Profound Medical Corp (NASDAQ: PROF, TSX: PRN) is a medical device company that develops and commercializes MRI-guided thermal ablation systems for prostate cancer and other soft-tissue conditions. Revenue is generated through the sale of capital equipment and single-use disposable catheters, specifically the TULSA-PRO system, which uses transurethral ultrasound ablation under real-time MRI guidance to destroy prostate tissue. The TULSA-PRO catheter is a one-time-use device, creating a recurring consumable revenue stream tied to each procedure performed. The company also develops MR-HIFU (magnetic resonance-guided high-intensity focused ultrasound) technology for bone metastasis pain palliation and osteoid osteoma treatment. Products are sold through a direct sales force and, in select markets, through distribution partners. As of March 5, 2026, Profound had 36,293,640 common shares outstanding and raised $57,211 thousand in net equity proceeds during FY2024. The company is headquartered in Canada with additional office space in Vantaa, Finland.

Revenue model

Transactional revenue from capital equipment sales of the TULSA-PRO system combined with recurring single-use disposable catheter sales generated per procedure. A portion of revenue flows through distribution partners in markets without a direct sales presence.

Products and services

TULSA-PRO: MRI-guided transurethral ultrasound ablation system for prostate cancer and benign prostatic hyperplasia, including a Thermal Boost module for targeting aggressive cancer regions. MR-HIFU systems for bone metastasis pain palliation and osteoid osteoma treatment. The TULSA-PRO transurethral catheter is a single-use disposable device used in each procedure.

Customers and end markets

Hospitals, ambulatory surgery centers (ASCs), and outpatient-based labs treating prostate cancer and BPH. End markets include urologic oncology and palliative oncology. Medicare established a national average facility payment of $13,479 for hospital outpatient and $10,874 for ASC settings under CPT 55882 for 2026.

Value-chain role

Medical device manufacturer and direct commercial-stage seller of capital equipment and single-use consumables. Sells primarily through a direct sales force with distribution partners used in select international markets.

Geographic exposure

Primary operations in Canada and the United States. Additional office presence in Vantaa, Finland (lease expiring December 2026). Listed on both NASDAQ Capital Market and Toronto Stock Exchange under symbols PROF and PRN, respectively.

Source: SEC 10-K, filed 2026-03-05

Industry: Surgical & Medical Instruments & Apparatus