Procept Biorobotics Corp. ( (PRCT) ) has released its Q4 earnings. Here is a breakdown of the information Procept Biorobotics Corp. presented to its investors.
PROCEPT BioRobotics Corporation, a surgical robotics company specializing in urology, is known for its innovative solutions like the AQUABEAM® and HYDROS™ Robotic Systems, which provide advanced treatments for conditions such as benign prostatic hyperplasia (BPH).
The company recently announced its financial results for the fourth quarter and full year of 2024, highlighting significant revenue growth and strategic advancements. Notably, PROCEPT BioRobotics achieved a total revenue of $68.2 million in the fourth quarter, marking a 57% increase compared to the previous year, and a full-year revenue of $224.5 million, up 65% from 2023.
Key financial metrics revealed a robust performance, with U.S. system revenue increasing by 67% in the fourth quarter and international revenue growing by 137%. Despite an acute saline shortage impacting some procedures, the company improved its gross margin to 64% in the fourth quarter, up from 49% the previous year. Operating expenses rose due to expansion efforts, but the net loss narrowed to $18.9 million from $27.5 million in the prior year period.
Looking ahead, PROCEPT BioRobotics has issued a revenue guidance of approximately $320 million for 2025, indicating a 42% growth over 2024. The company remains optimistic about its long-term growth strategy, driven by the recent FDA clearance of its HYDROS™ Robotic System and approval for a pivotal prostate cancer study, positioning itself for continued innovation and market expansion.