Profound Med Corp Stock Price, News & Analysis

Profound Medical Corp. (NASDAQ: PROF) reported a strong second quarter for 2021, with revenue of approximately $2.6 million, a 156% increase year-over-year. The growth was driven by a 145% rise in recurring revenues. Despite increased operational expenses totaling $7.6 million, net loss slightly widened to about $7.0 million, or $0.35 per share. The company maintains a solid liquidity position with $73.8 million in cash. CEO Arun Menawat remains optimistic about future performance, despite ongoing COVID-19 challenges in certain markets.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced participation in A.G.P.'s Virtual MedTech Summer Conference on July 29, 2021. The event will feature one-on-one virtual investor meetings, with no webcast available.

Profound specializes in incision-free therapies for diseased tissue, including the TULSA-PRO^® for prostate ablation and Sonalleve^® for uterine fibroids. Both technologies have received various regulatory approvals, enhancing their market potential.

Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) will announce its Q2 2021 financial results on August 4, 2021, after market close. A conference call will follow at 4:30 p.m. ET for management to discuss the results and business developments. Profound is known for its innovative medical devices, including the TULSA-PRO^® for prostate ablation and Sonalleve^® for uterine fibroid treatment. The company has received CE marking and FDA clearance for its technologies, showing strong regulatory support for its offerings.

Profound Medical Corp. (NASDAQ: PROF) announced participation in two investor conferences this June. The Jefferies Virtual Healthcare Conference will feature a fireside chat on June 1, 2021, at 10:00 a.m. ET, while the Raymond James Human Health Innovations Conference is set for June 22, 2021, at the same time. These events will be streamed live on the Company’s website. Profound specializes in customizable, incision-free therapies for ablation, including TULSA-PRO® for prostate treatment and Sonalleve® for uterine fibroids.

Profound Medical Corp. held its Annual Meeting of Shareholders on May 19, 2021, with 58.044% of shares represented. All proposed matters were approved, including the election of seven directors, receiving over 97% support. PricewaterhouseCoopers LLP was appointed as auditors until the next annual meeting. Notably, Rashed Dewan was appointed as Chief Accounting Officer, while Aaron Davidson transitioned to SVP Corporate Development, no longer serving as CFO. Profound specializes in incision-free therapies, notably the TULSA-PRO® and Sonalleve® technologies for prostate and uterine treatments.

Profound Medical Corp. (NASDAQ:PROF) reported its Q1 2021 financial results with revenue of approximately $711,000, a decline of 39% from $1.2 million in Q1 2020. This revenue includes $234,000 from a capital equipment sale and $477,000 from recurring revenue. Total operating expenses rose to $6.8 million, up 28% year-over-year. The net loss was around $7.5 million, or $0.37 per share. Despite early pandemic impacts, the company anticipates potential revenue recovery throughout 2021, with cash reserves at $78.5 million.

Profound Medical Corp. (NASDAQ:PROF) has announced a multi-site imaging center agreement with Akumin Inc. to integrate TULSA-PRO® systems at up to 10 Akumin centers, focusing on men’s health. The partnership aims to enhance prostate care services, particularly in Florida. The first TULSA-PRO® site is expected to be operational in Q4 2021. TULSA-PRO® offers customizable, incision-free treatments for prostate diseases, enhancing patient quality of life.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will release its Q1 2021 financial results on May 12, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. The call will be accessible via telephone and also broadcast live on the Company’s website. Profound Medical specializes in incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies, which are advancing in the medical device market.

Profound Medical Corp. (NASDAQ:PROF) announced on April 14, 2021, that management will present an update on their business at the 2021 Bloom Burton & Co. Virtual Healthcare Investor Conference on April 21, 2021, at 1:30 p.m. ET. The presentation will be available for live streaming and archived on their website in the Investors section. Profound is known for its innovative, incision-free therapies for treating diseased tissue, including TULSA-PRO® for prostate cancer and Sonalleve® for uterine fibroids and pain management.