Earnings release
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EDAP Reports Third Quarter 2025 Financial Results Nov 06, 2025 EDAP Reports Third Quarter 2025 Financial Results 49% YoY HIFU Revenue Growth, Driven by Increased Focal One ® Sales and U.S. Procedure Volumes 167% YoY Growth in Focal One System Placements 15% YoY Growth in U.S. Focal One HIFU Procedures Company to Host Conference Call and Webcast on November 6 at 8:30 a.m. ET AUSTIN, Texas, November 6, 2025 - EDAP TMS SA (Nasdaq: EDAP), the global leader in robotic energy-based therapies, reported today unaudited consolidated financial results for the third quarter of 2025. “Our record-breaking third-quarter revenue performance reflects the continued strong demand for our leading Focal One Robotic HIFU platform, with system placements increasing 167% year over year. Even in a seasonally softer period, we achieved our second consecutive quarter of record HIFU revenue for the respective period, underscoring the consistent and positive growth of our business. It is becoming increasingly clear that more urologists want to offer their patients both an effective and non-invasive treatment option for early-stage prostate cancer. These factors are driving demand as seen over the last two quarters, which reflects this important growing paradigm shift in prostate cancer management. During the quarter we also saw a return to double-digit Focal One procedure growth in the U.S. as we continue to see broader hospital adoption, increased patient demand and expanded insurance provider coverage.” said Ryan Rhodes, Chief Executive Officer of EDAP. “We have also made notable progress strengthening our balance sheet. As announced last month, we finalized an agreement with the European Investment Bank for a €36 million credit facility to be made available in three tranches, with €11 million from the first tranche deposited earlier this week. Looking ahead, our Focal One pipeline continues to expand, reflecting both growing demand and continued execution by our commercial and clinical teams.” Business Update On October 20, 2025, the Company announced the closing of a €36 million credit facility with the European Investment Bank (EIB). Proceeds from this financing will support the continued expansion of the Company’s Focal One® Robotic HIFU platform in Focal Therapy, the fastest-growing treatment category for early-stage prostate cancer and accelerate the development of new clinical indications. On September 30, 2025, the Company highlighted its Focal One Prostate Cancer Awareness Month campaign, featuring national television coverage on Friday, September 26, which reached millions of viewers nationwide. The segment, which included an interview with a patient treated with Focal One, aired during Health Uncensored with Dr. Drew on the Lifetime Network, providing unprecedented exposure and allowing audiences across the United States to learn about Focal One. In addition, the Company conducted multiple patient-education events and partnered with hospitals and practices nationwide to raise awareness through a range of local outreach activities. On September 16, 2025, the Company announced that it was honored with the 2025 Industry Award for Innovations in Endourological Instrumentation by the Endourological Society, recognizing its groundbreaking work with the Focal One High-Intensity Focused Ultrasound (HIFU) platform. Focal One is the first Focal Therapy technology to receive this distinguished award. Presented annually to an individual or organization that has made outstanding contributions to the field of urology, the award was conferred during the 42nd World Congress of Endourology and Uro-Technology (WCET). Upcoming Meetings and Events UBS Global Healthcare Conference – November 10–13, 2025, in Palm Beach Gardens, Florida. EDAP management will participate in one-on-one meetings with investors. Jefferies London Healthcare Conference – November 18–20, 2025, in London, U.K. EDAP management will present on Tuesday, November 18, from 4:30–4:55 p.m. GMT. Piper Sandler 37th Annual Healthcare Conference – December 2–4, 2025, in New York, New York. EDAP management will present on Tuesday, December 2, at 10:30–10:55 a.m. ET. 2025 Financial Guidance The Company is reiterating its 2025 financial guidance. Core HIFU business revenue is expected to grow within the range of 26%
