[Employment Agreement Overview](index=1&type=section&id=Employment%20Agreement%20Overview) This section details the employment agreement between PROCEPT BioRobotics Corporation and Larry L. Wood, outlining the parties involved and the effective dates of his new CEO role [Parties and Effective Date](index=1&type=section&id=Parties%20and%20Effective%20Date) This employment agreement is between PROCEPT BioRobotics Corporation and Larry L. Wood, who will serve as the new Chief Executive Officer. The agreement was executed on July 23, 2025, with an employment start date of September 2, 2025 - The agreement is between **PROCEPT BioRobotics Corporation** and **Larry L. Wood** ("Executive")[2](index=2&type=chunk) Key Dates | Date Type | Date | | :--- | :--- | | Execution Date | July 23, 2025 | | Employment Effective Date | September 2, 2025 | [1. Employment Terms](index=1&type=section&id=1.%20Employment) This section outlines the executive's position, primary work location, and the exclusivity requirements of his employment with the company [Position and Duties](index=1&type=section&id=1(b)%20Position%20and%20Duties) Effective September 2, 2025, Larry L. Wood will serve as the sole Chief Executive Officer of PROCEPT BioRobotics, reporting directly to the Board of Directors. He will also continue to serve as a member of the Board, and the company will support his nomination for election - Executive will serve as the **sole Chief Executive Officer**, reporting directly to the Board of Directors[5](index=5&type=chunk) - Executive will continue to serve as a member of the Board and the Company will use commercially reasonable efforts to nominate him for election to the Board[5](index=5&type=chunk) [Principal Office](index=2&type=section&id=1(c)%20Principal%20Office) The executive's primary workplace will be the company's principal corporate offices located in San Jose, California - The primary workplace is designated as the company's corporate offices in **San Jose, California**[6](index=6&type=chunk) [Exclusivity](index=2&type=section&id=1(d)%20Exclusivity) The executive is required to devote his full working time and effort to the company. However, he is permitted to engage in passive investments, charitable activities, and serve on one other non-competing board of directors, provided these activities do not interfere with his duties and receive prior written approval from the Board - Executive must devote **full working time** to the Company, with exceptions for passive investments and charitable activities[7](index=7&type=chunk) - Serving on another organization's board of directors is permissible if the organization is not a competitor and prior written approval from the Board is obtained[7](index=7&type=chunk) [3. Compensation and Related Matters](index=2&type=section&id=3.%20Compensation%20and%20Related%20Matters) This section details the executive's annual base salary, eligibility for annual and sign-on bonuses, and participation in company benefits and expense reimbursement [Annual Base Salary](index=2&type=section&id=3(a)%20Annual%20Base%20Salary) The executive will receive an annual base salary of $925,000, subject to annual review by the Board of Directors or its Compensation Committee Annual Base Salary | Component | Amount | | :--- | :--- | | Annual Base Salary | $925,000 | [Annual Bonus](index=2&type=section&id=3(b)%20Annual%20Bonus) The executive is eligible for a discretionary annual bonus with a target of 100% of his Annual Base Salary, based on performance objectives. The bonus for the 2025 calendar year will be pro-rated - Eligible for a discretionary annual bonus targeted at **100% of the Annual Base Salary**[10](index=10&type=chunk) - The bonus for calendar year **2025** will be pro-rated to reflect a partial year of employment[11](index=11&type=chunk) [Sign-On Bonus](index=3&type=section&id=3(c)%20Sign-On%20Bonus) A one-time sign-on bonus of $1,700,000 will be paid within 30 days of the effective date. A pro-rated, after-tax portion of this bonus must be repaid if the executive resigns without Good Reason or is terminated for Cause within the first 12 months Sign-On Bonus Details | Component | Amount | Repayment Condition | | :--- | :--- | :--- | | Sign-On Bonus | $1,700,000 | Pro-rated repayment if terminated for Cause