Therapeutic Ultrasound Player EDAP Shares Jump On Street Beating Q2 Earnings - Edap TMS (NASDAQ:EDAP)

EDAP TMS SA EDAP announced Q2 sales of €14.2 million ($15 million), +36.7% Y/Y, beating the consensus of $13.46 million.
Revenue in the High-intensity focused ultrasound (HIFU) business reached €3 million ($3.2 million), an increase of 49.3% Y/Y.
Sales from the LITHO business increased 55.7% to €3.6 million ($3.8 million).
Distribution business sales increased 25% to €7.6 million ($8.1 million).
Marc Oczachowski, EDAP's Chairman and CEO, said: "For the second quarter of 2022, we generated strong year-over-year revenue growth of nearly 37% driven by contribution from all three business segments, including our core HIFU business, which grew nearly 50% over the prior year period. The measured investments that we continue to make in our US team and infrastructure continue to bear fruit as HIFU, and specifically Focal One, becomes integral to the modern prostate cancer treatment paradigm."
The company also announced Focal One HIFU reimbursement raised to urology APC Level 6 under CMS Outpatient Prospective Payment System (OPPS) proposed rule for CY23.
The gross profit reached €6.2 million compared to €4.2 million a year ago. The gross profit margin was 43.8%, better than 40.7% a year ago, driven by the higher sales effect on fixed costs.
The company reported a net income of €1.8 million ($1.9 million), or €0.05 per diluted share ($0.06), compared to a net loss of €(0.4) million ($0.5 million), or €0.01 per diluted share in the year-ago period.
The analysts expected an EPS loss of $(0.03).
Price Action: EDAP shares closed 7.19% higher at $7.90 during after-hours trading on Wednesday.

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