Financial Performance - Revenue for the three months ended March 31, 2025, was $69,162,000, representing a 55.5% increase from $44,539,000 in the same period of 2024[15] - Gross profit for the same period was $44,161,000, up from $25,034,000, indicating a gross margin improvement[15] - Net loss for Q1 2025 was $24,737,000, a slight improvement compared to a net loss of $25,957,000 in Q1 2024[15] - Total stock-based compensation recognized for the three months ended March 31, 2025, was $10.1 million, compared to $6.3 million for the same period in 2024, indicating a year-over-year increase of approximately 61.5%[45] - U.S. revenue accounted for 87% of total revenue in Q1 2025, compared to 90% in Q1 2024[60] Operating Expenses - Total operating expenses increased to $71,599,000 in Q1 2025 from $52,683,000 in Q1 2024, primarily due to higher research and development costs[15] Cash and Liquidity - Cash and cash equivalents at the end of Q1 2025 were $316,207,000, down from $336,763,000 at the beginning of the period[20] - The company reported a net cash used in operating activities of $16,980,000 for Q1 2025, compared to $32,286,000 in Q1 2024[20] - Total cash and cash equivalents decreased from $333.7 million as of December 31, 2024, to $316.2 million as of March 31, 2025, representing a decline of approximately 5.0%[29] Assets and Liabilities - Total current assets decreased to $465,791,000 as of March 31, 2025, from $481,800,000 as of December 31, 2024[13] - Total liabilities as of March 31, 2025, were $130,218,000, a slight decrease from $131,700,000 as of December 31, 2024[13] Stock and Equity - The company issued 560,000 shares of common stock under stock plans during the first quarter of 2025, increasing total shares outstanding to 55,278,000[17] - The weighted-average common stock outstanding increased to 54.917 million shares in Q1 2025 from 51.011 million shares in Q1 2024[53] Inventory and Property - Total inventory rose from $56.2 million as of December 31, 2024, to $62.3 million as of March 31, 2025, marking an increase of approximately 10.0%[31] - Total property and equipment, net, increased from $26.7 million as of December 31, 2024, to $28.1 million as of March 31, 2025, a growth of about 5.3%[32] Debt and Interest - The Company achieved a twelve-month revenue target of $200 million as of December 31, 2024, which allowed for an extension of the interest-only period on the Term Loan Facility[35] - The weighted-average interest rate for the Term Loan Facility decreased from 7.8% for the period ending March 31, 2024, to 6.6% for the period ending March 31, 2025[36] - Future minimum annual debt repayments total $52 million, with $8.67 million due in 2026 and $43.33 million due in 2027[38] Stock-Based Compensation - The Company recorded a total of $10.7 million of unrecognized stock-based compensation expense related to stock options as of March 31, 2025[47] - The fair value of options granted to employees was estimated at a weighted-average fair value of $35.00 for the three months ended March 31, 2025[47] - As of March 31, 2025, the total unrecognized stock-based compensation expense related to RSUs was $99.6 million[48] - The Company awarded 683,000 RSUs during the three months ended March 31, 2025, with a weighted-average fair value of $61.15[48] Employee Contributions - Employer contributions to the defined contribution retirement savings plan were $0.9 million for the three months ended March 31, 2025[64] Segment Information - The Company operates as a single operating segment, with no customers accounting for more than 10% of revenue during the three months ended March 31, 2025[58]

SAN JOSE, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, announced today that members of management will present at four upcoming investor conferences in May and June. 2025 Bank of America Health Care Conference Location – Las Vegas, NVFireside Chat – Wednesday, May 14 at 3pm PT / 6pm ET 45th Annual William Blair Growth Stock Conference Location – ...

