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  5. PRN: Could you please comment on results and outlook. [Profound Medical Corp.]
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Q: Could you please comment on results and outlook. Many thanks.

Asked by Alexandra on August 11, 2023
5i Research Answer:

With only $1.6M in sales (missing estimates by 24%) financial results are not particularly meaningful yet. EPS was -35c which matched estimates. EBITDA was negative $6.2M. Net cash is $35M. Net loss was $4.7M. All the revenue recorded was recurring revenue. R&D expenses were $3.2M. The outlook is largely the same, with regulatory and sales expectations high, but still uncertain. The stock has drifted from highs in June but nothing really has changed here. Mackie Research and Raymond James have recently cut their ratings, however. With $26M in negative cash flow in the last 12 months, PRN is probably going to need more capital soon. This may temper gains in the stock in the short term.