Quarterly ResultMay 7, 2026, 04:41 PM
Profound Medical Q1 Revenue +104% to $5.34M; Net Loss Narrows by 34%
AI Summary
Profound Medical Corp. reported a significant improvement in its financial performance for the first quarter ended March 31, 2026. The company's revenue more than doubled, increasing by 104% to $5.337 million, driven by higher recurring and capital sales in the United States and overseas. Concurrently, the net loss for the period narrowed by 34% to $7.053 million, and the basic and diluted loss per share improved by 47% to $0.19. Operating expenses also saw a reduction, contributing to the improved profitability.
Key Highlights
- Q1 2026 revenue increased by 104% to $5.337 million from $2.621 million in Q1 2025.
- Net loss for Q1 2026 narrowed by 34% to $7.053 million, down from $10.724 million in Q1 2025.
- Basic and diluted net loss per common share improved by 47% to $0.19 from $0.36.
- Gross profit rose by 107% to $3.832 million, up from $1.853 million in the prior year.
- Operating expenses decreased by 9% to $11.853 million compared to $13.019 million.
- Cash at March 31, 2026, was $50.295 million, down from $59.723 million at December 31, 2025.
- Q1 2026 revenue from Canada was $3.571 million, and from USA was $1.616 million.
Price Impact
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