What were the key takeaways from PROCEPT BioRobotics’s earnings call?

What is PROCEPT BioRobotics's latest dividend and current dividend yield?

Did PROCEPT BioRobotics beat or miss consensus estimates last quarter?

What factors drove the changes in PROCEPT BioRobotics's revenue and profit?

What is PROCEPT BioRobotics's gross profit margin?

What is the market's earnings forecast for PROCEPT BioRobotics next quarter?

What guidance did PROCEPT BioRobotics's management provide for the next earnings period?

What does PROCEPT BioRobotics do and what are its main business segments?

- **Q3 2025 Strong Performance**: $83.3M revenue (43% YoY growth) with 58 HYDROS placements and stable pricing.
- **Utilization Focus**: 2026 initiatives to accelerate new account launches and reduce handpiece delays, targeting faster procedure adoption.
- **2026 Guidance**: $410-430M revenue outlook, up 28-33% YoY, reflecting confidence in capital and procedural growth.
- **Gross Margin Expansion**: 64.8% in Q3, driven by operational efficiency, supporting path to profitability.
- **Strategic Investments**: Hiring marketing leader, expanding international, and exploring Aquablation for prostate cancer.

**【CEO Summary Section】**
- Total Q3 2025 revenue: $83.3 million (43% YoY growth), driven by 58 U.S. HYDROS system placements and stable pricing.
- Focus on improving procedure utilization through faster new account launches and reducing handpiece inventory delays.
- Organizational changes: Pooja Sharma hired as Chief Marketing & Strategy Officer; Stephen McGill promoted to SVP, International GM.
- Long-term strategy: Expand Aquablation adoption for BPH, invest in prostate cancer clinical trial (WATER IV), and enhance international growth.

**【CFO Financial Commentary】**
- U.S. revenue: $73.9 million (42% YoY growth); handpiece revenue: $44.4 million (50% YoY growth) with 13,225 units sold.
- Gross margin: 64.8% (up 160 basis points YoY) due to operational efficiency.
- 2025 full-year guidance: $325.5 million total revenue, 213 U.S. systems, 52,000 handpieces.
- 2026 outlook: $410-430 million revenue, with Analyst Day in Feb 2026 for long-term strategy update.

**【Q&A Key Highlights】**
- **Capital Environment**: Strong Q3 performance (58 systems) despite macroeconomic scrutiny; focus on reducing launch delays.
- **Utilization Growth**: 2026 initiatives to accelerate new account launches and reduce handpiece inventory overhang.
- **Profitability**: Confident in path to profitability despite near-term reinvestments in marketing and commercial infrastructure.
- **DTC Strategy**: Planning patient education campaigns to drive de novo demand, balanced with responsible spending.
- **Prostate Cancer Expansion**: WATER IV trial progressing; potential adjacency to BPH therapy pipeline.

PROCEPT BioRobotics Corporation (PRCT) Q3 2025 Earnings Call Transcript

- **Revenue Growth Accelerates**: Q2 2025 revenue of $79.2 million (+48% YoY) driven by 58% handpiece growth and 24% system sales.
- **Medicare Milestone**: Category I CPT code for Aquablation with 16.14 RVUs, aligning with TURP reimbursement.
- **Gross Margin Expansion**: 65.4% in Q2 (up 640 bps YoY), with full-year guidance of 64.5%.
- **International Momentum**: 69% YoY growth in UK, Japan, and Korea.
- **Leadership Transition**: Larry Wood assumes CEO role with focus on innovation, supported by a strong commercial team.


**【Management Opening Remarks】**
- Reza Zadno highlighted the company's momentum, with an estimated 715 HYDROS systems installed and a 20% procedural share in the U.S. resective BPH market. Gross margins expanded to mid-60s, supporting a path to profitability.
- Incoming CEO Larry Wood emphasized his commitment to innovation and evidence-based solutions, positioning PROCEPT to become a global urology leader.

**【CEO Business Update】**
- Q2 2025 revenue reached $79.2 million, up 48% YoY, driven by 58% growth in handpiece revenue and 24% system revenue growth. U.S. procedure volumes exceeded expectations, with 1,300 surgeons performing Aquablation.
- Secured a Category I CPT code for Aquablation, effective January 2026, with Medicare reimbursement of 16.14 RVUs, aligning with TURP rates. Hospital facility fees increased 5.6% to $9,765.
- WATER IV trial enrollment progressing, with early success in ASC-based prostate cancer procedures.
- Mitigated tariff headwinds, reducing Q2 2025 impact to $1-2 million from $5 million previously estimated.

**【CFO Financial Commentary】**
- Q2 2025 gross margin expanded to 65.4% (up 640 bps YoY) due to higher ASPs and operational efficiency. Operating expenses rose 27% YoY to $74 million, but adjusted EBITDA loss narrowed to $8 million (-56% YoY).
- Full-year 2025 guidance updated to $325.5 million (45% growth), including 210 HYDROS placements, 53,000 handpieces, and $36 million international revenue. Gross margin expected at 64.5% for the year.

**【Q&A Highlights】**
- **Sales Team Confidence**: Despite leadership transition, Kevin Waters emphasized the strength of the commercial team, with 40 quota-carrying reps and visibility into 6-9 month sales pipelines.
- **International Growth**: UK, Japan, and Korea drove 69% YoY international revenue growth, with Japan and Korea showing early momentum.
- **Tariff Mitigation**: Operational strategies reduced tariff impact, with no long-term compromise to profitability.
- **Utilization Trends**: Average selling prices for handpieces maintained at $3,200, with no signs of utilization decline despite procedural growth.
- **IDN Strategy**: Strategic accounts team formed to target large health systems, accounting for 30% of U.S. resective procedures.


