Core Insights - Profound Medical Corp. reported a record revenue of $6.0 million for Q4 2025, reflecting a 43% year-over-year growth and a 13% sequential increase [2][5] - The company anticipates reaching approximately 120 TULSA-PRO installations by the end of 2026, up from 78 as of December 31, 2025, driven by a growing sales pipeline [2] - Profound's technologies, particularly the TULSA Procedure, are gaining traction in treating various prostate diseases, with a significant portion of patients treated for prostate cancer [2][21] Business Highlights - The TULSA-PRO qualified sales pipeline includes 110 new systems in various stages of the sales process [2] - In Q4 2025, 67% of patients treated were for prostate cancer, with a diverse range of cancer grades and treatment intentions [2] - The company launched the TULSA-AI Volume Reduction module, aimed at optimizing BPH treatment, which is expected to triple the total available market for prostate disease to about 600,000 patients annually [3][2] Financial Performance - For the full year 2025, Profound recorded total revenue of approximately $16.1 million, up from $10.7 million in 2024 [10] - The gross margin for Q4 2025 was 67%, down from 71% in the prior year, attributed to product mix and introductory pricing in new markets [6] - The net loss for Q4 2025 was approximately $8.2 million, compared to a net loss of $4.9 million in Q4 2024 [9] Operating Expenses - Total operating expenses for Q4 2025 were approximately $11.4 million, slightly up from $11.3 million in the prior year, primarily due to increased headcount and sales force [8] - For the full year 2025, operating expenses totaled approximately $52.6 million, compared to $40.1 million in 2024, driven by increased enrollment in clinical trials and higher material costs [12] Liquidity and Share Capital - As of December 31, 2025, Profound had cash reserves of approximately $59.7 million [14] - The company completed a $36.0 million registered direct offering and a $6.45 million private placement to strengthen its balance sheet [7] Leadership Changes - Frank Baylis has been appointed to the Board of Directors, succeeding Kris Shah, who resigned [14][18]