Quarterly ResultMay 7, 2026, 04:22 PM
Profound Medical Q1 Revenue +104% to $5.3M; Humana Covers TULSA Procedure
AI Summary
Profound Medical Corp. reported strong first-quarter 2026 financial results, with revenue increasing 104% year-over-year to $5.3 million and a 34% improvement in net loss to $7.0 million. The company also announced that Humana has become the first national payor in the U.S. to cover the TULSA Procedure, adding approximately 8.5 million covered lives. Profound issued full-year 2026 revenue guidance of approximately $25 million, representing 56% growth.
Key Highlights
- Q1 2026 revenue increased 104% year-over-year to $5.3 million.
- Net loss improved 34% to $7.0 million, or $0.19 per common share.
- Gross margin for Q1 2026 was 72%, up from 71% in the prior year period.
- Operating expenses decreased 9% to $11.8 million.
- Humana became the first national payor to cover the TULSA Procedure, adding 8.5 million covered lives.
- TULSA-PRO installed base reached 80 systems, with 6 additional systems shipped.
- Full-year 2026 revenue guidance is approximately $25 million, representing 56% growth.
- Cash position was approximately $50.3 million as of March 31, 2026.