UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
August 28, 2025
Commission File Number: 0-29374
EDAP TMS S.A.
Parc Activite La Poudrette Lamartine
4/6 Rue du Dauphine
69120 Vaulx-en-Velin - France
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ x] Form 40-F [ ]
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 28, 2025
EDAP TMS S.A.
/s/ KEN MOBECK
KEN MOBECK
CHIEF FINANCIAL OFFICER
EDAP Reports Strong Second
Quarter 2025 HIFU Results
| · | +140%
Focal One® Net Placement Growth Year over Year |
| · | +76.8%
HIFU Revenue Growth Year over Year |
| · | 36
million Euro Credit Facility Letter of Intent Executed with European Investment Bank (EIB)
to further accelerate HIFU Growth and Strategic Expansion |
| · | Company
raises 2025 HIFU Year over Year Revenue Growth Guidance range to 26% to 34%, up from the
prior range of 16% to 25% |
Company to Host Conference Call and Webcast Today,
August 28th, at 8:30 a.m. EDT
AUSTIN, Texas, August 28, 2025 - EDAP TMS SA
(Nasdaq: EDAP), the global leader in robotic energy-based therapies, reported today unaudited consolidated financial results for the
second quarter of 2025.
“We experienced
our strongest second quarter performance in our company’s history, placing a net total of 12 Focal One Robotic HIFU Systems with
increased customer demand coming from both U.S. and international markets,” said Ryan Rhodes, Chief Executive Officer. “The
strong year over year growth in the second quarter underscores the accelerating momentum of our leading Focal One platform and its increased
adoption amongst urologists. To continue to advance the expansion of Focal One, including new indications and further development of
focused ultrasound technologies, we executed a letter of intent with the European Investment Bank that will provide a significant source
of low interest rate capital. As we enter the second half of 2025, our Focal One pipeline continues to strengthen, and we anticipate
demand for Focal One continuing to grow as more prostate cancer patients recognize the advantages of the Focal One treatment. This momentum
is further supported by the groundbreaking publication from the large multicenter prospective comparative HIFI study and the compelling
Level 1 clinical evidence from the FARP Randomized Controlled Trial, both of which are gaining wider dissemination within the global
urology community.”
Business Update
| · | On
August 26, 2025, the Company announced a letter of intent for credit facility with the European
Investment Bank (EIB) for 36 million Euros |
| · | On
July 1, 2025, the Company announced that, effective January 1, 2026, EDAP will become a U.S.
domestic filer and will begin complying with corresponding U.S. SEC reporting rules and Nasdaq
listing requirements |
| · | On
April 29, 2025, the Company announced that the positive final 3-year outcomes of Focal Ablation
versus Radical Prostatectomy (FARP) Randomized Controlled Trial (RCT) were presented at the
120th AUA Annual Meeting |
| · | On
April 24, 2025, the Company announced the launch of the new Focal One i Robotic HIFU System |
Upcoming Meetings
and Events
EDAP
management will attend and present at the upcoming H.C. Wainwright 27th Annual Global Investment Conference, in New York City
from September 8-10, 2025. The Company is scheduled to present on September 9th from 8:30AM - 9:00AM ET and will also conduct
1x1 investor meetings. Click https://journey.ct.events/view/ede7e5df-b6f5-4ffb-a947-50a936dfb93b
to register for the EDAP webcast.
2025 Financial
Guidance
The Company is updating
its 2025 financial guidance. Core HIFU business revenue is now expected to grow within the range of 26% 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. This compares to
previous revenue guidance issued at the beginning of the calendar year 2025 of year over year revenue growth between 16% and 25% in core
HIFU business, and year over year revenue decline between 20% and 25% in non-core ESWL and Distribution business.
Second Quarter
2025 Results
Total revenue in the
HIFU business for the second quarter of 2025 was EUR 8.5 million (USD 9.7 million), as compared to EUR 4.8 million (USD 5.2 million)
for the second quarter of 2024, representing growth of +76.8% on a year over year basis. The increase in year over year growth of the
HIFU division was driven by nine Focal One capital sales in the second quarter of 2025 versus three systems sales in the second quarter
of 2024. The Company recorded a 23.9% year over year growth in worldwide disposable revenue. Focal One procedures grew 4.8% in the U.S.
on a year over year basis.
