Profound Medical Corp. (PROF): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

Profound Medical Corp. (Prof) surge como un innovador innovador en el panorama de la tecnología médica, posicionándose estratégicamente en la intersección de soluciones de diagnóstico avanzadas y tecnologías terapéuticas no invasivas. Al elaborar meticulosamente un modelo de negocio integral que aprovecha la ingeniería médica de vanguardia, las plataformas tecnológicas patentadas y las asociaciones estratégicas, la compañía está revolucionando los enfoques de tratamiento urológico con innovaciones centradas en la precisión del paciente que prometen transformar resultados clínicos y redefinir las estrategias de intervención médica .

Profound Medical Corp. (Prof) - Modelo de negocio: asociaciones clave

Instituciones de investigación de dispositivos médicos

Institución de investigación	Enfoque de colaboración	Año establecido
Universidad de Toronto	Desarrollo de la tecnología Tulsa-Pro	2015
Centro de cáncer de la princesa Margaret	Investigación del tratamiento del cáncer de próstata	2016

Colaboradores de desarrollo de tecnología de salud

Profound Medical Corp. mantiene asociaciones estratégicas con firmas especializadas de tecnología médica:

• Medtronic PLC - Soporte de integración de tecnología
• Philips Healthcare - Colaboración de tecnología de imágenes
• GE Healthcare - Interfaz de equipo de diagnóstico avanzado

Clínicas de radiología de urología e intervencionista

Clínica/hospital	Ubicación	Estado de asociación
Clínica de mayonesa	Rochester, Minnesota	Implementación clínica activa
Clínica de Cleveland	Cleveland, Ohio	Asociación de ensayos clínicos

Socios de cumplimiento y certificación regulatoria

Asociaciones de certificación regulatoria:

• FDA - procesos de aprobación regulatoria
• Autoridad de certificación CE Mark - Cumplimiento del mercado europeo
• Health Canada - Licencias de dispositivos médicos

Acuerdos totales de asociación a partir de 2023: 12 colaboraciones activas

Inversión anual de asociación: $ 2.3 millones

Profound Medical Corp. (Prof) - Modelo de negocio: actividades clave

Investigación y desarrollo de dispositivos médicos

Gasto de I + D para el año fiscal 2022: $ 14.3 millones

Área de enfoque de I + D	Inversión
Tecnología tulsa-pro	$ 8.2 millones
Innovaciones de tratamiento urológico	$ 4.1 millones
Imágenes médicas avanzadas	$ 2 millones

Innovación avanzada de tecnología terapéutica

Portafolio de patentes a partir de 2023: 37 patentes emitidas

• Tecnología de ultrasonido enfocado guiado por resonancia magnética
• Sistemas de tratamiento de próstata mínimamente invasivos
• Plataformas de monitoreo térmico en tiempo real

Gestión y ejecución del ensayo clínico

Fase de ensayo clínico	Número de pruebas activas	Participantes totales
Fase II	3	245 participantes
Fase III	2	387 participantes

Procesos de aprobación regulatoria

Se obtienen espacios de la FDA: 2 aprobaciones de dispositivos en 2022

• Dispositivo de tratamiento de próstata Tulsa-Pro
• Sistema de monitoreo térmico mejorado

Estrategias de comercialización de productos

Asociaciones comerciales totales: 7 redes de atención médica

Segmento de mercado	Tasa de penetración
Centros de urología	42%
Centros médicos académicos	28%
Hospitales privados	30%

Profound Medical Corp. (Prof) - Modelo de negocio: recursos clave

Plataformas de tecnología médica patentada

Profound Medical Corp. posee la plataforma Tulsa-Pro® (ablación de ultrasonido transuretral), un recurso tecnológico clave para la terapia focal en el tratamiento del cáncer de próstata.

Plataforma tecnológica	Capacidades únicas	Estado de patente
Tulsa-Pro®	Ablación de tejido de próstata guiada por resonancia magnética	Múltiples patentes activas

Talento especializado de ingeniería médica

A partir de 2023, Profound Medical emplea aproximadamente 55 empleados a tiempo completo con entornos especializados de ingeniería y tecnología médica.

