Profound Medical Sees Q3 Revenue Up to 47% Above Estimates
PROF sits 25% above its 52-week low of $4.8.
Summary
Profound Medical expects Q3 revenue of $9.8M-$10.0M, up 85-89% YoY and 292-300% QoQ, with gross margin above 70%, a significant upside surprise for a company with a market cap around $208 million. This follows Q2 revenue of $2.48 million, up 12% year-over-year, and a reiterated full-year guidance. The company has been building momentum with new TULSA-PRO adoptions and recent management changes, including a new CFO and President. The magnitude of the potential beat suggests accelerating commercial traction for its prostate cancer treatment system. Investors will look for confirmation when Q3 results are reported, likely in early November.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Profound Medical expects Q3 revenue of $9.8M-$10.0M, up 85-89% YoY and 292-300% QoQ, with gross margin above 70%.
At the time of this announcement, PROF was trading at $6.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $207.5M. The 52-week trading range was $4.80 to $8.95. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.