Total revenue in the
Company’s non-core business (ESWL and Distribution) for the second quarter of 2025 was EUR 7.6 million (USD 8.7 million), as compared
to EUR 11.0 (USD 11.8 million) for the second quarter of 2024. The decline in non-core business revenue was expected based on the Company’s
strategic decision to focus exclusively on the high growth opportunity in focal therapy with the Focal One Robotic HIFU platform.
Total worldwide revenue
for the second quarter of 2025 was EUR 16.0 million (USD 18.4 million), an increase of 1.6% as compared to worldwide revenue of EUR 15.8
million (USD 17.0 million) for the same period in 2024.
Gross profit for the
second quarter of 2025 was EUR 6.8 million (USD 7.8 million), compared to gross profit of EUR 5.9 million (USD 6.4 million) for the year-ago
period. Gross profit margin on net sales was 42.5% in the second quarter of 2025, compared to 37.5% for the comparable period in Q2 2024.
The increase in gross profit margin on a year over year basis was primarily due to Company’s strategic focus on its core HIFU business
segment, which drives higher gross margins.
Operating expenses
were EUR 12.6 million (USD 14.5 million) for the second quarter, compared to EUR 12.1 million (USD 13.0 million) for the same period
in 2024. The increase in operating expenses was primarily due to focused investments in our HIFU business.
Operating loss for
the second quarter of 2025 was EUR 5.8 million (USD 6.6 million), compared to an operating loss of EUR 6.1 million (USD 6.6 million)
in the second quarter of 2024.
Net loss for the second
quarter of 2025 was EUR 5.6 million (USD 6.4 million), or EUR (0.15) per share, as compared to net loss of EUR 6.1 million (USD 6.6 million),
or EUR (0.16) per share in the second quarter of 2024.
First Half 2025
Results
Total revenue in the
HIFU business for the six months ended June 30, 2025, was EUR 14.7 million (USD 16.1 million), an increase of 38.5% as compared to EUR
10.6 million (USD 11.4 million) for the six months ended June 30, 2024.
Total revenue in the
Company’s non-core business (ESWL and Distribution) business for the six months ended June 30, 2025, was EUR 15.0 million (USD
16.5 million), a 25.7% decrease compared to EUR 20.1 million (USD 21.7 million) for the six months ended June 30, 2024.
Total worldwide revenue
for the six months ended June 30, 2025, was EUR 29.6 million (USD 32.6 million), a decrease of 3.6% from total worldwide revenue of EUR
30.7 million (USD 33.1 million) for the same period in 2024.
Gross profit for the
six months ended June 30, 2025, was EUR 12.5 million (USD 13.8 million), compared to EUR 12.3 million (USD 13.3 million), for the six
months ended June 30, 2024. Gross profit margin on net sales was 42.3% for the six months ended June 30, 2025, compared to 40.1% for
the comparable period in 2024.
Operating expenses
were EUR 24.3 million (USD 26.7 million) for the six months ended June 30, 2025, compared to EUR 23.3 million (USD 25.1 million) for
the same period in 2024.
Operating loss for
the six months ended June 30, 2025, was EUR 11.8 million (USD 13.0 million), compared to an operating loss of EUR 11.0 million (USD 11.8
million) for the six months ended June 30, 2024.
Net loss for the six
months ended June 30, 2025, was EUR 12.7 million (USD 14.0 million), or EUR (0.34) per share, as compared to a net loss of EUR 10.7 million
(USD 11.5 million), or EUR (0.29) per share for the six months ended June 30, 2024.
As of June 30, 2025,
the Company held cash and cash equivalents of EUR 16.3 million (USD 19.1 million) as compared to EUR 22.8 million (USD 24.6 million)
as of March 31, 2025.
Conference Call
Information
A conference call and webcast to discuss the
second 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, August 28th
@ 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=1726716&tp_key=220919ac3d |
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 include our
expectations to enter into a credit facility with EIB, the size thereof, the timing thereof and the use of proceeds from such credit
facility. 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.
