PROCEPT BioRobotics (PRCT) AI Stock Analysis

• Market Cap: $1.43B
• Dividend Yield: N/A
• Average Volume (3M): 1.76M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: 50.07%
• EPS Growth: 21.22%
• Country: US
• Employees: 756
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.53
• Shares Outstanding: 56,390,198
• 10 Day Avg. Volume: 3,032,072
• 30 Day Avg. Volume: 1,758,732
• PEG Ratio: 10.70
• Price to Book (P/B): 4.79
• Price to Sales (P/S): 5.69
• P/FCF Ratio: -30.05
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 3.67
• Enterprise Value/Gross Profit: 5.76
• Enterprise Value/Ebitda: -14.12
• 1Y Price Target: $33.25
• Price Target Upside: 37.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): -1.47
• Revenue Forecast (FY): $399.69M

• Rating: 50 Neutral
• Price Target: $24.00 ▼(-0.91% Downside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held back primarily by persistent losses and continued cash burn despite strong revenue growth and improving margins. Weak technical trend adds near-term risk, while constructive 2026 guidance and a clearer profitability trajectory provide the main offsets.

Positive Factors

Recurring, procedure-driven revenue model

The business mixes capital system sales with repeat consumable purchases per procedure, creating a durable annuity as installed systems scale. As procedures rise, recurring consumable revenue grows predictably, enhancing long-term revenue visibility and margin leverage independent of one-time system sales.

Robust procedure and installed-base growth

Sustained, high single- to triple-digit procedure growth and rapid installed-base expansion signal accelerating clinical adoption and network effects. A larger installed base increases recurring consumable pull-through and strengthens market position, enabling secular growth that should persist as clinical penetration remains low.

Improving margins and defined path to profitability

Gross margins have risen materially and management provides multi-year guidance targeting ~65% gross margin and Q4 2026 EBITDA positivity. Margin improvement from higher ASPs and consumable mix, combined with disciplined cost planning, supports a credible structural path toward sustained profitability if execution continues.

Negative Factors

Negative operating and free cash flow

Despite improvement, persistent negative operating and free cash flow implies continued funding needs until profitable operations and positive FCF are achieved. This ongoing cash burn constrains reinvestment flexibility and requires careful liquidity management even with a sizable cash balance today.

Meaningful net losses and negative returns on equity

Large negative net margins indicate the company still consumes shareholder capital as it scales. Until margins sustainably flip positive, ROE and capital efficiency will remain poor, increasing dilution or financing risk and delaying durable shareholder returns despite top-line momentum.

Execution and revenue-quality headwinds from commercial changes

Deliberate commercial changes improved long-term revenue quality but produced near-term destocking, lower consumable pull-through and execution risk. Elevated OpEx and tariff headwinds amplify this risk; sustained execution is required to convert reorganization benefits into predictable, durable procedure and consumable growth.

PROCEPT BioRobotics Business Overview & Revenue Model

Company Description

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally-invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH). The company also designs Aquablation therapy for males suffering from lower urinary tract symptoms due to BPH. As of December 31, 2021, it had an install base of 130 AquaBeam Robotic Systems worldwide comprising 78 in the United States. PROCEPT BioRobotics Corporation was incorporated in 2007 and is headquartered in Redwood City, California.

How the Company Makes Money

PROCEPT BioRobotics generates revenue primarily through the sale of its AQUABEAM Robotic System, which is complemented by disposable instruments and accessories used in surgical procedures. The company typically earns money from the initial sale of the robotic systems, which are sold to hospitals and surgical centers, as well as recurring revenue from the sale of consumable products required for each procedure. Additionally, PROCEPT may engage in partnerships with healthcare providers and institutions to enhance its market reach and implement its technologies in a broader range of healthcare settings, contributing to its overall earnings. These partnerships often facilitate training, adoption, and integration of its systems into clinical practice, thereby driving further sales and increasing the company's revenue base.

PROCEPT BioRobotics Financial Statement Overview

Summary

Explosive multi-year revenue growth and improving gross margin are major positives, and leverage is conservative (improving debt-to-equity). However, losses remain large (net margin ~-31%), ROE is negative, and operating/free cash flow are still meaningfully negative despite some improvement—keeping financial performance below average overall.

Income Statement

Revenue growth has been exceptionally strong over the last several years (2025: +272% to $308M after +65% in 2024 and +82% in 2023), and gross margin has steadily improved to ~64% in 2025 from ~52% in 2023 and ~49% in 2022. However, profitability remains a clear weak spot: the company is still operating at meaningful losses (2025 net margin ~-31%), with negative EBIT/EBITDA, indicating the business has not yet scaled its cost structure to profitability despite rapid top-line expansion.

Balance Sheet

The balance sheet looks conservatively levered, with debt-to-equity improving to ~0.14 in 2025 from ~0.28 in 2023 and ~0.39 in 2022, providing financial flexibility. Equity is sizable ($366M in 2025), which helps cushion ongoing losses. The key weakness is continued negative returns on equity (2025 ROE ~-26%), reflecting that shareholder capital is still being consumed by losses even as leverage remains controlled.

