$FOCL

EDAP TMS SA

CIK:0001041934|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenues	$ 13,203	$ 9,509	$ 24,796	$ 16,009
Total cost of sales	(5,865)	(4,646)	(11,496)	(7,989)
Gross profit	7,338	4,863	13,300	8,020
Research and development expenses	(2,317)	(2,291)	(4,784)	(4,648)
Selling and marketing expenses	(7,535)	(5,295)	(13,833)	(9,693)
General and administrative expenses	(5,519)	(3,899)	(10,740)	(7,046)
Operating income (loss) from operations	(8,033)	(6,623)	(16,057)	(13,368)
Financial (expense) income, net	(6,295)	(79)	(8,002)	(81)
Foreign currency exchange gain (loss), net	(76)	362	77	(664)
Loss from continuing operations before taxes	(14,404)	(6,340)	(23,982)	(14,113)
Income tax expense	(8)	(14)	(25)	(23)
Loss from continuing operations	(14,412)	(6,354)	(24,007)	(14,135)
Income (loss) from discontinued operations, net of tax	(75)	(51)	437	285
Net Loss	$ (14,487)	$ (6,406)	$ (23,570)	$ (13,850)
Earnings (loss) per share from continuing operations - Basic	$ (0.38)	$ (0.17)	$ (0.64)	$ (0.38)
Earnings (loss) per share from continuing operations - Diluted	(0.38)	(0.17)	(0.64)	(0.38)
Earnings (loss) per share from discontinued operations - Basic	0	0	0.01	0.01
Earnings (loss) per share from discontinued operations - Diluted	0	0	0.01	0.01
Loss per share - Basic	(0.39)	(0.17)	(0.63)	(0.37)
Loss per share - Diluted	$ (0.39)	$ (0.17)	$ (0.63)	$ (0.37)
Average number of shares used in computation of basic loss per share	37,527,950	37,420,318	37,481,986	37,406,202
Average number of shares used in computation of diluted loss per share	37,527,950	37,420,318	37,481,986	37,406,202
Product and service
Total revenues	$ 13,203	$ 9,509	$ 24,796	$ 16,009
Goods
Total revenues	9,527	6,385	17,782	10,185
Total cost of sales	(3,442)	(2,945)	(6,607)	(4,477)
RPPs & leases
Total revenues	2,758	2,155	5,250	4,100
Total cost of sales	(1,635)	(1,186)	(3,210)	(2,390)
Spare parts and services
Total revenues	918	969	1,764	1,724
Total cost of sales	$ (787)	$ (515)	$ (1,678)	$ (1,123)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (23,570)	$ (13,850)
Adjustments to reconcile net income (loss) to net cash generated by (used in) operating activities:
Depreciation and amortization	1,902	1,599
Share based compensation	1,157	847
Change in allowances for doubtful accounts & slow-moving inventories	204	228
Change in fair value on EIB Warrants and loan amortization	7,938
Change in long-term provisions	254	186
Net capital loss on disposals of assets	289	183
Deferred tax expense (benefit)	6	(20)
Operating cash flow before changes in working capital	(11,820)	(10,827)
Increase/Decrease in operating assets and liabilities:
Decrease (Increase) in trade accounts and notes and other receivables	4,923	1,096
Decrease (Increase) in inventories	(363)	2,287
Decrease (Increase) in other assets	(636)	35
(Decrease) Increase in trade accounts and notes payable	332	(1,720)
(Decrease) Increase in accrued expenses, other current liabilities	901	(918)
Net change in operating assets and liabilities	5,157	779
Net cash generated by (used in) operating activities	(6,663)	(10,047)
Cash flows from investing activities:
Additions to capitalized assets produced by the Company	(1,396)	(1,969)
Proceeds from sale of leased back assets	182
Acquisitions of property and equipment	(599)	(62)
Acquisitions of intangible assets	(189)	(771)
Decrease (Increase) in deposits and guarantees	(15)	(113)
Net cash generated by (used in) investing activities	(2,017)	(2,917)
Cash flow from financing activities:
Proceeds from capital increase	19
Proceeds from long term borrowings, net of financing costs	13,964
Repayment of long term borrowings	(1,227)	(1,400)
Repayment of obligations under financing leases	(110)	(99)
Increase (decrease) in bank overdrafts and short-term borrowings	(2,243)	301
Net cash generated by (used in) financing activities	10,402	(1,198)
Net effect of exchange rate changes on cash and cash equivalents	(633)	2,231
Net increase (decrease) in cash and cash equivalents	1,090	(11,932)
Cash and cash equivalents at beginning of year	20,452	30,995
Cash and cash equivalents at end of period	$ 21,542	$ 19,063

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 21,542	$ 20,452
Current portion of trade accounts and notes receivable, net	10,060	14,948
Other receivables	651	1,286
Inventories	8,251	7,770
Other assets, current portion	1,699	1,153
Current assets of discontinued operations	16,812	11,555
Total current assets	59,015	57,164
Non-current assets
Property and equipment, net	8,635	8,789
Operating lease right-of-use assets	1,508	1,974
Intangible assets, net	1,772	1,794
Goodwill	735	757
Deposits and other non-current assets	1,616	1,607
Deferred tax assets	266	273
Net trade accounts and notes receivable, non-current	1,002	533
Non-current assets of discontinued operations		6,106
Total assets	74,548	78,997
Current liabilities
Trade accounts and notes payable	10,347	9,762
Deferred revenues, current portion	6,395	6,452
Social security and other payroll withholdings taxes	2,046	1,861
Employee absences compensation	1,029	981
Other accrued liabilities	4,408	4,832
Short-term borrowings	1,860	4,386
Current obligations under finance leases	118	72
Current portion of operating lease obligations	819	857
Current portion of long-term debt	848	2,076
Current liabilities of discontinued operations	8,978	5,862
Total current liabilities	36,849	37,141
Non-current liabilities
Deferred revenues, non-current	923	768
Obligations under finance leases	191	114
Operating lease obligations, non-current	644	1,070
Long-term debt, non-current	37,197	15,903
Other long-term liabilities	1,970	1,632
Non-current liabilities of discontinued operations		2,957
Total liabilities	77,773	59,584
Shareholders' equity
Common stock at €0.13, or $0.15 at closing rate par value; 37,797,483 shares authorized and issued and 37,527,950 shares outstanding at June 30, 2026; 37,751,519 shares authorized and issued and 37,481,986 shares outstanding at December 31, 2025	6,078	6,071
Additional paid-in capital	152,483	151,314
Accumulated deficit	(152,186)	(128,616)
Cumulative other comprehensive loss	(8,581)	(8,337)
Treasury stock, at cost 269,533 shares at June 30, 2026 and 269,533 shares at December 31, 2025	(1,019)	(1,019)
Total shareholders' equity	(3,225)	19,413
Total liabilities and shareholders' equity	$ 74,548	$ 78,997