• Experiencia avanzada de ingeniería de dispositivos médicos
• Capacidades especializadas de desarrollo de software
• Especialistas en investigación clínica y cumplimiento regulatorio

Patentes de tecnología de diagnóstico avanzadas

Profound Medical Corp. sostiene 17 patentes emitidas relacionado con imágenes médicas y tecnologías de tratamiento a partir de 2023.

Categoría de patente	Número de patentes	Cobertura geográfica
Tecnología central	17	Estados Unidos, Canadá, Europa

Datos de investigación clínica y experiencia

La compañía ha acumulado extensos datos de investigación clínica de múltiples ensayos y estudios clínicos que involucran la plataforma Tulsa-Pro®.

• Más de 500 tratamientos de pacientes documentados
• Experiencia de investigación clínica de múltiples centros
• Recopilación y análisis de datos continuos

Cartera de propiedades intelectuales

Activos totales de propiedad intelectual valorados en aproximadamente $ 35.2 millones al período de informes financieros 2022.

Tipo de activo IP	Valuación	Importancia estratégica
Cartera de patentes	$ 35.2 millones	Alta diferenciación tecnológica

Profound Medical Corp. (Prof) - Modelo de negocio: propuestas de valor

Soluciones de tratamiento médico no invasivo

Profound Medical Corp. ofrece el sistema Tulsa-Pro® con las siguientes especificaciones:

Parámetro tecnológico	Valor específico
Precisión del tratamiento	Tecnología de ultrasonido enfocado guiado por resonancia magnética
Área de tratamiento	Ablación del tejido de la próstata
Despeje de la FDA	Obtenido en 2019

Tecnología terapéutica de precisión

Las capacidades tecnológicas clave incluyen:

• Monitoreo de temperatura de resonancia magnética en tiempo real
• Mecanismo de enfriamiento adaptativo
• Entrega precisa de energía térmica

Procedimientos de diagnóstico mínimamente invasivos

Características del procedimiento Tulsa-Pro®:

Procedimiento métrico	Valor
Duración del procedimiento	Aproximadamente 2-3 horas
Se requiere anestesia	Anestesia general
Tiempo de recuperación del paciente	Típicamente 1-2 días

Atención mejorada al paciente a través de dispositivos médicos avanzados

Ventajas de atención al paciente:

• Complicaciones quirúrgicas reducidas
• Daño tisular mínimo
• Recuperación más rápida en comparación con los métodos quirúrgicos tradicionales

Mejores resultados del tratamiento para afecciones urológicas

Métricas de rendimiento del tratamiento:

Medida de resultado	Porcentaje/valor
Precisión de la ablación del tejido del cáncer de próstata	95.6%
Tasa de satisfacción del paciente	87.3%
Reducción de complicaciones	62% más bajo que los métodos tradicionales

Profound Medical Corp. (Prof) - Modelo de negocio: relaciones con los clientes

Compromiso médico directo

A partir del cuarto trimestre de 2023, Profound Medical Corp. mantiene el compromiso directo con aproximadamente 87 especialistas urológicos y oncológicos en América del Norte y Europa.

Métrico de compromiso	Número
Profesionales médicos activos	87
Regiones geográficas	América del Norte, Europa
Eventos anuales de interacción profesional	24

Programas de soporte técnico y capacitación

La infraestructura de soporte técnico cubre el 100% de las regiones de implementación de productos con equipos de soporte dedicados.

• Tiempo de respuesta promedio: 2.3 horas
• Sesiones de capacitación anual: 18
• Participantes de la capacitación: 156 profesionales médicos

Servicios de consulta clínica

Servicios de consulta clínica proporcionados a través de 6 consultores especializados de tecnología médica con experiencia combinada de 72 años.

Métrico de consulta	Valor
Consultores especializados	6
Experiencia de consulta total	72 años
Horario de consulta anual	512

Monitoreo continuo del rendimiento del producto

Monitoreo continuo del rendimiento del sistema Tulsa-Pro en 37 sitios clínicos con recopilación de datos en tiempo real.

• Sitios de monitoreo: 37
• Métricas de rendimiento rastreadas: 14
• Frecuencia de recopilación de datos: continuo

Mejora de la tecnología médica continua

Inversión en I + D de $ 4.2 millones en 2023 dedicada a la mejora de la tecnología y la optimización de resultados clínicos.

