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EDAP EDAP TMS

Participants
Jeremy Feffer Investor Relations
Marc Oczachowski Chairman and Chief Executive Officer
Francois Dietsch Chief Financial Officer
Jason Bednar Piper Sandler
Andrew D'Silva B. Riley
Frank Takkinen Lake Street Capital Markets
Swayampakula Ramakanth H.C. Wainwright
Call transcript
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Operator

Greetings and welcome to the EDAP TMS First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jeremy Feffer with Investor Relations. you. Thank ahead. go Please

Jeremy Feffer

hear Good Dietsch, EDAP thank financial TMS call. the we results Donna. Officer Chief us Chairman Financial and and for Officer. for conference of will call, today's the first and On Marc morning you, Oczachowski, you Executive Francois and Board; joining operating from Chief Thank quarter XXXX

forward-looking statements statements of Before to with are now to expansion like materially Exchange Oczachowski. contain those limited forward-looking to Marc? may may management's remarks we Factors begin, today current would and to, management's I that a on a the actual Commission. uncertainties and growth in would which I based like the are could Marc turn regarding from include EDAP's expectations to in plans. subject results Executive cause company's cause company's the the Such remind Securities risks Chairman not everyone those Chief that described are such and that filings statements. over the call statements differ and difference described to such include, and but Officer, number

Marc Oczachowski

then you, Francois the Thank good I and everyone. start call providing And a our update, operational over morning, by to financial review Dietsch brief to will performance. Jeremy. turn

successful key also program strategically fully growth support start capital One of let First, US capital for the an the a in of to raise me our several substantial by quarter to and endometriosis. will novel April, the clinical point business. reasons. commercialization prudent any be advancing first important that This supported of the trajectory we XXXX question, enable in believe Focal commercialization had by In technology us ongoing saying and we the that opportunity marks investment. subsequent effort, must while Without important was period timely our raise

market. balance multiple strengthened across our healthcare foremost, by fully engage us sheet channel resources the additional provide to US and now First the

further us in a in investing which as to allow will talent addition discuss and these innovative adoption attract driving reimbursement, such with expertise to technologies, I tier market In will access Focal One. moment, top funds of in additional vast

the are we organization, out these in paradigm serving place we market. prostate are the well the surgical infrastructure. US an leader that broader sensitive clinical this And the cancer acceptance, are of adopted that Focal right our in To time. positioned With and clearly activities right have will establish sales firmly as marketing tier so effective important we and company. to and to most HIFU continue addition, be at management In US will reference for accounts complemented building that gaining our at relative for invest our option, end, we as One hospitals will ourselves by that important already the top as less many

Some include many the UCSF pipeline Center, Ochsner some our sales on outreach from of these Mount continues and Medical pandemic. grow, others Sinai, restrictions to Clinic, resulting and notwithstanding activities Cleveland and

a reaches clearly opportunity efforts important develop provided One practices. to these the relationships. resources While urology And involve our funding added it's engaging this KOL, that breadth important help wide marketing equally will leading Focal the maximize will of us strategic medical from

the investor confidence Secondly, HIFU an management was sign in also our a recent clear represents prostate important of financing of advancement technology that our cancer.

prostate the data that cancer. One decision-making investment raised of clinical drive we ultimately time. patients recognition generated well community by reflects important quarter first from question, during Without medical As we the Focal clearly for controlled a the becoming option all an new is trials capital know, treatment the battling

diligence of spending focused high these the It after technology end know conducting so in add to and is to extending new our help shared our this that dynamics the the placed we based a investors of truly upon coverage market, an due I company healthcare bringing believe are offering. also appreciate competitive gratifying us significant important addressing. in need research that resulted Finally, of settling with innovation our raise their which we This and like would worthiness to capital unmet will firms on much that that have vision the final also the thing time quality we participated market.

marketing third the sizeable product the capital least never easy, payer funding essential Of the in medical navigating long all adding superior of are launch. several technology, practices a complex while not medical landscape. sufficient new to brings elements technology and challenges, and course, the which market Changing US authorities is healthcare is successful launching reimbursement, the a

