Profound Medical Corp PROF

Target 25 installations by YE, up from 14 as of Q2 Conf Call

[HomerAndCompany]

This increase in the rate of installations is to be facilitated by doubling the size of sales and installation teams by Q4. .

[MrMugsy]

Not sure I understand the numbers ... - 11 Procedure Centers in USA (one of them doubles as a learning center) - 1 additional learning center - 7 in Europe - 1 in Japan That's 20 in total Are they going to 25 in total (5 more)   - OR -   25 in the USA for 2021 ? Not much time in 2021 if they plan on getting to 25 in the USA alone - unless they're adding but not

[HomerAndCompany]

My understanding from the Q2 conference call was that they had 14 sites giving treatments at that time, with a target of 25 sites giving treatments by the end of 2021. Not all of the 20 sites you list are giving treatments, as you identifed one as a learning site only. I'd have to listen to the Q2 call again to try to reconcile the numbers. But more important than the specific numbers is the

[MrMugsy]

Thanks - I will have a closer listen.  I've heard so many numbers thrown around  that I'm now questioning  what the actual goal is by yearend.  Thanks.

[HomerAndCompany]

What seemed clear moreso than the exact numbers is that PRN views the past financial progress as slow (the consequence of a conservative approach taken with early installations they say) and expects that progress to speed up through a number of actions they are taking in Q4 and 2021, as well as the snowballing effect from existing installations ramping up.

[MrMugsy]

Just listened to the Q2 again. Today - 14 installs with 10 treating patients (USA). 20 new installs over the next 12 months. Approximately 25 installs in the USA by end of 2021. ----- Thanks again.

[HomerAndCompany]

Thank you MrMugsy! They said that they'd be doing 7-8 installations per quarter in 2022 (and then up to 10 per quarter after 2022) with the doubled (by Q3 2021) sales and installation teams. That rate of 7-8 installations per quarter must be what they ramp up to late in 2022, otherwise just 20 installs over the next 12 months seems low. It also seems low given that they expect to go from 14

[MrMugsy]

Yes ! Treatments per site ... 40 per year to start ... some are now at 60-70 (or more) per year ... goal is 100 per year per site. Arun has 100 sites on his mind but I didn't catch how long it would take to get there. He talks about ... 100 sites x 100 procedures/yr x $7,700 per ablation. Also said they signed 6 new hospital deals for later this year (must be part of the 25 expected). And .

[HomerAndCompany]

Those numbers makes sense. If you take the 1.2 million Q2 revenue and divide it by 10 sites treating patients and then divide that by $7710 per treatment you get 16 treatments average per site in Q2. That's an average of 64 treatments per site on an annualized basis. So it would seem that these 10 sites are already well on their way to that goal of 100 per year per site - which would be $771