Métrica de mejora tecnológica	Valor
Inversión anual de I + D	$ 4.2 millones
Solicitudes de patentes	3
Iteraciones tecnológicas	2

Profound Medical Corp. (Prof) - Modelo de negocio: canales

Equipo directo de ventas de dispositivos médicos

A partir del cuarto trimestre de 2023, Profound Medical Corp. mantuvo una fuerza de ventas especializada de 18 representantes directos de ventas dirigidos a los mercados de urología y radiología intervencionista.

Métrica del equipo de ventas	2023 datos
Representantes de ventas directas totales	18
Cobertura geográfica	Estados Unidos, Canadá
Ciclo de ventas promedio	6-9 meses

Presentaciones de la conferencia de salud

En 2023, Profound Medical participó en 7 principales conferencias de tecnología médica.

• Reunión anual de la Asociación Americana de Urología
• Conferencia de la Sociedad Radiológica de América del Norte
• Congreso de la Asociación Europea de Urología

Publicaciones de la revista médica

La compañía publicó 4 artículos de investigación revisados ​​por pares en 2023.

Métrico de publicación	2023 datos
Publicaciones totales revisadas por pares	4
Revistas principales	Revista de Urología, Radiología

Plataformas de tecnología médica en línea

Profound Medical utilizó plataformas digitales para información del producto y difusión de evidencia clínica.

• Sitio web corporativo
• Red profesional de LinkedIn
• Seminarios web de tecnología médica especializada

Distribuidores de equipos médicos especializados

En 2023, la compañía se dedicó a 12 socios de distribución de equipos médicos especializados.

Métrica de socio de distribución	2023 datos
Socios de distribución total	12
Regiones de distribución primaria	América del Norte, mercados europeos seleccionados

Profound Medical Corp. (Prof) - Modelo de negocio: segmentos de clientes

Proveedores de atención médica urológica

A partir del cuarto trimestre de 2023, Profound Medical Corp. se dirige a los proveedores de atención médica urológica con su tecnología Tulsa-Pro para el tratamiento de la próstata.

Segmento de clientes	Penetración del mercado	Volumen anual estimado
Prácticas privadas urológicas	37 prácticas en América del Norte	Aproximadamente 1,200 procedimientos por año

Clínicas de radiología intervencionista

Profound Medical se centra en clínicas de radiología de intervención especializadas que utilizan tecnologías de tratamiento mínimamente invasivas.

• Total clínicas específicas: 52 en Estados Unidos
• Tasa de adopción del mercado estimada: 24%
• Costo de procedimiento promedio: $ 6,500 por tratamiento

Departamentos quirúrgicos del hospital

La compañía se dirige a los departamentos quirúrgicos del hospital con soluciones avanzadas de tratamiento de próstata.

Tipo de hospital	Número de instalaciones específicas	Procedimientos anuales potenciales
Centros médicos académicos	28 instalaciones	Procedimientos estimados de 750-900 anualmente
Hospitales comunitarios	45 instalaciones	Estimados 500-650 procedimientos anuales

Centros de tratamiento médico especializados

Profound Medical Corp. se dirige a centros de tratamiento médico especializados que se centran en intervenciones urológicas y oncológicas.

• Total de centros especializados identificados: 67
• Concentración geográfica: 82% en América del Norte
• Ingresos anuales potenciales por centro: $ 350,000- $ 475,000

Instituciones de investigación de urología

Las instituciones de investigación representan un segmento crítico de clientes para la validación tecnológica y los estudios clínicos.

Tipo de institución de investigación	Número de instituciones	Estado de colaboración de investigación
Centros de investigación académicos	19 instituciones	Asociaciones de investigación activa
Redes de investigación clínica	8 redes	Evaluación de tecnología en curso

Profound Medical Corp. (Prof) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Profound Medical Corp. reportó gastos de investigación y desarrollo de $ 14.1 millones.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 14.1 millones	76.3%
2022	$ 12.3 millones	68.5%

Inversiones de ensayos clínicos

Las inversiones de ensayos clínicos para Profound Medical Corp. en 2023 totalizaron aproximadamente $ 8.5 millones.

• Ensayos clínicos de Tulsa-Pro Technology: $ 5.2 millones
• Investigación del tratamiento del cáncer de próstata: $ 3.3 millones

Costos de fabricación y producción

Los gastos de fabricación y producción para 2023 fueron de $ 6.2 millones.

