Profound Medical stock surges 20% on raised Q3 revenue outlook

Profound Medical Corp's shares surged nearly 20% in after-hours trading after the company raised its Q3 2026 revenue guidance above Wall Street estimates. The medical device company anticipates third quarter revenue between $9.8 million and $10.0 million, a significant increase of 45% to 47% compared to the Bloomberg analyst consensus of $6.78 million.

This represents an 85% to 89% year-over-year growth from $5.3 million in the third quarter of 2025. The company also expects gross margin to exceed 70% for the quarter. CEO and Chairman Arun Menawat attributed the expected growth to increased commercial activity across the company's installed base and new customer accounts. Profound Medical develops and markets interventional MRI procedures, including its TULSA-PRO platform for MRI-guided prostate ablation and Sonalleve for treating bone metastases, desmoid tumors, and gynecologic conditions.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.