Profound Medical Reports 104% Q1 Revenue Growth, Humana Covers TULSA Procedure
Profound Medical delivered $5.3 million in Q1 revenue, a 104% increase year-over-year, with $2.5 million from recurring non-capital items and $2.9 million from system sales. The company’s installed TULSA-PRO base rose to 80 units as Humana began coverage for the TULSA Procedure, expanding payer access by 6.9 million lives.
1. Q1 Financial Performance
Profound Medical recorded $5.3 million in revenue for Q1 2026, up 104% from $2.6 million a year earlier, driven by $2.5 million in recurring non-capital sales and $2.9 million from capital equipment.
2. Installed Base and Utilization
The company’s TULSA-PRO installed base reached 80 units at the end of March 2026, with six additional systems shipped awaiting installation; TULSA INDEX20 sites averaged 11.3 procedures in Q1, reflecting 10% sequential growth and 59% year-over-year gain.
3. Clinical Trial and Payer Coverage
Profound announced superior primary safety results from the Level 1 CAPTAIN randomized trial comparing the TULSA Procedure to robotic radical prostatectomy, and secured Humana coverage, adding 6.9 million covered lives to its payer mix.
4. Guidance and Outlook
Management set a full-year 2026 revenue target they deem reasonable, highlighting strong gross margins, lower operating expenses and future growth from expanded payer coverage and upcoming clinical readouts.