普罗丰迈迪克公司2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Table of Contents EXPLANATORY NOTE Profound Medical Corp. (the “Company”) qualifies as a “Foreign Private Issuer,” as defined in Rule 3b-4under the Securities Exchange Act of 1934 (the “Exchange Act”) and is exempt from filing quarterly reports onForm 10-Q by virtue of Rules 13a-13 and 15d-13 under the Exchange Act. The Company has voluntarily elected Table of Contents PART I.Financial Information Item 1.Condensed Consolidated Financial StatementsCondensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024(Unaudited)Condensed Consolidated Statements of Operations and Comprehensive Loss for the ThreeMonths Ended March 31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Shareholders’ Equity for the Three Months Ended March31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025and 2024 (Unaudited)Notes to Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPARTII.Other InformationItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures Profound Medical Corp.CONDENSED CONSOLIDATED BALANCE SHEETS Profound Medical Corp.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHESIVE LOSS Profound Medical Corp.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Profound Medical Corp.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1Description of business Profound Medical Corp. (Profound) and its subsidiaries (together, the Company) were incorporatedunder the Ontario Business Corporations Act on July 16, 2014. The Company is a commercial-stagemedical device company focused on the development and marketing of customizable, incision-free The Company’s registered address is 2400 Skymark Avenue, Unit 6, Mississauga, Ontario, Canada, Summary of significant accounting policies Basis of preparation The Company prepares its condensed consolidated financial statements in accordance with accountingprinciples generally accepted in the United States (US GAAP). The condensed consolidated financialstatements include the accounts of wholly owned subsidiaries, after elimination of intercompany Unaudited interim condensed financial statements The accompanying balance sheet as of March 31, 2025, the statements of operations and comprehensiveloss and cash flows for the three months ended March 31, 2025 and 2024, and the statements ofshareholders’ equity as of March 31, 2025 and 2024, are unaudited. The financial data and otherinformation disclosed in these notes to the financial statements related to March 31, 2025, and the threemonths ended March 31, 2025 and 2024, are also unaudited. The accompanying balance sheet as of The unaudited interim condensed financial statements have been prepared on the same basis as theannual consolidated financial statements and, in the opinion of management, reflect all adjustments,which include only normal recurring adjustments, necessary to a fair statement of the Company’sfinancial position as of March 31, 2025, and the results of its operations and cash flows for the threemonths ended March 31, 2025 and 2024. The results for the three months ended March 31, 2025, are not Use of estimates The preparation of the Company’s unaudited interim condensed consolidated financial statements inconformity with US GAAP requires management to make estimates and assumptions that affect thereported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date ofthe unaudited interim condensed consolidated financial statements, and the reported amounts of revenueand expenses during the reporting period. Significant estimates and assumptions reflected in theseunauditedinterim condensed consolidated financial statements include,but are not limited to,assumptions related to the valuation of inventory, the determination of the amortized cost of trade and Recent Accounting Pronouncements The FASB issued ASU 2024-03 in November 2024 and ASU 2025-01 in January 2025 clarifying theeffective date of ASU 2024-03, Income Statement - Reporting Comprehensive Income - ExpenseDisaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, anaccounting standard update to improve income statement expenses disclosures. The standard requiresmore detailed information related to the types of expenses, incl