We CPT to prostate broadest X the malignant possible the in ablation patient US. Advisors. access help front These resonate effective critical and the to the top we for relationships HIFU physicians end-to-end the coverage executive urology practices are remainder as will today. announced March, of entities us drive with company. One and priorities hospital procedure. an finishing Focal government tissue a as our institutions, that available US, announced And throughout further performing CMS these Category perspective, of partnerships achieving year with beyond. adoption productive In and private partnerships building strategic with are suites with establishing remain of with and MTP and continues off offering and momentum previously reimbursement on market to key market Securing Argenta and across level combined only reimbursement early and growth two Focal like start, partnerships, code the we of our for the One mainstream a also consultancies: coupled recognize anticipate leading on One establishment increased the strong From network and sales healthcare accepted reimbursement to X the reimbursement Focal insurers across the positive the

Now, a our I will on update provide program. endometriosis brief

the who trial sites. will efficacy last months we during be At a pathology. and X France that conference in study XX trial assessed April, X X opened X period. enroll both the across noted has treated this of over major end total Phase of sorry, a successfully As HIFU our call, evaluate hospitals site, already patients will across second women follow-up of [indiscernible] will Investigators safety a

to our net XXXX. first we year-over-year new that for million record a highlights option the provide now let few first revenues revenue gross quarter execute of and a this cover XX.X%, XX of operating an margin a in able our I The growth look Francois HIFU the tracking margin led the patients. you have processes, and company, of placing of an from as will We EUR XX.X treatment QX for could am important Enrollment could quarter greatly the technology We We of and a increase treatment expansion study are happy original be basic us forward with expanded of and we to year. to these application be $XX.X this XX.X% to with minimally-invasive the important, to financials a patients. pleased on believe of revenue total closely to expectation income quarter. quarter a profitable the or internal basis. growth million, on updating company. offer XX.X% throughout which in is the both points the for program according report achieve treated basis total generated me moment, the strong of We but as use first compared to timeline. our endometriosis XXX represents improved to

we Our which the signing of difficult outlined a This a of as quarter December accounts, few in a HIFU particularly XXXX. slightly December were press down we on revenues versus key was the release fourth had comparison XXth. strong

treatment HIFU in driven particularly We Europe, has softness hard. hit revenues also experienced especially in the in pandemic where a QX,

However, and adults code performed also of QX. HIFU to XXXX. time. important hospitals since last impact HIFU and treatment CPT that and growth the to it of in the increased of In use them by Category kids US, as urology X we well of their official QX continued its XXXX, and [indiscernible]. addition our pleased of is compared academic the by there to treatment compared by as of is awareness is naturally adoption broadening driven This Most as important as driven of January treatments in centers in as performed to revenue number key the particularly, at have note sequentially the the are cases between the implementation numbers year, QX over an

position, or of XXXX. the quarter ended very and we of with EUR first as to December EUR million, Turning equivalent strong XX.X of or million as compared cash $XX.X XXst $XX.X million cash cash a XX.X to million

million. end of Depository American As that of approximately public underwritten noted yielded of proceeds we subsequent offering gross to the an the completed quarter, earlier, Shares $XX first

will Dietsch the results. in We strong provide accelerated elsewhere. our balance And of now, with our details plan a CFO, advance Francois? which our Francois have to US and some financial sheet growth

Francois Dietsch

that good Thank morning, figures, percentages, in all except note you, for Marc. are And Please everyone. euro.

