Profound(US:PROF) Globenewswireยท2025-05-08 20:05Core Insights - Profound Medical Corp. reported a significant revenue growth of 82% in Q1 2025 compared to Q1 2024, reaching approximately $2.6 million [5][6] - The company continues to expand its market presence with its TULSA technology, which is positioned uniquely in the prostate disease treatment market [3][4] - Gross margin improved to 71% in Q1 2025, up from 60% in the same period last year, attributed to higher manufacturing efficiency [7] Business Highlights - The revenue growth trajectory aligns with internal expectations, and the AUA 2025 meeting was successful for the company [3] - TULSA's economic proposition is enhanced by new Urology APC Level 7 codes, which offer higher reimbursement rates compared to competitors [3] - The company plans to roll out the TULSA-AI module for benign prostatic hyperplasia (BPH) and the TULSA+ total interventional-MRI solution in the second half of 2025 [3] Financial Performance - Q1 2025 revenue was approximately $2.6 million, with $1.8 million from recurring non-capital revenue and $820,000 from one-time capital equipment sales [6] - Operating expenses increased to approximately $13.0 million in Q1 2025, up from $8.7 million in the prior year, primarily due to expansion efforts [8] - The net loss for Q1 2025 was approximately $10.7 million, or $0.36 per share, compared to a net loss of $6.6 million, or $0.27 per share, in Q1 2024 [9] Market and Product Development - The TULSA-PRO technology is designed for a wide range of prostate disease treatments, emphasizing its precision and effectiveness [14] - Initial perioperative data from the CAPTAIN randomized trial showed TULSA's advantages over robotic radical prostatectomy, including no blood loss and quicker recovery [4][5] - Profound is also exploring additional markets for its Sonalleve platform, which is approved for treating uterine fibroids and palliative pain [15]