Profound Medical Corp.
Business
Profound Medical Corp. develops and markets MRI-guided, incision-free thermal ablation systems for diseased tissue. TULSA-PRO combines real-time MRI, robotically-driven transurethral ultrasound, and temperature feedback to treat prostate cancer and benign hyperplasia. Sonalleve, acquired from Philips, uses focused ultrasound for uterine fibroids, adenomyosis, bone metastases, and other conditions. Both systems are CE marked in the EU and cleared or approved in the United States. The company generates revenue through capital equipment sales and recurring consumables and services.
Summary from 10-K filed 2026-03-05
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Revenue | 16 | 11 | 7 | |
| Cost of sales | 5 | 4 | 3 | |
| Gross profit | 11 | 7 | 4 | |
| Research and development | 21 | 17 | 14 | |
| Selling, general and administrative | 32 | 23 | 19 | |
| Total operating expenses | 53 | 40 | 33 | |
| Operating loss | 41 | 33 | 29 | |
| Net finance (income) expense | −1 | −1 | −775,000 | |
| Net foreign exchange (gain) loss | 2 | −4 | 575,000 | |
| Total other (income) expenses | 1 | −5 | −200,000 | |
| Net loss before income taxes | 42 | 28 | 28 | |
| Income tax expense (note 13) | 231,000 | 144,000 | −187,000 | |
| Deferred tax (recovery) expense (note 13) | 21,000 | −146,000 | 59,000 | |
| Total income tax (recovery) expense | 252,000 | −2,000 | −128,000 | |
| Net loss attributed to shareholders for the year | 43 | 28 | 28 | |
| Foreign currency translation adjustment | −2 | 3 | −644,000 | |
| Net loss and other comprehensive loss for the year | 40 | 31 | 28 | |
| Basic net loss per common share (in dollars per share) | 1.41 | 1.12 | 1.34 | |
| Diluted net loss per common share (in dollars per share) | 1.41 | 1.12 | 1.34 | |
| Basic weighted average common shares outstanding (in shares) | 30 | 25 | 21 | |
| Diluted weighted average common shares outstanding (in shares) | 30 | 25 | 21 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash | 60 | 55 | 26 | — | |
| Trade and other receivables, net (note 3) | 7 | 7 | 7 | — | |
| Inventory (note 4) | 8 | 6 | 7 | — | |
| Prepaid expenses and deposits | 928,000 | 1 | 1 | — | |
| Total current assets | 76 | 69 | 42 | — | |
| Trade and other receivables, net (note 3) | 300,000 | — | — | — | |
| Property and equipment, net (note 5) | 698,000 | 425,000 | 909,000 | — | |
| Intangible assets, net (note 6) | 138,000 | 261,000 | 490,000 | — | |
| Right-of-use assets, net (note 9) | 184,000 | 396,000 | 661,000 | — | |
| Deferred tax assets, net (note 13) | 66,000 | 87,000 | — | — | |
| Total assets | 77 | 70 | 44 | — | |
| Accounts payable | 2 | 1 | 865,000 | — | |
| Accrued expenses and other current liabilities (note 7) | 4 | 3 | 2 | — | |
| Deferred revenue | 445,000 | 419,000 | 721,000 | — | |
| Long-term debt (note 8) | — | 2 | 2 | — | |
| Lease liabilities (note 9) | 213,000 | 257,000 | 259,000 | — | |
| Income tax payable | 39,000 | — | — | — | |
| Total current liabilities | 6 | 7 | 6 | — | |
| Deferred revenue | 388,000 | 49,000 | 728,000 | — | |
| Long-term debt (note 8) | 4 | 3 | 5 | — | |
| Lease liabilities (note 9) | — | 203,000 | 504,000 | — | |
| Other non - current liabilities (note 9) | 79,000 | 71,000 | 73,000 | — | |
| Total liabilities | 11 | 10 | 13 | — | |
| Commitments and contingencies (note 15) | — | — | — | — | |
| Common shares, no par value, unlimited shares authorized, 36,293,640 and 30,039,809 issued and outstanding at December 31, 2025 and 2024, respectively (note 10) | 324 | 282 | 222 | — | |
| Additional paid-in capital | 25 | 21 | 21 | — | |
| Accumulated other comprehensive income | 5 | 3 | 6 | — | |
| Accumulated deficit | −288 | −245 | −217 | — | |
| Total shareholders' equity | 66 | 60 | 31 | 53 | |
| Total liabilities and shareholders' equity | 77 | 70 | 44 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net loss for the year | −43 | −28 | −28 | |
| Depreciation of property and equipment (note 5) | 373,000 | 707,000 | 727,000 | |
| Amortization of intangible assets (note 6) | 187,000 | 229,000 | 202,000 | |
| Non-cash lease expense adjustment | −37,000 | −38,000 | −45,000 | |
| Share-based compensation (note 11) | 5 | 3 | 3 | |
| Interest and accretion expense (note 8) | 63,000 | 600,000 | 727,000 | |
| Change in amortized cost of trade and other receivables | — | −307,000 | 146,000 | |
| Trade and other receivables (note 3) | −172,000 | 186,000 | −956,000 | |
| Inventory (note 4) | −3 | 656,000 | 353,000 | |
| Prepaid expenses and deposits | 464,000 | 31,000 | −158,000 | |
| Accounts payable, accrued expenses and other liabilities (note 7) | 378,000 | 815,000 | 1 | |
| Deferred revenue | 371,000 | −948,000 | 187,000 | |
| Income taxes payable (note 13) | 42,000 | — | −299,000 | |
| Deferred tax liabilities (note 13) | — | −58,000 | 59,000 | |
| Deferred tax assets (note 13) | 26,000 | −91,000 | — | |
| Net cash used in operating activities | −38 | −23 | −23 | |
| Purchase of property and equipment (note 5) | −176,000 | — | — | |
| Purchase of intangible assets (note 6) | −66,000 | — | — | |
| Net cash used in investing activities | −242,000 | — | — | |
| Issuance of commons shares (note 10) | 42 | 62 | — | |
| Payments of financing costs (note 10) | −1 | −5 | — | |
| Repayments of long-term debt (note 8) | −290,000 | −3 | −912,000 | |
| Proceeds from the exercise of stock options (note 11) | 8,000 | 45,000 | 245,000 | |
| Net cash provided by financing activities | 41 | 55 | 2 | |
| Net increase in cash and cash equivalents | 3 | 31 | −21 | |
| Effect of exchange rate changes on cash | 2 | −3 | 549,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Profound Medical Corp.'s CIK number?
Profound Medical Corp.'s SEC CIK number is 0001628808 (1628808). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Profound Medical Corp.'s SEC filings?
All of Profound Medical Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Profound Medical Corp. last report earnings?
Profound Medical Corp. (PROF) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001171843-26-003160). This is Profound Medical Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Profound Medical Corp.'s most recent earnings 8-K?
Profound Medical Corp.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001171843-26-003160. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Profound Medical Corp.'s latest earnings 8-K →
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