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Procept Biorobotics Corp. (PRCT)
:PRCT
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PROCEPT BioRobotics
(NASDAQ:PRCT)
Rating:52Neutral
Price Target:
$40.00
▼(-3.82% Downside)
Positive Factors
International Expansion
International revenue was $9.6M, a 69% improvement from last year, marking a record revenue performance for the international business.
Leadership Change
Larry Wood, an industry veteran, is appointed as the new CEO of Procept Biorobotics Corp, bringing valuable perspective and expertise.
Regulatory Environment
Reimbursement noise is now behind it with solid physician fee and OPPS rates.
Negative Factors
Investor Sentiment
Investor pushback has been highlighted following recent stock weakness.
Leadership Transition Concerns
The newly announced CCO transition on top of a CEO transition will create concerns about the business.
Sales Guidance
System sales guidance was decreased by 1.5% to account for less replacements than previously expected.
PROCEPT BioRobotics (PRCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.31B
Dividend YieldN/A
Average Volume (3M)1.38M
Price to Earnings (P/E)―
Beta (1Y)1.30
Revenue Growth55.71%
EPS Growth24.37%
CountryUS
Employees756
SectorHealthcare
Sector Strength49
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.35
Shares Outstanding55,635,940
10 Day Avg. Volume1,751,750
30 Day Avg. Volume1,376,727
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.28
Enterprise Value/Revenue11.92
Enterprise Value/Gross Profit19.17
Enterprise Value/Ebitda-36.83
Forecast
1Y Price Target
$66.78Price Target Upside60.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
PROCEPT BioRobotics Business Overview & Revenue Model
Company DescriptionPROCEPT BioRobotics Corporation (PRCT) is a medical technology company specializing in the development of innovative robotic solutions for the treatment of urological diseases. The company's flagship product, the AquaBeam Robotic System, utilizes advanced imaging and robotics to perform minimally invasive surgery for benign prostatic hyperplasia (BPH), a common condition affecting older men. By focusing on enhancing patient outcomes and reducing the side effects associated with traditional surgical methods, PROCEPT BioRobotics aims to revolutionize the standard of care in the urology sector.
How the Company Makes MoneyPROCEPT BioRobotics generates revenue primarily through the sale and leasing of its AquaBeam Robotic System to healthcare providers and hospitals. The company also earns income from the sale of disposable handpieces and accessories used in conjunction with the system during procedures. In addition, service and maintenance contracts provide a recurring revenue stream, as customers require ongoing support and system upkeep. Partnerships with healthcare organizations and collaborations with medical professionals further bolster the company's market presence and contribute to its financial growth by driving adoption and expanding its customer base.
PROCEPT BioRobotics Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: -8.97%|
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Positive
The earnings call showcased strong revenue growth, increased handpiece sales, improved gross margins, and favorable Medicare updates, indicating positive operational momentum. However, challenges such as the timing of system sales, increased operating expenses, continued net loss, and leadership transitions were highlighted as potential concerns. Despite these challenges, the overall sentiment is positive due to the significant achievements and potential for future growth.Q2-2025 Updates
Positive Updates
Strong Quarterly Revenue Growth
Total revenue for the second quarter of 2025 was $79.2 million, representing growth of 48% compared to the second quarter of 2024. U.S. revenue grew by 46%, and international revenue grew by 69% compared to the prior year period.
Increased Handpiece Sales
Handpiece and other consumable revenue for the second quarter of 2025 was $43.1 million, representing growth of 58% compared to the second quarter of 2024, with 12,750 handpieces sold, marking a 59% year-over-year unit growth.
Improved Gross Margins
Gross margin for the second quarter of 2025 was 65.4%, an increase of 640 basis points year-over-year, driven by improved operational efficiencies and higher average selling prices.
Favorable Tariff Developments
Chinese tariff rates have declined to approximately 55%, reducing the estimated cost of goods sold headwinds in the second half of 2025 to approximately $1 million to $2 million from the previously estimated $5 million.
