Profound Medical Third Quarter 2024 Earnings: Misses Expectations

Profound Medical (TSE:PRN) Third Quarter 2024 Results

Key Financial Results

• Net loss: US$9.36m (loss widened by 68% from 3Q 2023).
• US$0.38 loss per share (further deteriorated from US$0.26 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Profound Medical Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in North America.

Performance of the market in Canada.

The company's shares are up 16% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Profound Medical that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.