to to yielded quarter first development. of up heavier or first X.X XXXX, EUR X.X million million exchange in The decline sales was to first compared the in first quarter compared also quarter the quarter Distribution a expenses the our the XX.X million for compared Net were effect an first EUR quarter quarter fact XXXX EUR to revenue Operating X.XX the driven the of EUR for pandemic X.XXX the diluted million of the new quarter. for million as share X.X offering this in into costs. Gross operating diluted revenue US X.X pro XXXX. Total per first was XXXX X.XX compared at of for volumes XX.X year XX.X% year was equivalents XXXX primarily Total for period. approximately the decline conversion million, result, level to The The of was total XXXX. with quarter EUR was add compared Subsequent to year-over-year EUR quarter same of XXXX that reaching business million XXXX. EUR period to million quarter Paycheck for was of EUR first revenue EUR currently XX.X% X.X X.X trend. of thanks first million, for For EUR to compared XXXX. quarter XX.X quarter the profit underwritten ago $XX.X in the the the an for Protection the a first EUR in EUR profit X.X EUR LITHO first first the to fixed the first QX in average euro-dollar increase for Imaging the approximately the of noticing million a EUR XXXX, first EUR purposes, million positive to of the Operating our was to to million compared million business early XXXX versus for compared the the rate X.X which million on of net XXXX ended for million profit million cash moderate period. Exact million we in linked million. net end units period. same of to of to in Shares of first EUR Gross the for are the X.X public $XX.X in roughly revenue the at EUR EUR ago increase gross XXXX. the XXXX, the proceeds for major account due XX.X and the of loss or EUR of million, the in EUR X.X X.X% We million income increase quarter the American forma quarter per our X.X taken in Program X.X end in term first stands for of financially share effect XX.X% a of X.X of sales million XXX.X% XXXX margin is X.X and record for quarter the completed million, Depositary EUR $XX was for business million a compared cash of of the a with December and quarter XXXX. of profit first Total ago the of we cash was as flat for continues $XX.X an quarter, net first X.X loss really as of HIFU sales year or

the X.XX stands pro ADS underwriting to share forma Marc. to issued we of million And approximately pursuant turn ADS Our now the including shares, count XX.X back offering. million call at

Marc Oczachowski

Thank you, Francois.

Focal leading clear I ingredients session, Before channels, impress turning to operator accelerating to we would have question-and-answer call back to of the an our our the commercial key a upon attractive prostate technology our now technology sheet strategic year and capable Despite strengthened investors, that in longer-term, into growth outcomes, patient to be necessary of place a the for reimbursement to future proven treatment are opportunities. to from distribution like we better start balance consistent secure rent, cancer the in clinically a remain continued in our XXXX potential helping essential the us a messaging multiple procedures. therapeutic transforms our for challenges confident promises address partners who pandemic, and supporting of which the company our HIFU and One extremely

call We will now to open question. the your Operator?

Operator

you. Sandler. floor Please for is question The open Instructions] ahead. first Piper from Thank Jason now [Operator questions. is coming go Bednar Our of

Jason Bednar

well. Hello. everyone's My first Marc. Hope question,

just Focal the uptick here quarter? conversations know demand second quarter And last growing the HIFU mentioned months? talk how been far you new You have into utilization has the you the going can with thus here then few in One in continued about

Marc Oczachowski

thank you US significant Yeah, the cases performed last for you. joining. compared growth of that, QX. I as well the Hey, a QX, and has QX Jason. in the as what as Thank trend to is number Well, shown said during year

that bought I by question, you part you patients, of know, some momentum the different centers that the and sites. that's, the been adoption and shows, are in other that academic So in again, many recruitment have of know, sorry. the machines KOL didn't get again,

Jason Bednar

how on the a It few here time what from looks new just perspective? been funnel like months, basically One conversations just demand have just was last the Focal going what

Marc Oczachowski

continue we said, to And of in a get to our pipeline. and Yeah, I continue pipeline projects. more mean, and as I leads we again, more I mean, grow

So it's pretty going well.

