PROF on Nasdaq

Profound Medical Corp.

Canadian surgical and medical instruments and apparatus company.

$6.42 down 0.20 (3.02%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 18, 2026.

Overview

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TickerPROF on Nasdaq
IndustrySurgical & Medical Instruments & Apparatus
HeadquartersA6
Incorporated inOntario, Canada³
Business address2400 Skymark Avenue, Unit 6, Mississauga, A6 L4W 5K5³
Filer categoryNon-accelerated filer, Smaller reporting company³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

70.8%Gross margin⁴

-256.3%Operating margin⁴

-264.4%Net margin⁴

65.3%Revenue growth, 2025⁴

-64.1%Return on equity⁴

0.07×Debt to equity⁴

-$38.4MFree cash flow⁴

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Recurring - Non-Capital brought in 60% of the revenue Profound Medical Corp. broke down this way in fiscal 2025.

Recurring - Non-Capital$9.7M⁴60%up 18% from 2024
Capital Equipment$6.4M⁴40%up 161% from 2024

Products and services by year

Products and services	2024	2025
Recurring - Non-Capital	$8.2M	$9.7M
Capital Equipment	$2.4M	$6.4M

Regions

United States brought in 76% of the revenue Profound Medical Corp. broke down this way in fiscal 2025.

United States$12.2M⁴76%up 67% from 2024
CA [member]$3.1M⁴19%up 26% from 2024
DEMember$773.0K⁴5%down 13% from 2024

Regions by year

Regions	2024	2025
United States	$7.3M	$12.2M
CA [member]	$2.4M	$3.1M
DEMember	$891.0K	$773.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

Research and developmentSelling, general and admin

Cost of revenue8¢$4.7M
Research and development36¢$20.6M
Selling, general and admin56¢$32.1M
Income tax0¢$252.0K

Out of $16.1M in revenue.⁴ The company lost money this year.

Financial statements

Revenue⁵⁶⁷⁸⁹⁴$16.1M in 2025+286% since 2019

Gross profit⁵⁶⁷⁸⁹⁴$11.4M in 2025+377% since 2019

Operating income⁵⁶⁷⁸⁹⁴-$41.3M in 2025+177% since 2019

Net income⁵⁶⁷⁸⁹⁴-$42.6M in 2025+180% since 2019

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Revenue	$16.1M	$10.7M
Cost of sales	$4.7M	$3.6M
Gross profit	$11.4M	$7.0M
Research and development	$20.6M	$17.0M
Selling, general and administrative	$32.1M	$23.1M
Total operating expenses	$52.6M	$40.1M
Operating loss	$41.3M	$33.1M
Net finance (income) expense	-$1.1M	-$1.4M
Net foreign exchange (gain) loss	$2.1M	-$3.8M
Total other (income) expenses	$1.1M	-$5.2M
Net loss before income taxes	$42.3M	$27.8M
Income tax expense (note 13)	$231.0K	$144.0K
Deferred tax (recovery) expense (note 13)	$21.0K	-$146.0K
Total income tax (recovery) expense	$252.0K	-$2.0K
Net loss attributed to shareholders for the year	$42.6M	$27.8M
Foreign currency translation adjustment	-$2.3M	$2.8M
Net loss and other comprehensive loss for the year	$40.3M	$30.6M
Basic net loss per common share (in dollars per share)	$1.41	$1.12
Diluted net loss per common share (in dollars per share)	$1.41	$1.12
Basic weighted average common shares outstanding (in shares)	30.2M shares	24.8M shares
Diluted weighted average common shares outstanding (in shares)	30.2M shares	24.8M shares

