Profound Medical Corp (PROF)

[hayfarmer]

The call went very well. Revenue was 1.56 million. RJ analyst had lowered estimate from 2 million to 1 million due to covid delays so they beat his updated estimate. They have a 3 prong approach to installations and one of them is teaching hospitals and of course that is delayed. They had project 20 installations by year end (RJ analyst has been using 10 and recently lowered to 7) and now say 20 may not happen until Q1 or Q2 of 2021.

They said for unsolicited reviews of procedure go to inspire.com and search for "tulsa"

Other updates:

One Dr commented the way he looks at it when he evaluates a patient he is considering when not to use tulsa instead of when to use----sounds like it's SOC at least for that Dr.

adding to list of facilities interested so even though delays with teaching hospitals now they seem to indicate they can make up for this with the other 2 prongs (although of note, they are pushing back the time to get to 20 installations in the US)

warrant conversion so cash position higher than expected , 60 million vs 53 million RJ estimate (if I heard this right...I want to listen again)

4 x number of procedures per week at 2nd installation vs 1st installation - RJ analyst impressed

may be able to use cost plus existing insurance code for mri intervention. This could be a huge plus as they thought 3 years until insurance coverage but it could happen much faster. They will let hospitals determine this and have to wait for them to open back up for determination.