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Profound Medical Announces Fourth Quarter and Full Year 2024 Financial Results
TORONTO, March 06, 2025 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (&#...
About this update from Profound Medical Corp
[{"type":"text","content":"Profound Medical Announces Fourth Quarter and Full Year 2024 Financial Results\n\n\n\n TORONTO, March 06, 2025 (GLOBE NEWSWIRE) --\n \n Profound Medical Corp.\n \n (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today reported unaudited financial results for the fourth quarter and full year ended December 31, 2024. Unless specified otherwise, all amounts in this press release are expressed in U.S. dollars and are presented in accordance with U.S. generally accepted accounting principles (U.S. GAAP).\n \n\n\n Business Highlights\n \n\n\n\n Q4-2024 revenue growth of 108% over Q4-2023.\n \n\n During the fourth quarter, Profound made two key executive changes to further support growth; Mathieu Burtnyk, PhD, was promoted to President and Tom Tamberrino was appointed as Profound’s new Chief Commercial Officer.\n \n\n Profound also\n \n announced\n \n it had entered into non-exclusive collaboration with Siemens Healthineers designed to further expand physician and patient access to the TULSA procedure.\n \n\n In November 2024, Profound\n \n unveiled\n \n its next TULSA-AI\n \n ®\n \n module, ‘UA Alignment Assistant’, which removes a whole procedural step from TULSA, resulting in less mental charge, fewer steps to remember, and overall procedural simplification for users.\n \n\n Profound continued to see a wide variety of prostate disease patients treated by its TULSA-PRO\n \n ®\n \n customers in the fourth quarter of 2024:\n \n\n 61% were treated for prostate cancer only, 28% were hybrid patients suffering from both prostate cancer and benign prostatic hyperplasia (“BPH”), 10% were salvage, and 1% were men with BPH only;\n \n\n For cancer grade, 12% were GG1, 54% were GG2, 23% were GG3, and 11% were GG4 & GG5;\n \n\n In terms of ablation, 53% were whole gland; 25% were sub-total but more than half the gland; and 22% were hemi-ablations or focal therapy; and\n \n\n For prostate size, 5% were < 20cc;   40% were 20 – 40cc;   35% were 40-60cc; 15% were 60-100cc; and 5% were over 100cc.\n \n\n\n\n The Level 1 CAPTAIN (A Comparison of TULSA Procedure vs. Radical Prostatectomy in Participant...