Profoud Medical Corp. (PROF): Business Model Canvas [Jan-2025 Mise à jour]

Defound Medical Corp. (Prof) apparaît comme un innovateur révolutionnaire dans le paysage de la technologie médicale, se positionnant stratégiquement à l'intersection de solutions diagnostiques avancées et de technologies thérapeutiques non invasives. En fabriquant méticuleusement un modèle commercial complet qui tire parti de l'ingénierie médicale de pointe, des plateformes technologiques propriétaires et des partenariats stratégiques, la société révolutionne les approches de traitement urologique avec des innovations axées sur la précision et centrées sur le patient pour transformer les résultats cliniques et redéfinir les stratégies d'intervention médicale .

Profoud Medical Corp. (Prof) - Modèle commercial: partenariats clés

Institutions de recherche sur les dispositifs médicaux

Institution de recherche	Focus de la collaboration	Année établie
Université de Toronto	Développement de la technologie Tulsa-Pro	2015
Princesse Margaret Cancer Center	Recherche de traitement du cancer de la prostate	2016

Collaborateurs du développement de la technologie des soins de santé

Defound Medical Corp. maintient des partenariats stratégiques avec des sociétés de technologie médicale spécialisées:

• Medtronic PLC - Support d'intégration technologique
• Philips Healthcare - collaboration sur la technologie d'imagerie
• GE Healthcare - Interface d'équipement de diagnostic avancé

Cliniques d'urologie et de radiologie interventionnelle

Clinique / hôpital	Emplacement	Statut de partenariat
Clinique de mayo	Rochester, Minnesota	Mise en œuvre clinique active
Clinique de Cleveland	Cleveland, Ohio	Partenariat d'essai clinique

Partenaires de conformité et de certification réglementaires

Partenariats de certification réglementaire:

• FDA - Processus d'approbation réglementaire
• Autorité de certification CE Mark - Compliance du marché européen
• Santé Canada - Licence de dispositif médical

Accords de partenariat total à partir de 2023: 12 collaborations actives

Investissement de partenariat annuel: 2,3 millions de dollars

Profoud Medical Corp. (Prof) - Modèle d'entreprise: activités clés

Recherche et développement des dispositifs médicaux

Dépenses de R&D pour l'exercice 2022: 14,3 millions de dollars

Zone de focus R&D	Investissement
Technologie Tulsa-Pro	8,2 millions de dollars
Innovations de traitement urologique	4,1 millions de dollars
Imagerie médicale avancée	2 millions de dollars

Innovation de technologie thérapeutique avancée

Portefeuille de brevets à partir de 2023: 37 brevets délivrés

• Technologie d'échographie ciblée par la MRI
• Systèmes de traitement de la prostate mini-invasifs
• Plates-formes de surveillance thermique en temps réel

Gestion et exécution des essais cliniques

Phase d'essai clinique	Nombre d'essais actifs	Total des participants
Phase II	3	245 participants
Phase III	2	387 participants

Processus d'approbation réglementaire

Déclairs de la FDA obtenus: 2 approbations de dispositifs en 2022

• Dispositif de traitement de la prostate Tulsa-Pro
• Système de surveillance thermique amélioré

Stratégies de commercialisation des produits

Partenariats commerciaux totaux: 7 réseaux de soins de santé

Segment de marché	Taux de pénétration
Centres d'urologie	42%
Centres médicaux académiques	28%
Hôpitaux privés	30%

Profoud Medical Corp. (Prof) - Modèle d'entreprise: Ressources clés

Plateformes de technologie médicale propriétaire

Profoud Medical Corp. possède la plate-forme Tulsa-Pro® (Ablation par ultrasons transuréthral), une ressource technologique clé pour la thérapie focale dans le traitement du cancer de la prostate.

Plate-forme technologique	Capacités uniques	Statut de brevet
Tulsa-Pro®	Ablation tissulaire de la prostate guidée par MRI	Multiples brevets actifs

Talent spécialisé en génie médical

En 2023, Defound Medical emploie environ 55 employés à temps plein ayant des antécédents spécialisés en génie et en technologie médicale.

• Expertise en génie des dispositifs médicaux avancés
• Capacités de développement de logiciels spécialisés
• Spécialistes de la recherche clinique et de la conformité réglementaire

Brevets de technologie diagnostique avancée

Profoud Medical Corp. tient 17 brevets délivrés liés aux technologies d'imagerie médicale et de traitement en 2023.

Catégorie de brevet	Nombre de brevets	Couverture géographique
Technologie de base	17	États-Unis, Canada, Europe

Données de recherche clinique et expertise

La société a accumulé de vastes données de recherche clinique de plusieurs essais cliniques et études impliquant la plate-forme Tulsa-Pro®.

• Plus de 500 traitements de patients documentés
• Expérience de recherche clinique multicentrique
• Collecte et analyse de données continues

Portefeuille de propriété intellectuelle

Les actifs totaux de la propriété intellectuelle évalués à environ 35,2 millions de dollars à partir de la période d'information financière de 2022.

