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Company Overview
PROCEPT BioRobotics Corporation is a Silicon Valley-based surgical robotics company dedicated to transforming urologic patient care through innovative, minimally invasive solutions. With a deep commitment to clinical excellence, the company designs and manufactures advanced robotic systems that empower surgeons to perform precise procedures with predictable and reproducible outcomes.
Innovative Robotic Solutions
At its core, PROCEPT BioRobotics develops the AquaBeam and HYDROS Robotic Systems. These state-of-the-art platforms utilize real-time ultrasound imaging and advanced imaging guidance to enable personalized treatment planning. The AquaBeam system, the world’s first autonomous robotic platform for aquablation therapy, safely removes prostate tissue in cases of benign prostatic hyperplasia (BPH), regardless of anatomical variations or surgeon experience. The HYDROS system further integrates AI capabilities to optimize surgical planning and execution, improving both efficiency and clinical outcomes in urologic procedures.
Clinical Excellence and Evidence
The company’s approach is underscored by a robust body of clinical data, with over 150 peer-reviewed publications and multiple clinical trials validating the safety and efficacy of aquablation therapy. Surgeons benefit from a technology that delivers fast, consistent, and reproducible results. The focus on minimally invasive techniques is designed not only to reduce recovery time and complications but also to preserve critical functions such as sexual function and continence, thereby enhancing overall patient quality of life.
Advanced Technology and Real-Time Imaging
Through its image-guided surgical systems, PROCEPT BioRobotics provides surgeons with a multidimensional view of the prostate, allowing for precise tissue resection. The real-time ultrasound imaging incorporated into the robotic platforms ensures that each procedure is tailored to the unique anatomical characteristics of each patient. This level of personalization in treatment planning is crucial for achieving optimal clinical outcomes, demonstrating the company’s expertise in merging robotics, imaging technology, and surgical precision.
Market Position and Competitive Landscape
Operating within the highly specialized field of urologic surgical robotics, PROCEPT BioRobotics holds a distinctive position by focusing on treatments for BPH, a prevalent condition affecting millions of men in the United States. By pioneering aquablation therapy, the company has established itself as a credible innovator in an industry that demands rigorous clinical validation and continuous technological advancement. The combination of advanced robotics and a significant repository of clinical evidence sets the company apart from other medical device manufacturers, ensuring that its solutions remain relevant and trustworthy to both healthcare professionals and the broader medical community.
Operational Footprint and Product Strategy
While a majority of its revenue is generated in the United States, the company’s impact is increasingly global. PROCEPT BioRobotics is committed to expanding market access through strategic installations and consistent performance improvements across its product lines. With products that are designed to work effectively regardless of prostate size or shape, the company addresses a wide spectrum of patient profiles, enhancing its appeal within the diverse and competitive landscape of medical devices.
Commitment to Innovation and Quality
Innovation is central to the company’s ethos. Combining cutting-edge robotics with artificial intelligence, PROCEPT BioRobotics continually evolves its product offerings to meet the rigorous demands of modern urologic surgery. The operational philosophy emphasizes safety, efficiency, and clinical accuracy, ensuring that each robotic system not only meets but exceeds the necessary standards for transformational patient care. The company’s notable emphasis on clinical research and validation further reinforces its role as an authoritative and trusted player in the surgical robotics arena.
Summary
In summary, PROCEPT BioRobotics Corporation is a trailblazer in the field of surgical robotics, specializing in transformative solutions for urologic conditions such as BPH. By marrying innovative robotic technology with extensive clinical evidence, the company has redefined the parameters of minimally invasive surgery. Its dedication to advancing surgical precision and patient safety positions it as an essential contributor to modern urologic care. Investors and healthcare stakeholders seeking comprehensive insights into advanced medical device technologies will find this company’s approach both compelling and indicative of its expertise in the ever-evolving landscape of surgical robotics.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT), a leader in surgical robotics focused on urology, announced management will present at the Virtual Key Bank Life Sciences & MedTech Investor Forum on March 21, 2023, at 12:45 p.m. Eastern Time. A live webcast will be available, with an archived recording for replay for 90 days. PROCEPT is renowned for its AquaBeam Robotic System, designed for minimally invasive urologic surgery, specifically targeting benign prostatic hyperplasia (BPH), which affects 40 million men in the U.S. The company boasts extensive clinical evidence supporting its Aquablation therapy.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported significant financial growth for 2022, with total revenue reaching $75.0 million, a 118% increase from 2021. In Q4 2022 alone, revenue was $23.8 million, marking a 135% rise year-over-year. System and rental revenue for the U.S. hit $10.4 million, up 109%, while handpiece and consumable revenue soared by 202%. Despite a net loss of $28.2 million for the quarter, the company projects $125 million in revenue for 2023, reflecting a 67% growth forecast. Key factors driving growth include expansion in the sales team and increased market interest.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has announced that its management will present at the 43rd Annual Cowen Health Care Conference in Boston on March 7, 2023, at 12:50 p.m. Eastern Time. Interested parties can access a live webcast and an archived recording on the company’s website for at least 90 days following the event.
