Profound Medical Corp.

Good day, everyone, and thank you for standing by. Welcome to the Profound Medical Second Quarter 2025 Financial Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an out-of-minute message advising your hand is raised. Please note that today's conference is being recorded. I will now hand the conference over to your speaker host. Stephen Kilmer, Head of Investor Relations. Please go ahead.

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 current beliefs, assumptions, and expectations and relate to, among other things, any expressed or implied statements regarding future financial performance and position or and expectations regarding the efficacy of profound technologies in the treatment of prostate cancer, BPH, uterine fibroids, palliative pain treatment, and osteoid osteoma. Such statements involve known and unknown risks, 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 statement, whether as a result of new information, future events, or otherwise, other than it's required by law. Representing the company today are Dr. Arun Benawad, Profound's Chief Executive Officer, Rashed Dhawan, the company's Chief Financial Officer, Dr. Matthew Burtmick, Profound's President, and Tom Tamburino, our Chief Commercial Officer. With that said, I'll now turn the call over to Rashed.

Good afternoon, everyone, and welcome to our second quarter 2025 conference call. On behalf of the management team and everyone at Profound, I would like to thank you for your ongoing interest in our company. For those of you who are shareholders, we appreciate your continued interest and support. I will turn the call over to Tom in a moment to provide commercial updates. Before I do, I would like to provide a brief summary of our second quarter 2025 financial results. To streamline things, all of the numbers I will refer to have been rounded, so they are approximate. For the three-month period ended June 30, 2025, the company received total orders of over $3 million and recorded revenue of $2.2 million, with $1.6 million coming from recurring revenue and $650,000 from one-time sale of capital equipment. Second quarter 2025, revenue was essentially unchanged from the same period in 2024. Gross margin in Q2 2025 was 73 percent compared to 64 percent in Q2 2024. Total operating expenses in the 2025 second quarter, which consists of R&D and SG&E expenses were 15.4 million compared with 9.3 million in the second quarter of 2024. Overall, the company recorded a second quarter 2025 net loss of $15.7 million or $0.52 per common share compared to a net loss of $6.9 million or $0.28 per common share for the same three-month period in 2024. As of June 30, 2025, profound head cash of $35.2 million. With that, I will now turn the call over to Tom.