Canada's Profound Medical Q3 revenue slightly misses estimates
PROF•Profound Medical's third-quarter revenue rose 86% year over year to $9.8 million, slightly below the $9.87 million consensus estimate. The company projects 2026 revenue of at least $25 million and gross margin of 70% or higher.
1. Quarterly results
Profound Medical reported third-quarter revenue of $9.8 million, up 86% year over year and slightly below the $9.87 million consensus estimate. Gross margin increased to 78% from 74% a year earlier. The company reported a net loss of $7.7 million, or $0.21 per share, and operating expenses of $15.5 million.
2. 2026 outlook
The company expects 2026 revenue of at least $25 million and gross margin of 70% or higher. It said cash and revenue are expected to cover operating needs for at least 12 months. Profound said higher capital equipment sales and recurring revenue from single-use devices and services drove quarterly growth.
