Profound Medical Corp., through its subsidiaries, is a commercial-stage medical technology firm specializing in the development of magnetic resonance (MR)-guided ablation solutions. ...
Profound Medical Corp. (NASDAQ: PROF) is a medical technology company focused on interventional MRI (iMRI) and incision-free thermal therapies. Based in Mississauga, Ontario, the company commercializes solutions that combine real-time magnetic resonance imaging with thermal ultrasound delivery and closed-loop temperature feedback to improve targeting and procedure control. Business and operating ...Profound Medical Corp. (NASDAQ: PROF) is a medical technology company focused on interventional MRI (iMRI) and incision-free thermal therapies. Based in Mississauga, Ontario, the company commercializes solutions that combine real-time magnetic resonance imaging with thermal ultrasound delivery and closed-loop temperature feedback to improve targeting and procedure control.
Business and operating model: Profound Medical markets its therapies through a medical-device commercialization approach. The company’s solutions are designed for use within clinical environments (hospitals and treatment centers) and are supported by systems and procedure-based workflows rather than purely pharmaceutical products. The company reports international commercialization activity across Canada, Germany, the United States, and Finland.
Core products and services: The flagship product is the TULSA-PRO system, an MRI-compatible platform intended for use with MRI scanners to guide ablation therapies. It is positioned for treatment of prostate conditions including prostate cancer and benign prostatic hyperplasia (BPH). In addition to prostate-focused offerings, Profound Medical provides Sonalleve, a therapeutic platform aimed at uterine fibroids, including pathways that can be non-invasive, and offers palliative pain relief associated with bone metastases.
Technology differentiation: The company’s differentiation centers on integrating imaging and therapy with real-time guidance and feedback control. By using MR imaging to monitor and guide thermal ultrasound ablation, the approach is intended to enhance precision and potentially reduce the need for incisions compared with conventional surgical or less-image-guided options.
Scale and financial signals (high-level): The company is in a commercial-stage phase but, based on provided TTM metrics, profitability has been pressured, with negative operating and net margins reported (e.g., operating profit margin and net profit margin reported as negative on a trailing basis). Cash-flow and free-cash-flow-related metrics also appear negative on a trailing basis, consistent with technology companies that invest in commercialization, clinical evidence, and platform growth.
Key people: Dr. Arun Swarup Menawat serves as Chairman and CEO. The company’s formation dates to 2008 (incorporation/amalgamation history referenced in public filings), and its leadership and board are actively associated with commercialization and platform development.
Cost/BOM considerations: Specific bill-of-materials (BOM), manufacturing cost structure, or unit economics are not provided in the supplied data; therefore, these are not asserted here. In general for MR-guided therapy systems, cost drivers typically include imaging/therapy components, control systems, calibration/quality systems, and service/support infrastructure.
Outlook and “wishes” (qualitative, not speculative): Investors and stakeholders typically look for continued procedure adoption, expansion of clinical and payer acceptance, sustained progress in recurring service or consumables tied to installed base, and improvement in margins as volume and service revenues scale.
Operator: Good day, and thank you for standing by. Welcome to ProFound Medical's Second Quarter 26 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Stephen Kilmer, Investor Relations.
Stephen Kilmer: Thank you. Good afternoon, everyone. Let me start by pointing out that this conference call will include forward looking statements within the meaning of applicable securities laws in The United States and Canada. All forward looking statements are based on ProFound's current beliefs, assumptions and expectations, and relate to, among other things, any expressed or implied statements or guidance regarding current or future financial performance, and position and expectations regarding the efficacy of ProFound's technology. Such statements involve known and unknown risks and uncertainties. And other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. No forward looking statement can be guaranteed. Listeners are cautioned not to place undue reliance on these forward looking statements. Which speak only as of the date of this conference call. ProFound undertakes no obligation to publicly update or revise any forward looking statement whether as a result of new information, future events or otherwise, other than as required by law. Representing the company today are Arun Swarup Menawat, Co-Founder's Chief Executive Officer and Chairman Doctor. Mathieu Burtnyk, Profound's President and Tom Tamberrino, our Chief Commercial Officer. Also filling in for our CFO, Rashed due to a scheduling issue is our Corporate Controller, Matthew Sobczyk. With that said, I will now turn the call over to Arun.
Arun Swarup Menawat: Good afternoon, everyone. And welcome to the second quarter 26 Conference Call. On behalf of the management team, and everyone at ProFound, I would like to thank you for your ongoing interest in our company. For those of you who are shareholders, we appreciate your continued interest and support.
Matthew Sobczyk: I will turn the call over to Mathieu in a moment to provide clinical updates. However, before I do, I would like to provide a brief summary of our second quarter 26 financial results. All of the numbers I will refer to have been rounded. So they are approximate. For the 3 month period ended June 30, 2026, the company recorded revenue of $2.5 million with $1.6 million from recurring revenue and $871 thousand from capital equipment sales. Second quarter 26 revenue was up 12% from $2.2 million for the same 3 …