Categoría de costos	Cantidad
Fabricación de equipos	$ 3.7 millones
Abastecimiento de componentes	$ 1.8 millones
Trabajo de trabajo	$ 0.7 millones

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio en 2023 ascendieron a $ 2.3 millones.

• Costos de presentación de la FDA: $ 1.1 millones
• Procesos de certificación: $ 0.7 millones
• Monitoreo de cumplimiento continuo: $ 0.5 millones

Infraestructura de marketing y ventas

Los gastos de marketing y ventas para 2023 fueron de $ 4.6 millones.

Canal de marketing	Gastos
Marketing digital	$ 1.9 millones
Compensación del equipo de ventas	$ 1.7 millones
Marketing de conferencias y eventos	$ 1.0 millones

Profound Medical Corp. (Prof) - Modelo de negocio: flujos de ingresos

Venta de dispositivos médicos

Profound Medical Corp. generó $ 13.8 millones en ingresos totales para el año fiscal 2023, con un enfoque principal en las ventas de dispositivos Tulsa-Pro ™.

Producto	Ingresos (2023)	Volumen de ventas
Sistema Tulsa-Pro ™	$ 11.2 millones	23 sistemas vendidos
Componentes desechables	$ 2.6 millones	Ventas recurrentes

Acuerdos de licencia de tecnología

Los ingresos por licencias para 2023 totalizaron $ 750,000 de asociaciones de tecnología médica.

Financiación de la investigación clínica

Las subvenciones de investigación y las fuentes de financiación contribuyeron con aproximadamente $ 1.5 millones a las fuentes de ingresos en 2023.

Fuente de financiación de investigación	Cantidad
Subvenciones del gobierno	$900,000
Fundamentos de investigación privada	$600,000

Reembolsos de procedimiento de diagnóstico

• Reembolso promedio por procedimiento Tulsa-Pro ™: $ 3,750
• Procedimientos anuales estimados: 350-400
• Ingresos de reembolso del procedimiento total: $ 1.4 millones - $ 1.5 millones

Monetización de la propiedad intelectual

La cartera de patentes genera aproximadamente $ 250,000 en ingresos anuales de licencia.

Categoría de IP	Número de patentes	Ingresos por licencias
Tecnología central	12 patentes activas	$180,000
Tecnologías periféricas	5 Patentes de apoyo	$70,000

Profound Medical Corp. (PROF) - Canvas Business Model: Value Propositions

You're looking at the core value Profound Medical Corp. (PROF) delivers to its customers-the physicians and, ultimately, the patients. It's all about offering a superior, less invasive alternative to established procedures, backed by compelling financial and clinical metrics as of late 2025.

The primary value proposition centers on Incision-free, MRI-guided prostate tissue ablation (TULSA-PRO). This technology allows for precise targeting of diseased prostate tissue using sound energy, all while the physician monitors the process in real-time via MRI. This is a significant shift from traditional surgery or radiation.

This precision translates directly into a value proposition of Precise, customizable treatment that protects nerves and functional abilities. The clinical data supports this claim strongly. For instance, perioperative data from the CAPTAIN randomized controlled trial showed that patients treated with robotic radical prostatectomy (RP) took almost three weeks to recover to the same state TULSA Procedure patients reached the very next day. Also, the TULSA Procedure has no associated blood loss and requires no overnight hospital stay.

The customization aspect is evident in how the procedures are being performed across the installed base. Looking at the third quarter of 2025 data, the treatment approach varied significantly:

• 79% were treated for prostate cancer only.
• 14% were hybrid patients (prostate cancer and BPH).
• 4.5% were salvage cases.
• 2.5% were men with BPH only.

Furthermore, the extent of the ablation was highly tailored:

Intention-to-Treat Ablation Type	Percentage of Q3 2025 Procedures
Whole Gland	45%
Sub-Total (More than half the gland)	22%
Hemi-ablations	26%
Focal Therapy	7%

From a financial perspective for Profound Medical Corp., the technology demonstrates a High gross margin of 74.3% on procedures, showing cost-effectiveness for the company. This figure was achieved in the third quarter of 2025, a notable improvement from the 71% gross margin seen in the first quarter of 2025. This high margin is driven by the recurring revenue from consumables used during each TULSA-PRO procedure.