or resigns without Good Reason within 12 months | [Benefits and Expenses](index=3&type=section&id=3(d)%20Benefits) The executive is entitled to participate in the company's standard employee and executive benefit plans, will be covered by D&O liability insurance, and will be reimbursed for all reasonable business expenses - Entitled to participate in employee and executive benefit plans offered by the Company[13](index=13&type=chunk) - Executive will be indemnified and covered under a Company-maintained **directors and officers (D&O) liability insurance policy**[13](index=13&type=chunk) - Reasonable, documented business and travel expenses will be reimbursed by the Company[14](index=14&type=chunk) [4. Equity Awards](index=4&type=section&id=4.%20Equity%20Awards) This section describes the initial equity grants, including buy-out RSUs, new-hire PSUs, and options, along with future eligibility for additional awards [New Hire Equity Grants](index=4&type=section&id=4(a-c)%20New%20Hire%20Equity%20Grants) The executive will receive three initial equity awards: a Buy-Out RSU award valued at $7.5 million to compensate for forfeited equity, a New-Hire PSU award valued at $3.0 million, and a New-Hire Option Award valued at $7.5 million. The RSUs and Options vest over four years, with a one-year cliff Summary of New Hire Equity Awards | Award Type | Value | Vesting Schedule | | :--- | :--- | :--- | | Buy-Out RSUs | $7,500,000 | 25% on 1st anniversary, then quarterly over the next 3 years | | New-Hire PSUs | $3,000,000 | Based on pre-established performance formula | | New-Hire Options | $7,500,000 | 25% on 1st anniversary, then monthly over the next 3 years | - The Buy-Out RSU award is granted in consideration of unvested equity awards forfeited by the Executive from his previous employer[16](index=16&type=chunk) [Future Eligibility](index=5&type=section&id=4(d)%20Future%20Eligibility) The executive will be eligible for additional equity award grants for fiscal year 2026 and beyond, at the discretion of the Board or its Compensation Committee - Executive is eligible for future equity grants for **fiscal year 2026** and subsequent years[19](index=19&type=chunk) [5. Termination of Employment](index=5&type=section&id=5.%20Termination) This section establishes the at-will nature of the executive's employment and the general conditions under which the employment relationship can be terminated [At-Will Employment](index=5&type=section&id=5(a)%20At-Will%20Employment) The executive's employment is "at-will," meaning either the company or the executive can terminate the employment relationship at any time, for any reason, with or without cause, subject to the severance provisions outlined in the agreement - Employment is on an **at-will basis** and can be terminated by either party at any time for any reason[20](index=20&type=chunk) - Upon termination, the executive is only entitled to payments and benefits as provided in this agreement[20](index=20&type=chunk) [6. Consequences of Termination](index=5&type=section&id=6.%20Consequences%20of%20Termination) This section specifies the financial and equity benefits due to the executive upon various termination scenarios, including definitions for "Cause" and "Good Reason" [Accrued Obligations Upon Any Termination](index=5&type=section&id=6(a)%20Accrued%20Obligations) Regardless of the reason for termination, the executive is entitled to receive all earned but unpaid base salary, vested benefits, reimbursed expenses, and any earned but unpaid annual bonus - Upon any termination, the Executive is entitled to: earned Annual Base Salary, owed expenses, accrued paid time-off, and any earned but unpaid Annual Bonus[23](index=23&type=chunk) [Severance Payments for Covered Termination](index=6&type=section&id=6(b-c)%20Severance%20Payments) In the event of a "Covered Termination" (termination by the company without Cause or resignation by the executive for Good Reason), the executive is entitled to significant severance benefits. These benefits are enhanced if the termination occurs during a "Change in Control Period" (3 months prior to and 12 months after a Change in Control) Severance Benefits Comparison | Benefit | Covered Termination (Outside CIC Period) | Covered Termination (During CIC Period) | | :--- | :--- | :--- | | **Cash