Profound Medical's Revenue Surge: A Look into the Company's Strong Q4 2024 Performance

Profound Medical Corp. (PROF) has announced preliminary unaudited revenues for the fourth quarter and full year 2024, showcasing a remarkable year-over-year growth of 105% to 110% and 105% to 110%, respectively. This impressive performance can be attributed to several strategic initiatives and developments throughout the year.



One of the key drivers of Profound's growth in 2024 was the ongoing Level 1 CAPTAIN trial, which compares the TULSA procedure to radical prostatectomy in men with localized prostate cancer. The trial's successful enrollment and completion are expected to further validate the TULSA procedure, potentially expanding its market reach and driving more adoption.

Another significant factor contributing to Profound's growth was the collaboration with Siemens Healthineers. This non-exclusive partnership aims to integrate Profound's TULSA-PRO® system with Siemens Healthineers' MRI technology, creating a comprehensive solution for MRI-guided prostate therapy. This collaboration has helped increase the visibility and accessibility of the TULSA procedure, driving growth for Profound in 2024.

Profound's focus on early adopters and teaching hospitals has resulted in increased adoption of TULSA-PRO® throughout 2024. By the end of the year, the TULSA-PRO® system was installed at, or contracted with, 10 of the top 20 cancer hospitals in the United States as ranked by U.S. News and World Report. This includes prestigious institutions such as MD Anderson and Mayo Clinic, further solidifying Profound's position in the market.

The company's success in treating a wide variety of prostate disease patients has also contributed to its growth. In Q4 2024, approximately 67% of patients were treated for prostate cancer, 23% were hybrid patients suffering from both prostate cancer and benign prostatic hyperplasia (BPH), 7% were salvage, and 3% were men with BPH only. This diversity in patient population has allowed Profound to tap into various market segments, driving revenue growth.

Profound's strong performance in Q4 2024 is a testament to the company's strategic initiatives and commitment to innovation. As the company continues to invest in research and development, clinical trials, and strategic partnerships, it is well-positioned to maintain its growth trajectory in the coming years. Investors should keep a close eye on Profound Medical as it continues to make waves in the medical device industry.