Canadian Halal Investor.

TSX Shariah screener · September 2026

Is Profound Medical (PRN) Halal?

FAIL

Profound Medical · TSX: PRN / Nasdaq: PROF · Health Care

The short answer

Profound Medical Corp. (TSX: PRN; Nasdaq: PROF) is a FAIL. The income gate fails: net finance income of US$336K in Q2 2026 - primarily interest income from cash, per management's discussion - is about 8.3% of total income, above the ~5% ceiling. The business gate passes (commercial-stage medical devices: TULSA-PRO and Sonalleve; no standard prohibited activities). The debt gate passes: interest-bearing debt of US$4,507K is about 2% of the ~US$211M market cap - well under the ~33% ceiling. The cash gate passes: US$38,271K cash is about 18% of market cap. One failed gate suffices. No Zoya, Musaffa or ShariaPortfolio coverage was found. As with every screener here, this is a rules-based screening of published figures, not a religious ruling - consult a qualified scholar for personal guidance.

Gate 1 — Business activity: PASS

Profound Medical Corp. is a commercial-stage medical device company (incorporated in Ontario, headquartered in Mississauga) that develops and markets MRI-guided, incision-free therapeutic systems for the ablation of diseased tissue. Its flagship platform, TULSA-PRO, enables MRI-guided transurethral ultrasound ablation of prostate tissue - FDA-cleared in the United States, with 84 systems installed at the end of Q2 2026 and physician-adoption momentum (CAPTAIN Level 1 post-market data). It also commercializes Sonalleve, an MRI-guided therapy for pain palliation of bone metastases, desmoid tumors and osteoid osteoma (FDA HDE in the US) and gynecologic conditions including uterine fibroids and adenomyosis. None of the standard AAOIFI prohibited business activities (conventional banking and insurance, alcohol, gambling, weapons, pork, adult entertainment) are part of its operations, so the business-activity gate passes. This is the same kind of business-activity pass as this site's Extendicare, Knight Therapeutics and Medical Facilities screens.

Gate 2 — Debt and cash: PASS / PASS

Both components of the balance-sheet gate pass comfortably. At June 30, 2026 the company carried interest-bearing long-term debt of US$4,507K (the CIBC loan, classified as current since it matures within twelve months; US$4,499K non-current at December 31, 2025), which is about 2% of the ~US$211M market cap (US$211.07M, Danelfin, September 29, 2026; 36,532,594 shares outstanding per the 10-Q) - well under the ~33% ceiling. Lease liabilities of US$2,873K (US$119K current + US$2,754K non-current) are excluded as non-interest-bearing. Cash of US$38,271K is about 18% of market cap - also comfortably under the ~33% ceiling, so the cash component passes. The company is not a heavy borrower; its Q2 2026 net loss of US$9.5M was funded from its cash balance, down from US$59,723K at December 31, 2025.

Gate 3 — Non-compliant income: FAIL

The 10-Q reports net finance income of US$336K for Q2 2026; management's discussion attributes it primarily to interest income from cash. Total income for the quarter was US$4,064K (revenue of US$2,483K plus net finance income of US$336K plus a net foreign exchange gain of US$1,245K), so interest income is about 8.3% of total income - above the ~5% ceiling. This fails the income gate on its own, which is the deciding gate for this stock.

Key figures used

Frequently asked questions

Is Profound Medical (PRN) halal?

Our September 2026 screen gives Profound Medical Corp. (TSX: PRN; Nasdaq: PROF) a FAIL. The business gate passes: it is a commercial-stage medical device company (TULSA-PRO MRI-guided prostate ablation, cleared by the FDA; Sonalleve MRI-guided therapy, FDA HDE for osteoid osteomas) with none of the standard prohibited activities in operations. The debt gate passes: interest-bearing long-term debt of US$4,507K is about 2% of the ~US$211M market cap (US$211.07M, Danelfin, September 29, 2026; 36,532,594 shares) - well under the ~33% ceiling. The cash gate passes: cash of US$38,271K is about 18% of market cap. The income gate fails: net finance income of US$336K in Q2 2026 - primarily interest income from cash, per management's discussion - is about 8.3% of US$4,064K total income (US$2,483K revenue + US$336K net finance income + US$1,245K FX gain), above the ~5% ceiling. One failed gate suffices. No Zoya rating, no Musaffa stock page and no ShariaPortfolio coverage for Profound Medical was found via web search. This is a rules-based screening of published figures, not a religious ruling.

Why does PRN fail the income gate?

Profound Medical's Q2 2026 10-Q reports net finance income of US$336K for the quarter ended June 30, 2026, against revenue of US$2,483K; management's discussion attributes the finance income primarily to interest income from cash. Total income for the quarter was US$4,064K (revenue US$2,483K plus net finance income US$336K plus a net foreign exchange gain of US$1,245K), so the interest income is about 8.3% of total income - above the ~5% ceiling used in AAOIFI-style screening. The company fails this gate on its own; the business and balance-sheet gates pass.

Does Profound Medical carry a lot of debt?

No, by Shariah-screening standards it does not. At June 30, 2026, Profound carried interest-bearing long-term debt of US$4,507K (the CIBC loan, classified as current since it matures within twelve months; it stood at US$4,499K non-current at December 31, 2025), which is about 2% of the ~US$211M market cap - well under the ~33% ceiling. Lease liabilities of US$2,873K are excluded as non-interest-bearing. Cash of US$38,271K is about 18% of market cap, also comfortably under the ~33% ceiling. Both the debt and cash components of the balance-sheet gate pass.

What does Profound Medical do?

Profound Medical Corp. is a Mississauga-based commercial-stage medical device company focused on MRI-guided, incision-free therapies for ablating diseased tissue. Its flagship platform, TULSA-PRO, enables MRI-guided transurethral ultrasound ablation of prostate tissue (FDA-cleared), with an installed base of 84 systems at the end of Q2 2026. It also commercializes Sonalleve, an MRI-guided therapy for pain palliation of bone metastases, desmoid tumors and osteoid osteoma (FDA HDE) and gynecologic conditions including uterine fibroids and adenomyosis. Q2 2026 revenue was US$2.5M (+12% YoY) and the company reiterated full-year 2026 revenue guidance of approximately US$25M. The business gate passes; the stock fails only the income gate.

What do Zoya, Musaffa or ShariaPortfolio say about PRN?

No Zoya rating, no Musaffa stock page and no ShariaPortfolio coverage for Profound Medical (PRN / PROF) was found via web search. The figures behind this screen's result come from Profound's official Q2 2026 Form 10-Q (quarter ended June 30, 2026, filed August 6, 2026), the company's Q2 2026 press release, and market data as of September 29, 2026. This page records a rules-based screening of published figures and issues no fatwa - consult a qualified scholar for personal guidance.

Sources

Screened 2026-09-30 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.