Profound Medical's Q2 2025: Navigating Contradictions in Sales Models, Marketing Strategies, and Market Positioning

Sales model and revenue projections, marketing and sales strategy, sales and installation forecasts, TULSA-PRO market positioning and pipeline are the key contradictions discussed in Profound Medical's latest 2025Q2 earnings call.



Revenue and Sales Performance:
- Profound Medical reported revenue of $2.2 million for Q2 2025, with $1.6 million from recurring revenue and $650,000 from capital equipment sales.
- The revenue was essentially unchanged from the same period in 2024.
- The company attributed the sales performance to short-term delays in completing capital sales and the transition from a placement model to a capital model.

Operating Expenses and Financial Results:
- Total operating expenses for Q2 2025 were $15.4 million, compared to $9.3 million in Q2 2024.
- Profound recorded a net loss of $15.7 million or $0.52 per share for Q2 2025, compared to a net loss of $6.9 million or $0.28 per share in Q2 2024.
- The increase in expenses was due to increased R&D and SG&A costs as the company invests in growth and product development.

Clinical Trial and Market Impact:
- The CAPTAIN trial, a decisive randomized controlled study, was fully recruited, and all patient treatments are complete.
- The trial's outcomes demonstrated TULSA's superiority in patient experience compared to robotic surgery.
- Completion of the CAPTAIN trial is expected to drive adoption and utilization of TULSA by influencing professional society treatment guidelines and reimbursement coverage.

Product Innovation and Market Expansion:
- Profound released a new TULSA-AI volume reduction software for BPH procedures, aiming for a full commercial launch in the second half of 2025.
- The software is designed to streamline procedure times to 60-90 minutes, enabling TULSA to compete with existing BPH treatment options.
- This innovation is expected to move TULSA from a niche to a mainstream treatment option for BPH, enabling TULSA to be an attractive option for both cancer and BPH patients.