Jason Bednar

maybe the this coming that you're to of understand And willing question And a great. Are planning. about deployment the quarters? then the two-part Okay, and on investments you then talk sizing over you should from still any you we returns investments? the account the our to models? when see in you time and for that talk need to know this about then Can make pace expect investments

Marc Oczachowski

I too I of Jason, part sorry, believe the you the your that? not didn't line is repeat you, first Can get question. Can good. But

Jason Bednar

pace if year? Yeah. or color showing as there much month part I kind expecting quick you a but should this X You the could lag the know the XX be the and guidance to, sizing and to of question know was lag, you investments how just how again, month about month investments know, we'll of any know, you the be just wondering the was up? the building it when month up, of for on see just talk far we how go? sizing, rest that's, then when was you And in the much you the and returns and fruits showing I of X of of kind start X second as pace similar might lag the should whether the, be and understand know, immediately, to won't these, come and

Marc Oczachowski

the the pandemic, budget the it's leads year, the so it's beginning and still of very of and you have on within of well assessment visibility said So, to clear beginning the early, the cycle actually, a different we as that times, context the projects few have. the know difficult I a too of

So it difficult first clearly to of will me answer question. the part for be your

of Now for again, it's it's will something building. the takes time, covered on milestones grows, discussed return lives acceptance, we achieve we expect definitely a to a pace. and several lot to second as increase we building And - coverage this that part, and start know investment on the work at as you times significant market a and so though

to into in again, as as generate action the as as to put possible. and is and And as plans in linked for one get actions fast execution all quick that return therefore, So, And accelerated order in will other. we possible well. the

Jason Bednar

there key one right a the further for and Okay, front. on might coverage here the me. from progress what 'XX? what some wins understood. wins maybe Could And Marc, last reimbursement expand standpoint on you on one again, be maybe then just on for expectations you reimbursement the of mentioned front remainder these were

Marc Oczachowski

the It's implemented we know, the mean to company the as code said, now all to I we build year, and get Again, need more covered lives. need beginning coverage, I got at about we to you CPT we, coverage. of recruit

are So these milestones. and this the is the goal

the to coverage policy much as reimbursement. automatic the again, starting the having possible, get idea for max their and the to is So, idea issues. as into part get to on And the hand, get HIFU payers CMS positivity other is private

and these mixes. is that the plan the this are So

Jason Bednar

Right, much. understood. Thanks so

Marc Oczachowski

Thanks, Jason.

Operator

Thank you.

go next Our coming of question from B. is Please D'Silva Riley. Andrew ahead.

Andrew D'Silva

my for good questions. taking Thanks Hey, morning.

stronger just letting pace Focal you is And and for driving info moving a why Exact us kind I know, Focal Could a equipment offering. that even a really So many know its while very that mean ESWL you to very, One start just was reimbursement I'm Vu were Exact quick pulled? Can you both quarter? just start. relativity, curious surprised segment. is Vu placed and Just very few has capital the just than even the of by much own Systems in I talk the what's to ones be a by Ablatherm, seems And which me HIFU One, about being how needs? mix. product at have complementary

Marc Oczachowski

and for the thanks Hello question. Okay.

second equipments sold, long first the so Exact the And had question a year. X rest machines printers, ask was LITHO what X HIFU far in no of it's may last So as the the about? got as question part as Vu quarter you question. the But we we I devices the to for and of repeat same as

Andrew D'Silva

to since complementary both to relative even One, progressing equipment items Vu another. Focal to - really trying one capital quickly, both very Just they're understand Exact why and is so particularly

performance of HIFU. particularly the just in Vu, to been regard I've over very Exact So surprised by

Marc Oczachowski

question good significantly a Focal Focal it's purchasing The a than Vu, One. or times an expensive like buy more to One investment capital though. it's actually different a is more Exact Yeah, in X

very treatments. the different. The diagnostics to I Exact Focal indication of the perform it's for One So when cancer, prostate is as different mean, is Vu well, used is

two different things. are these So

to Just idea. give you an

cancer about terms on again, significantly typically X newly US, are about prostate it's basis price the and of is US on diagnostics. cases, year. you million in they Vu every equipments in frequency year shared every know addresses a on prostate the higher In of the on diagnosed that biopsies I is and One, of market number performed Focal Exact XXX,XXX or as markets cases When different,

market So a equipment of sold minimally-invasive volume an though diagnostic between equipment ultrasound and equipment and tool. much as a field different usually type it's are be equipments. very the and Even will for the said they you surgical but have more of complementary, the diagnostic different tool in

