EDAP earnings analysis
What we found in EDAP's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
EDAP TMS reported a total revenue of $17.8 million for Q1 2026, reflecting a significant 24.8% year-over-year increase, primarily driven by a 78.3% growth in their HIFU segment. However, the company reported a net loss of $9.1 million, wider than the previous year's loss of $7.4 million, highlighting ongoing operational challenges despite strong top-line growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Growth
- Total revenue reached $17.8 million, a 24.8% increase from $14.3 million in Q1 2025.
- HIFU Segment Explodes
- HIFU revenues surged by 78.3%, rising from $6.5 million to $11.6 million year-over-year.
- Improved Gross Margin
- Gross margin improved to 45.7% from 42.0%, aided by higher sales of HIFU units.
- Increased Cash Flow
- Despite a net loss, operational cash flow improvements included positive working capital changes totaling $2.7 million.
- Reduced Cost of Sales as Percentage of Revenue
- Cost of sales fell to 54% of net sales from 58% a year prior, contributing to margin improvement.
- Higher EPS Estimates Despite Losses
- Despite an EPS loss of -$0.25, Q1 estimates showed improvements in revenue expectations.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Net Loss
- Net loss grew to $9.1 million, compared to $7.4 million in the same quarter last year.
- Operating Expenses Surge
- Operating expenses rose by 26%, from $12.3 million to $15.5 million, resulting in wider operating losses.
- Decline in Non-HIFU Revenue
- Both ESWL and Distribution segments reported declines in revenue, with ESWL down 15.8% and Distribution down 21.2%.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.25
- Gross margin
- 45.73%
- Segment
- HIFU
- Segment
- ESWL
- Segment
- Distribution
What they said about what is next.
Revenue guidance for 2026 is reiterated at a target of $50.0 million to $54.0 million for the core HIFU business.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 25, 2026
- EDAP has realigned to focus exclusively on its Focal One HIFU platform and reports a string of regulatory wins (CE Mark March 26, 2025; FDA 510(k) Nov 20, 2025) and an expanding clinical evidence base (HIFI study: 3,328…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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