Severance** | 1.5x Annual Base Salary | 3.0x (Annual Base Salary + Target Annual Bonus) | | **COBRA Subsidy** | 18 months | 36 months | | **Equity Vesting** | Full vesting of Buy-Out RSU Award only | Full vesting of all service-based equity awards; performance awards vest per their terms (at least at target) | - All severance payments are contingent upon the executive signing and not revoking a waiver and release of claims agreement[24](index=24&type=chunk)[28](index=28&type=chunk) [Key Definitions for Termination](index=9&type=section&id=6(f-k)%20Key%20Definitions) The agreement provides specific definitions for key terms that govern termination and severance eligibility, including "Cause," "Good Reason," "Change in Control Period," and "Covered Termination" - **Cause:** Defined to include material dishonesty, felony conviction, willful harm to the company, material breach of agreement, or repeated refusal to perform duties[31](index=31&type=chunk) - **Good Reason:** Defined to include a material reduction in title, duties, base salary (>5%), or target bonus; a relocation of the primary workplace outside California; or a material breach of the agreement by the Company[36](index=36&type=chunk) - **Change in Control Period:** The period commencing **3 months prior** to a Change in Control and ending **12 months after**[32](index=32&type=chunk) - **Covered Termination:** Termination by the Company without Cause or by the Executive for Good Reason. Excludes termination due to death or Disability[33](index=33&type=chunk) [8. Miscellaneous Provisions](index=10&type=section&id=8.%20Miscellaneous%20Provisions) This section covers general legal terms, including the governing law, dispute resolution mechanisms, and whistleblower protections within the agreement [Governing Law and Dispute Resolution](index=10&type=section&id=8(b)%2C%20g)%20Governing%20Law%20and%20Dispute%20Resolution) The agreement is governed by the laws of the State of California. Any disputes arising from the agreement must be resolved exclusively through final and binding arbitration in Santa Clara County, California, through JAMS - The agreement shall be governed and construed in accordance with the laws of the **State of California**[39](index=39&type=chunk) - Disputes are to be resolved exclusively by final and binding arbitration held in **Santa Clara County, California**, through JAMS[46](index=46&type=chunk) [Whistleblower Protections](index=13&type=section&id=8(j)%20Whistleblower%20Protections) The agreement explicitly states that nothing within it or the associated Confidentiality Agreement prohibits the executive from reporting possible violations of federal law or regulation to any governmental agency or entity, in accordance with whistleblower protection provisions - The agreement does not prohibit the Executive from reporting possible violations of federal law or regulation to any U.S. governmental agency, as protected under Sarbanes-Oxley and other whistleblower provisions[50](index=50&type=chunk) [9. Golden Parachute Excise Tax (Section 280G)](index=13&type=section&id=9.%20Golden%20Parachute%20Excise%20Tax) This section addresses the treatment of payments that may be subject to the Section 280G excise tax, ensuring the executive receives the maximum after-tax benefit [Best Pay Provision](index=13&type=section&id=9(a)%20Best%20Pay%20Provision) The agreement includes a "best pay" provision regarding the Section 280G golden parachute excise tax. If any payments would trigger the tax, the total payment will either be reduced to avoid the tax or paid in full (subject to the tax), whichever results in a greater after-tax amount for the executive - If payments constitute a "parachute payment" subject to the excise tax under Section 4999 of the Code, the payment will be the greater of: (A) the largest amount that does not trigger the tax, or (B) the full payment amount, based on which provides the greater after-tax benefit to the Executive[51](index=51&type=chunk) [10. Section 409A Compliance](index=14&type=section&id=10.