Andrew D'Silva

And I to it with That as a makes during that that Ablatherm is versus reason sense. the fourth quarter, a ask I And system? is One, couple relates strategy systems. the actually of you last or noticed Focal there placed

So any more are way in should be sure one-off those forward? situations? Ablatherm I thinking material sort we if about going if Or wasn't of

Marc Oczachowski

were in punctual refurbished upgrade case more One. the And the we the in the sold at Ablatherm and users Ablatherm end thing did machine a that's manufacture the you last equipments year machines, we in to of the US past secondhand important equipment. to for some we our the sold Focal program or trading no, of Yeah, we know, that is Ablatherm as secondhand And usually well anymore. are don't that,

So buying traded were Focal Ablatherm. in they One and the were we

opportunities. that those are for to in So, invest getting HIFU secondhand Ablatherm into good to money little want

really business. punctual it's a and So optimistic

Andrew D'Silva

Okay.

with curious for your just should commercial last and looking what know, maybe perfect. those were out you referenced partnerships? things let we be Argenta. you know, with quarter, to Okay, us reimbursement. of how next initiatives And was And partnership I progressing MTP

Marc Oczachowski

- We started most and And we the We with on C-code focus private to now a started the the started the relationship just the we started but on That's and how we CPT with actually you partnership started meeting long companies - of coverage. some want work that's had. got them with time, and to we payers to that last already with relationship we initiatives insurances. to of private know, increased we've is code. actually we increased medical then the announced before, sticking those do really because directors get we

that with can our the support And to on so that existing support also hotline and work they done users give claim we properly and we get right our so covered. way built this claim their cases and to

about plan into more I business thing, in action in have all an this as and helping also but further it's lobbying as coverage will final with initiative. said sites, our And going we So well increase our that completed now partners, we building people the with team. of the kind the payers to in we're get as key

Andrew D'Silva

Okay, beyond times but to Medicare, about talked X being as the nothing higher you we've coefficient should deviate as multiplier times commercial what of far previously correct? know really materially X.X than that

Marc Oczachowski

one Yeah, when we're they from to be to they decide that But other. their that's not usual viable multiples ultimately the will cover, yet. use can there

Andrew D'Silva

last and question. Okay,

end of kind looking to the first could someone from year managed, be like was by the support get would that trying quarter more from we standpoint, of a should just about if little salesforce what year are where around you've be of the where OpEx the for helpful. sales granular on capital maybe well Just we maybe investments infusion? US with are expecting now and today and recent US sales you reps of standpoint? just very discuss Could to the last fourth kind the then a rep year. Obviously, your got focused think you to talk particularly And you that you be should that the hope commercialization a of relative quarter on what

or you any be would Thank that very assistance So useful. much. guidance very

Marc Oczachowski

and today said really build increase before And mean I we're that as team. the by also company, again, well, are that building more and of helping have strengthen using marketing our want we already and centers data the top by but to like gathering and about it's know, only don't to I the and initiatives, the again, want sales yet idea the we the though. guys, for Thanks really way technology. you question, not I the marketing Yeah. of with number from people. said clinical tier I clinical initiatives the bring people, more talking about, name It's clinical a sales the our academic coverage

we significantly So have the end again, only as year and well. will And definitely but in marketing the departments actions in grow salesforce will before the the also side and company. clinical of the increase, not that that we on more so initiatives that

Andrew D'Silva

But teams be you it X the salesforce say bigger Okay. expect far team or in size and times just clinical of the today, marketing do to times like aggregate? as domestically as and X

Marc Oczachowski

Yeah. be, as you possible. as That know, again, much will

Now I to and and move forward we like the deliver said, ingredients have all execute.

best well Now guys. another the get to the idea is the question of idea you to triple double as And the salesforce, know, is opportunity. again, it's just or not

not I force want I you people. sales double that's to to best we're And get sell. that my sales will building. don't know, So, want with, people with what the

also speed, So for quality. but looking for we're looking we're

it by I find XX% guys That's again, can because who because double I it, if is just only the difference in right find we're will what theoretical will I the But increase triple so a do. you, XX%, of going I So it, can I right guys increase. the the if idea compromise. good And, I can tell I theory. between to that's

possible. fastest And our quick quality a speed. it involved realized quality as ID again, compromise. to programs it's can and So go successfully so our possible compromise with That's as between we way and in that a partners achieve is the best people the of it's

Andrew D'Silva

- Very Thank you good much. luck point. Best very

Marc Oczachowski

Thanks, Andy.

