Revenue growth and expanding installed base are positive, but profitability remains distant. Watch for CAPTAIN trial data at EAU Congress (March 13) as a key catalyst. The stock may react positively to clinical validation, but sustained execution and margin improvement will be needed for long-term upside.
Price Chart
Executive Summary
Profound Medical reported record Q4 and full-year 2025 results, with Q4 revenue up 43% YoY to $6.0 million, driven by strong capital equipment sales and recurring revenue. The company strengthened its balance sheet with a $42.45 million equity raise, expanded globally through new distribution deals, and launched AI-enhanced TULSA-AI for BPH. Despite revenue growth, net losses widened to $8.2M in Q4 and $42.6M for the year due to rising operating expenses.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $6.0 million, up 43% YoY ($4.2M in Q4 2024)
- Full-year 2025 revenue: $16.1 million vs. $10.7 million in 2024
- Gross margin: 67% in Q4 2025 (down from 71% YoY), 71% for full-year 2025 (up from 66%)
- Net loss: $8.2 million in Q4 2025 vs. $4.9 million in Q4 2024; $42.6 million for FY2025 vs. $27.8 million in FY2024
- Cash balance: $59.7 million as of Dec 31, 2025, after $36.0M US registered direct and $6.45M Canadian private placement
- TULSA-PRO installed base: 78 systems as of Dec 31, 2025; guidance for ~120 by end of 2026
- Launched TULSA-AI Volume Reduction module for BPH, aiming to triple total addressable market to ~600,000 patients annually
- Frank Baylis appointed to Board; successor to Kris Shah
Financial Impact
Revenue grew 50.5% in 2025 to $16.1M, but net loss increased by $14.8M. Operating expenses rose 31% to $52.6M. Positive cash flow from financing ($41.1M) offset operating cash burn ($38.2M).
Risk Factors
- Widening net losses despite revenue growth indicate high cost structure
- Dependence on capital equipment sales creates revenue volatility
- Future profitability hinges on scaling recurring revenue and controlling OpEx
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3250672 |
Track record builds as more directional reports settle.
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| Type | Now | ||||
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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
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