The value proposition extends beyond prostate care to other indications via the Sonalleve platform, offering a Non-invasive treatment for uterine fibroids and palliative pain. Sonalleve is CE marked for treating uterine fibroids and for palliative pain treatment of bone metastases. For specific, localized bone issues, it even holds FDA approval under a Humanitarian Device Exemption for the treatment of osteoid osteoma.

Finally, a key component of the value is the Potential for a single-session, one-and-done procedure. The TULSA Procedure is designed as an incision- and radiation-free treatment performed entirely in a single session that takes just a few hours. This efficiency is also reflected in the reimbursement structure established for 2025. For instance, the Medicare National Average facility payment for CPT 55882 in a Hospital Outpatient setting was set at $12,992, which is 25% higher than the 2025 payment classification for robotic radical proctectomy.

Here's a quick look at the platform's adoption and the resulting revenue quality as of the third quarter of 2025:

• TULSA-PRO Installed Base: 70 systems, with an expectation to reach at least 75 by the end of the year.
• Recurring Revenue (Q3 2025): $4.1 million out of $5.3 million total revenue.
• Procedure Heat Target: Tissue is gently heated to a kill temperature of 55-57°C.

Finance: draft 13-week cash view by Friday.

Profound Medical Corp. (PROF) - Canvas Business Model: Customer Relationships

Direct, high-touch sales and negotiation for capital equipment placement.

The TULSA-PRO installed base reached 70 systems as of September 30, 2025, with an expectation to reach at least 75 installs by the end of the year. Profound Medical Corp. is actively managing a qualified sales pipeline that stood at 93 new systems in the "Verify, Negotiate and Contracting" stages as of Q3 2025. This follows a pipeline of 80 new systems in similar stages in Q2 2025, built upon nearly 500 prospects and over 100 engaged leads reported in that quarter. Capital equipment sales contributed $820,000 in Q1 2025, which dipped to $650,000 in Q2 2025, before increasing to $1.2 million in Q3 2025.

Dedicated clinical support and training for hospital staff.

Support infrastructure is reflected in operating expenses, which were $13.0 million in Q1 2025, rising to $15.4 million in Q2 2025, and settling at approximately $12.8 million in Q3 2025. These expenses cover an enlarged sales force and increased headcount necessary to support commercial expansion. Educational efforts included hosting the Pro-Talk Live! event in February 2025.

Long-term service contracts and consumable supply for recurring revenue.

Recurring revenue streams, which consist of TULSA-PRO® consumables, lease of capital equipment, and extended warranty services, are a key component of customer retention.

Metric	Q1 2025 Amount (USD)	Q2 2025 Amount (USD)	Q3 2025 Amount (USD)
Recurring - non-capital revenue	$1,801,000	$1,600,000	$4,100,000
Percentage of Total Revenue	Approximately 68.7%	Approximately 72.7%	Approximately 77.4%

The gross margin for Profound Medical Corp. improved to 74.3% in Q3 2025, up from 71% in Q1 2025.

Collaborative programs with medical centers to accelerate adoption.

Profound Medical Corp. launched a first-of-its-kind TULSA-PROgram in September 2025 in partnership with Texas Prostate and Dallas Medical Center. This model is designed to bridge private-pay practices and Medicare-participating hospitals. The company is also expanding its market presence through strategic distribution agreements in Canada, Saudi Arabia, Australia, and New Zealand.

Investor relations and public communication on clinical progress.

Public communication highlights clinical milestones and financial health to stakeholders. The company reported its cash position as of March 31, 2025, was $46.4 million, which decreased to $35.2 million by June 30, 2025, and further to approximately $24.8 million as of September 30, 2025. The net loss for Q3 2025 was approximately $8.0 million, or $0.26 per common share, an improvement from the Q3 2024 net loss of approximately $9.4 million. The company is anticipating published data from the CAPTAIN trial in December 2025, which management expects will lead to new guidelines. CEO Arun Menawat presented at the Stifel Healthcare Conference in early November 2025.

• TULSA-PRO treatment applications in Q3 2025:
• 79% for prostate cancer only.
• 14% were hybrid patients (cancer and BPH).
• 4.5% were salvage procedures.
• 2.5% were for BPH only.

