EDAP TMS SA (EDAP) revealed business updates with the announcement of Q3 results

The world leader in robotic energy-based therapies, EDAP TMS SA (Nasdaq: EDAP), reported fiscal third-quarter results of 2020 and issued an update on strategic and organizational developments.

Net revenue was USD 11.2 million for the third quarter of 2020, a decline of 8.5% relative to total revenue of USD 11.3 million for the same time of 2019. Revenue from the third quarter of 2020 represents the effects on equipment revenues of the global COVID-19 pandemic.

For Q3 2020, gross revenue from the HIFU market was USD 3.0 million, a 7.9 percent decline compared to USD 3.1 million for the third quarter of 2019.

During the period, gross LITHO company income was USD 2.9 million, a 27.6 percent drop compared to USD 3.7 million for the third quarter of 2019.

In the reported quarter, gross sales in the delivery sector were USD 5.2 million, a 6.4 percent improvement compared to USD 4.6 million for the third quarter of 2019.

For the quarter, gross profit was USD 4.7 million, relative to USD 5.1 million for the same time last year. In the third quarter of 2020, the gross profit margin on net revenue was 42.0 percent compared to 45.3 percent in the year-ago era. The year-over-year fall in gross profit was partly due to lower revenues in the HIFU market relative to the year-ago era, led mainly by COVID-19.

For the last three months period, operating costs were USD 5.0 million, relative to USD 4.9 million for the same time of 2019.

Compared to an operating profit of USD 0.3 million in the third quarter of 2019, the financial loss for the third quarter of 2020 was USD 0.3 million.