Profound Medical Reports Strong Third Quarter 2026 Results; Expands U.S. Distribution and Positions Leadership for Next Phase of Growth

Arun Menawat, CEO and Chairman of Profound Medical

“Revenue increased 86% year-over-year, gross margin reached 78%, and operating cash use declined substantially from the second quarter”

Arun Menawat, CEO and Chairman of Profound Medical

“These results, together with our commercial pipeline, support our strong full-year outlook. Our priority is to convert growing physician interest, broader payer coverage and clinical evidence into system placements and recurring procedure revenue.”

Arun Menawat, CEO and Chairman of Profound Medical

“Our new Cook Medical agreement adds a key U.S. distribution channel, complementing our own sales team’s continued focus on selling TULSA-PRO for existing 1.5T and 3.0T MRI systems outside the agreement’s scope, while preserving our direct relationships for disposables and service.”

Arun Menawat, CEO and Chairman of Profound Medical

“With experienced leadership in place and continued investment in product efficiency, we are positioning Profound to scale toward profitable growth.”

Arun Menawat, CEO and Chairman of Profound Medical

“Based on current operating plans, we expect existing cash and revenue from product and service sales to be sufficient to fund our operating and capital expenditure requirements for at least the next 12 months,”

Arun Menawat, CEO and Chairman of Profound Medical

“While we have no immediate plans to raise capital, we will opportunistically evaluate both dilutive and non-dilutive financing opportunities that support our path to profitability while balancing our capital needs with shareholder dilution.”

Arun Menawat, Executive Chairman-designate of Profound Medical

“Since joining Profound’s Board in 2014 and becoming CEO in 2016, I have had the privilege of helping guide TULSA-PRO through FDA clearance, CMS reimbursement and into commercial adoption.”

Arun Menawat, Executive Chairman-designate of Profound Medical

“Our third quarter results demonstrate how far the business has progressed and reinforce my confidence in the opportunity ahead. As we prepare for the next phase, Rich brings the medical technology experience, commercial discipline and operational leadership to build on this foundation. I look forward to supporting him and the team as Executive Chairman.”

Richard Fabian, President and incoming CEO of Profound Medical

“My priority is to scale this organization”

Richard Fabian, President and incoming CEO of Profound Medical

“As more customers and patients recognize the benefits of the TULSA Procedure, we need to support that growth across every aspect of our business — from commercial and clinical excellence to operations, supply chain and innovation. By strengthening these capabilities together, we can help customers treat more patients, operate more efficiently and continue delivering innovative, clinically relevant solutions that meet their evolving needs.”

Arun Menawat, Executive Chairman-designate of Profound Medical

“Matthew combines a deep understanding of Profound’s business with the financial expertise to support our commercial priorities,”

Arun Menawat, Executive Chairman-designate of Profound Medical

“His leadership will be central to maintaining spending discipline, allocating capital to our strongest opportunities and advancing our path toward profitability.”

Arun Menawat, Executive Chairman-designate of Profound Medical

“We thank Cynthia for her leadership and many contributions to Profound,”

Arun Menawat, Executive Chairman-designate of Profound Medical

“Jason brings a valuable combination of operating strategy, sector knowledge and capital markets experience. Having known him since his coverage of Novadaq Technologies up until its acquisition by Stryker for approximately $701 million, I look forward to his perspective on growth opportunities and capital allocation.”