PROCEPT BioRobotics Reports First Quarter 2025 Financial Results and Increases 2025 Revenue Guidance
PROCEPT BioRobotics (PRCT) reported strong Q1 2025 financial results with total revenue of $69.2 million, up 55% year-over-year. The company's U.S. performance showed significant growth with handpiece and consumables revenue reaching $38.0 million (61% increase) and system revenue of $18.7 million (31% increase). International revenue doubled to $8.9 million.
The company sold 43 new robotic systems in the U.S., bringing the total U.S. install base to 547 systems. Gross margin improved to 64% compared to 56% in the prior year. Despite operating expenses increasing to $71.6 million, the net loss decreased to $24.7 million from $26.0 million year-over-year.
PROCEPT raised its 2025 revenue guidance to $323 million, representing 44% growth, and expects a full-year gross margin of approximately 64.5%.
PROCEPT BioRobotics (PRCT) ha riportato risultati finanziari solidi nel primo trimestre 2025 con un fatturato totale di 69,2 milioni di dollari, in crescita del 55% rispetto all'anno precedente. La performance negli Stati Uniti ha mostrato una crescita significativa con ricavi da manipoli e consumabili pari a 38,0 milioni di dollari (aumento del 61%) e ricavi da sistemi di 18,7 milioni di dollari (aumento del 31%). I ricavi internazionali sono raddoppiati, raggiungendo 8,9 milioni di dollari.
L'azienda ha venduto 43 nuovi sistemi robotici negli Stati Uniti, portando il totale installato nel paese a 547 sistemi. Il margine lordo è migliorato al 64% rispetto al 56% dell'anno precedente. Nonostante le spese operative siano aumentate a 71,6 milioni di dollari, la perdita netta è diminuita a 24,7 milioni di dollari dai 26,0 milioni dell'anno precedente.
PROCEPT ha rivisto al rialzo le previsioni di fatturato per il 2025 a 323 milioni di dollari, con una crescita del 44%, e prevede un margine lordo annuo di circa il 64,5%.
PROCEPT BioRobotics (PRCT) reportó sólidos resultados financieros en el primer trimestre de 2025 con ingresos totales de 69,2 millones de dólares, un aumento del 55% interanual. El desempeño en EE.UU. mostró un crecimiento significativo con ingresos por piezas de mano y consumibles que alcanzaron 38,0 millones de dólares (incremento del 61%) y ingresos por sistemas de 18,7 millones de dólares (incremento del 31%). Los ingresos internacionales se duplicaron hasta 8,9 millones de dólares.
La compañía vendió 43 nuevos sistemas robóticos en EE.UU., elevando la base instalada total en ese país a 547 sistemas. El margen bruto mejoró al 64% comparado con el 56% del año anterior. A pesar de que los gastos operativos aumentaron a 71,6 millones de dólares, la pérdida neta disminuyó a 24,7 millones desde 26,0 millones interanuales.
PROCEPT elevó su guía de ingresos para 2025 a 323 millones de dólares, representando un crecimiento del 44%, y espera un margen bruto anual de aproximadamente el 64,5%.
PROCEPT BioRobotics (PRCT)는 2025년 1분기 강력한 재무 실적을 보고했으며, 총 매출 6,920만 달러로 전년 동기 대비 55% 증가했습니다. 미국 내 실적은 핸드피스 및 소모품 매출이 3,800만 달러(61% 증가), 시스템 매출이 1,870만 달러(31% 증가)를 기록하며 큰 성장을 보였습니다. 국제 매출은 두 배로 늘어나 890만 달러에 달했습니다.
회사는 미국에서 43대의 신규 로봇 시스템을 판매해 미국 내 설치 시스템 총수를 547대로 늘렸습니다. 총이익률은 전년 56%에서 64%로 개선되었습니다. 영업비용이 7,160만 달러로 증가했음에도 불구하고 순손실은 전년 동기 2,600만 달러에서 2,470만 달러로 감소했습니다.
PROCEPT는 2025년 매출 전망을 3억 2,300만 달러로 상향 조정했으며, 연간 총이익률은 약 64.5%가 될 것으로 예상하고 있습니다.
PROCEPT BioRobotics (PRCT) a publié de solides résultats financiers pour le premier trimestre 2025 avec un chiffre d'affaires total de 69,2 millions de dollars, en hausse de 55 % par rapport à l'année précédente. La performance aux États-Unis a montré une croissance significative avec des revenus provenant des pièces à main et consommables atteignant 38,0 millions de dollars (augmentation de 61 %) et des revenus systèmes de 18,7 millions de dollars (augmentation de 31 %). Les revenus internationaux ont doublé pour atteindre 8,9 millions de dollars.