Cash Flow

Cash generation remains pressured: operating cash flow and free cash flow are negative across all years shown, with 2025 operating cash flow at about -$49M and free cash flow about -$58M. While cash burn improved substantially versus 2024 (operating cash flow was about -$99M and free cash flow about -$104M), free cash flow deteriorated year-over-year in 2025 (growth ~-26.8%), highlighting ongoing funding needs and execution risk until the company reaches sustainable positive cash flow.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	308.05M	224.50M	136.19M	75.01M	34.47M
Gross Profit	196.23M	137.10M	71.05M	37.09M	15.87M
EBITDA	-80.11M	-82.00M	-98.09M	-79.13M	-50.72M
Net Income	-95.57M	-91.41M	-105.90M	-87.15M	-59.85M
Balance Sheet
Total Assets	508.08M	534.02M	404.72M	309.33M	337.02M
Cash, Cash Equivalents and Short-Term Investments	286.50M	333.73M	257.22M	222.64M	304.32M
Total Debt	51.62M	80.25M	79.20M	77.32M	54.10M
Total Liabilities	142.21M	131.80M	123.97M	112.26M	69.93M
Stockholders Equity	365.87M	402.22M	280.75M	197.07M	267.09M
Cash Flow
Free Cash Flow	-58.34M	-103.62M	-133.21M	-83.03M	-57.93M
Operating Cash Flow	-48.98M	-99.21M	-108.00M	-80.38M	-57.33M
Investing Cash Flow	-9.36M	-4.41M	-25.21M	-2.65M	-592.00K
Financing Cash Flow	11.19M	180.13M	167.79M	3.61M	262.12M

PROCEPT BioRobotics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 24.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRCT, the sentiment is Negative. The current price of 24.22 is below the 20-day moving average (MA) of 26.96, below the 50-day MA of 29.41, and below the 200-day MA of 39.95, indicating a bearish trend. The MACD of -1.28 indicates Positive momentum. The RSI at 37.75 is Neutral, neither overbought nor oversold. The STOCH value of 66.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRCT.

PROCEPT BioRobotics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LIVN	68 Neutral	$3.54B	-13.83	-19.24%	―	8.97%	-1024.86%
INSP	66 Neutral	$1.79B	18.63	19.77%	―	16.81%	34.90%
AORT	59 Neutral	$1.81B	211.68	-2.45%	―	9.81%	-1067.00%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ATEC	51 Neutral	$1.90B	-22.02	-630.66%	―	27.11%	17.66%
PRCT	50 Neutral	$1.43B	-18.34	-24.89%	―	50.07%	21.22%
SSII	45 Neutral	$954.55M	-84.61	-43.42%	―	159.43%	67.42%

PROCEPT BioRobotics Corporate Events

PROCEPT BioRobotics Adds Independent Director to Audit Committee

On March 5, 2026, PROCEPT BioRobotics expanded its board of directors from eight to nine members and appointed former Shockwave Medical Chief Financial Officer Daniel Puckett as a Class III director, with his term running until the 2027 annual meeting of stockholders. The board also named him to its Audit Committee, enhancing the company’s financial oversight with a seasoned medtech finance executive.

The board determined that Puckett meets SEC and Nasdaq independence standards, reinforcing governance practices and qualifying him for Audit Committee service. His extensive background in senior finance roles at multiple life sciences and technology companies is expected to strengthen PROCEPT BioRobotics’ strategic and financial capabilities as it competes in the medical device and surgical robotics market.

The most recent analyst rating on (PRCT) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on PROCEPT BioRobotics stock, see the PRCT Stock Forecast page.

PROCEPT BioRobotics Highlights Growth Strategy at Investor Day

On February 26, 2026, PROCEPT BioRobotics held an Investor and Analyst Day at Nasdaq’s New York headquarters to outline its next chapter of growth in the BPH treatment market. Management highlighted that Aquablation penetration in the U.S. remains low relative to the roughly 40 million men living with BPH, underscoring a substantial runway for procedure and installed-base expansion.

The company reported more than 125,000 Aquablation procedures performed worldwide and a global installed base exceeding 900 systems, supported by Category I reimbursement in the U.S. as of January 1, 2026. Leadership emphasized improved organizational discipline, noting higher-than-expected handpiece pricing and a rising ratio of handpiece sales to procedures, which together are enhancing revenue quality and the path to profitability.

PROCEPT detailed a realignment of its commercial organization to put single-point accountability at the regional level, with area vice presidents and regional directors overseeing both capital sales and clinical procedure support. This structure is designed to accelerate procedure growth and reinforce Aquablation’s push toward becoming a standard of care for BPH surgery.

The company also introduced dedicated launch teams separating capital and procedure functions to more effectively open new accounts and grow procedure volume at existing sites. In pilot accounts during the fourth quarter of 2025, this launch model reduced the time from purchase order to the first ten cases by about 50%, suggesting a meaningful operational boost for hospitals and a faster ramp in system utilization.

The most recent analyst rating on (PRCT) stock is a Sell with a $20.00 price target. To see the full list of analyst forecasts on PROCEPT BioRobotics stock, see the PRCT Stock Forecast page.