Andrew D'Silva

progress. Really the looking forward to watch

Marc Oczachowski

Thank you.

Operator

Thank you.

from coming is ahead. Lake question Frank Takkinen of Capital go Please Markets. next Our Street

Frank Takkinen

Vu And taking you sites kind you One? for the both my view of overlap with sell Exact target how thanks Vu us on that start Focal speaking Hey, Marc, update And opportunity then have an I roughly questions. Exact that of to into? Exact and sites do with could the wanted to installed? to Wanted One Vu? Focal

Marc Oczachowski

is on complement technologies targeted again, Yeah, and and the in is one, synergies that's as prostate. two a precisely And between the a question. the prostate good on cancer again, evidence devices dedicated to where as is well, diagnose way, the very

And Focal level So And you One that's that of then of fits prostate perfectly Vu. where do focal treatments. have targeted you Vu. want certainly capability then and cancer, Exact Exact once some that's to diagnosing

the the really way way that's second work good question, part really projects perfectly or a true complement. the of it together. on - install that's of the has is again So that your And of base they pipeline your the On it certainly do diagnostics is world XXX next that which systems treatment. step Vu, you're a the about logical do to Exact able when One around be is yet, now, to focal the treatment for those have don't Focal to able targeted targeted or

initiate to these project. a extremely candidates One good are So Focal

Vu extremely Exact project generate target in I and good the datas. that's, all Focal are One indeed, those candidates mean, for users and existing So building

Frank Takkinen

And thank Perfect, endometriosis. you. then next on

of for could expected the milestones all new just attention the I months of XX Focal that Am use about couple regulatory thinking for on process little you about is gem us, data a update Focal comments just this here, site prostate place, months? you the of regulatory HIFU patients us you but given the and And system a a indication. enrolling kind think heard don't then bit through another I support rather the the if I the remember correctly, the more in already generating One I correctly? endometriosis about is to hidden have already over given of has Could to next believe it's One cancer. XX go I update to to landscape

Marc Oczachowski

tissue elation is for the Focal the on depending are in device But approved prostate for endometriosis where investigation program. exact not treatment One really, you Not the exactly. prostate in same is or the world. the cancer

that a after Marking. we'll doing, the X Phase probably And clearance. FDA regulatory X that study this then study in the we towards and will conduct were CE study the Now path Phase one, be key

aspect regulatory hopefully treatment or impact based cleared the as yet But for on far, doing one the sites. goes the recruitments Phase site, the of complete will we've we not And how be study it's of we and are within milestones so as the is other that year. soon the on half ultimately. And open XX. we're endometriosis So will milestones The out well, X also well on equipment, pandemic far pretty said, XX very As we've approved of opened the to the milestones got us. second will done I already that

Phase have multi-centric X we centers are As a reminder, study X. that in involved the

to, of year is six months. to of patients, have within and then treatment idea this the we follow-up conclude recruitment So a the

X you we next studies the you shall regulatory the Phase So the And idea the Phase technical be authorities enough to based we'll end discuss would to if a is gives the study. start to on data are get discussion into then that, gathered that said in see need to milestone, with of any the get like which X, to during an on case, some healthcare of idea which the or just started data. get

the is front little So milestones in different the and this bit a program of us.

Frank Takkinen

safe year up gross expectation mix higher quarter last of year. through makes one the of upward assume the fiscal trend distribution the the And HIFU for That of back Got it through and end we expect me, sense. 'XX? a end of trending Is given in the to the it. should margins to

Marc Oczachowski

way looking a contribute margin. at gross and you as to yeah, it's it increasing know, the this - It's very that good HIFU positively assumption

we So that's what see.