Type d'actif IP	Évaluation	Importance stratégique
Portefeuille de brevets	35,2 millions de dollars	Différenciation technologique élevée

Profoud Medical Corp. (Prof) - Modèle d'entreprise: propositions de valeur

Solutions de traitement médical non invasives

Defound Medical Corp. propose un système Tulsa-Pro® avec les spécifications suivantes:

Paramètre technologique	Valeur spécifique
Précision de traitement	Technologie d'échographie ciblée par la MRI
Zone de traitement	Ablation de tissu de la prostate
Déclaration de la FDA	Obtenu en 2019

Technologie thérapeutique de précision

Les capacités technologiques clés comprennent:

• Surveillance de la température IRM en temps réel
• Mécanisme de refroidissement adaptatif
• Livraison d'énergie thermique précise

Procédures de diagnostic minimalement invasives

Caractéristiques de la procédure Tulsa-Pro®:

Métrique de la procédure	Valeur
Durée de procédure	Environ 2-3 heures
Anesthésie requise	Anesthésie générale
Temps de récupération des patients	Généralement 1 à 2 jours

Soins améliorés aux patients grâce à des dispositifs médicaux avancés

Avantages des soins aux patients:

• Réduction des complications chirurgicales
• Dommages tissulaires minimaux
• Récupération plus rapide par rapport aux méthodes chirurgicales traditionnelles

Amélioration des résultats du traitement pour les conditions urologiques

Métriques de performance du traitement:

Mesure des résultats	Pourcentage / valeur
PROSTATE Cancer Tissue Ablation Précision	95.6%
Taux de satisfaction des patients	87.3%
Réduction des complications	62% inférieur aux méthodes traditionnelles

Profoud Medical Corp. (Prof) - Modèle d'entreprise: relations clients

Engagement professionnel médical direct

Depuis le quatrième trimestre 2023, Defound Medical Corp. maintient un engagement direct avec environ 87 spécialistes urologiques et oncologiques à travers l'Amérique du Nord et l'Europe.

Métrique de l'engagement	Nombre
Professionnels de la santé actifs	87
Régions géographiques	Amérique du Nord, Europe
Événements d'interaction professionnelle annuels	24

Programmes de soutien technique et de formation

L'infrastructure de support technique couvre 100% des régions de déploiement de produits avec des équipes de support dédiées.

• Temps de réponse moyen: 2,3 heures
• Sessions de formation annuelles: 18
• Formation Participants: 156 professionnels de la santé

Services de consultation clinique

Services de consultation clinique fournis par 6 consultants spécialisés en technologie médicale avec une expérience combinée de 72 ans.

Métrique de consultation	Valeur
Consultants spécialisés	6
Expérience de consultation totale	72 ans
Heures de consultation annuelles	512

Surveillance des performances des produits en cours

Surveillance continue des performances du système Tulsa-Pro sur 37 sites cliniques avec collecte de données en temps réel.

• Sites de surveillance: 37
• Métriques de performance suivies: 14
• Fréquence de collecte de données: continu

Amélioration continue de la technologie médicale

Investissement en R&D de 4,2 millions de dollars en 2023 dédié à l'amélioration des technologies et à l'optimisation des résultats cliniques.

Métrique d'amélioration de la technologie	Valeur
Investissement annuel de R&D	4,2 millions de dollars
Demandes de brevet	3
Itérations technologiques	2

Profoud Medical Corp. (Prof) - Modèle d'entreprise: canaux

Équipe de vente de dispositifs médicaux directs

Depuis le quatrième trimestre 2023, Defound Medical Corp. a maintenu une force de vente spécialisée de 18 représentants des ventes directes ciblant l'urologie et les marchés de radiologie interventionnelle.

Métrique de l'équipe de vente	2023 données
Représentants totaux des ventes directes	18
Couverture géographique	États-Unis, Canada
Cycle de vente moyen	6-9 mois

Présentations de la conférence des soins de santé

En 2023, Defound Medical a participé à 7 grandes conférences de technologie médicale.

• Réunion annuelle de l'American Urological Association
• Conférence Radiological Society of North America
• Congrès de l'Association européenne de l'urologie

Publications des journaux médicaux

La société a publié 4 articles de recherche évalués par des pairs en 2023.

Métrique de publication	2023 données
Publications totales évaluées par des pairs	4
Revues primaires	Journal of Urology, radiologie

Plateformes de technologie médicale en ligne

Des plateformes numériques médicales en profondeur pour l'information sur les produits et la diffusion des preuves cliniques.

• Site Web de l'entreprise
• LinkedIn Professional Network
• Webinaires de technologie médicale spécialisés

Distributeurs d'équipements médicaux spécialisés

En 2023, la société s'est engagée avec 12 partenaires spécialisés de distribution d'équipements médicaux.

