PRCT · PROCEPT BioRobotics Corporation

PROCEPT BioRobotics delivered first quarter 2026 results reflecting early benefits from organizational reset focused on operational excellence and commercial discipline, as stated by CEO Larry Wood. Revenue reached $83.1 million, up 20% from Q1 2025, with U.S. revenue at $72.0 million (19% growth) driven by $23.4 million in system sales (25% growth, 49 Hydros systems sold at ~$485,000 ASP for new systems) and $43.0 million in handpieces (13% growth, 95% attachment rate). International revenue grew 25% to $11.1 million. U.S. procedures hit ~12,200, up 30% YoY, supported by ending install base of 765 systems (+40% YoY). Gross margin expanded to 65% from 64% YoY, aided by revenue mix and pricing despite tariff and inventory costs. Operating expenses rose to $86.6 million from $71.6 million, reflecting investments in commercial expansion, BPH innovation, and WATER IV trial. Net loss widened to $31.6 million ($0.56/share) from $24.7 million ($0.45/share), with Adjusted EBITDA loss at $18.1 million versus $15.8 million prior year. Cash position stood at ~$249 million including restricted cash. The company reaffirmed FY2026 guidance: revenue $390-410 million (27-33% growth), U.S. procedure growth 39-48%, gross margin ~65%, Adjusted EBITDA loss $17-30 million. Additionally, FDA clearance for second-generation FirstAssist AI software enhances HYDROS system capabilities for precise Aquablation therapy planning, reinforcing urology innovation commitment.