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MISSISSAUGA, Ontario, Canada - Profound Medical (TASE:BLWV) Corp. (NASDAQ:PROF), a medical instruments company with a market capitalization of $122.26 million and impressive revenue growth of 64% over the last twelve months, disclosed the outcomes of its Annual General and Special Meeting of Shareholders on May 14, 2025, in a recent SEC filing. According to InvestingPro data, the company generated revenues of $11.86 million in the past year. Shareholders voted on three key proposals, including the election of directors, auditor appointment, and approval of unallocated options under the share option plan.
The election saw the reappointment of six director nominees, with each receiving a majority of votes for their continued service until the next annual meeting. The detailed results highlighted strong shareholder support, with the percentage of votes "For" ranging from 92.438% to 97.005%. Analyst consensus from InvestingPro shows strong confidence in the company’s direction, with price targets ranging from $11.00 to $15.25.
Additionally, shareholders approved the appointment of PricewaterhouseCoopers LLP as the company’s auditors, with an overwhelming 99.489% of votes in favor. This decision also includes the authorization for the Board to fix the auditors’ remuneration.
The third proposal, regarding the approval of all unallocated options under the Company’s share option plan, received 68.271% votes in favor, thus passing the resolution.
This SEC filing underscores the company’s adherence to corporate governance practices and shareholder engagement. The results of the vote were based on the management information circular filed on April 22, 2025, and reflect the shareholders’ confidence in the company’s leadership and strategic direction.
Profound Medical Corp., listed under the ticker PROF on The Nasdaq Stock Market, specializes in surgical and medical instruments and apparatus. The company’s headquarters are located at 2400 Skymark Avenue, Unit 6, Mississauga, Ontario, Canada.
In other recent news, Profound Medical announced a significant revenue increase of 82% for Q1 2025 compared to the same period last year, reaching $2.6 million. Despite this growth, the company reported a net loss of $10.7 million, reflecting challenges in scaling its operations amidst high operating expenses. The introduction of the TULSA AI Volume Reduction Module was highlighted as a strategic move to expand the company’s market potential in prostate disease treatment. Analysts noted that Profound Medical maintains its revenue growth guidance of 70-75% for 2025, anticipating a back-end loaded performance. The company is focusing on expanding its commercial efforts both in the U.S. and internationally. Additionally, Profound Medical’s recent presentation at the American Urological Association meeting featured the CAPTAIN trial data, which compared the TULSA technology favorably against robotic radical prostatectomy. The company also discussed its new TULSA AI module for BPH, which is expected to significantly increase the addressable market and efficiency for surgeons. Profound Medical’s ongoing efforts to enhance its market presence and product offerings signal its commitment to driving growth despite current financial challenges.
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