%20Section%20409A) This section ensures that all compensation and benefits provided under the agreement comply with or are exempt from Section 409A of the Internal Revenue Code [Compliance with Deferred Compensation Rules](index=14&type=section&id=10(a-d)%20Compliance%20with%20Deferred%20Compensation%20Rules) This section contains standard provisions to ensure that all payments and benefits under the agreement comply with, or are exempt from, Section 409A of the Internal Revenue Code, which governs nonqualified deferred compensation. This includes rules for payment timing upon separation from service, potential six-month delays for "specified employees," and procedures for the execution of a release of claims - The agreement is intended to comply with or be exempt from **Section 409A** of the tax code regarding deferred compensation[54](index=54&type=chunk) - If the Executive is a "specified employee," payments subject to Section 409A may be delayed for **six months** following separation from service to avoid tax penalties[56](index=56&type=chunk)

Core Insights - PROCEPT BioRobotics announced the appointment of Larry L. Wood as president and CEO effective September 2, 2025, succeeding Dr. Reza Zadno who will retire on September 1, 2025 [1][3] - Dr. Zadno has led the company through significant growth, including the adoption of Aquablation® therapy for BPH treatment and a successful public offering in 2021 [2][3] - The company pre-announced second quarter 2025 revenue of approximately $79.2 million, representing an annual growth of 48% [5][4] Leadership Transition - Larry L. Wood brings over 40 years of experience in the medical technology industry, previously serving at Edwards Lifesciences and Baxter Healthcare [4][3] - Wood has been a member of PROCEPT BioRobotics' board of directors since 2024 and is recognized for his leadership in the medical device sector [4][3] - The board expressed confidence in Wood's ability to lead the company through its next growth phase, emphasizing his experience in clinically demanding medical device categories [4][3] Company Performance - Under Dr. Zadno's leadership, the number of global Aquablation procedures increased from a few hundred to nearly 100,000, and the company raised over $600 million in capital [2][3] - The company aims to revolutionize BPH treatment globally by delivering advanced robotic solutions that positively impact patient care [5][6] - PROCEPT BioRobotics has developed a significant body of clinical evidence supporting the benefits of Aquablation therapy, with over 150 peer-reviewed publications [6]

Core Viewpoint - PROCEPT BioRobotics Corporation has successfully completed three prostate cancer procedures using Aquablation therapy in an Ambulatory Surgery Center, marking a significant milestone in the treatment of localized prostate cancer [1][3]. Group 1: Aquablation Therapy and Clinical Trial - Aquablation therapy is an image-guided, minimally invasive surgical procedure that utilizes a robotically-controlled waterjet to remove diagnosed cancer and most of the prostate [2]. - The WATER IV PCa Trial is a U.S. FDA investigational device exemption (IDE) approved clinical study comparing Aquablation therapy with radical prostatectomy for men with localized prostate cancer [2]. - The trial aims to evaluate the safety and efficacy of Aquablation therapy for men with Grade Group 1 to 3 localized prostate cancer [2]. Group 2: Treatment Setting and Outcomes - Dr. Rahul Mehan has chosen to conduct the randomized Aquablation therapy trial at an Ambulatory Surgery Center, demonstrating that early-stage prostate cancer can be safely treated in this setting [3]. - All procedures were completed successfully, with patients discharged the same day without complications, indicating a safe prostate resection [3]. - The approach of using Aquablation therapy could lead to a more scalable and cost-effective care model in the evolving healthcare market [3]. Group 3: Industry Impact and Future Prospects - The unique design of the WATER IV PCa trial focuses on harm reduction and could potentially change the treatment paradigm for localized prostate cancer among millions of men [3]. - The FDA's approval of the IDE for this trial reflects a thorough review process and opens up possibilities for this novel treatment approach [3]. - PROCEPT BioRobotics is committed to advancing patient care through transformative urology solutions, with a significant body of clinical evidence supporting the benefits of Aquablation therapy [5].