Company Contact
Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 50
bconfort@edap-tms.com
Investor Contact
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: |
| | |
June 30, | |
June 30, | |
June 30, | |
June 30, |
| | |
2025 | |
2024 | |
2025 | |
2024 |
| | |
Euros | |
Euros | |
$US | |
$US |
| Sales of medical equipment | |
| 11,221 | | |
| 11,118 | | |
| 12,891 | | |
| 11,948 | |
| Net sales of RPP and leases | |
| 2,246 | | |
| 1,886 | | |
| 2,580 | | |
| 2,027 | |
| Sales of spare parts, supplies and
services | |
| 2,576 | | |
| 2,787 | | |
| 2,960 | | |
| 2,995 | |
| TOTAL REVENUES | |
| 16,043 | | |
| 15,791 | | |
| 18,431 | | |
| 16,970 | |
| Cost of sales | |
| (9,221 | ) | |
| (9,872 | ) | |
| (10,594 | ) | |
| (10,609 | ) |
| GROSS PROFIT | |
| 6,822 | | |
| 5,919 | | |
| 7,838 | | |
| 6,361 | |
| Research & development expenses | |
| (2,208 | ) | |
| (2,077 | ) | |
| (2,537 | ) | |
| (2,232 | ) |
| Selling, general & administrative
expenses | |
| (10,382 | ) | |
| (9,989 | ) | |
| (11,928 | ) | |
| (10,736 | ) |
| Total operating expenses | |
| (12,591 | ) | |
| (12,066 | ) | |
| (14,465 | ) | |
| (12,967 | ) |
| OPERATING LOSS | |
| (5,769 | ) | |
| (6,147 | ) | |
| (6,628 | ) | |
| (6,606 | ) |
| Interest (expense) income, net | |
| (57 | ) | |
| 190 | | |
| (66 | ) | |
| 204 | |
| Currency exchange gains (loss), net | |
| 319 | | |
| (49 | ) | |
| 367 | | |
| (52 | ) |
| LOSS BEFORE INCOME TAXES | |
| (5,507 | ) | |
| (6,005 | ) | |
| (6,327 | ) | |
| (6,454 | ) |
| Income tax (expense) credit, net | |
| (93 | ) | |
| (127 | ) | |
| (107 | ) | |
| (136 | ) |
| NET LOSS | |
| (5,600 | ) | |
| (6,132 | ) | |
| (6,434 | ) | |
| (6,590 | ) |
| Earning per share – basic and diluted | |
| (0.15 | ) | |
| (0.16 | ) | |
| (0.17 | ) | |
| (0.18 | ) |
| Average number of shares used in computation of basic and
diluted EPS | |
| 37,420,318 | | |
| 37,205,307 | | |
| 37,420,318 | | |
| 37,205,307 | |
NOTE: Translated for convenience of the reader to U.S. dollars at
the 2025 average three months’ exchange rate of 1 Euro = 1.1489 USD, and 2024 average three months’ exchange rate of 1 Euro
= 1.0747 USD
EDAP TMS S.A.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
(Amounts in thousands of Euros and U.S. Dollars,
except per share data)
| | |
| |
| |
| |
|
| | |
Six
Months Ended: | |
Six
Months Ended: |
| | |
June 30, | |
June 30, | |
June 30, | |
June 30, |
| | |
2025 | |
2024 | |
2025 | |
2024 |
| | |
Euros | |
Euros | |
$US | |
$US |
| Sales of medical equipment | |
| 20,184 | | |
| 21,085 | | |
| 22,224 | | |
| 22,735 | |
| Net sales of RPP and leases | |
| 4,406 | | |
| 3,661 | | |
| 4,851 | | |
| 3,948 | |
| Sales of spare parts, supplies and
services | |
| 5,011 | | |
| 5,952 | | |
| 5,518 | | |
| 6,418 | |
| TOTAL REVENUES | |
| 29,601 | | |
| 30,698 | | |
| 32,593 | | |
| 33,102 | |
| Cost of sales | |
| (17,084 | ) | |
| (18,394 | ) | |
| (18,811 | ) | |
| (19,834 | ) |
| GROSS PROFIT | |
| 12,517 | | |
| 12,304 | | |
| 13,782 | | |
| 13,267 | |
| Research & development expenses | |
| (4,663 | ) | |
| (4,146 | ) | |
| (5,134 | ) | |
| (4,470 | ) |
| Selling, general & administrative
expenses | |
| (19,619 | ) | |
| (19,121 | ) | |
| (21,602 | ) | |
| (20,618 | ) |
| Total operating expenses | |
| (24,282 | ) | |
| (23,267 | ) | |
| (26,736 | ) | |
| (25,088 | ) |
| OPERATING LOSS | |
| (11,765 | ) | |
| (10,963 | ) | |
| (12,954 | ) | |
| (11,821 | ) |
| Interest (expense) income, net | |
| (43 | ) | |
| 335 | | |
| (47 | ) | |
| 361 | |
| Currency exchange gains (loss),
net | |
| (637 | ) | |
| 187 | | |
| (701 | ) | |
| 202 | |
| LOSS BEFORE INCOME TAXES | |
| (12,444 | ) | |
| (10,440 | ) | |
| (13,702 | ) | |
| (11,258 | ) |
| Income tax (expense) credit, net | |
| (230 | ) | |
| (238 | ) | |
| (253 | ) | |
| (257 | ) |
| NET LOSS | |
| (12,674 | ) | |
| (10,678 | ) | |
| (13,955 | ) | |
| (11,514 | ) |
| Earning per share – basic and diluted | |
| (0.34 | ) | |
| (0.29 | ) | |
| (0.37 | ) | |
| (0.31 | ) |
| Average number of shares used in computation of basic
and diluted EPS | |
| 37,406,202 | | |
| 37,104,348 | | |
| 37,406,202 | | |
| 37,104,348 | |
NOTE: Translated for convenience of the reader to U.S. dollars at
the 2025 average six months’ exchange rate of 1 Euro = 1.1011 USD, and 2024 average six months’ exchange rate of 1 Euro =
1.0783 USD
EDAP TMS S.A.