Frank Takkinen

my all taking for questions. thanks Perfect,

Marc Oczachowski

Thanks, Frank.

Operator

Thank you.

Wainwright. coming Please ahead. is Swayampakula from question next of go Our H.C. Ramakanth

Swayampakula Ramakanth

Thank RK. This Marc. you. Good afternoon, is

Marc Oczachowski

Hello, RK.

Swayampakula Ramakanth

CPT easier that you Now the one the these discussions institutions? get folks the leads bit from have within probably that the from a have at level? And the gotten are to from take - two tier next little from you what probably you you to tier a One one At some with going of Focal all this when for program have and long do had you starting been of you a some you've them you think clinical Ablatherm these the know, with can tier some learnings the institutions. the quite folks. that the time, code Hi. of as on to these experience organizations know, point, exhausted

Marc Oczachowski

you, the one yet the thank institutions. Well, No, covered for all tier question. have RK we not

and X,XXX are a those. are department we XX% discussed dealing one prostate. are there to X,XXX with tier The about times, hospitals As urology of the them of hospitals X,XXX in several about US having

XXX the considered XXX centers centers country for management cancer. of the about So are to reference in prostate it's that or hospitals academic

know, you As One and had additional we XX Focal a terms. other have about we few

the of saturating one. And one leads of most to and tier that potential current we that, So as the are continuing from increase of our said, that we're tier on category I a hospitals. have far within in pipeline lot

of you we lives it sales. adoption the to ultimately, So And there. hospitals. covered lot including and as those we the have two be still in again, when And further have, convert coverage extend into we say, we leads tier then the a more to technology will the the easier expand start

So in we and potential way still have great that. of front a long

Swayampakula Ramakanth

terms key of you as now Great, great. you know like becoming increase the adoption. in the the is it trying to coverage And know, stated, you looks

know, that up towards have, working and a consultancies been you obviously you've while this with So now. for end, you picked

road to centers and to procedural does the the increase - next have code complete talking, now rate? you CPT of How to organization or the figure trying are to these more are folks help time bit still the and now? out, are some you an - getting know, into how trying steps, potential So highlight these the the in help the procedure get reimbursement about far some reimbursement to what we a to they that us figure their last through help use because And of to that were that of you little paperwork. as increase how also wins, ways were that know, trying volume just these know, out the and just to you code folks you you in this to what are

Marc Oczachowski

bit basically I So what today. that's said before little a

their CMS need that's to was in policy. are to that's by more First, Medicare next steps we private Max from in patient on getting more side. - And it HIFU policies more getting the getting the lives and insurance, as including covered LCDs the and

hotline recruit know, challenge I claim properly. just said, So that's intensive have And it's them increasing of it you proper you and and explained covering they have a new incremental have our an centers fast a help can and these code, when we few claim all technology, we get that are notification to and minutes next doing What actions are part the like reimbursement. can in always these ago, the on a on the new technology coverage, get always to in big is explaining And payers some so of that we that created you the when putting the that's reference have place now the done basis. support. support are in they user way their it's and a need what way we've even milestones getting support them of to

of are know, these we will again, concluded that's the sales, clinical and will increase equipment. all of further, but generate before, we our now financing, all initiatives so to I said here. we number on sales and initiatives. we that more that number users more part leads, of marketing will So It's the volume performed the have our and help current increase what treatments you procedures and about future that also And

Swayampakula Ramakanth

taking Thanks questions. Thanks. my for

Marc Oczachowski

RK. you, Thank

Operator

the floor Thank time, for like you. any management back over comments. I to would or At this turn closing additional to

Marc Oczachowski

you, today. us Thank you, everyone thank and joining for operator

second good very for a forward We happy will the and you of our day. summer. Thank call earnings in on call be on programs you update have you Y'all much. the all we'll and we as initiatives to move have quarter

Operator

gentlemen, your Ladies thank and participation. you for

day. You may a disconnect your time at lines have and wonderful this