Core Viewpoint - PROCEPT BioRobotics Corporation is set to report its financial results for Q2 2025 on August 6, 2025, with a conference call scheduled for the same day [1]. Company Overview - PROCEPT BioRobotics focuses on advancing patient care in urology through innovative surgical robotics solutions [1]. - The company manufactures the AQUABEAM and HYDROS™ Robotic Systems, with the HYDROS system being the only AI-powered technology delivering Aquablation therapy [3]. - Aquablation therapy is designed to provide effective and durable outcomes for men suffering from lower urinary tract symptoms (LUTS) due to benign prostatic hyperplasia (BPH), regardless of prostate size 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]. - The company has established a robust clinical foundation with over 150 peer-reviewed publications supporting the benefits of Aquablation therapy [3].

Core Insights - PROCEPT BioRobotics Corporation announced that Aquablation therapy has been assigned a Category I CPT code effective January 1, 2026, marking a significant milestone for the company and the urology community [1][3] - The new Category I CPT code 52XX1 will replace the previous Category III CPT code 0421T and is associated with a proposed national average payment of approximately $540 under the 2026 Medicare Physician Fee Schedule [2][3] - The transition to a Category I code is expected to enhance surgeon adoption and increase patient access to Aquablation therapy, which offers durable symptom relief with a low risk of sexual side effects [3] Payment Structure - The 2026 proposed payment for Aquablation therapy is set at 16.14 total RVUs, compared to 15.82 total RVUs for TURP, which translates to an average payment of approximately $529 [3] - The Proposed Physician Fee Schedule was released on July 14, 2025, and will undergo a public comment period until September 2025, with a final rule expected in November 2025 [4] Aquablation Therapy Overview - Aquablation therapy is the first and only ultrasound-guided, robotic-assisted, heat-free waterjet treatment for benign prostatic hyperplasia (BPH), providing personalized treatment planning based on real-time imaging [5][6] - The technology allows for precise removal of prostate tissue while preserving critical anatomy related to erectile and ejaculatory function, making it suitable for a wide range of patients [5][6] - BPH affects approximately 40 million men in the United States, highlighting the significant market potential for Aquablation therapy [6]

BPH Market & Aquablation Therapy - Benign Prostatic Hyperplasia (BPH) affects approximately 40 million men in the U S [21] - The U S BPH surgical market represents a ~$20 billion opportunity [27] - Approximately 70% of prostates treated with Aquablation in the U S are less than 100ml in size [41] - Aquablation therapy provides effective, safe, and durable outcomes independent of prostate size, shape, and surgeon experience [36] Financial Performance & Guidance - Total revenue increased by 72% year-over-year to $24 4 million in Q1 2023 [51] - U S Aquabeam install base increased by 106% year-over-year to 192 systems in Q1 2023 [51] - U S handpieces sold increased by 139% year-over-year in Q1 2023 [51] - The company projects total revenue of $128 0 million for 2023, representing approximately 71% year-over-year growth [53, 54] - The company anticipates a gross margin of 54% for 2023 [54] Commercial Strategy & Expansion - The company is targeting 860 high-volume hospitals in the U S with an annual resective volume of ≥100 procedures [62] - 17 Strategic IDNs account for ~29% of BPH hospitals and ~26% of high-volume centers [70] - 65% of high volume hospitals are within a 100-mile radius of Robotic Sales Representatives [73]

Financial Performance & Guidance - PROCEPT BioRobotics reported Q1 2024 global revenue of $445 million, an 83% year-over-year increase [22] - International revenue in Q1 2024 reached $43 million, a 65% year-over-year increase [22] - The U S installed base grew to 354 systems, an 84% year-over-year increase [22] - U S handpiece sales reached 6800, a 100% year-over-year increase [22] - The company projects total revenue for 2024 to be approximately $2135 million, representing a 57% year-over-year growth [26] - The company anticipates a gross margin of approximately 58% to 59% for 2024 [26] - Adjusted EBITDA loss is projected to be approximately $70 million for 2024 [26] - As of March 31, 2024, the company had a total cash and cash equivalents balance of $226 million and a debt balance of $52 million [27] Commercial Strategy & Market Expansion - The company aims to convert all resective BPH hospital-based procedures to Aquablation Therapy [39] - The company reports that over 95% of U S covered lives are now under signed majority IDN contracts [43] - Aquablation Therapy cases at Georgia Urology have increased 95x since 2019 [67] Prostate Cancer Research & Development - Approximately 1/3 of men with BPH also have prostate cancer, representing 300000 diagnoses per year [89] - Initial Aquablation impressions for prostate cancer show promise, with real-time imaging and surgeon confidence [113, 114] - Early results from a study (n=5) show 0% incontinence and 0% erectile dysfunction, as well as 0% actionable disease and 0% residual tumor on MRI [138, 148]

Company Milestones and Financial Performance - PROCEPT BioRobotics achieved significant milestones, including Medicare reimbursement in 2021 and FDA clearance of the HYDROS System in 2023[12, 15] - The company's global revenue reached $224.5 million in 2024 and projects revenue guidance of $323 million[15, 18] - The company completed a $150 million equity follow-on and a $175 million equity follow-on[14, 15] HYDROS System and Market Penetration - The HYDROS Robotic System is resonating with all BPH hospital segments, driving market awareness[31, 34] - U.S. install base has shifted towards higher volume hospitals, with high-volume hospitals representing 61% of the install base in 1Q25, compared to 20% in 1Q23[30] - The company is on pace to become the 2 hospital-based resective BPH procedure in the U.S[18] Aquablation Therapy and Clinical Practice - Kansas City Urology & Oncology (KCUC) has increased annual BPH procedure volumes by 42% since 2021[56] - Dr Park's annual Aquablation procedures at KCUC doubled, demonstrating a 124% growth[58] - Aquablation therapy has increased surgical conversion rates from 10% to 25% due to more objective evaluation[62] Prostate Cancer and Aquablation Therapy - Approximately 26% of localized prostate cancer diagnoses are high risk, 50% are intermediate risk, and 24% are low risk[79] - Early data from PRCT001 + PRCT002 trials includes 88 prostate cancer patients treated, with 47 patients having 6-month follow-up data[125] - 70% of prostate cancer patients in PRCT001 + PRCT002 trials have intermediate-risk disease[127] - Single center data suggests Aquablation may delay cancer progression, with a 30% progression avoidance at 5 years compared to active surveillance[168]

Summary of PROCEPT BioRobotics (PRCT) 2025 Conference Call Company Overview - **Company**: PROCEPT BioRobotics (PRCT) - **Industry**: Medical Technology, specifically focusing on surgical solutions for Benign Prostatic Hyperplasia (BPH) Key Points and Arguments Business Trends and Performance - **Q1 Performance**: The company experienced a strong procedure beat in Q1, with positive momentum continuing into April and May, indicating a rebound from previous challenges such as saline shortages [2][3][4] - **Surgeon Metrics**: Surgeon retention rates remain above 90%, and the company is seeing growth in new account launches and multiple surgeon engagements [4][3] - **Utilization Growth**: The company anticipates low to mid-single-digit year-over-year growth in utilization, which is viewed positively given the number of systems being added annually [8][11] Capital Component and Product Launch - **Hydro System Launch**: The Hydro system is early in its launch phase but has shown great receptivity, with a significant sales funnel and positive selling prices [4][5] - **Market Penetration**: The AquaBlation program currently holds about 50% market share within existing accounts, with expectations for further market expansion [11][19] - **Future Installations**: The company plans to install over 200 robots in 2025, which will contribute to incremental procedures despite a ramp-up period of three to four quarters for new accounts [12][11] IDN Relationships and Sales Strategy - **IDN Engagement**: The company has increased its engagement with Integrated Delivery Networks (IDNs), which account for 25% to 30% of all BPH surgeries in the U.S. This is seen as crucial for becoming the standard of care in the surgical BPH space [33][34] - **Predictability in Sales**: Relationships with IDNs are expected to improve the predictability of capital sales, allowing for better resource allocation [37][39] Pricing and Market Environment - **Average Selling Price (ASP)**: The average selling price of the robots has increased from approximately $300,000 at