L'entreprise a vendu 43 nouveaux systèmes robotiques aux États-Unis, portant le parc installé à 547 systèmes dans le pays. La marge brute s'est améliorée à 64 % contre 56 % l'année précédente. Malgré une augmentation des charges d'exploitation à 71,6 millions de dollars, la perte nette a diminué à 24,7 millions de dollars contre 26,0 millions l'année précédente.
PROCEPT a relevé ses prévisions de chiffre d'affaires pour 2025 à 323 millions de dollars, représentant une croissance de 44 %, et prévoit une marge brute annuelle d'environ 64,5 %.
PROCEPT BioRobotics (PRCT) meldete starke Finanzergebnisse für das erste Quartal 2025 mit Gesamtumsatz von 69,2 Millionen US-Dollar, was einem Anstieg von 55 % im Jahresvergleich entspricht. Die US-Leistung zeigte ein deutliches Wachstum, wobei die Erlöse aus Handstücken und Verbrauchsmaterialien 38,0 Millionen US-Dollar (61 % Steigerung) und die Systemerlöse 18,7 Millionen US-Dollar (31 % Steigerung) erreichten. Die internationalen Erlöse verdoppelten sich auf 8,9 Millionen US-Dollar.
Das Unternehmen verkaufte 43 neue robotische Systeme in den USA, womit die Gesamtzahl der installierten Systeme in den USA auf 547 stieg. Die Bruttomarge verbesserte sich auf 64 % im Vergleich zu 56 % im Vorjahr. Trotz gestiegener Betriebsausgaben von 71,6 Millionen US-Dollar sank der Nettoverlust von 26,0 Millionen US-Dollar im Vorjahr auf 24,7 Millionen US-Dollar.
PROCEPT hob seine Umsatzprognose für 2025 auf 323 Millionen US-Dollar an, was einem Wachstum von 44 % entspricht, und erwartet eine Bruttomarge für das Gesamtjahr von etwa 64,5 %.
- Total revenue grew 55% YoY to $69.2 million
- U.S. handpiece and consumables revenue increased 61% YoY
- International revenue doubled with 104% growth
- Gross margin improved to 64% from 56% YoY
- Net loss decreased to $24.7M from $26.0M YoY
- Increased 2025 revenue guidance to $323M
- Strong cash position of $319.2M
- Operating expenses increased 36% to $71.6M
- Continued net loss of $24.7M in Q1
- Potential gross margin headwind of $5.0M due to tariffs
- Projected Adjusted EBITDA loss of $35.0M for 2025
Insights
PROCEPT's Q1 results show impressive 55% revenue growth, margin expansion to 64%, and increased 2025 guidance - strong execution toward profitability.
PROCEPT BioRobotics delivered exceptional Q1 2025 performance with $69.2 million revenue, representing
Gross margin expanded substantially to
While PROCEPT remains unprofitable with a
The balance sheet remains strong with
Most notably,
PROCEPT demonstrates strong clinical adoption with 43 new U.S. systems sold, 61% consumables growth, and significant IDN penetration for Aquablation therapy.
PROCEPT BioRobotics has reached a critical inflection point in market adoption for its Aquablation therapy, evidenced by 43 new robotic systems placed in the U.S. during Q1 2025 alone. The company's installed base has now reached 547 systems in the U.S., creating a substantial foundation for recurring revenue.
The
Most significantly, approximately
The CEO's reference to the "saline disruption" being resolved removes a prior operational headwind affecting procedure volumes. With this constraint eliminated and the Hydros™ system gaining market momentum, the growth trajectory appears sustainable.
The extraordinary
The classic razor/razorblade model is executing effectively, with consumables growth outpacing system revenue, indicating increasing utilization per installed system. This virtuous cycle of expanding installed base and growing per-system utilization creates compounding revenue growth potential.
SAN JOSE, Calif., April 24, 2025 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics® Corporation (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today reported unaudited financial results for the quarter ended March 31, 2025.