Positive Medicare Updates
Aquablation therapy was assigned a Category I CPT code effective January 1, 2026, with a proposed payment of 16.14 total RVUs, marking a significant milestone for PROCEPT and reinforcing the clinical value and growing adoption of Aquablation therapy.
Negative Updates
System Sales Timing
The quarterly volume of system sales has shifted slightly due to the timing of certain sales that moved from June into the third quarter, affecting the quarterly cadence of revenue.
Operating Expenses Increase
Total operating expenses for the second quarter of 2025 amounted to $74 million, compared to $58.3 million during the same period in the prior year, reflecting a 29% increase.
Continued Net Loss
Net loss was $19.6 million for the second quarter of 2025, compared to $25.6 million in the same period of the prior year, indicating ongoing financial challenges despite some improvement.
CEO and CCO Transition
Reza Zadno announced his retirement, and Sham Shiblaq will no longer serve as CCO effective September 1, potentially causing disruption during the transition period.
Company Guidance
During the PROCEPT BioRobotics Second Quarter 2025 Earnings Conference Call, the company provided guidance for the remainder of the year, with expectations for full-year 2025 total revenue to reach approximately $325.5 million, representing a growth of about 45% compared to 2024. The company anticipates selling approximately 210 new robotic systems in the U.S. within the year, with third-quarter greenfield system sales projected to total around 52 units at an average selling price of $440,000 per system. Additionally, PROCEPT expects to sell approximately 53,000 handpieces, marking a 64% increase in unit volume from the previous year. The full-year international revenue is expected to be about $36 million, demonstrating 50% annual growth. The company aims for a full-year gross margin of approximately 64.5%, at the high end of its previous guidance, despite some tariff-related cost headwinds. Operating expenses for 2025 are projected at approximately $302 million, with a full-year adjusted EBITDA loss expected to be around $35 million, approaching breakeven in the fourth quarter.PROCEPT BioRobotics Financial Statement Overview
Summary
PROCEPT BioRobotics shows strong revenue growth and a robust equity position, indicative of potential long-term stability. However, persistent operating losses and negative cash flows highlight ongoing challenges in profitability and cash management. Continued focus on reducing operational costs and improving cash flow is essential for future sustainability.Income Statement
The company exhibits strong revenue growth with a TTM increase of 10.96% from the previous year. However, it is still operating at a loss with a negative net profit margin of -36.20% and negative EBIT and EBITDA margins, indicating challenges in achieving profitability. The gross profit margin of 62.19% suggests good product pricing but is offset by high operating expenses.55
Neutral
Balance Sheet
The balance sheet shows a healthy equity position with a substantial equity ratio of 74.93%, indicating low leverage and strong capital structure. The debt-to-equity ratio is 0.20, reflecting modest debt levels compared to equity, which enhances financial stability. However, the company has not yet achieved positive returns on equity due to ongoing net losses.60
Neutral
Cash Flow
The company has a negative free cash flow, although there is a slight improvement with a growth rate of 14.74% in TTM. Operating cash flow remains negative and the operating cash flow to net income ratio is unfavorable, indicating ongoing cash flow challenges. Despite these issues, the company secured significant financing, enhancing liquidity.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 249.12M | 224.50M | 136.19M | 75.01M | 34.47M | 7.72M |
| Gross Profit | 154.96M | 137.10M | 71.05M | 37.09M | 15.87M | -1.25M |
| EBITDA | -80.65M | -82.00M | -98.09M | -77.65M | -51.06M | -45.05M |
| Net Income | -90.19M | -91.41M | -105.90M | -93.58M | -62.38M | -58.26M |
Balance Sheet | ||||||
| Total Assets | 519.38M | 534.02M | 404.72M | 309.33M | 337.02M | 125.97M |
| Cash, Cash Equivalents and Short-Term Investments | 316.21M | 333.73M | 257.22M | 221.86M | 304.32M | 100.13M |
| Total Debt | 81.81M | 80.25M | 79.20M | 77.32M | 54.10M | 54.76M |
| Total Liabilities | 130.22M | 131.80M | 123.97M | 112.26M | 69.93M | 308.87M |
| Stockholders Equity | 389.16M | 402.22M | 280.75M | 197.07M | 267.09M | -182.89M |
Cash Flow | ||||||
| Free Cash Flow | -88.21M | -103.62M | -133.21M | -83.03M | -57.93M | -48.58M |
| Operating Cash Flow | -83.91M | -99.21M | -108.00M | -80.38M | -57.33M | -48.34M |
| Investing Cash Flow | -4.30M | -4.41M | -25.21M | -2.65M | -592.00K | -233.00K |
| Financing Cash Flow | 178.84M | 180.13M | 167.79M | 3.61M | 262.12M | 106.77M |
PROCEPT BioRobotics Technical Analysis
Negative
41.59
Price Trends
54.97
Negative
55.32
Negative
67.18
Negative
Market Momentum
-4.72
Positive
31.84
Neutral
26.50
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 41.59 is below the 20-day moving average (MA) of 48.44, below the 50-day MA of 54.97, and below the 200-day MA of 67.18, indicating a bearish trend. The MACD of -4.72 indicates Positive momentum. The RSI at 31.84 is Neutral, neither overbought nor oversold. The STOCH value of 26.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRCT.