PROCEPT BioRobotics Corporation (PRCT) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: Q1 2025 revenue of $69.2 million (+55% YoY), driven by 43 system sales and 11,235 handpiece units.
- **Clinical Momentum**: WATER III trial validates Aquablation safety vs. laser enucleation; Medicare MACs expand access for ~30% of patients.
- **Financial Guidance**: 2025 revenue target of $323 million (+44% YoY), with 210 systems and 52,500 handpieces expected.
- **Tariff Risk**: Potential 150bps margin headwind if China tariffs remain, but offset through operational efficiency.
- **Prostate Cancer Expansion**: FDA ID approval for randomized trial vs. prostatectomy; WATER IV trial to generate Level 1 evidence.

**【CEO Summary Section】**
- Q1 2025 revenue: $69.2 million (+55% YoY), driven by US system sales and record international revenue.
- Installed base: 547 systems (+55% YoY), with 43 systems sold in Q1.
- Clinical milestone: WATER III trial shows Aquablation comparable to laser enucleation with zero transfusion rate and lower incontinence rates.
- Medicare updates: Two MACs (First Coast, Novitas) removed age, void volume, and TRUS requirements, expanding access for ~30% of Medicare patients.

**【CFO Financial Commentary】**
- Gross margin: 63.9% (flat QoQ, +750bps YoY) due to operational efficiency and higher ASPs.
- Full year 2025 guidance: $323 million revenue (+44% YoY), 210 systems sold at $430-440k ASP, 52,500 handpieces sold at $3,200 ASP.
- Tariff impact: Potential $5 million headwind (150bps margin reduction) if 145% China tariffs remain, but confident in offsetting through cost control.
- Cash balance: $319 million as of Q1.

**【Q&A Key Highlights】**
- **Capital Environment**: No slowdown in HYDROS adoption; pipeline at all-time high, with IDNs prioritizing Aquablation as strategic growth driver.
- **Handpiece Performance**: Q1 sales of 11,235 units (+65% YoY) driven by saline shortage resolution; March utilization returned to pre-saline levels.
- **International Growth**: UK revenue up 104% YoY, with NHS and private sector programs gaining traction.
- **Tariff Mitigation**: Strong inventory of ultrasound components; 2025 impact manageable, but monitoring 2026 risks.
- **Prostate Cancer Strategy**: WATER IV trial to generate Level 1 evidence vs. prostatectomy; FDA ID approval for randomized trial a first in category.


PROCEPT BioRobotics Corporation (PRCT) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: Q4 2024 up 57% YoY to $68.2M, FY2024 total $224.5M (65% YoY). HYDROS ASP $460K drives 60% U.S. installed base growth.
- **Gross Margin Expansion**: Q4 64% (all-time high), 2025 guided to 64.5%.
- **Saline Shortage Impact**: 2,000 procedures delayed in Q4, but Q1 2025 recovery on track with Feb/March volumes back to pre-crisis levels.
- **Prostate Cancer Trial**: FDA breakthrough designation for 280-patient WATER IV PCa study, targeting Grade 1-3 prostate cancer.
- **International Expansion**: UK revenue +137% YoY, Japan direct sales pipeline expanding.

**【CEO Opening Remarks】**
- Q4 2024 revenue: $68.2M (57% YoY growth), FY2024 total: $224.5M (65% YoY growth). HYDROS system sales drove 60% U.S. installed base growth to 505 units.
- HYDROS Robotic System launched with FirstAssist AI, achieving 99% adoption rate in procedures. Avg. selling price for HYDROS systems: $460,000.
- FDA breakthrough designation for prostate cancer trial (WATER IV PCa), targeting Grade Group 1-3 localized prostate cancer with 280-patient randomized study.
- U.S. BPH resective market share: ~10%, with >2,700 hospitals eligible for Aquablation.

**【CFO Financial Highlights】**
- Q4 2024 gross margin: 64% (all-time high), FY2024: 61%. 2025 guidance: 64.5% gross margin.
- 2025 revenue: $320M (43% YoY growth). U.S. system sales: 210 units ($430-440K ASP). Handpiece volume: 52,500 units ($3,200 ASP).
- Operating expenses: $300M (28% YoY growth), with 20% core expense growth excluding stock-based comp.
- Cash balance: $337M as of Dec 31, 2024.

**【Commercial Update (Sham Shiblaq)】**
- Q4 HYDROS sales: 60 units (99% of total systems sold). U.S. procedure volume impacted by Baxter saline shortage, delaying ~2,000 procedures.
- Q1 2025 recovery: Feb/March procedure volumes returned to pre-saline shortage levels. 2025 Q1 new account launches: record high.
- International growth: UK revenue up 137% YoY, Japan direct sales pipeline expanding.

**【Key Risks & Opportunities】**
- Saline shortage risk: 50% of accounts reliant on Baxter, but 50% of procedures unaffected in Q4. 2025 Q1 recovery on track.
- Replacement market: $3M in 2025 from AquaBeam to HYDROS upgrades, ASP ~$300K vs. $460K for new systems.
- Prostate cancer pipeline: WATER IV enrollment progressing, AUA 2025 data presentation on PRCT-001/002 feasibility studies.


PRCT

PRCT fundamentals

Earnings Call

You can ask Aime