| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 2.48 | 53.6% | 25.3% |
| Total Income | 2.48 | 53.6% | 25.3% |
| Expenditure | 13.55 | 1.4% | 14.2% |
| PBT | -9.49 | 35.0% | 39.3% |
| Net Profit | -9.54 | 35.3% | 39.2% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.26 | 236.8% | 150.0% |
Profound Medical Reports Q2 2026 Financial Results
07 Aug 2026 · 7 Aug, 2:03 am
Summary
Profound Medical announced its second quarter 2026 financial results, reporting revenue of approximately $2.5 million, up 12% year-over-year. The company noted that excluding a shipment timing issue, revenue growth would have been 153%. Gross margin improved to 78%, while operating expenses decreased by 16% year-over-year, leading to a 39% improvement in net loss to $9.5 million. Profound reiterated its full-year 2026 revenue guidance of $25.0 million and highlighted significant commercial and reimbursement momentum.
Key Highlights
- 1
Profound Medical reported second quarter 2026 revenue of approximately $2.5 million, a 12% increase year-over-year.
- 2
Excluding a $3.1 million shipment timing difference, second quarter revenue would have been approximately $5.6 million, representing 153% year-over-year growth.
- 3
Gross margin expanded to 78% in Q2-2026 from 73% in the prior-year period.
- 4
Operating expenses declined 16% year-over-year to approximately $13.0 million.
- 5
Second quarter 2026 net loss was approximately $9.5 million, or $0.26 per common share, a 39% improvement from the prior year.
- 6
The company reiterates its full-year 2026 revenue guidance of approximately $25.0 million.
- 7
Profound announced that Johns Hopkins Employee Health Plan and Prime Healthcare Employee Health Plan are the first employer-owned health plans to list the TULSA Procedure as a covered service.
Management Comments
Arun Menawat
Commercial momentum continued to accelerate during the second quarter. We received over $7.0 million in new purchase orders, a new quarterly record. Approximately $2.5 million of those orders were recognized as revenue during the quarter, while approximately $3.1 million was shipped in July and will be recognized in the third quarter. The shipment timing reflected a temporary logistics issue—not customer demand—and, absent the timing difference, second quarter revenue would have increased approximately 153% year-over-year. The logistics issue has since been resolved. Beyond top-line growth, our business model continued to demonstrate meaningful operating leverage. Gross margin remained above our long-term target of 70%, operating expenses declined 16%, and net loss improved by 39% year-over-year. Momentum has continued into the third quarter, including another monthly record for new order activity in July and exceptional physician engagement at SRS2026 that generated more than 160 qualified commercial opportunities over just four days. Based on continued payer coverage expansion, growing clinical validation, and a strengthening sales pipeline, we believe we are now in the strongest commercial position in the Company's history. Based on this momentum and our improved visibility into the second half of the year, we are reiterating the $25.0 million bar we previously set for 2026 total revenue.
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