Nasdaq: EDAP), a global leader in robotic energy-based therapies, today announced that it will release its financial results for the first quarter ended March 31, 2021 after the markets close on Tuesday, May 11, 2021. An accompanying conference call and webcast will be conducted by Marc Oczachowski, Chairman of the Board and Chief Executive Officer, and François Dietsch, Chief Financial Officer. The call will be held at 8:30am EDT on Wednesday, May 12, 2021. Please refer to the information below for conference call dial-in information and webcast registration. Conference Call & WebcastWednesday, May 12th @ 8:30am Eastern TimeDomestic: 877-451-6152International: 201-389-0879 Passcode: 13718852Webcast: http://public.viavid.com/index.php?id=144433 About EDAP TMS SAA recognized leader in the global therapeutic ultrasound market, EDAP TMS develops, manufactures, promotes and distributes worldwide minimally invasive medical devices for various pathologies using ultrasound technology. By combining the latest technologies in imaging and treatment modalities in its complete range of Robotic HIFU devices, EDAP TMS introduced the Focal One® in Europe and in the U.S. as an answer to all requirements for ideal prostate tissue ablation. With the addition of the ExactVu™ Micro-Ultrasound device, EDAP TMS is now the only company offering a complete solution from diagnostics to focal treatment of Prostate Cancer. EDAP TMS also produces and distributes other medical equipment including the Sonolith® i-move lithotripter and lasers for the treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL). For more information on the Company, please visit http://www.edap-tms.com, and us.hifu-prostate.com. Company ContactBlandine ConfortInvestor Relations / Legal AffairsEDAP TMS SA+33 4 72 15 31 50bconfort@edap-tms.com Investor ContactJeremy FefferLifeSci Advisors, LLC212-915-2568 jeremy@lifesciadvisors.com

  • Globe Newswire

    EDAP Announces Pricing of Follow-On Offering

    LYON, France, April 23, 2021 -- EDAP TMS S.A. (NASDAQ: EDAP) (the “Company”), a global leader in robotic energy-based therapies, announced that the price of its offering of American Depositary Shares (“ADS”) has been set at $6.75 per ADS and that the number of offered ADSs is 4,150,000 for an amount of approximately $28 million. The closing of the offering is expected to occur on April 27, 2021, subject to customary closing conditions. Piper Sandler is acting as the sole book-running manager for the offering. B. Riley Securities and Lake Street Capital Markets are acting as co-managers for the offering. A shelf registration statement on Form F-3 (including a prospectus) relating to the Company’s American Depositary Shares was filed with the Securities and Exchange Commission (the “SEC”) and has become effective. The Company will also file a prospectus supplement with respect to the proposed offering. Before purchasing ADSs in the offering, you should read the prospectus supplement and the accompanying prospectus, together with the documents incorporated by reference therein. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the preliminary prospectus supplement (and accompanying prospectus) relating to the offering may be obtained from Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at prospectus@psc.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. In particular, no public offering of the ADSs will be made in Europe. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected closing of the Company’s follow-on offering. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, satisfaction of the closing conditions of the offering. In addition, risks relating to the offering, which are described in the preliminary prospectus supplement and those risks relating to the Company’s business, which are described in the Company's filings with the Securities and Exchange Commission and in particular, in the sections "Cautionary Statement on Forward-Looking Information" and "Risk Factors" in the Company's Annual Report on Form 20-F. Company ContactBlandine ConfortInvestor Relations / Legal AffairsEDAP TMS SA+33 4 72 15 31 50bconfort@edap-tms.com Investor ContactJeremy FefferLifeSci Advisors, LLC212-915-2568jeremy@lifesciadvisors.com