Total assets⁵⁶⁷⁸⁹⁴$77.5M in 2025+158% since 2019

Total liabilities⁵⁶⁷⁸⁹⁴$11.0M in 2025−30% since 2019

Shareholders’ equity⁶⁷⁸⁹⁴$66.4M in 2025+362% since 2019

Cash⁶⁷⁸⁹⁴$59.7M in 2025+304% since 2019

Long-term debt⁹⁴$4.5M in 2025−37% since 2022

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash	$59.7M	$54.9M
Trade and other receivables, net (note 3)	$7.2M	$7.0M
Inventory (note 4)	$8.2M	$5.8M
Prepaid expenses and deposits	$928.0K	$1.3M
Total current assets	$76.1M	$69.1M
Trade and other receivables, net (note 3)	$300.0K
Property and equipment, net (note 5)	$698.0K	$425.0K
Intangible assets, net (note 6)	$138.0K	$261.0K
Right-of-use assets, net (note 9)	$184.0K	$396.0K
Deferred tax assets, net (note 13)	$66.0K	$87.0K
Total assets	$77.5M	$70.2M
Accounts payable	$1.6M	$1.3M
Accrued expenses and other current liabilities (note 7)	$3.8M	$2.8M
Deferred revenue	$445.0K	$419.0K
Long-term debt (note 8)		$1.7M
Lease liabilities (note 9)	$213.0K	$257.0K
Income tax payable	$39.0K
Total current liabilities	$6.1M	$6.6M
Deferred revenue	$388.0K	$49.0K
Long-term debt (note 8)	$4.5M	$2.9M
Lease liabilities (note 9)		$203.0K
Other non - current liabilities (note 9)	$79.0K	$71.0K
Total liabilities	$11.0M	$9.8M
Common shares, no par value, unlimited shares authorized, 36,293,640 and 30,039,809 issued and outstanding at December 31, 2025 and 2024, respectively (note 10)	$323.8M	$281.6M
Additional paid-in capital	$25.3M	$21.3M
Accumulated other comprehensive income	$5.0M	$2.7M
Accumulated deficit	-$287.7M	-$245.2M
Total shareholders' equity	$66.4M	$60.4M	$31.2M
Total liabilities and shareholders' equity	$77.5M	$70.2M
Common stock, No par value	$0	$0
Common stock, Shares issued	36.3M shares	30.0M shares
Common stock, Shares outstanding	36.3M shares	30.0M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash	$59.7M	$54.9M
Trade and other receivables, net (note 3)	$7.2M	$7.0M
Inventory (note 4)	$8.2M	$5.8M
Prepaid expenses and deposits	$928.0K	$1.3M
Total current assets	$76.1M	$69.1M
Trade and other receivables, net (note 3)	$300.0K
Property and equipment, net (note 5)	$698.0K	$425.0K
Intangible assets, net (note 6)	$138.0K	$261.0K
Right-of-use assets, net (note 9)	$184.0K	$396.0K
Deferred tax assets, net (note 13)	$66.0K	$87.0K
Total assets	$77.5M	$70.2M
Accounts payable	$1.6M	$1.3M
Accrued expenses and other current liabilities (note 7)	$3.8M	$2.8M
Deferred revenue	$445.0K	$419.0K
Long-term debt (note 8)		$1.7M
Lease liabilities (note 9)	$213.0K	$257.0K
Income tax payable	$39.0K
Total current liabilities	$6.1M	$6.6M
Deferred revenue	$388.0K	$49.0K
Long-term debt (note 8)	$4.5M	$2.9M
Lease liabilities (note 9)		$203.0K
Other non - current liabilities (note 9)	$79.0K	$71.0K
Total liabilities	$11.0M	$9.8M
Common shares, no par value, unlimited shares authorized, 36,293,640 and 30,039,809 issued and outstanding at December 31, 2025 and 2024, respectively (note 10)	$323.8M	$281.6M
Additional paid-in capital	$25.3M	$21.3M
Accumulated other comprehensive income	$5.0M	$2.7M
Accumulated deficit	-$287.7M	-$245.2M
Total shareholders' equity	$66.4M	$60.4M	$31.2M
Total liabilities and shareholders' equity	$77.5M	$70.2M
Common stock, No par value	$0	$0
Common stock, Shares issued	36.3M shares	30.0M shares
Common stock, Shares outstanding	36.3M shares	30.0M shares

Cash from operations⁵⁶⁷⁸⁹⁴-$38.2M in 2025+154% since 2019

Capital spending⁷⁴$176.0K in 2025+450% since 2021

Free cash flow⁷⁴-$38.4M in 2025+71% since 2021

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Net loss for the year	-$42.6M	-$27.8M
Depreciation of property and equipment (note 5)	$373.0K	$707.0K
Amortization of intangible assets (note 6)	$187.0K	$229.0K
Non-cash lease expense adjustment	-$37.0K	-$38.0K
Share-based compensation (note 11)	$5.5M	$2.6M
Interest and accretion expense (note 8)	$63.0K	$600.0K
Change in amortized cost of trade and other receivables		-$307.0K
Trade and other receivables (note 3)	-$172.0K	$186.0K
Inventory (note 4)	-$2.8M	$656.0K
Prepaid expenses and deposits	$464.0K	$31.0K
Accounts payable, accrued expenses and other liabilities (note 7)	$378.0K	$815.0K
Deferred revenue	$371.0K	-$948.0K
Income taxes payable (note 13)	$42.0K
Deferred tax liabilities (note 13)		-$58.0K
Deferred tax assets (note 13)	$26.0K	-$91.0K
Net cash used in operating activities	-$38.2M	-$23.5M
Purchase of property and equipment (note 5)	-$176.0K
Purchase of intangible assets (note 6)	-$66.0K
Net cash used in investing activities	-$242.0K
Issuance of commons shares (note 10)	$42.4M	$62.1M
Payments of financing costs (note 10)	-$1.0M	-$4.9M
Repayments of long-term debt (note 8)	-$290.0K
Proceeds from the exercise of stock options (note 11)	$8.0K	$45.0K
Net cash provided by financing activities	$41.1M	$54.7M
Net increase in cash and cash equivalents	$2.7M	$31.2M
Effect of exchange rate changes on cash	$2.1M	-$2.5M

Compare Profound Medical Corp. with another company

Leadership

Who has led Profound Medical Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

Arun Swarup Menawat2025–now

Chief executive officerArun Swarup Menawat May 20, 2025 to now¹²

Board members and other officers (1)

