Profound Medical Corp. (NASDAQ:PROF) Q2 2022 Results Conference Call August 4, 2022 4:30 PM ET

Company Participants

Stephen Kilmer - IR

Dr. Arun Menawat - CEO

Rashed Dewan - CFO

Conference Call Participants

Frank Takkinen - Lake Street Capital Markets

Zach Weiner - Jefferies

Rahul Sarugaser - Raymond James

Operator

Welcome to the Profound Medical Second Quarter 2022 Financial Results Conference Call. My name is Darryl, and I’ll be your operator for today’s call. [Operator Instructions]

I will now turn the call over to Stephen Kilmer, Investor Relations. Stephen, you may begin.

Stephen Kilmer

Thank you, Darryl. Good afternoon, everyone. Let me start by pointing out that this conference call will include forward-looking statements within the meaning of applicable securities laws in the United States and Canada. All forward-looking statements are based on Profound’s current beliefs, assumptions and expectations, and relate to, among other things, expectations regarding the efficacy of the company’s treatment technologies, results of future clinical trials, the ability to obtain coding and/or reimbursement from third-party payers, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. No forward-looking statement can be guaranteed.

Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this conference call. Profound undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

For the benefit of those who are new to the Profound story, I would also like to take a moment to summarize our business. Profound develops and markets customizable incision-free therapies for the ablation of diseased tissue. We are currently commercializing TULSA-PRO, a technology that combines real-time MRI robotically-driven transurethral ultrasound and closed-loop temperature feedback control. The technology is designed to provide customizable and predictable radiation-free ablation of a surgeon defined prostate volume while actively protecting the urethra and rectum to help preserve the patient’s natural function mobilities.

TULSA-PRO is CE marked, Health Canada approved and 510 cleared by the FDA. In the U.S., we employ a pure recurring revenue model for TULSA-PRO, whereby we charge customers on a per procedure basis for TULSA-PRO consumables, lease of medical devices and services associated with extended warranties. Outside of the United States, we primarily deploy a capital and consumable sales and service model separately as the situation warrants that.