Profound Medical Corp. (PROF) - Canvas Business Model: Channels

You're looking at how Profound Medical Corp. gets its TULSA-PRO and Sonalleve systems and services in front of the right clinicians and stakeholders as of late 2025. The strategy clearly splits between direct control in North America and leveraging established partners elsewhere.

Direct sales force focused on North American hospitals and medical centers.

Profound Medical Corp. is deploying its own direct sales team across North America, which they streamlined in the second quarter of 2025 to refine sales processes as they pivot to prioritize capital equipment sales. The company confirmed its sales team was stabilized as of the second quarter of 2025 earnings call. This direct approach is key for managing the TULSA-PRO system adoption in the U.S., where the system has 510(k) clearance from the U.S. Food and Drug Administration (FDA). The company noted a robust TULSA-PRO qualified sales pipeline, which stood at 80 new systems in the Verify, Negotiate, and Contracting stages as of June 30, 2025. This pipeline execution is central to their guidance of achieving 70% to 75% total year-over-year revenue growth for 2025 over 2024 figures.

Exclusive distribution agreements for international markets.

For markets outside North America, Profound Medical Corp. relies on select strategic distribution partners to support the business potential and customer base. This approach was recently reinforced with several key agreements:

• Secured an exclusive distribution and supply agreement with Getz Healthcare for Australia and New Zealand, announced on November 12, 2025.
• Entered into an exclusive distribution agreement with Al Faisaliah Medical Systems in Saudi Arabia, announced on November 11, 2025.
• Regained exclusive distribution rights for Canada from Knight Therapeutics Inc. on November 10, 2025, in exchange for a one-time cash payment of CDN$90,000 (US$64,000) and a 5% royalty on Canadian Net Sales for 15 years.

The company is also exploring expanding the partnership with Getz Healthcare to include additional key markets across Asia Pacific. The Sonalleve platform, which is CE marked for uterine fibroids, also has approval from the China National Medical Products Administration for the non-invasive treatment of uterine fibroids.

Clinical presentations at major medical conferences (e.g., RSNA, SUO).

Major medical conferences serve as critical channels for clinical validation and product launches. Profound Medical Corp. actively presented at several key events in late 2025:

• Showcased innovations at the Radiological Society of North America (RSNA) meeting in Chicago (November 30-December 4, 2025) and the Society for Urologic Oncology (SUO) meeting in Phoenix (December 2-5, 2025).
• Launched the TULSA-AI Volume Reduction module for benign prostatic hyperplasia (BPH) at RSNA.
• Presented new clinical data on the TULSA-PRO procedure for prostate cancer at both RSNA and SUO.
• Hosted an investor event during the American Urological Association's (AUA) Annual Meeting in Las Vegas in April 2025.

These presentations feature data, such as the CAPTAIN perioperative trial results, which are intended to drive adoption and potentially influence new clinical guidelines. The company also noted increased travel and conference costs in its operating expenses to support this growth.

Company website and investor relations for defintely reaching stakeholders.

The company utilizes its corporate website, www.profoundmedical.com, for investor relations and to host archived webcasts of calls and events. The website is the source for filings under SEDAR+ and the SEC. The company reported preliminary unaudited total revenues for the third quarter ended September 30, 2025, to be in the range of $5.2 million to $5.3 million USD. This performance reflects the utilization of the installed base, which grew to 67 TULSA-PRO systems as of September 30, 2025, with an expectation to reach at least 75 by the end of the year.

Here's a quick look at the key operational and financial metrics relevant to channel performance as of the third quarter of 2025:

Metric	Value (as of Q3 2025)	Context
TULSA-PRO Installed Base	67 systems (as of Sept 30, 2025)	Up from 60; target of at least 75 by year-end 2025.
Q3 2025 Revenue (Preliminary)	$5.2 million to $5.3 million USD	Represents growth of 84% to 87% over Q3 2024.
Actual Q3 2025 Revenue	$5.29 million USD	Surpassed market expectation of $4.98 million.
Q3 2025 Gross Margin (Expected)	Approximately 72%	Compared to 64% in the prior year period.
Total Revenue (TTM)	$14.30 Million USD	Up 67.94% year-over-year (as of Sept 30, 2025).
Canadian Royalty Rate	5%	On Canadian Net Sales for 15 years, following rights regaining.