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to 34% year over year, and combined non-core ESWL and Distribution business revenue is expected to decline within the range of 25% to 30% year over year. Third Quarter 2025 Results High-Intensity Focused Ultrasound (HIFU) Business Total revenue in the HIFU business for the third quarter of 2025 was €6.7 million (US $7.7 million), compared to €4.5 million (US $4.9 million) for the same period in 2024, representing an increase of 49% year over year. The Company sold six Focal One systems during the quarter, versus three system sales in the same period in 2024. Worldwide disposables revenue grew 9% year over year, driven primarily by 15% growth in Focal One procedures in the U.S. Non-Core Businesses (ESWL and Distribution) Total revenue from the Company’s non-core businesses for the third quarter of 2025 was €7.2 million (US $8.4 million), compared to €8.6 million (US $9.8 million) for the same period in 2024. The expected decline reflects the Company’s strategic decision to focus on the high-growth opportunity in Focal Therapy through its Focal One Robotic HIFU platform. Company Total worldwide revenue for the third quarter of 2025 was €13.9 million (US $16.1 million), an increase of 6% compared to €13.1 million (US $14.4 million) for the same period in 2024. Gross profit for the third quarter of 2025 was €6.0 million (US $6.9 million), compared to €5.2 million (US $5.7 million) for the same period in 2024. Gross profit margin on net sales was 43%, up from 39% for the same period in 2024. The margin improvement was primarily due to a favorable product-mix shift and better absorption of fixed costs, largely attributable to the growth of HIFU revenue. Operating expenses for the third quarter of 2025 were stable at €10.9 million (US $12.7 million), compared to €11.0 million (US $12.1 million) for the same period in 2024. Operating loss for the third quarter of 2025 was €4.9 million (US $5.7 million), compared to €5.8 million (US $6.4 million) for the same period in 2024. Net loss for the third quarter of 2025 was €5.0 million (US $5.8 million), or (€0.13) per share, compared to €6.4 million (US $7.0 million), or (€0.17) per share, for the same period in 2024 Year-to-Date Results High-Intensity Focused Ultrasound (HIFU) Business Total revenue in the HIFU business for the nine months ended September 30, 2025, was €21.3 million (US $23.9 million), an increase of 42% compared to €15.1 million (US $16.3 million) for the same period in 2024. Non-Core Businesses (ESWL and Distribution) Total revenue from the Company’s non-core businesses for the nine months ended September 30, 2025, was €22.2 million (US $24.9 million), a 23% decrease compared to €28.7 million (US $31.2 million) for the same period in 2024. Company Total worldwide revenue for the nine months ended September 30, 2025, was €43.5 million (US $48.8 million), a decrease of 0.7% compared to €43.8 million (US $47.6 million) for the same period in 2024. Gross profit for the nine months ended September 30, 2025, was €18.5 million (US $20.7 million), compared to €17.5 million (US $19.0 million) for the same period in 2024. Gross profit margin on net sales improved to 42.5% for the nine-month period ended September 30, 2025, up from 39.9% for the same period in 2024. Operating expenses for the nine months ended September 30, 2025, totaled €35.2 million (US $39.4 million), compared to €34.3 million (US $37.2 million) for the same period in 2024. Operating loss for the nine months ended September 30, 2025, was €16.7 million (US $18.7 million), compared to €16.8 million (US $18.2 million) for the same period in 2024. Net loss for the nine months ended September 30, 2025, was €17.7 million (US $19.8 million), or (€0.47) per share, compared to €17.1 million (US $18.5 million), or (€0.46) per share, for the same period in 2024. As of September 30, 2025, the Company held cash and cash equivalents of €10.6 million (US $12.4 million), compared to €16.3 million (US $19.1 million) as of June 30, 2025.
