Profound Medical is a commercial-stage medical device company that makes MRI-guided, AI-powered systems to thermally destroy diseased tissue without incisions or radiation. Its core product is the TULSA-PRO system, used to treat prostate cancer and benign prostatic hyperplasia (BPH). TULSA-PRO works by inserting a robotically-controlled ultrasound catheter into the urethra, delivering precisely controlled thermal energy to destroy targeted prostate tissue while protecting surrounding structures. Real-time MRI imaging enables millimeter-level accuracy, and the procedure requires no incision, no blood loss, and no overnight hospital stay. Profound also sells the Sonalleve system, which delivers focused ultrasound externally to treat uterine fibroids, bone metastasis pain, and other conditions — though Sonalleve is a smaller, less prioritized product line. Profound sells primarily to hospitals, academic cancer centers, and outpatient surgical centers, targeting urologists and radiologists. The U.S. accounts for roughly 76% of revenue, served through a direct sales force, with partnerships with Philips, Siemens, and GE Healthcare for co-marketing. Revenue comes from capital equipment sales and recurring per-procedure disposable catheter kits plus service fees. Profound targets a roughly 70% recurring / 30% capital mix at maturity. CMS reimbursement, effective January 2025, unlocked the standard capital sales model and broadened patient access. Key growth drivers include expanding the installed base, increasing per-site utilization, CAPTAIN trial data supporting inclusion in treatment guidelines, a BPH software module that roughly triples the addressable market, and a TULSA+ bundled solution pairing TULSA-PRO with a lower-cost interventional MRI to reach outpatient and office-based settings.