Canada's Profound Medical Q1 revenue more than doubles, beating estimates

Profound Medical

07/05/2026 21:42

Overview

Canada medical device maker's Q1 revenue rose 104% yr/yr, beating analyst expectations

Q1 net loss narrowed 34% yr/yr to $7.0 mln, with operating expenses down 9%

Company issued 2026 revenue guidance of $25 mln, up 56% yr/yr

Outlook

Company projects full-year 2026 revenue of about $25 mln

Profound expects 2026 gross margin to be 70% or higher

Company sees expanded payer coverage and clinical trial results as growth drivers

Result Drivers

CAPITAL EQUIPMENT SALES - Co said higher Q1 revenue and gross margin were driven by increased sales of capital equipment, which carry higher margins

OPERATING COST REDUCTIONS - Co attributed lower operating expenses to decreases in salaries, sales force, travel, insurance, and clinical trial costs after CAPTAIN trial enrollment completion

RECURRING REVENUE GROWTH - Co reported higher recurring non-capital revenue from sales of one-time use devices and services

Company press release: ID:nGNX72t916

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$5.30 mln
$4.97 mln (3 Analysts)
Q1 EPS
-$0.19
Q1 Net Income
-$7 mln
Q1 Operating Expenses
$11.80 mln


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)