Profound Medical Corp (PROF) Q2 2024 Earnings Call Highlights: Strong Revenue Growth Amidst ...

GuruFocus.com10-10

Revenue: $2.23 million for Q2 2024, a 39% increase from $1.6 million in Q2 2023. Recurring Revenue: $1.46 million from recurring sources. Capital Equipment Sales: $773,000 from one-time sales. Gross ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2474280783?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/TgD_HllEC3pSS7RsJHteAg--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/bafa768b73dde63928fb11256f26d921","is_english":true,"pubTime":"2024-10-10 05:58","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2474280783","market":"us","top_or_hot":-1,"title":"Profound Medical Corp (PROF) Q2 2024 Earnings Call Highlights: Strong Revenue Growth Amidst ...","media":"GuruFocus.com","content":"<div>\n<p>Revenue: $2.23 million for Q2 2024, a 39% increase from $1.6 million in Q2 2023.\nRecurring Revenue: $1.46 million from recurring sources.\nCapital Equipment Sales: $773,000 from one-time sales.\nGross ...</p>\n\n<a href=\"https://finance.yahoo.com/news/profound-medical-corp-prof-q2-215802251.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Profound Medical Corp (PROF) Q2 2024 Earnings Call Highlights: Strong Revenue Growth Amidst ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProfound Medical Corp (PROF) Q2 2024 Earnings Call Highlights: Strong Revenue Growth Amidst ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 05:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/profound-medical-corp-prof-q2-215802251.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $2.23 million for Q2 2024, a 39% increase from $1.6 million in Q2 2023.\nRecurring Revenue: $1.46 million from recurring sources.\nCapital Equipment Sales: $773,000 from one-time sales.\nGross ...</p>\n\n<a href=\"https://finance.yahoo.com/news/profound-medical-corp-prof-q2-215802251.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PROF","symbol_name":"Profound Medical Corp.","start_time":0,"source_url":"https://finance.yahoo.com/news/profound-medical-corp-prof-q2-215802251.html","article_id":"2474280783","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/TgD_HllEC3pSS7RsJHteAg--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/bafa768b73dde63928fb11256f26d921"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474280783","pubTimestamp":1728511082,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: $2.23 million for Q2 2024, a 39% increase from $1.6 million in Q2 2023.Gross Margin: 64% in Q2 2024, compared to 66% in Q2 2023.Operating Expenses: $9.3 million in Q2 2024, up 24% from $7.5 million in Q2 2023.R&D Expenses: Increased 33% to $4.2 million year-over-year.G&A Expenses: Increased by 1% to $2.1 million.Sales and Distribution Expenses: Increased by 32% to $3 million.Net Finance Income: $934,000 in Q2 2024, compared to a net finance expense of $884,000 in Q2 2023.Net Loss: $6.9 million, or $0.28 per share, down from $7.3 million, or $0.35 per share, in Q2 2023.Cash Position: $34.1 million as of June 30, 2024.For the complete transcript of the earnings call, please refer to the full earnings call transcript.Profound Medical Corp  reported a 39% increase in revenue for Q2 2024 compared to the same period in 2023, indicating strong financial growth.Profound Medical Corp  recorded a net loss of $6.9 million for Q2 2024, although this was a slight improvement from the previ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PROF":"Profound Medical Corp."},"translate_title":"Profound Medical Corp(PROF)2024年第二季度收益看涨期权亮点：收入强劲增长...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PROF":1},"content_text":"Revenue: $2.23 million for Q2 2024, a 39% increase from $1.6 million in Q2 2023.\nRecurring Revenue: $1.46 million from recurring sources.\nCapital Equipment Sales: $773,000 from one-time sales.\nGross Margin: 64% in Q2 2024, compared to 66% in Q2 2023.\nOperating Expenses: $9.3 million in Q2 2024, up 24% from $7.5 million in Q2 2023.\nR&D Expenses: Increased 33% to $4.2 million year-over-year.\nG&A Expenses: Increased by 1% to $2.1 million.\nSales and Distribution Expenses: Increased by 32% to $3 million.\nNet Finance Income: $934,000 in Q2 2024, compared to a net finance expense of $884,000 in Q2 2023.\nNet Loss: $6.9 million, or $0.28 per share, down from $7.3 million, or $0.35 per share, in Q2 2023.\nCash Position: $34.1 million as of June 30, 2024.\n\n\nWarning! GuruFocus has detected 2 Warning Signs with PROF.\n\nRelease Date: August 08, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nProfound Medical Corp (NASDAQ:PROF) reported a 39% increase in revenue for Q2 2024 compared to the same period in 2023, indicating strong financial growth.\nThe company anticipates full-year 2024 revenue to be in the range of $11 million to $12 million, showing confidence in continued revenue growth.\nThe TULSA procedure has been approved for use in all locations of service, providing broad access and flexibility for both patients and physicians.\nThe introduction of the TULSA-AI module has improved treatment planning accuracy and efficiency, receiving positive feedback from physicians.\nProfound Medical Corp (NASDAQ:PROF) is forming closer relationships with major MRI companies, which could enhance the integration and adoption of their technology in prostate care.\n\n Negative Points \n\nProfound Medical Corp (NASDAQ:PROF) recorded a net loss of $6.9 million for Q2 2024, although this was a slight improvement from the previous year's loss.\nGross margin decreased slightly to 64% in Q2 2024 from 66% in Q2 2023, indicating some pressure on profitability.\nOperating expenses increased by 24% year-over-year, driven by higher R&D and sales and distribution costs, which could impact future profitability.\nThe company faces challenges in transitioning from a cash pay model to a reimbursement model, which may affect short-term financial performance.\nThere is uncertainty regarding the finalization of new CPT codes and reimbursement rates, which could impact future revenue and adoption rates.\n\n Q & A Highlights \nQ: What kind of reaction are you getting from the physician community regarding the proposed reimbursement changes? A: Arun Menawat, CEO, explained that the physician community appreciates the flexibility of performing TULSA in various settings, such as imaging centers or physician offices. The economic benefits of TULSA, including potential profitability, are being well-received, and discussions are ongoing even before the final rule is issued.\nQ: How is Profound Medical preparing for the new reimbursement environment? A: Arun Menawat, CEO, stated that the company is methodically engaging with physicians and re-engaging with their pipeline. They are considering adding more salespeople and are preparing to justify the adoption of new devices based on 2025 projections.\nQ: Can you provide more details on the relationships with MRI companies and their reaction to the proposed reimbursement? A: Arun Menawat, CEO, mentioned that MRI companies see the reimbursement as a positive step, enhancing the justification for an MR-centric prostate care strategy. This includes diagnosis, biopsy, and treatment, which aligns with the interests of ASCs and LUGPAs in owning MRs.\nQ: How does the TULSA-AI module impact procedure efficiency and adoption? A: Arun Menawat, CEO, noted that the TULSA-AI module is well-received, improving treatment design smoothness and saving time. It allows for more procedures per day, potentially increasing from two to three or three to four, enhancing both workflow and profitability.\nQ: What is the current utilization rate of TULSA systems, and how do you see it evolving with reimbursement? A: Arun Menawat, CEO, reported that about 25% of sites are performing three to four procedures per day. With full AI implementation, they expect an increase in procedures per day, providing a 20% time advantage over radical prostatectomy.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474280783"}