EDAP TMS(US:EDAP)2022-11-15 16:00Revenue Performance - Total revenue for Q3 2022 was approximately EUR 12.2 million (USD 12.3 million), a 29.7% increase compared to EUR 9.4 million (USD 11.1 million) in Q3 2021[7] - Year-to-date revenue for the nine months ended September 30, 2022, was EUR 39.4 million (USD 41.7 million), a 30.9% increase from EUR 30.1 million (USD 35.9 million) in the same period of 2021[9] - Total net sales for the nine months ended September 30, 2022, increased to €39,391 thousand, up 30.5% from €30,088 thousand in the same period of 2021[24] Profitability - Gross profit margin for the nine months ended September 30, 2022, was 43.1%, up from 40.6% in the comparable period in 2021[11] - Gross profit for the nine months ended September 30, 2022, was €16,975 thousand, representing a gross margin of 43.1%, compared to €12,211 thousand and 40.6% in the prior year[24] - Net income for the nine months ended September 30, 2022, was EUR 2.2 million (USD 2.3 million), or EUR 0.07 per diluted share, compared to a net loss of EUR 0.7 million (USD 0.8 million) in the prior year[13] - Net income for the nine months ended September 30, 2022, was €2,197 thousand, compared to a net loss of €665 thousand in the same period of 2021[24] Operating Performance - Operating loss for the nine months ended September 30, 2022, was EUR 2.7 million (USD 2.8 million), compared to an operating loss of EUR 2.1 million (USD 2.5 million) in the same period of 2021[13] - Operating loss for the nine months ended September 30, 2022, was €2,687 thousand, compared to a loss of €2,073 thousand in the same period of 2021[24] - Operating cash flow for the nine months ended September 30, 2022, was €5,128 thousand, compared to €3,925 thousand in the same period of 2021[28] - The company reported a net cash generated by operating activities of €3,623 thousand for the nine months ended September 30, 2022[28] Cash Position - As of September 30, 2022, the company had a strong cash position of EUR 68.3 million (USD 66.8 million), up from EUR 47.2 million (USD 53.4 million) at the end of 2021[14] - Cash and cash equivalents increased to €68,329 thousand as of September 30, 2022, from €47,183 thousand at December 31, 2021[26] Assets and Liabilities - Total assets as of September 30, 2022, were €104,801 thousand, up from €77,226 thousand at December 31, 2021[26] - Total liabilities increased to €30,560 thousand as of September 30, 2022, compared to €27,172 thousand at December 31, 2021[26] Sales and Market Adoption - HIFU sales reached EUR 3.5 million (USD 3.5 million), representing an 81% growth over EUR 1.9 million (USD 2.3 million) in Q3 2021[7] - The U.S. CMS increased reimbursement for HIFU prostate ablation by more than 90%, enhancing hospital reimbursement[7] - Three new hospitals purchased Focal One systems in Q3 2022, indicating increased adoption of the technology[8] - The company is well positioned to complete the year with significant momentum due to strong commercial efforts in the U.S.[8] Research and Development - Research and development expenses for the nine months ended September 30, 2022, were €3,615 thousand, compared to €2,840 thousand in the prior year[24]