PROCEPT BioRobotics Risk Analysis
PROCEPT BioRobotics disclosed 77 risk factors in its most recent earnings report. PROCEPT BioRobotics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PROCEPT BioRobotics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.73B | 25.45 | 19.29% | ― | 40.98% | 34.80% | |
69 Neutral | $685.59M | ― | -4.48% | ― | 17.17% | 72.68% | |
65 Neutral | $3.74B | 47.16 | 5.15% | ― | 7.21% | -23.29% | |
57 Neutral | $2.93B | 30.62 | -17.87% | ― | 8.57% | -1154.64% | |
54 Neutral | $84.74M | ― | -9.80% | ― | 15.16% | -39.18% | |
52 Neutral | $2.31B | ― | -26.40% | ― | 55.71% | 24.37% | |
51 Neutral | $7.46B | -0.16 | -46.00% | 2.25% | 22.82% | -2.28% |
* Healthcare Sector Average
Performance Comparison
PRCT
PROCEPT BioRobotics
41.59
-24.00
-36.59%
ITGR
Integer Holdings
106.79
-15.74
-12.85%
UFPT
Ufp Technologies
219.54
-107.76
-32.92%
AXGN
AxoGen
14.93
2.67
21.78%
LIVN
LivaNova
53.72
7.74
16.83%
XTNT
Xtant Medical Holdings
0.63
0.01
1.61%
PROCEPT BioRobotics Corporate Events
Executive/Board ChangesFinancial Disclosures
PROCEPT BioRobotics Appoints New CEO Larry L. Wood
Positive
Jul 25, 2025
On July 23, 2025, PROCEPT BioRobotics announced the appointment of Larry L. Wood as President and CEO, effective September 2, 2025, succeeding Dr. Reza Zadno, who will retire on September 1, 2025. Dr. Zadno will transition to a consulting role, having led the company through significant growth, including the adoption of Aquablation therapy and a successful public offering. Mr. Wood, with over 40 years of experience in the medical technology industry, joins from Edwards Lifesciences and has been a member of PROCEPT BioRobotics’ board since 2024. The company also pre-announced second-quarter 2025 revenue of approximately $79.2 million, representing an annual growth of 48%.
The most recent analyst rating on (PRCT) stock is a Buy with a $99.00 price target. To see the full list of analyst forecasts on PROCEPT BioRobotics stock, see the PRCT Stock Forecast page.
Executive/Board ChangesShareholder Meetings
PROCEPT BioRobotics Elects Board at Annual Meeting
Neutral
Jun 11, 2025
On June 10, 2025, PROCEPT BioRobotics held its annual stockholders meeting where all director nominees were elected to the board until 2028. Additionally, the selection of PricewaterhouseCoopers LLP as the independent accounting firm for 2025 was ratified, and the executive compensation package was approved.
The most recent analyst rating on (PRCT) stock is a Buy with a $99.00 price target. To see the full list of analyst forecasts on PROCEPT BioRobotics stock, see the PRCT Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.