Profound Medical (TSE:PRN) has released an update.
Profound Medical Corp. reported a modest 3% revenue increase in Q1 2024 compared to the same period last year, with total revenue of $1.91 million, and has projected significant growth with a full-year revenue guidance suggesting a 53% to 67% increase. The company, specializing in customizable, incision-free therapies for prostate disease, has seen growth in its TULSA-PRO systems installed base and anticipates new outpatient reimbursement rules for the TULSA procedure in 2025. Despite revenue growth, the company experienced a net loss of $6.2 million for the quarter, while maintaining a strong cash position of $41.2 million.
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