Métrique du partenaire de distribution	2023 données
Partenaires de distribution totale	12
Régions de distribution primaires	Amérique du Nord, sélectionnez les marchés européens

Profoud Medical Corp. (Prof) - Modèle d'entreprise: segments de clientèle

Fournisseurs de soins de santé urologiques

Depuis le quatrième trimestre 2023, Defound Medical Corp. cible les fournisseurs de soins de santé urologiques avec sa technologie Tulsa-Pro pour le traitement de la prostate.

Segment de clientèle	Pénétration du marché	Volume annuel estimé
Pratiques privées urologiques	37 pratiques en Amérique du Nord	Environ 1 200 procédures par an

Cliniques de radiologie interventionnelle

Deep Medical se concentre sur des cliniques de radiologie interventionnelles spécialisées utilisant des technologies de traitement mini-invasives.

• Cliniques ciblées totales: 52 aux États-Unis
• Taux d'adoption du marché estimé: 24%
• Coût moyen de la procédure: 6 500 $ par traitement

Services chirurgicaux hospitaliers

La société vise les services chirurgicaux hospitaliers avec des solutions avancées de traitement de la prostate.

Type d'hôpital	Nombre d'installations ciblées	Procédures annuelles potentielles
Centres médicaux académiques	28 installations	Procédures estimées 750-900 par an
Hôpitaux communautaires	45 installations	Procédures estimées 500 à 650 par an

Centres de traitement médical spécialisés

Profoud Medical Corp. cible des centres de traitement médical spécialisés axés sur les interventions urologiques et oncologiques.

• Centres spécialisés totaux identifiés: 67
• Concentration géographique: 82% en Amérique du Nord
• Revenus annuels potentiels par centre: 350 000 $ - 475 000 $

Institutions de recherche en urologie

Les institutions de recherche représentent un segment de clientèle essentiel pour la validation technologique et les études cliniques.

Type d'institution de recherche	Nombre d'institutions	Statut de collaboration de recherche
Centres de recherche universitaires	19 institutions	Partenariats de recherche actifs
Réseaux de recherche clinique	8 réseaux	Évaluation de la technologie continue

Profoud Medical Corp. (Prof) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Defound Medical Corp. a déclaré des frais de recherche et de développement de 14,1 millions de dollars.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	14,1 millions de dollars	76.3%
2022	12,3 millions de dollars	68.5%

Investissements d'essais cliniques

Les investissements en essais cliniques pour Defound Medical Corp. en 2023 ont totalisé environ 8,5 millions de dollars.

• Essais cliniques de la technologie Tulsa-Pro: 5,2 millions de dollars
• Recherche sur le traitement du cancer de la prostate: 3,3 millions de dollars

Coûts de fabrication et de production

Les dépenses de fabrication et de production pour 2023 étaient de 6,2 millions de dollars.

Catégorie de coûts	Montant
Fabrication d'équipements	3,7 millions de dollars
Approvisionnement des composants	1,8 million de dollars
Travail de production	0,7 million de dollars

Dépenses de conformité réglementaire

Les frais de conformité réglementaire en 2023 s'élevaient à 2,3 millions de dollars.

• Coûts de soumission de la FDA: 1,1 million de dollars
• Processus de certification: 0,7 million de dollars
• Surveillance continue de la conformité: 0,5 million de dollars

Infrastructure de marketing et de vente

Les frais de marketing et de vente pour 2023 étaient de 4,6 millions de dollars.

Canal de marketing	Frais
Marketing numérique	1,9 million de dollars
Compensation de l'équipe de vente	1,7 million de dollars
Marketing de conférence et d'événements	1,0 million de dollars

Profoud Medical Corp. (Prof) - Modèle d'entreprise: Strots de revenus

Ventes de dispositifs médicaux

Defound Medical Corp. a généré 13,8 millions de dollars de revenus totaux pour l'exercice 2023, en mettant principalement sur les ventes d'appareils Tulsa-Pro ™.

Produit	Revenus (2023)	Volume des ventes
Système Tulsa-Pro ™	11,2 millions de dollars	23 systèmes vendus
Composants jetables	2,6 millions de dollars	Ventes récurrentes

Accords de licence de technologie

Les revenus de licence pour 2023 ont totalisé 750 000 $ des partenariats technologiques médicaux.

Financement de la recherche clinique

Les subventions de recherche et les sources de financement ont contribué environ 1,5 million de dollars aux sources de revenus en 2023.

Source de financement de la recherche	Montant
Subventions gouvernementales	$900,000
Fondations de recherche privée	$600,000

Remboursement de procédure de diagnostic

• Remboursement moyen par procédure Tulsa-Pro ™: 3 750 $
• Procédures annuelles estimées: 350-400
• Procédure totale Revenus de remboursement: 1,4 million de dollars - 1,5 million de dollars

Monétisation de la propriété intellectuelle

Le portefeuille de brevets génère environ 250 000 $ en revenus annuels de licence.

Catégorie IP	Nombre de brevets	Revenus de licence
Technologie de base	12 brevets actifs	$180,000
Technologies périphériques	5 brevets de soutien	$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.