Board memberArun Swarup Menawat May 20, 2025 to now¹²

Timeline

May 20, 2025New chief executive Arun Swarup Menawat becomes CEO¹²

Filings

199 filings to the SEC since October 2021: 5 annual reports, 5 quarterly reports, 46 major events, 1 insider forms, 21 large holders, 121 other. The latest 20:

Oct 14, 20268-K EDGAR
Oct 9, 20268-K EDGAR
Oct 7, 20268-K EDGAR
Sep 4, 20268-K EDGAR
Sep 3, 20268-K EDGAR
Aug 17, 20268-K EDGAR
Aug 17, 20268-K EDGAR
Aug 13, 20268-K EDGAR
Aug 6, 20268-K EDGAR
Aug 6, 202610-Q EDGAR
Jul 24, 20268-K EDGAR
Jul 16, 20268-K EDGAR
Jul 15, 20268-K EDGAR
May 19, 2026EFFECT EDGAR
May 15, 20268-K EDGAR
May 15, 2026CORRESP EDGAR
May 15, 2026UPLOAD EDGAR
May 14, 20268-K EDGAR
May 12, 2026S-3 EDGAR
May 7, 20268-K EDGAR

The 199 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 21 such filings since October 2021, the latest 10:

Jan 23, 2025SCHEDULE 13G/A
Nov 14, 2024SC 13G/A
Oct 11, 2024SCHEDULE 13G/A
Aug 5, 2024SC 13G/A
Mar 13, 2024SC 13G/A
Feb 13, 2024SC 13G/A
Feb 12, 2024SC 13G/A
Feb 9, 2024SC 13G/A
Jan 11, 2024SC 13G
Feb 13, 2023SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 56. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
FIL Ltd	2,370,000	$15.8M	0.0%	+30,000
Gagnon Securities LLC	1,960,074	$13.0M	2.5%	+15,750
Royce & Associates LP	1,199,564	$8.0M	0.1%	+83,216
Timelo Investment Management Inc.	1,114,967	$7.4M	9.3%	No change
Gagnon Advisors, LLC	962,186	$6.4M	4.1%	No change
First Eagle Investment Management, LLC	880,414	$5.9M	0.0%	+557,707
Rosalind Advisors, Inc.	828,118	$5.5M	2.1%	No change
Z3 Capital Partners, LLC	820,941	$5.5M	1.1%	+2,950
Letko, Brosseau & Associates Inc	935,725	$5.4M	0.1%	−17,450
MMCAP International Inc. SPC	671,356	$4.5M	0.4%	−73,796
Ardsley Advisory Partners LP	575,000	$3.8M	0.4%	No change
Ring Mountain Capital, LLC	511,917	$3.4M	1.4%	+812
Lagoda Investment Management, L.P.	501,325	$3.3M	1.8%	+60,310
Royal Bank Of Canada	491,495	$3.3M	0.0%	−1,565
DAFNA Capital Management LLC	260,360	$1.7M	0.3%	−2,645
Bleichroeder LP	254,753	$1.7M	0.3%	No change
Formula Growth Ltd	240,088	$1.6M	0.6%	−1,050
Thompson Davis & Co., Inc.	216,535	$1.4M	0.9%	+750
Dauntless Investment Group, LLC	208,369	$1.4M	2.4%	−32,370
Raymond James Financial Inc	189,116	$1.3M	0.0%	+38,959
National Bank Of Canada /fi/	218,698	$1.2M	0.0%	+1,523
CM Management, LLC	175,000	$1.2M	0.7%	No change
Velan Capital Investment Management LP	170,278	$1.1M	0.7%	−115,432
TD Waterhouse Canada Inc.	138,110	$933.6K	0.0%	−4,931
Perkins Capital Management Inc	114,280	$760.0K	0.6%	No change

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

Date	Member	Trade	Amount	Vs S&P since	Filing
Jul 21, 2020	Tom MalinowskiDemocratic, House	Buy	$1,001 - $15,000	−197.7%	Report
Jan 27, 2020	Tom MalinowskiDemocratic, House	Buy	$1,001 - $15,000	−185.9%	Report
Jan 14, 2020	Tom MalinowskiDemocratic, House	Buy	$1,001 - $15,000	−185.8%	Report
Dec 20, 2019	Tom MalinowskiDemocratic, House	Buy	$1,001 - $15,000	−176.7%	Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARProfound Medical Corp. filings on SEC EDGAR
2
Yahoo FinancePROF quote
3
SEC EDGARProfound Medical Corp. filings on SEC EDGAR
4
SEC EDGARProfound Medical Corp. 10-K for fiscal 2025
5
SEC EDGARProfound Medical Corp. 10-K for fiscal 2019
6
SEC EDGARProfound Medical Corp. 10-K for fiscal 2020
7
SEC EDGARProfound Medical Corp. 10-K for fiscal 2021
8
SEC EDGARProfound Medical Corp. 10-K for fiscal 2022
9
SEC EDGARProfound Medical Corp. 10-K for fiscal 2023
10
SEC EDGARProfound Medical Corp. 10-Q for fiscal 2026
11
SEC EDGARProfound Medical Corp. 10-Q for fiscal 2026
12
SEC EDGARArun Swarup Menawat, Chief executive officer