Profound Medical Corp. PROF
We are a commercial-stage medical device company focused on the development and marketing of AI-powered, MRI-guided, incision-free therapies for the ablation of diseased tissue utilizing our platform technologies. Our lead product, the TULSA-PRO system, combines real-time MRI, robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to ablate whole gland or physician defined region of malignant or benign prostate tissue. The TULSA-PRO system has been shown in clinical and commercial settings to be an effective tool for physicians who are treating prostate diseases including cancer and other conditions such as benign prostatic hyperplasia ("BPH").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.1M | $10.7M | $5.9M | $6.7M | $6.9M | $7.3M | $4.2M | — |
| Cost of revenue | $4.7M | $3.6M | $2.9M | — | — | — | — | — |
| Gross profit | $11.4M | $7.0M | $4.3M | — | — | — | — | — |
| R&D | $20.6M | $17.0M | $14.4M | — | — | — | — | — |
| SG&A | $32.1M | $23.1M | $18.5M | — | — | — | — | — |
| Total operating expenses | $52.6M | $40.1M | $33.0M | — | — | — | — | — |
| Operating income | -$41.3M | -$33.1M | -$28.7M | -$32.1M | -$30.3M | -$18.9M | -$14.9M | — |
| Pre-tax income | -$42.3M | -$27.8M | -$28.5M | — | — | — | — | — |
| Income tax | $252.0K | $2.0K | $128.0K | — | — | — | — | — |
| Net income | -$42.6M | -$27.8M | -$28.3M | -$28.7M | -$30.7M | -$21.6M | -$15.2M | — |
| EPS, basic | 1.41 | 1.12 | 1.34 | — | — | — | — | — |
| EPS, diluted | 1.41 | 1.12 | 1.34 | — | — | — | — | — |
| Shares, diluted (wtd. avg.) | 30.2M | 24.8M | 21.2M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $59.7M | $54.9M | $26.2M | $46.5M | — | — | — | — |
| Inventory | $8.2M | $5.8M | $7.0M | — | — | — | — | — |
| Total current assets | $76.1M | $69.1M | $41.9M | — | — | — | — | — |
| Property, plant and equipment | $698.0K | $425.0K | $909.0K | — | — | — | — | — |
| Other intangibles | $138.0K | $261.0K | $490.0K | — | — | — | — | — |
| Total assets | $77.5M | $70.2M | $44.0M | $64.4M | $86.8M | $104.6M | $30.1M | $34.1M |
| Accounts payable | $1.6M | $1.3M | $865.0K | — | — | — | — | — |
| Short-term debt | — | $1.7M | $2.1M | — | — | — | — | — |
| Total current liabilities | $6.1M | $6.6M | $6.4M | — | — | — | — | — |
| Long-term debt | $4.5M | $2.9M | $7.1M | $7.2M | — | — | — | — |
| Total liabilities | $11.0M | $9.8M | $12.7M | — | — | — | — | — |
| Retained earnings | -$287.7M | -$245.2M | -$217.4M | — | — | — | — | — |
| Total equity | $66.4M | $60.4M | $31.2M | $52.6M | $80.6M | $97.3M | $14.4M | $19.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$38.2M | -$23.5M | -$22.6M | — | — | — | — | — |
| Depreciation and amortisation | $373.0K | $707.0K | $727.0K | — | — | — | — | — |
| Stock-based compensation | $5.5M | $2.6M | $3.4M | — | — | — | — | — |
| Capital expenditure | $176.0K | — | — | — | — | — | — | — |
| Investing cash flow | -$242.0K | — | — | — | — | — | — | — |
| Financing cash flow | $41.1M | $54.7M | $1.8M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-024153.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $4.2M | $7.3M | $6.9M | $6.7M | $5.9M | $10.7M | $16.1M |
| Gross profit | — | — | — | — | — | $4.3M | $7.0M | $11.4M |
| Net income | — | -$15.2M | -$21.6M | -$30.7M | -$28.7M | -$28.3M | -$27.8M | -$42.6M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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