Investor Event This presentation regarding the Company shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Sales and offers to sell PROCEPT BioRobotics securities will only be made in accordance with the Securities Act of 1933, as ame ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $69.2 million, representing a growth of 55% compared to Q1 2024 [7][29] - Gross margin for Q1 2025 was 63.9%, consistent with Q4 2024 and up 750 basis points year-over-year [35] - Net loss for Q1 2025 was $24.7 million, compared to a net loss of $26 million in the same period of the prior year [37] Business Line Data and Key Metrics Changes - US revenue for Q1 2025 was $60.3 million, representing a growth of 50% compared to the prior year [29] - The company sold 43 robotic systems in Q1 2025, with an average selling price of approximately $435,000 [31] - US handpiece revenue for Q1 2025 was $38 million, representing a growth of 61% year-over-year, with 11,235 handpieces sold [33] Market Data and Key Metrics Changes - International revenue in Q1 2025 was $8.9 million, representing growth of 104% compared to the prior year, primarily driven by strong sales in the UK [26][34] - The US installed base of robotic systems reached 547, reflecting a growth of 55% compared to the prior year [8] Company Strategy and Development Direction - The company is focused on expanding the installed base of Hydro systems in greenfield accounts while also seeing interest from existing customers for replacements [39] - The management believes that the current tariff environment will not compromise the path to achieving long-term profitability objectives [44] - The company aims to standardize aquablation therapy across hospital networks, driven by consistent outcomes and operational efficiency [22][112] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue growing the installed base and procedural volumes despite macroeconomic challenges [25] - The company anticipates a modest impact on 2025 gross margin due to strong inventory positions and limited exposure to foreign suppliers [11][53] - Management highlighted the positive changes in Medicare coverage that will expand access to aquablation therapy [15][126] Other Important Information - The company is preparing for the AUA conference, where it will present significant clinical data related to aquablation therapy [47][49] - The management is actively evaluating operational strategies to mitigate future tariff exposure [44][102] Q&A Session Summary Question: Can you discuss the CapEx environment and buyer interest in the system? - Management has not seen an impact on capital interest in acquiring Hydro systems, with a strong pipeline and high hospital interest [59][60] Question: How many handpieces sold in Q1 were pushed from Q4? - The impact from deferrals in Q4 was largely offset by the saline issue, resulting in Q1 procedures driven by business strength [66] Question: Can you provide more color on procedure volume growth in March? - March showed a return to normalcy, with guidance for Q2 and Q3 assuming similar utilization rates to Q1 [71][72] Question: What is the current utilization in IDN accounts? - Utilization is driven by surgeons, with IDNs showing interest in educating staff to increase patient volume for aquablation [108][110] Question: How is the company balancing growth in OUS markets? - The company is focusing on the UK as a key market while ensuring disciplined growth strategies [86][87] Question: What are the implications of the recent LCD changes? - The removal of certain limitations will streamline patient pre-workup and expand access to aquablation therapy [126][128]

Core Insights - PROCEPT BioRobotics Corporation is showcasing its leadership in BPH treatment through extensive scientific presentations and workshops at the 2025 AUA Annual Meeting [1][2] - Aquablation therapy is highlighted as a transformative solution for BPH, offering durable symptom relief with minimal side effects [2][15] Company Overview - PROCEPT BioRobotics focuses on advancing urologic care through innovative surgical robotics, specifically the AQUABEAM and HYDROS Robotic Systems [15] - The company aims to revolutionize BPH treatment globally, impacting approximately 40 million men in the United States [15] Clinical Data and Presentations - Clinical presentations at AUA will emphasize long-term outcomes, safety, and durability of Aquablation therapy [2] - A series of thought leader presentations will take place, featuring insights from various experts on the role of Aquablation in modern urology [3][4][5][6][7] Event Activities - PROCEPT's booth will host hands-on demonstrations of the HYDROS Robotic System, allowing urologists to explore the technology and discuss clinical experiences [8] - The AUA Scientific Program will feature multiple podium and poster presentations focused on Aquablation therapy [9][10] Technology and Innovation - Aquablation therapy is described as the first ultrasound-guided, robotic-assisted, heat-free waterjet treatment for BPH, allowing for personalized treatment planning [13] - The technology enables precise and controlled removal of prostate tissue while preserving critical anatomical functions [13]

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Q1 2025 Earnings Conference Call April 24, 2025 8:00 AM ET Company Participants Matt Bacso - Vice President, Investor Relations & Business Operations Reza Zadno - President & Chief Executive Officer Sham Shiblaq - Executive Vice President & Chief Commercial Officer Kevin Waters - Executive Vice President & Chief Financial Officer Conference Call Participants Matthew O'Brien - Piper Sandler Craig Bijou - Bank of America Securities Patrick Wood - Morgan Stanley Ri ...

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. PROCEPT BioRobotics Corporation (PRCT) came out with a quarterly loss of $0.45 per share versus the Zacks Consensus Estimate of a loss of $0.49. This compares to loss of $0.51 per share a year ago. These figures are adju ...