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
(Amounts in thousands of Euros and U.S. Dollars)
| | |
| |
| |
| |
|
| | |
June 30, | |
December 31, | |
June 30, | |
December 31, |
| | |
2025 | |
2024 | |
2025 | |
2024 |
| | |
Euros | |
Euros | |
$US | |
$US |
| Cash, cash equivalents and short-term investments | |
| 16,265 | | |
| 29,836 | | |
| 19,144 | | |
| 30,883 | |
| Accounts receivable, net | |
| 18,527 | | |
| 20,288 | | |
| 21,806 | | |
| 21,000 | |
| Inventory | |
| 15,531 | | |
| 18,495 | | |
| 18,281 | | |
| 19,143 | |
| Other current assets | |
| 1,157 | | |
| 1,258 | | |
| 1,362 | | |
| 1,302 | |
| TOTAL CURRENT ASSETS | |
| 51,480 | | |
| 69,876 | | |
| 60,593 | | |
| 72,328 | |
| Property, plant and equipment, net | |
| 10,202 | | |
| 10,336 | | |
| 12,009 | | |
| 10,699 | |
| Goodwill | |
| 2,412 | | |
| 2,412 | | |
| 2,839 | | |
| 2,496 | |
| Other non-current assets | |
| 4,248 | | |
| 3,439 | | |
| 5,000 | | |
| 3,560 | |
| TOTAL ASSETS | |
| 68,343 | | |
| 86,063 | | |
| 80,441 | | |
| 89,083 | |
| Accounts payable & other accrued liabilities | |
| 18,549 | | |
| 21,350 | | |
| 21,833 | | |
| 22,099 | |
| Deferred revenues, current portion | |
| 5,898 | | |
| 6,641 | | |
| 6,942 | | |
| 6,874 | |
| Short term borrowing | |
| 6,276 | | |
| 6,243 | | |
| 7,387 | | |
| 6,462 | |
| Other current liabilities | |
| 3,392 | | |
| 3,577 | | |
| 3,993 | | |
| 3,702 | |
| TOTAL CURRENT LIABILITIES | |
| 34,115 | | |
| 37,811 | | |
| 40,154 | | |
| 39,138 | |
| Obligations under operating and finance leases non-current | |
| 1,660 | | |
| 1,939 | | |
| 1,954 | | |
| 2,007 | |
| Long-term debt, non-current | |
| 1,022 | | |
| 2,162 | | |
| 1,203 | | |
| 2,238 | |
| Deferred revenues, non-current | |
| 718 | | |
| 358 | | |
| 845 | | |
| 370 | |
| Other long-term liabilities | |
| 3,006 | | |
| 2,897 | | |
| 3,538 | | |
| 2,999 | |
| TOTAL LIABILITIES | |
| 40,521 | | |
| 45,167 | | |
| 47,694 | | |
| 46,752 | |
| TOTAL SHAREHOLDERS’EQUITY | |
| 27,822 | | |
| 40,896 | | |
| 32,747 | | |
| 42,331 | |
| TOTAL LIABILITIES
& SHAREHOLDERS’ EQUITY | |
| 68,343 | | |
| 86,063 | | |
| 80,441 | | |
| 89,083 | |
NOTE: Translated for convenience of the reader
to U.S. dollars at the exchange rate of 1 Euro = 1.1770 USD, on June 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)
| | |
| |
| |
| |
|
| | |
Six Months Ended | |
Twelve Months Ended | |
Six Months Ended | |
Twelve Months Ended |
| | |
June 30, | |
December 31, | |
June 30, | |
December 31, |
| | |
2025 | |
2024 | |
2025 | |
2024 |
| | |
(Euros) | |
(Euros) | |
($US) | |
($US) |
| NET INCOME (LOSS) | |
| (12,674 | ) | |
| (19,018 | ) | |
| (13,955 | ) | |
| (20,520 | ) |
| Adjustments to reconcile
net income (loss) to net cash generated by (used in) operating activities(1) | |