the time of going public to around $430,000 to $440,000, indicating strong demand and value perception [41][42] - **Capital Environment**: The company does not sense a material shift in overall sentiment regarding the capital environment, maintaining that their products are viewed as beneficial for hospitals, which helps in retaining patients and surgeons [45][47] Reimbursement and Regulatory Considerations - **CPT Code Change**: The transition from Category III to Category I CPT codes is expected to have a minimal impact on physician fees, with a slight decrease anticipated but not affecting adoption rates [49][50] - **Facility Payment**: The company expects to maintain its APC level six status, which is crucial for facility reimbursement, and has seen an increase in procedure pricing over the past 12 to 24 months [51][52] Future Outlook and Prostate Cancer Treatment - **Prostate Cancer Treatment**: The company is addressing concerns about the potential spread of cancer during procedures and has received FDA support for treating patients with known prostate cancer. They aim to enroll the majority of patients within 18 months, with commercialization expected by early 2028 [66][69][72] Additional Important Insights - **Operational Efficiency**: The Hydro system is designed to improve operational efficiency in hospitals, reducing reliance on specific staff and potentially increasing profitability for hospitals [22][23] - **Market Expansion**: The company is focused on penetrating high-volume hospitals while also seeing interest from medium-volume hospitals, which are expected to follow similar utilization trajectories as high-volume hospitals [28][30] This summary encapsulates the key insights and strategic directions discussed during the PROCEPT BioRobotics conference call, highlighting the company's growth potential, market strategies, and future plans in the medical technology sector.

Summary of Procept BioRobotics (PRCT) FY Conference Call - June 04, 2025 Company Overview - Procept BioRobotics is a surgical robotic company aiming to become a global leader in urology [3][4] - The company focuses on treating Benign Prostatic Hyperplasia (BPH), a condition affecting a significant portion of the male population [5] Industry Insights - BPH affects one in two men aged 50-60, with 40 million men in the U.S. suffering from this condition [5] - There is a large unmet clinical need, with only 12 million of the 40 million men under medical management [6] - The majority of men avoid surgical options due to side effects associated with current treatments [6][7] Product and Technology - Aquablation therapy is designed to address the unmet clinical need for BPH treatment, effective for all prostate sizes and shapes [6][9] - The technology utilizes an automated water jet, avoiding unnecessary damage to surrounding tissue [9] - Clinical studies show that aquablation has superior safety outcomes compared to traditional resective procedures like TURP [11][12] Market Access and Reimbursement - Full Medicare coverage is available for aquablation, with 95% of eligible patients having access to the treatment [15] - The facility payment for aquablation is just over $9,200, with expectations for reimbursement to align with other resective procedures [36][37] Financial Performance - The company reported a revenue of $69.2 million for the first quarter, a 55% year-over-year growth [22] - The installed base in the U.S. reached 547 systems, with significant international revenue growth, particularly in the U.K. and Japan [23][24] - Revenue guidance for 2025 is set at $323 million, with an expected growth rate of 63% to 64.5% [24] Future Opportunities - Procept is exploring the use of aquablation for prostate cancer treatment, addressing a significant unmet clinical need [16][18] - There are over 3 million men in the U.S. with prostate cancer, with 300,000 new cases annually [16] - The company is conducting clinical studies to demonstrate the safety and efficacy of aquablation in prostate cancer patients [19][22] Challenges and Execution - The company is focused on surgeon retention and increasing procedure volumes, with over 30,000 cases performed in the U.S. last year [32][33] - The transition from Category III to Category I reimbursement codes is a key milestone, expected to simplify pre-authorization processes [36][39] Conclusion - Procept BioRobotics is positioned to capitalize on the growing demand for effective BPH and prostate cancer treatments through innovative technology and strong clinical data [44]