Revenue Growth - Total revenue for Q1 2025 was $69.2 million, a 55% increase compared to Q1 2024[4] - U.S. revenue reached $60.3 million, reflecting a growth of 50% year-over-year[4] - U.S. handpiece and consumable revenue was $38.0 million, up 61% from the prior year[4] - International revenue was $8.9 million, representing a 104% increase compared to the previous year[4] - Total revenue for PROCEPT BioRobotics Corporation in Q1 2025 reached $69,162,000, a significant increase from $44,539,000 in Q1 2024, representing a growth of 55.4%[26] - U.S. revenue totaled $60,294,000 in Q1 2025, up from $40,201,000 in Q1 2024, marking a year-over-year increase of 50.1%[26] - Revenue from handpieces and other consumables in the U.S. rose to $38,011,000, compared to $23,618,000 in the previous year, reflecting a growth of 60.7%[26] - Total revenue outside of the U.S. was $8,868,000 in Q1 2025, more than doubling from $4,338,000 in Q1 2024, indicating a growth of 104.1%[26] - Handpieces and other consumables revenue outside the U.S. increased to $4,477,000, compared to $2,343,000 in the prior year, showing a growth of 90.1%[26] - Service revenue in the U.S. grew to $3,596,000, up from $2,347,000, representing a year-over-year increase of 53.2%[26] - Service revenue outside the U.S. also saw growth, reaching $538,000 compared to $255,000, which is a 111.4% increase[26] Financial Performance - Gross margin for Q1 2025 improved to 64%, compared to 56% in Q1 2024[5] - Operating expenses for Q1 2025 totaled $71.6 million, an increase from $52.7 million in the prior year[6] - Net loss for Q1 2025 was $24.7 million, an improvement from a loss of $26.0 million in Q1 2024[7] - The company increased its full-year 2025 revenue guidance to $323 million, a 44% growth compared to the previous year[10] - The projected full-year 2025 Adjusted EBITDA loss is expected to be $35.0 million, unchanged from prior guidance[12] Market Presence and Innovation - As of March 31, 2025, the company had an installed base of 547 robotic systems in the U.S.[4] - The company continues to focus on expanding its market presence and enhancing its product offerings to drive future growth[26] - PROCEPT BioRobotics Corporation is committed to ongoing research and development to innovate new products and technologies in the medical robotics field[26]

Core Insights - PROCEPT BioRobotics Corporation reported a strong performance in Q1 2025, achieving total revenue growth of 55% year-over-year, driven by robust procedural momentum and strategic placements of its Hydros™ system [3][4]. Financial Performance - Total revenue for Q1 2025 was $69.2 million, a 55% increase compared to $44.5 million in Q1 2024 [4][9]. - U.S. revenue reached $60.3 million, reflecting a 50% growth from the previous year, primarily due to system sales and increased handpiece revenue [4][9]. - U.S. handpiece and consumable revenue was $38.0 million, up 61% year-over-year, while system revenue was $18.7 million, a 31% increase [4][9]. - International revenue was $8.9 million, marking a significant 104% increase compared to the prior year [4][9]. Profitability Metrics - Gross margin for Q1 2025 improved to 64%, up from 56% in the prior year, attributed to operational efficiencies and higher average selling prices [5]. - Operating expenses increased to $71.6 million from $52.7 million in the previous year, driven by expansion of the commercial organization and increased R&D expenses [6]. - The net loss for Q1 2025 was $24.7 million, slightly improved from a loss of $26.0 million in Q1 2024 [7][19]. - Adjusted EBITDA loss was $15.8 million, compared to a loss of $20.4 million in the prior year [7][19]. Future Guidance - The company raised its full-year 2025 revenue guidance to $323 million, representing a 44% increase over the previous year [10][11]. - Projected gross margin for the full year is approximately 64.5%, with potential headwinds from global tariff rates estimated to impact margins by about 150 basis points [10][11]. - Total operating expenses for 2025 are projected to be around $300 million, with an expected Adjusted EBITDA loss of $35 million [11]. Market Position and Strategy - The U.S. launch of the Hydros™ system is gaining traction, particularly among large Integrated Delivery Networks, with 45% of U.S. system placements coming from corporate multi-unit orders [3][4]. - The company aims to revolutionize BPH treatment through its robotic solutions, with a focus on delivering effective outcomes for patients [12].

Company Overview - PROCEPT BioRobotics Corporation aims to revolutionize BPH treatment globally by providing advanced robotic solutions that enhance patient outcomes and deliver value [3] - The company manufactures the AQUABEAM® and HYDROS™ Robotic Systems, with the HYDROS system being the only AI-powered technology for Aquablation therapy [3] - Aquablation therapy is designed to provide effective, safe, and durable outcomes for men suffering from lower urinary tract symptoms (LUTS) due to BPH, regardless of prostate size, shape, or surgeon experience [3] - BPH affects approximately 40 million men in the United States, highlighting the significant market potential for the company's solutions [3] - PROCEPT BioRobotics has established a robust clinical foundation with over 150 peer-reviewed publications supporting the efficacy and advantages of Aquablation therapy [3] Upcoming Investor Event - The company will host an in-person investor event on April 25, 2025, at the Aria Resort in Las Vegas during the American Urological Association Annual Meeting [1] - The event will feature presentations from the management team and clinical perspectives from various physicians [2] - A live webcast of the event will be available, along with an archived recording accessible for at least 90 days post-event [2]