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Conference Call Information A conference call and webcast to discuss the third quarter 2025 financial results will be hosted by Ryan Rhodes, Chief Executive Officer, Ken Mobeck, Chief Financial Officer, and François Dietsch, Chief Accounting Officer. Please refer to the information below for conference call dial-in information and webcast registration. Date: Thursday, November 6 th @ 8:30am Eastern Time Domestic: 1-800-274-8461 International: 1-203-518-9814 Passcode (Conf ID): EDAP Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1738018&tp_key=c91765d4a0 About EDAP TMS SA A recognized leader in robotic energy-based therapies, EDAP TMS develops, manufactures, promotes and distributes worldwide minimally invasive medical devices for various conditions using ultrasound technology. By combining the latest technologies in imaging, robotics and precise non-invasive energy delivery, EDAP introduced the Focal One ® in Europe and in the U.S. as the leading prostate focal therapy controlled by urologists with the potential to expand to multiple indications beyond prostate cancer. For more information on the Company, please visit https://focalone.com/ Forward-Looking Statements In addition to historical information, this press release contains forward-looking statements within the meaning of applicable federal securities laws, including Section 27A of the U.S. Securities Act of 1933 (the “Securities Act”) or Section 21E of the U.S. Securities Exchange Act of 1934, which may be identified by words such as “believe,” “can,” “contemplate,” “could,” “plan,” “intend,” “is designed to,” “may,” “might,” “potential,” “objective,” “target,” “project,” “predict,” “forecast,” “ambition,” “guideline,” “should,” “will,” “estimate,” “expect” and “anticipate,” or the negative of these and similar expressions, which reflect our views about future events and financial performance. 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 risks associated with the current worldwide inflationary environment, the uncertain worldwide economic, political and financial environment, geopolitical instability, climate change and pandemics like the COVID 19 pandemic, or other public health crises, and their related impact on our business operations, including their impacts across our businesses or demand for our devices and services. Other 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. Forward-looking statements speak only as of the date they are made. Other than required by law, we do not undertake any obligation to update them in light of new information or future developments. These forward-looking statements are based upon information, assumptions and estimates available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete. Investor Contacts Investor Relations EDAP TMS SA investor.relations@focalone.com John Fraunces LifeSci Advisors, LLC (917) 355-2395 jfraunces@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: September 30, September 30, September 30, September 30,
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2025 2024 2025 2024 Euros Euros $US $US Sales of medical equipment 9,430 8,393 10,958 9,240 Net sales of RPP and leases 2,194 1,586 2,550 1,746 Sales of spare parts, supplies and services 2,255 3,120 2,621 3,435 TOTAL REVENUES 13,879 13,098 16,128 14,420 Cost of sales (7,908) (7,944) (9,189) (8,746) GROSS PROFIT 5,972 5,154 6,939 5,675 Research & development expenses (2,086) (1,716) (2,424) (1,889) Selling, general & administrative expenses (8,811) (9,271) (10,239) (10,207) Total operating expenses (10,898) (10,987) (12,663) (12,096) OPERATING LOSS (4,926) (5,833) (5,724) (6,422) Interest (expense) income, net (49) 102 (57) 113 Currency exchange gains (loss), net 64 (606) 75 (667) LOSS BEFORE INCOME TAXES (4,911) (6,337) (5,707) (6,976) Income tax (expense) credit, net (103) (62) (120) (69) NET LOSS (5,014) (6,399) (5,827) (7,045) Earning per share – basic and diluted (0.13) (0.17) (0.16) (0.19) Average number of shares used in computation of basic and diluted EPS 37,438,630 37,233,406 37,438,630 37,233,406 NOTE: Translated for convenience of the reader to U.S. dollars at the 2025 average three months’exchange rate of 1 Euro = 1.1620 USD, and 2024 average three months’exchange rate of 1 Euro = 1.1010 USD EDAP TMS S.A. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of Euros and U.S. Dollars, except per share data) Nine Months Ended: Nine Months Ended: September 30, September 30, September 30, September 30, 2025 2024 2025 2024 Euros Euros $US $US Sales of medical equipment 29,614 29,478 33,207 32,006 Net sales of RPP and leases 6,600 5,247 7,401 5,697 Sales of spare parts, supplies and services 7,267 9,072 8,148 9,850 TOTAL REVENUES 43,480 43,797 48,755 47,553 Cost of sales (24,992) (26,338) (28,024) (28,597) GROSS PROFIT 18,488 17,458 20,732 18,956 Research & development expenses (6,749) (5,862) (7,568) (6,364) Selling, general & administrative expenses (28,430) (28,393) (31,879) (30,828) Total operating expenses (35,179) (34,254) (39,448) (37,192) OPERATING LOSS (16,691) (16,796) (18,716) (18,236) Interest (expense) income, net (92) 438 (104) 475 Currency exchange gains (loss), net (572) (419) (642) (455) LOSS BEFORE INCOME TAXES (17,355) (16,777) (19,461) (18,216) Income tax (expense) credit, net (333) (300) (374) (326) NET LOSS (17,689) (17,077) (19,835) (18,542) Earning per share – basic and diluted (0.47) (0.46) (0.53) (0.50) Average number of shares used in computation of basic and diluted EPS 37,417,439 37,149,121 37,417,439 37,149,121 NOTE: Translated for convenience of the reader to U.S. dollars at the 2025 average nine months’ exchange rate of 1 Euro =
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1.1213 USD, and 2024 average nine months’ exchange rate of 1 Euro = 1.0858 USD EDAP TMS S.A. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Euros and U.S. Dollars) September 30, December 31, September 30, December 31, 2025 2024 2025 2024 Euros Euros $US $US Cash, cash equivalents and short-term investments 10,567 29,836 12,400 30,883 Accounts receivable, net 19,025 20,288 22,325 21,000 Inventory 13,799 18,495 16,193 19,143 Other current assets 960 1,258 1,127 1,302 TOTAL CURRENT ASSETS 44,352 69,876 52,044 72,328 Property, plant and equipment, net 10,016 10,336 11,753 10,699 Goodwill 2,412 2,412 2,830 2,496 Other non-current assets 4,685 3,439 5,498 3,560 TOTAL ASSETS 61,464 86,063 72,124 89,083 Accounts payable & other accrued liabilities 16,844 21,350 19,765 22,099 Deferred revenues, current portion 6,372 6,641 7,477 6,874 Short term borrowing 5,048 6,243 5,924 6,462 Other current liabilities 3,140 3,577 3,685 3,702 TOTAL CURRENT LIABILITIES 31,404 37,811 36,851 39,138 Obligations under operating and finance leases non-current 1,495 1,939 1,754 2,007 Long-term debt, non-current 1,009 2,162 1,183 2,238 Deferred revenues, non-current 1,202 358 1,411 370 Other long-term liabilities 3,034 2,897 3,560 2,999 TOTAL LIABILITIES 38,144 45,167 44,759 46,752 TOTAL SHAREHOLDERS’EQUITY 23,321 40,896 27,365 42,331 TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY 61,464 86,063 72,124 89,083 NOTE: Translated for convenience of the reader to U.S. dollars at the exchange rate of 1 Euro = 1.1734 USD, on September 30, 2025 and at the exchange rate of 1 Euro = 1.0351 USD, on December 31, 2024. EDAP TMS S.A. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of Euros and U.S. Dollars) Nine Months Ended Twelve Months Ended Nine Months Ended Twelve Months Ended September 30, December 31, September 30, December 31, 2025 2024 2025 2024 (Euros) (Euros) ($US) ($US) NET INCOME (LOSS) (17,689) (19,018) (19,835) (20,520) Adjustments to reconcile net income (loss) to net cash generated by (used in) operating activities(1) 4,591 7,395 5,148 7,979 OPERATING CASH FLOW (13,098) (11,623) (14,687) (12,541)
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Increase/Decrease in operating assets and liabilities 625 (1,961) 701 (2,116) NET CASH GENERATED BY (USED IN) OPERATING ACTIVITIES (12,473) (13,584) (13,986) (14,657) Additions to capitalized assets produced by the company and other capital expenditures (3,577) (4,120) (4,011) (4,445) NET CASH GENERATED BY (USED IN) INVESTING ACTIVITIES (3,577) (4,120) (4,011) (4,445) NET CASH GENERATED BY (USED IN) FINANCING ACTIVITIES (2,545) 4,635 (2,854) 5,001 NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (673) (566) 2,369 (3,103) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (19,268) (13,635) (18,483) (17,204) (1) including share based compensation expenses for 1,560 thousand of Euros for the nine months ended September 30, 2025 and 3,283 thousand of Euros for the full year ended December 31, 2024. NOTE: Translated for convenience of the reader to U.S. dollars at the 2025 average nine months’ exchange rate of 1 Euro = 1.1213 USD, and 2024 average twelve months exchange rate of 1 Euro = 1.0790 USD EDAP TMS S.A. UNAUDITED CONDENSED STATEMENTS OF OPERATIONS BY DIVISION nine months ended September 30, 2025 (Amounts in thousands of Euros) HIFU ESWL Distribution Reconciling Total After Division Division Division Items Consolidation Sales of medical equipment 13,479 1,299 14,835 — 29,614 Net sales of RPP and leases 5,645 749 206 — 6,600 Sales of spare parts, supplies and services 2,182 3,058 2,027 — 7,267 TOTAL REVENUES 21,306 5,106 17,068 — 43,480 GROSS PROFIT (% of Net Sales) 10,428 48.9 % 2,253 44.1 % 5,807 34.0 % — 18,488 42.5 % Research & development expenses (6,213) (118) (419) — (6,749) Selling, general & administrative expenses (18,979) (777) (5,889) (2,786) (28,430) OPERATING PROFIT (LOSS) (14,763) 1,358 (500) (2,786) (16,691) Attachment EDAP Q3 2025 Financial Results PR- FINAL