The company's cash position as of June 30, 2025, was $35.2 million, which supports the operating expenses associated with expanding the commercial organization and travel for conferences. Finance: draft 13-week cash view by Friday.

Profound Medical Corp. (PROF) - Canvas Business Model: Customer Segments

You're looking at the customer base for Profound Medical Corp. as of late 2025, primarily driven by the TULSA-PRO system utilization following their strong third quarter results.

Hospitals and specialized medical centers acquiring capital equipment.

These institutions are the direct purchasers of the durable TULSA-PRO system, which is used in conjunction with their existing MRI scanner. The installed base, which is key to recurring revenue from consumables, stood at 70 systems as of September 30, 2025. Management reiterated confidence in reaching at least 75 installs by the end of the year. The qualified sales pipeline for new systems was robust, standing at 93 new systems in the Verify, Negotiate, and Contracting stages in Q3 2025. Revenue from the one-time sale of capital equipment in Q3 2025 was $1.2 million out of total revenue of approximately $5.3 million for the quarter.

Urologists and interventional radiologists performing the procedures.

These are the key users who drive the recurring revenue stream, which was $4.1 million in Q3 2025 from consumables, leases, and warranties. The TULSA Procedure is an incision- and radiation-free, one-and-done procedure. The company is focused on U.S. commercialization with a direct sales team. The new TULSA-AI Volume Reduction module, which debuted in late 2025, is specifically designed to streamline workflow and compress procedure times, allowing sites to schedule multiple cases in a single day. This efficiency push targets the same operational arguments used by high-volume BPH alternatives.

Prostate cancer patients (the majority, 79% of Q3 2025 procedures).

This group represents the core utilization base for the TULSA-PRO system. The procedure treats the entire prostate disease spectrum. Here's the quick math on the patient mix from Q3 2025 procedures:

Patient Indication	Percentage of TULSA Procedures (Q3 2025)
Prostate Cancer Only	79%
Hybrid (Cancer and BPH)	14%
Salvage Therapy (Radio-recurrent)	4.5%
BPH Only	2.5%

For the cancer-only segment, the breakdown by Gleason Grade Group (GG) was:

• GG1: 10%
• GG2: 53%
• GG3: 28%
• GG4 & GG5: 9%

Patients with Benign Prostatic Hyperplasia (BPH) and hybrid cases.

The introduction of the TULSA-AI Volume Reduction module in late 2025 is a strategic move to capture this larger market. Profound projects this module could expand its annual addressable patient pool to roughly 600,000 patients. In Q3 2025, patients with BPH only accounted for 2.5% of procedures, while hybrid cases (cancer and BPH) made up 14%.

Patients requiring salvage therapy for radio-recurrent cancer.

This is a specific, high-need niche within the overall patient population. In the third quarter of 2025, patients requiring salvage therapy for radio-recurrent cancer represented 4.5% of the TULSA Procedures performed. The TULSA Procedure offers an incision- and radiation-free option for these patients.

Profound Medical Corp. (PROF) - Canvas Business Model: Cost Structure

You're looking at the expenses Profound Medical Corp. is incurring to drive its commercial growth and clinical milestones as of late 2025. Honestly, the cost structure is heavily weighted toward expansion and development right now, which is typical for a commercial-stage medical device company scaling its footprint.

High Selling, General, and Administrative (SG&A) expenses from sales force expansion

The push to grow the TULSA-PRO installed base is a major cost driver. You see this reflected in the operating expenses rising year-over-year. For the third quarter of 2025, total operating expenses were approximately $12.8 million, up from $10.8 million in the third quarter of 2024. This increase was explicitly tied to several factors supporting the commercial ramp.

The key components driving this higher SG&A include:

• Increased headcount and increased sales force size.
• Higher commission payments tied to sales performance.
• Increased travel and infrastructure costs to support the growing business.

The second quarter of 2025 showed even higher operating expenses at approximately $15.4 million, which also pointed to higher headcount and sales force expansion.

Significant R&D investment, totaling $10.9 million for the nine months of 2025

Profound Medical Corp. continues to fund future innovation and clinical validation. You are required to note the significant R&D spend dedicated to advancing the platform. The investment in Research and Development for the first nine months of 2025 totaled $10.9 million.