PROCEPT is recognized for its AquaBeam Robotic System, aimed at enhancing minimally invasive surgery for benign prostatic hyperplasia (BPH). Currently, BPH affects around 40 million men in the U.S., and PROCEPT's innovative Aquablation therapy is supported by extensive clinical evidence, including nine studies and over 100 peer-reviewed publications.
PROCEPT BioRobotics plans to report its fourth quarter and fiscal year 2022 financial results on February 28, 2023. Preliminary unaudited revenue for Q4 2022 is projected between $23.6 million and $23.8 million, significantly up from $10.1 million in Q4 2021. Total revenue for fiscal year 2022 is expected to be around $74.8 million to $75 million, reflecting a 117% growth year-over-year. The company emphasizes its commitment to advancing patient care in urology through innovative surgical solutions.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced its participation in the 41st Annual J.P. Morgan Healthcare Conference, scheduled for January 10, 2023, at 9:45 a.m. Pacific Time. The event will feature a presentation by the company's management team. Interested parties can access a live webcast and an archived recording through the company’s website.
PROCEPT BioRobotics focuses on innovating surgical robotics for urology, specifically addressing benign prostatic hyperplasia (BPH) through its AquaBeam Robotic System, which is backed by extensive clinical evidence.
PROCEPT BioRobotics (Nasdaq: PRCT) reported a 135% increase in total revenue for Q3 2022, totaling $20.3 million compared to the same period last year. U.S. system revenue rose 95% to $9.8 million, while handpiece revenue surged 267% to $8.0 million. The company raised its 2022 revenue guidance to approximately $72.5 million, a 110% growth over 2021. However, net loss widened to $22.6 million and operating expenses increased to $32.3 million.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will release its third quarter financial results on November 3, 2022, after the market closes. A conference call with management will follow at 1:30 p.m. Pacific Time. Investors can join via webcast or phone. The company is focused on surgical robotics, specifically addressing benign prostatic hyperplasia (BPH) through the AquaBeam Robotic System, which has shown significant clinical evidence in improving patient outcomes. Information on the event will be accessible on their website and archived recordings will be available for 90 days.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced a new five-year $52 million loan agreement with CIBC Innovation Banking to enhance its financial position. This loan will refinance an existing $50 million debt, allowing for an interest-only payment period of up to 48 months and reducing annual interest expenses by approximately $2.8 million. CFO Kevin Waters emphasized that this arrangement supports the company’s long-term growth strategy and provides financial flexibility. PROCEPT specializes in surgical robotics, focusing on treating benign prostatic hyperplasia.
PROCEPT BioRobotics (Nasdaq: PRCT) and Providence have formed a multi-system national contract for the acquisition of AquaBeam Robotic Systems, enhancing patient care in urology. As of June 30, 2022, Providence had seven AquaBeam systems installed in California and Texas. Doctor Richard Shapiro emphasized that Aquablation therapy offers long-term symptom relief for men with benign prostatic hyperplasia. PROCEPT aims to accelerate adoption of Aquablation therapy, prioritizing patient safety and effectiveness by using advanced robotic technology for precise prostate treatment.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has announced its participation in the 2022 Wells Fargo healthcare conference, with management scheduled to present on September 7 at 9:10 a.m. Eastern Time. The event will be available via live webcast on the company’s website, offering an archived recording for at least 90 days post-event. PROCEPT focuses on advancing patient care through innovative surgical robotics, particularly with its AquaBeam Robotic System aimed at treating benign prostatic hyperplasia, impacting about 40 million men in the U.S.
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