Profound Medical Corp. (NASDAQ:PROF) Q1 2022 Earnings Conference Call May 9, 2022 4:30 PM ET
Company Participants
Dr. Arun Menawat – Chief Executive Officer and Chairman of the Board
Rashed Dewan – Chief Financial Officer
Stephen Kilmer – Investor Relations
Conference Call Participants
Rahul Sarugaser – Raymond James
Frank Takkinen – Lake Street Capital Markets
Josh Jeggings – Cowen and Company
Scott McAuley – Paradigm Capital
Brian Gagnon – Gagnon Securities
Operator
Good day, and thank you for standing by. Welcome to the Profound Medical First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Stephen Kilmer of Investor Relations. Please go ahead.
Stephen Kilmer
Thank you. 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 in both known and unknown risks and 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're currently commercialized 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 from -- to help preserve the patient's natural functional abilities. TULSA-PRO is CE marked, Health Canada approved, and 510(k) cleared by the FDA. In the U.S., we employ a pure recurring revenue model for TULSA-PRO, whereby we charge customers around $8,000 on a per-procedure basis for TULSA-PRO consumables, lease of medical devices, and services associated with extended warranties.