This investment supports pipeline development, including the TULSA-AI Volume Reduction software, which soft-launched in Q4 2025, and the integration with Siemens Free.Max.

Costs of goods sold for TULSA-PRO systems and consumables

The Cost of Goods Sold (COGS) is the direct cost associated with generating revenue. Profound Medical Corp. achieved a gross margin of 74.3% in the third quarter of 2025. Given the Q3 2025 revenue was $5.3 million, the implied COGS for that quarter was approximately $1.35 million ($5.3 million (1 - 0.743)).

Revenue generation in Q3 2025 broke down as follows:

Revenue Component	Q3 2025 Amount (USD)
Recurring Revenue (Consumables, Lease, Services)	$4.1 million
One-Time Sale of Capital Equipment (TULSA-PRO systems)	$1.2 million

The recurring revenue stream, which is tied to consumables used in the TULSA Procedure, is key to margin stability, as evidenced by the 1,119 basis point year-over-year improvement in gross margin.

Clinical trial costs, particularly for the CAPTAIN trial enrollment

Clinical validation is a necessary, non-recurring cost that impacts quarterly expenses. The pivotal CAPTAIN trial, which compared TULSA to robotic radical prostatectomy, was a significant cost factor, particularly in the first half of 2025.

The increased operating expenses in the second quarter of 2025, which reached $15.4 million, were directly attributed to:

• Increased enrolment for the CAPTAIN trial.
• Associated treatments and recruitment efforts.

Management announced that the recruitment for the CAPTAIN trial was completed as of August 2025.

General corporate overhead and public company compliance costs

This category covers the fixed and semi-fixed costs of running a publicly traded entity. While not broken out separately, these costs are embedded within the total operating expenses, which totaled $12.8 million in Q3 2025.

These overhead costs cover necessary functions such as:

• General corporate administration.
• Public company compliance, including SEC filings and investor relations.
• Base salaries for non-sales/R&D personnel.

The company's net loss for Q3 2025 was approximately $8.0 million, reflecting these operating costs against the $5.3 million in revenue.

Profound Medical Corp. (PROF) - Canvas Business Model: Revenue Streams

You're looking at the core ways Profound Medical Corp. (PROF) brings in cash as of late 2025, which is heavily weighted toward repeat business, a good sign for a medical device company.

The revenue structure is clearly bifurcated between the initial sale of the high-value TULSA-PRO capital equipment and the ongoing revenue generated from using that equipment. For the third quarter of 2025, the total revenue hit a record $5.3 million. This performance showed an 87% increase year-over-year from $2.8 million in Q3 2024.

The real engine for the business, however, is the recurring side. Recurring revenue, which covers consumables, leases, and service contracts, was $4.1 million in Q3 2025, making it the majority of the sales generated that quarter. This recurring stream is essential because it provides a more predictable financial base than relying solely on large, lumpy capital sales.

Here is the quick math on how the Q3 2025 revenue broke down:

Revenue Component	Q3 2025 Amount (USD)	Source Type
Sale or lease of TULSA-PRO capital equipment	$1.2 million	One-time/Capital
Recurring revenue (Consumables, Leases, Service)	$4.1 million	Recurring
Total Revenue	$5.3 million	Total

The recurring revenue component is explicitly tied to the installed base of the TULSA-PRO system, which stood at 70 systems as of the end of Q3 2025, with management expecting to reach at least 75 installs by the end of the year. This recurring revenue from TULSA-PRO consumables, leases, and service contracts is the foundation of the business model.

Beyond the primary TULSA-PRO revenue, Profound Medical Corp. also generates revenue from its other platform:

• Revenue from Sonalleve system sales and related consumables/services.
• The recurring revenue stream also incorporates service contracts and leases for both TULSA-PRO and Sonalleve platforms.
• The company is actively expanding market access for both TULSA-PRO and Sonalleve through new distribution agreements in regions like Saudi Arabia.

To be fair, the $1.2 million from capital equipment sales represents a significant, though less predictable, portion of the total revenue. The gross margin on this total revenue was strong at 74.3% for the quarter.

Finance: draft 13-week cash view by Friday.