Recent Highlights
- Total revenue of
$69.2 million for the first quarter of 2025, an increase of55% compared to the prior year period in 2024 - U.S. handpiece and consumables revenue of 38.0 million for the first quarter of 2025, an increase of
61% compared to the prior year period in 2024 - Sold 43 new robotic systems in the U.S. in the first quarter of 2025
- U.S. system and rental revenue of
$18.7 million for the first quarter of 2025, an increase of31% compared to the prior year period in 2024 - International revenue of
$8.9 million for the first quarter of 2025, an increase of104% compared to the prior year period in 2024 - Increased fiscal year 2025 total revenue guidance to
$323 million , an increase of44% compared to the prior year period in 2024
“We began 2025 with strong performance, delivering total revenue growth of
First Quarter 2025 Financial Results
Total revenue for the first quarter of 2025 was
Gross margin for the first quarter 2025 was
Operating expenses in the first quarter of 2025 were
Net loss was
Cash, cash equivalents and restricted cash balances as of March 31, 2025, totaled
Full Year 2025 Financial Guidance
- The Company projects revenue for the full year 2025 to be
$323.0 million , which represents44% growth over the Company’s prior year revenue. This compares to previous revenue guidance of$320.0 million . - The Company expects full year 2025 gross margin to be approximately
64.5% . Should global tariff rates remain at current levels, the Company estimates a potential gross margin headwind of approximately$5.0 million , representing a reduction of approximately 150-basis points from our baseline guidance of64.5% . The majority of this impact is anticipated in the second half of 2025. - The Company projects full year 2025 total operating expense of approximately
$300.0 million and full year 2025 Adjusted EBITDA loss to be ($35.0) million , both are unchanged from previously issued guidance.
Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see the section below titled “Use of Non-GAAP Financial Measures (Unaudited).”
Webcast and Conference Call Information
PROCEPT BioRobotics will host a conference call to discuss the first quarter 2025 financial results on Thursday, April 24, 2025, at 8:00 a.m. Eastern Time.
Investors interested in listening to the conference call may do so by following one of the below links:
- Webcast link for interested listeners:
- Dial-in registration for sell-side research analysts:
About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics’ mission is to revolutionize BPH treatment globally in partnership with urologists by delivering best-in-class robotic solutions that positively impact patients and drive value. PROCEPT BioRobotics manufactures the AQUABEAM® and HYDROS Robotic Systems. The HYDROS Robotic System is the only AI-Powered, robotic technology that delivers Aquablation therapy. PROCEPT BioRobotics designed Aquablation therapy to deliver effective, safe, and durable outcomes for males suffering from lower urinary tract symptoms or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. The Company has developed a significant and growing body of clinical evidence with over 150 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.
Use of Non-GAAP Financial Measures (Unaudited)
This press release references Adjusted EBITDA, a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization and stock-based compensation. Non-GAAP financial measures are not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.
The Company believes that presenting Adjusted EBITDA provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.
Forward Looking Statements
This release contains forward‐looking statements within the meaning of federal securities laws, including with respect to the Company’s projected financial performance for full year 2025, statements regarding the potential utilities, values, benefits and advantages of Aquablation therapy performed using PROCEPT BioRobotics’ products, including AquaBeam or Hydros Robotic Systems, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on the Company’s current expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which the Company is not currently aware. Forward-looking statements may include statements regarding financial guidance, market opportunity and penetration, clinical trial outcomes, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, gross margins, profitability, operating expenses, installed base growth, commercial momentum and overall business strategy. Forward‐looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward‐looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward‐looking statements as a result of these risks and uncertainties. These risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on Form 10-K filed with the SEC on February 27, 2025, and amended on April 11, 2025, and subsequent quarterly reports on Form 10-Q. PROCEPT BioRobotics does not undertake any obligation to update forward‐looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward‐looking statements contained herein. These forward-looking statements should not be relied upon as representing PROCEPT BioRobotics’ views as of any date subsequent to the date of this press release.