| 2,767 | | |
| 7,395 | | |
| 3,046 | | |
| 7,979 | |
| OPERATING CASH FLOW | |
| (9,907 | ) | |
| (11,623 | ) | |
| (10,909 | ) | |
| (12,541 | ) |
| Increase/Decrease in operating assets
and liabilities | |
| 713 | | |
| (1,961 | ) | |
| 785 | | |
| (2,116 | ) |
| NET CASH GENERATED BY (USED IN) OPERATING
ACTIVITIES | |
| (9,194 | ) | |
| (13,584 | ) | |
| (10,123 | ) | |
| (14,657 | ) |
| Additions to capitalized assets produced
by the company and other capital expenditures | |
| (2,669 | ) | |
| (4,120 | ) | |
| (2,939 | ) | |
| (4,445 | ) |
| NET CASH GENERATED
BY (USED IN) INVESTING ACTIVITIES | |
| (2,669 | ) | |
| (4,120 | ) | |
| (2,939 | ) | |
| (4,445 | ) |
| NET CASH GENERATED
BY (USED IN) FINANCING ACTIVITIES | |
| (1,096 | ) | |
| 4,635 | | |
| (1,207 | ) | |
| 5,001 | |
| NET EFFECT OF
EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | |
| (611 | ) | |
| (566 | ) | |
| 2,531 | | |
| (3,103 | ) |
| NET INCREASE (DECREASE)
IN CASH AND CASH EQUIVALENTS | |
| (13,571 | ) | |
| (13,635 | ) | |
| (11,738 | ) | |
| (17,204 | ) |
(1) including share based compensation expenses for
775 thousand of Euros for the six months ended June 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 six months’ exchange rate of 1 Euro = 1.1011 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
six months ended June 30, 2025
(Amounts in thousands of Euros)
| | |
| |
| |
| |
| |
| |
| |
| |
| |
|
| | |
HIFU | |
| |
ESWL | |
| |
Distribution | |
| |
Reconciling | |
Total After | |
|
| | |
Division | |
| |
Division | |
| |
Division | |
| |
Items | |
Consolidation | |
|
| Sales of medical equipment | |
| 9,321 | | |
| | | |
| 681 | | |
| | | |
| 10,181 | | |
| | | |
| — | | |
| 20,184 | | |
| | |
| Net sales of RPP and leases | |
| 3,752 | | |
| | | |
| 538 | | |
| | | |
| 117 | | |
| | | |
| — | | |
| 4,406 | | |
| | |
| Sales of spare parts, supplies and
services | |
| 1,578 | | |
| | | |
| 2,069 | | |
| | | |
| 1,365 | | |
| | | |
| — | | |
| 5,011 | | |
| | |
| TOTAL REVENUES | |
| 14,650 | | |
| | | |
| 3,288 | | |
| | | |
| 11,663 | | |
| | | |
| — | | |
| 29,601 | | |
| | |
| GROSS PROFIT (% of Net Sales) | |
| 7,339 | | |
| 50.1 | % | |
| 1,468 | | |
| 44.6 | % | |
| 3,710 | | |
| 31.8 | % | |
| — | | |
| 12,517 | | |
| 42.3 | % |
| Research & development expenses | |
| (4,254 | ) | |
| | | |
| (84 | ) | |
| | | |
| (325 | ) | |
| | | |
| — | | |
| (4,663 | ) | |
| | |
| Selling, general & administrative
expenses | |
| (13,248 | ) | |
| | | |
| (507 | ) | |
| | | |
| (4,035 | ) | |
| | | |
| (1,828 | ) | |
| (19,619 | ) | |
| | |
| OPERATING PROFIT (LOSS) | |
| (10,163 | ) | |
| | | |
| 876 | | |
| | | |
| (650 | ) | |
| | | |
| (1,828 | ) | |
| (11,765 | ) | |
| | |
11
