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Company Overview and Strategy EDAP TMS S.A. ( EDAP, the Company, we, us, or our ) is a medical technology company focused on the development, manufacturing, marketing, and sale of non-invasive therapeutic ultrasound and energy-based medical devices. We were founded in 1979 as a soci t anonyme organized under the laws of France for a duration of 60 years from the date of incorporation, unless ex…
The business is unprofitable at the operating level (-35.01% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 1.6%, essentially flat. Margins also contracted 3.0pp. This is a business that needs a catalyst.
ROIC dropped from -30.83% to -37.50%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$71M
▲ +1.6% YoY
Net Income (TTM)
-$29M
▼ -42.1% YoY
Op. Margin
-35.01%
▼ -3.0pp YoY
ROIC
-37.50%
▼ -6.7pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$16M
▼ -11.6% YoY
Net Debt
$7M
Cash & Equiv.
$20M
5Y CAGR: +9.5%
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