Important Safety Information
All surgical treatments have inherent and associated side effects. For a list of potential side effects visit https://aquablation.com/safety-information/
Investor Contact:
Matt Bacso
VP, Investor Relations and Business Operations
m.bacso@procept-biorobotics.com
| PROCEPT BioRobotics Corporation | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (Unaudited, in thousands, except per share data) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue | $ | 69,162 | $ | 44,539 | ||||
| Cost of sales | 25,001 | 19,505 | ||||||
| Gross profit | 44,161 | 25,034 | ||||||
| Operating expenses: | ||||||||
| Research and development | 16,402 | 13,084 | ||||||
| Selling, general and administrative | 55,197 | 39,599 | ||||||
| Total operating expenses | 71,599 | 52,683 | ||||||
| Loss from operations | (27,438 | ) | (27,649 | ) | ||||
| Interest expense | (877 | ) | (1,045 | ) | ||||
| Interest and other income, net | 3,578 | 2,737 | ||||||
| Net loss | $ | (24,737 | ) | $ | (25,957 | ) | ||
| Net loss per share, basic and diluted | $ | (0.45 | ) | $ | (0.51 | ) | ||
| Weighted-average common shares used to | ||||||||
| Compute net loss per share attributable to | ||||||||
| Common shareholders, basic and diluted | 54,917 | 51,011 | ||||||
| PROCEPT BioRobotics Corporation | |||||||
| RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA | |||||||
| (Unaudited, in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| Net loss | $ | (24,737 | ) | $ | (25,957 | ) | |
| Depreciation and amortization expense | 1,475 | 1,184 | |||||
| Stock-based compensation expense | 10,108 | 6,256 | |||||
| Interest (income) and interest expense, net | (2,654 | ) | (1,838 | ) | |||
| Adjusted EBITDA | $ | (15,808 | ) | $ | (20,355 | ) | |
| PROCEPT BioRobotics Corporation | |||
| RECONCILIATION OF GAAP NET LOSS TO ADJUSTED 2025 EBITDA Guidance | |||
| (Unaudited, in thousands) | |||
| 2025 | |||
| Net loss | $ | (82,400 | ) |
| Depreciation and amortization expense | 6,800 | ||
| Stock-based compensation expense | 50,000 | ||
| Interest (income) and interest expense, net | (9,400 | ) | |
| Adjusted EBITDA | $ | (35,000 | ) |
| PROCEPT BioRobotics Corporation | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (Unaudited, in thousands) | |||||||
| March 31, 2025 | December 31, 2024 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 316,207 | $ | 333,725 | |||
| Accounts receivable, net | 79,267 | 83,496 | |||||
| Inventory | 62,330 | 56,168 | |||||
| Prepaid expenses and other current assets | 7,987 | 8,453 | |||||
| Total current assets | 465,791 | 481,842 | |||||
| Restricted cash, non-current | 3,038 | 3,038 | |||||
| Property and equipment, net | 28,127 | 26,709 | |||||
| Operating lease right-of-use assets, net | 18,605 | 18,941 | |||||
| Intangible assets, net | 864 | 932 | |||||
| Other assets | 2,950 | 2,555 | |||||
| Total assets | $ | 519,375 | $ | 534,017 | |||
| Liabilities and Stockholders' Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 14,827 | $ | 10,032 | |||
| Accrued compensation | 14,976 | 21,537 | |||||
| Deferred revenue | 9,799 | 9,565 | |||||
| Operating leases, current | 1,983 | 1,910 | |||||
| Loan facility liability | 2,000 | 2,000 | |||||
| Other current liabilities | 8,479 | 8,089 | |||||
| Total current liabilities | 52,064 | 53,133 | |||||
| Long-term debt | 51,498 | 51,472 | |||||
| Operating leases, non-current | 26,332 | 26,868 | |||||
| Other liabilities | 324 | 324 | |||||
| Total liabilities | 130,218 | 131,797 | |||||
| Stockholders’ equity: | |||||||
| Additional paid-in capital | 959,656 | 948,091 | |||||
| Accumulated other comprehensive gain | 223 | 114 | |||||
| Accumulated deficit | (570,722 | ) | (545,985 | ) | |||
| Total stockholders’ equity | 389,157 | 402,220 | |||||
| Total liabilities and stockholders’ equity | $ | 519,375 | $ | 534,017 | |||
| PROCEPT BioRobotics Corporation | |||||||
| REVENUE BY TYPE AND GEOGRAPHY | |||||||
| (Unaudited, in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| U.S. | |||||||
| System sales and rentals | $ | 18,687 | $ | 14,236 | |||
| Handpieces and other consumables | 38,011 | 23,618 | |||||
| Service | 3,596 | 2,347 | |||||
| Total U.S. revenue | 60,294 | 40,201 | |||||
| Outside of U.S. | |||||||
| System sales and rentals | 3,853 | 1,740 | |||||
| Handpieces and other consumables | 4,477 | 2,343 | |||||
| Service | 538 | 255 | |||||
| Total outside of U.S. revenue | 8,868 | 4,338 | |||||
| Total revenue | $ | 69,162 | $ | 44,539 | |||
FAQ
What was PRCT's revenue growth in Q1 2025?
How many robotic systems did PRCT install in the US during Q1 2025?
What is PROCEPT BioRobotics' revenue guidance for 2025?
How did PRCT's international revenue perform in Q1 2025?
What was PRCT's gross margin in Q1 2025?
