Profound Medical (TSE:PRN) has released an update.
Profound Medical Corp. reported a 60% increase in recurring revenue for Q4 2023 over the previous year, with total revenue reaching $2.0 million driven by their TULSA-PRO systems, which are expected to grow in installations. The company also highlighted the progress of their CAPTAIN trial and a new collaboration with Siemens Healthineers, along with the promotion of Mathieu Burtnyk to Chief Operating Officer. While revenues are up, total operating expenses also rose by 5% to $9.8 million due to increased R&D efforts and personnel investments.
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