The significant revenue growth, expanding installed base, and strong cash position position Profound for potential commercial acceleration in 2026. Upcoming catalysts include the presentation of CAPTAIN trial clinical outcomes at the EAU Congress, which could drive further adoption. Monitor the gross margin trajectory as the company scales and the pace of TULSA-PRO installations throughout 2026.
Price Chart
Executive Summary
Profound Medical reported strong Q4 and full-year 2025 results with 43% YoY revenue growth to $6.0 million and full-year revenue of $16.1 million. The company strengthened its balance sheet with $42.5 million in equity financing, expanded its TULSA-PRO installed base to 78 systems, and expects to reach 120 installs by end of 2026. Despite record revenue, net losses widened to $8.2 million in Q4 and $42.6 million for the year.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $6.0 million (43% YoY growth)
- Full-year 2025 revenue: $16.1 million (up from $10.7 million in 2024)
- TULSA-PRO installed base: 78 systems as of December 31, 2025
- Company expects to reach approximately 120 TULSA-PRO installs by end of 2026
- Raised $42.5 million in equity financing in December 2025 ($36M US offering, $6.45M Canadian private placement)
- Cash balance: $59.7 million as of December 31, 2025
- Q4 2025 gross margin: 67% (down from 71% YoY due to product mix and introductory pricing)
- Full-year 2025 gross margin: 71% (up from 66% in 2024)
- Appointed Frank Baylis to Board of Directors
Financial Impact
Revenue grew from $10.7M in 2024 to $16.1M in 2025 (50.5% increase), while net loss increased from $27.8M to $42.6M. Company raised $42.5M in equity financing.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Recurring - non-capital | $9.7M | +18.1% |
| Capital equipment | $6.4M | +161.0% |
Risk Factors
- Continuing net losses despite revenue growth
- Gross margin pressure in Q4 2025 due to product mix and introductory pricing in new markets
- Execution risk in scaling commercial operations and achieving the target of 120 installs by end of 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-001362 |
| Document: f8k_030526.htm | 0001171843-26-001362 |
| Document: 0001171843-26-001362-index-headers.html | 0001171843-26-001362 |
| Document: 0001171843-26-001362-index.html | 0001171843-26-001362 |
| Document: 0001171843-26-001362.txt | 0001171843-26-001362 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 4, 2026 28d ago | 8-K | $6.89 $5.81 | ▼ −15.67% | ▼ −14.47% | $5.85 (−15.09%) |
Sep 3, 2026 29d ago | 8-K | $6.80 $5.97 | ▼ −12.21% | ▼ −11.06% | $5.85 (−13.97%) |
Aug 17, 2026 6w ago | 8-K | $6.55 $6.80 | ▲ +3.82% | ▲ +5.01% | $5.85 (−10.69%) |
Aug 17, 2026 6w ago | 8-K | $6.55 $6.80 | ▲ +3.82% | ▲ +5.01% | $5.85 (−10.69%) |
Jul 24, 2026 10w ago | 8-K | $7.26 $7.25 | ▼ −0.14% | ▼ −0.51% | $5.85 (−19.42%) |
Jul 15, 2026 11w ago | 8-K | $6.96 $6.99 | ▲ +0.43% | ▲ +1.41% | $5.85 (−15.95%) |
May 14, 2026 20w ago | 8-K | $6.97 $6.83 | ▼ −2.01% | ▼ −2.97% | $5.85 (−16.07%) |
May 12, 2026 20w ago | S-3 | $7.10 $6.73 | ▼ −5.21% | ▼ −4.05% | $5.85 (−17.61%) |
Apr 16, 2026 24w ago | 8-K | $6.62 $6.75 | ▲ +1.96% | ▲ +0.98% | $5.85 (−11.63%) |
Apr 14, 2026 24w ago | 8-K | $6.26 $6.84 | ▲ +9.27% | ▲ +7.87% | $5.85 (−6.55%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access