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Profound Medical shares rose in after-hours trading on Wednesday, October 7, after the medical-device company forecast third-quarter revenue of $9.8 million to $10.0 million. The preliminary, unaudited range is about 45% to 47% above the $6.78 million Bloomberg analyst consensus cited by the company, and Profound said gross margin was expected to exceed 70%.
The update came after the close of regular trading. Investing.com reported a 19% after-hours gain following the announcement. The revenue outlook also implied a sharp rebound from the $2.5 million reported for the second quarter and higher sales than the $5.3 million recorded in the third quarter of 2025. Profound said the final quarterly results are scheduled for release after market close on November 5.
Preliminary forecast points to a record quarter
Profound’s October 7 release described the expected third-quarter revenue as a company record. The projected $9.8 million to $10.0 million would represent year-over-year growth of approximately 85% to 89%, and a sequential increase of roughly 292% to 300% compared with the second quarter. The company said its Bloomberg consensus comparison was based on estimates compiled at 9:02 a.m. Eastern time on October 7.
The margin estimate was another part of the update: Profound expects gross margin to exceed 70% for the quarter. That would be consistent with its stated longer-term gross-margin target and with the 78% gross margin it reported for the second quarter. Revenue and margin remain estimates, however, and the company cautioned that the preliminary figures are unaudited and actual results may differ.
CEO and Chairman Arun Menawat attributed the projected growth to increased commercial activity among existing customers and new accounts. He said the quarter marked an important step in expanding the company’s commercial business, while identifying customer adoption and greater use of installed systems as ongoing priorities. The release did not provide a breakdown of expected third-quarter sales by product, customer, or geography.
Second-quarter shipment timing shaped the comparison
The sequential jump needs context. In its August 6 second-quarter report, Profound said approximately $3.1 million of TULSA product shipments expected during the final week of June were completed in July. The company said the timing affected when revenue was recognized, rather than customer demand or order activity, and that the logistics issue had been resolved.
Profound reported second-quarter revenue of about $2.5 million, up 12% from a year earlier. It said revenue would have been approximately $5.6 million, or 153% higher year over year, if the delayed shipments had been recognized in that quarter. With that timing shift, the subsequent third-quarter comparison is against a lower reported base; the preliminary forecast is not, by itself, evidence that sales rose nearly fourfold from the underlying level of customer orders in the preceding quarter.
The company also reported more than $7 million in new purchase orders during the second quarter, a quarterly record, and said about $2.5 million of those orders were recognized as revenue in the period. It reported that the TULSA-PRO installed base stood at 84 systems at quarter-end and put the qualified sales pipeline for TULSA-PRO and Sonalleve at approximately $70 million. Profound cautioned that there is no assurance about how much of that pipeline will become recognized revenue, or when.
Commercial adoption is central to the growth case
Profound develops and markets interventional MRI procedures. Its flagship TULSA-PRO system enables MRI-guided ablation of prostate tissue without an incision; the company also sells Sonalleve, an MRI-guided therapy platform used for several conditions. The company’s commercial results therefore depend not only on placing systems with providers but also on customer adoption and use of its technologies.
In its second-quarter report, Profound said payer coverage for the TULSA Procedure expanded by about 18.3 million covered lives during the quarter, mainly through state Medicaid and managed Medicaid programs. It also announced that employee health plans at Johns Hopkins and Prime Healthcare had listed the procedure as a covered service. These coverage developments were reported before the third-quarter revenue update; the company did not quantify their contribution to the preliminary sales figure.
Profound said in August that it was maintaining its full-year 2026 revenue outlook of approximately $25 million, representing 56% growth from 2025, and expected full-year gross margin of at least 70%. The October announcement provided a stronger near-term revenue estimate but did not announce a change to that annual outlook. Whether the preliminary quarter translates into sustained growth will become clearer through the final results and later company updates.
Full results are scheduled for November 5
Profound plans to publish its complete third-quarter 2026 financial results after market close on Thursday, November 5, and hold a conference call at 4:30 p.m. Eastern time. The company said the call will cover the results and business developments in the period. Until then, the revenue range and margin expectation remain preliminary, unaudited estimates rather than reported quarterly results.
The immediate market catalyst was the size of the projected revenue beat against the cited analyst consensus, alongside the expected gross margin above 70%. The announcement offers investors a company-reported indicator of commercial activity, but it does not yet establish the quarter’s final revenue, the durability of demand, or the extent to which the second-quarter shipment timing affected sequential comparisons.
