Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| Our continuing education efforts and growing presence at major medical meetings are also helping to drive urologist demand for Focal One |
| So looking out, we're excited for the momentum and building more momentum around this product |
| Despite the modest decrease in overall HIFU sales, we are very encouraged to see a 49.2% year-over-year growth in disposable revenue, reflecting strong procedure demand |
| It is also clear that the strategic investments we continue to make in our commercial and clinical teams are further helping to drive increased utilization |
| So again, I think the evidence is strong |
| procedure volumes as well as our fourth consecutive quarter of double-digit percentage procedure growth |
| The growing number of procedures across our install base provides the most compelling market-based evidence that Focal One is fast becoming an essential part of prostate cancer management |
| And as we know, micro ultrasound, 29 megahertz, has a measurable improvement in terms of visual acuity to look at prostate tissue and specifically better target regions of interest for placing biopsy needles |
| Baco stated that one year post treatment that focal ablation achieved good oncological efficacy, preserved continence, and erectile function better, and resulted in significantly less Clavien 3 complications than radical prostatectomy |
| But the Cleveland Clinic Abu Dhabi facility has a very strong reputation in the Middle East |
| field service and clinical application organizations to further support HIFU adoption and long-term revenue growth |
| I'm pleased to report through the last fiscal quarter, we've continue to see strong growth in U.S |
| We are confident that these benefits, along with strong clinical outcomes will continue to drive procedure growth, as well as new Focal One placements |
| So regarding second half performance, we still see a very good Q4 picture lining up |
| You know, our pipeline is very strong |
| As noted, we continue to make solid progress in our endometriosis clinical program |
| We anticipate a strong finish to the year based on accelerating trends in utilization and additional placements of Focal One systems |
| As the global leader in robotic HIFU therapy, Edap remains well positioned to capitalize on the growing acceptance of Focal One HIFU as a market leading technology platform |
| Moreover, the continued robust year-over-year growth in procedure volumes provides us with the strongest market-based evidence to date that robotic HIFU, and Focal One in particular, is becoming an essential treatment in the management of prostate cancer |
| Looking out through the remainder of 2023 and considering our strong start to the fourth quarter, we expect the combination of continued procedure growth with our existing customers and placements of new Focal One systems to result in strong operating performance as we close out the year |
| Ryan Rhodes As you can see in closing despite experiencing delays in HIFU sales in the quarter, our core pipeline remains very strong across a wide breadth of both academic and community urology practices |
| We've closed two of those deals already, and we have good expectations here for the second quarter to be at or above first half |
| We're part of a clinically necessary revenue-enhancing service line that brings strategic value |
| So I think it's all of these things coming together, building more programs, a stronger migration to a better technology -- Focal One -- and the ability to ramp and onboard the clinical users in a timely manner through the help of our clinical commercial teams |
| The advantages of Focal One HIFU are clear, as it is a noninvasive procedure demonstrating excellent oncological control, with minimal patient downtime while also avoiding the need for radical surgery or radiation |
| This two-day training program included lectures, hands-on simulations, and live procedures with the Focal One Robotic HIFU platform, which reflects the growing awareness of Focal One HIFU amongst top experts in the field of prostate cancer management |
| And we've shown success in doing that |
| I was hoping you could just give us an update on how customers are thinking about capital equipment purchases, and any further impact on rates that it might have bled into 3Q? Ryan Rhodes Yes, Michael, we've said before, I think we are positioned and positioned strongly |
| And I guess, also last quarter, you know, you sounded pretty positive on the funnel as you do today |
| We've got some very compelling data |
| Statement |
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| The decrease in gross profit margin year-over-year was primarily due to three main factors -- the adverse impact from delayed sales of U.S |
| The decline in distribution revenue was driven primarily by nine ExactVu units sold during the third quarter of 2023, as compared to 12 units sold during the third quarter of 2022 |
| Total revenue for the third quarter of 2023 was EUR11.7 million, a decrease of 4.1% as compared to total revenue of EUR12.2 million for the same period in 2022 |
| The decrease in revenue was due to lower sales of Focal One and ExactVu units versus the prior year period |
| First, finished goods inventory was high due to low Focal One and ExactVu system sales in the quarter |
| Operating loss for the third quarter of 2023 was EUR5.6 million compared to an operating loss of EUR2.1 million in the third quarter of 2022 |
| Net loss for the third quarter of 2023 was EUR3.9 million or EUR0.11 per diluted share as compared to net income of EUR0 in the year ago period |
| You know, as we've mentioned, we had a couple of deals that came down to the very end of the quarter |
| I know last quarter, you had mentioned that higher rates have elongated the sales cycle somewhat |
| Excluding the impact of noncash share-based compensation, operating loss for the third quarter would have been EUR4.2 million compared to an operating loss of EUR1.7 million in Q3 of 2022 |
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