04:32 PM EDT, 05/08/2025 (MT Newswires) -- Profound Medical ( PROF ) on Thursday said its first-quarter loss widened despite an 82% rise in revenue.

The medical device company lost US$10.7 million, or US$0.36 per share, was wider than the of US$6.6 million, or US$0.27, loss in the prior year period.

Revenue rose 82% to US$2.6 million. Of this, $1.8 million was from recurring, non-capital revenue, consisting of the sale of TULSA-PRO consumables, lease of capital equipment and services associated with extended warranties, and US$820,000 from the one-time sale of capital equipment. The company continued to see a wide range of prostate disease patients treated by its TULSA-PRO technology during the quarter.

"Revenue growth trajectory in the first quarter compared to last year was in-line with our internal expectations, gross margin continued to be strong, and AUA 2025 was a very successful meeting for us across the board - at our booth, the clinical presentation podium and our investor event," said Arun Menawat, chief executive officer. "TULSA's precision, flexibility, and resulting total available market in prostate disease is unmatched by any competing technology. And TULSA's economic proposition is now clear as well."

The company's shares closed up $0.31 to $6.90 on the Toronto Stock Exchange.