PROCEPT BioRobotics (PRCT)
NASDAQ:PRCT
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PROCEPT BioRobotics
(NASDAQ:PRCT)
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Rating:47Neutral
Price Target:
$27.00
▲(13.11% Upside)
Action:ReiteratedDate:03/12/26
The score is held down primarily by ongoing losses and negative free cash flow despite rapid revenue growth and improving gross margin. Technicals are also weak with the stock below key moving averages and negative MACD. Earnings-call guidance and an articulated path to EBITDA improvement provide a meaningful offset, but near-term margin/OpEx and execution risks keep the overall score below average.
Positive Factors
Rapid Revenue & Margin Improvement
Sustained multi-year revenue acceleration and steady gross margin expansion reflect durable clinical adoption and improving unit economics for Aquablation. This trend supports scaling operating leverage as procedure volumes rise, making a structural path to profitability more attainable over the next several quarters.
Negative Factors
Negative Operating & Free Cash Flow
Despite cash improvement versus 2024, persistent negative operating and free cash flow means the business still consumes cash while scaling. Continued negative FCF increases reliance on the balance sheet or capital markets if growth or margin improvement slips, elevating execution risk through mid‑term milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid Revenue & Margin Improvement
Sustained multi-year revenue acceleration and steady gross margin expansion reflect durable clinical adoption and improving unit economics for Aquablation. This trend supports scaling operating leverage as procedure volumes rise, making a structural path to profitability more attainable over the next several quarters.
Read all positive factors
PROCEPT BioRobotics (PRCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.35B
Dividend YieldN/A
Average Volume (3M)2.03M
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth50.07%
EPS Growth21.22%
CountryUS
Employees756
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.53
Shares Outstanding56,390,198
10 Day Avg. Volume1,123,570
30 Day Avg. Volume2,028,663
Financial Highlights & Ratios
PEG Ratio10.70
Price to Book (P/B)4.79
Price to Sales (P/S)5.69
P/FCF Ratio-30.05
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue3.61
Enterprise Value/Gross Profit5.66
Enterprise Value/Ebitda-13.87
Forecast
1Y Price Target
$35.22Price Target Upside47.55% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-1.54
Revenue Forecast (FY)$396.11M
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 urolog...
How the Company Makes Money
PROCEPT primarily makes money by commercializing its Aquablation therapy platform through a mix of capital equipment and recurring, procedure-driven revenue. (1) Capital system sales: The company sells the HYDROS Robotic System to healthcare facil...
PROCEPT BioRobotics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Separates income from capital device sales, consumable disposables, and recurring services or training, showing how much revenue is one-time versus repeatable. A higher share of consumables and service revenue points to more predictable, annuity-like cash flow from the installed base, while heavy reliance on device sales makes results more dependent on hospital budgets and adoption cycles.
Separates income from capital device sales, consumable disposables, and recurring services or training, showing how much revenue is one-time versus repeatable. A higher share of consumables and service revenue points to more predictable, annuity-like cash flow from the installed base, while heavy reliance on device sales makes results more dependent on hospital budgets and adoption cycles.
Data provided by:
The Fly
The FlyPROCEPT BioRobotics Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presents a mix of strong operational momentum (notably ~69% Q4 procedure growth, 42% installed-base growth, international expansion, a healthy cash balance and explicit 2026 revenue/procedure guidance) and near-term headwinds (Q4 gross margin shortfall, widened net loss and adjusted EBITDA loss, higher OpEx and temporary commercial disruption). Management implemented deliberate changes—eliminating bulk discounts, realigning commercial organization and creating a launch team—that caused short-term revenue impact but are intended to improve ASP, predictability of revenue and time-to-value. Given the substantial top-line and procedural growth, clear multi-year guidance and an articulated path toward narrowing losses and positive Q4 2026 EBITDA, the positives outweigh the near-term negatives while acknowledging execution risk during the transition.Positive Updates
Strong Procedure Growth
Completed ~12,200 U.S. procedures in Q4 2025, representing ~69% year-over-year growth — signaling strong clinical adoption momentum.
Negative Updates
Quarterly Revenue Shortfall from Consumable Ordering Changes
Elimination of end-of-quarter bulk discounts and customer destocking caused handpiece unit sales (~9,400 in Q4) to be ~80% of procedures in Q4 (procedures exceeded handpieces) and resulted in lower-than-expected Q4 revenue and a reduction in projected 2026 handpiece revenue.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Procedure Growth
Completed ~12,200 U.S. procedures in Q4 2025, representing ~69% year-over-year growth — signaling strong clinical adoption momentum.
Read all positive updates
Company Guidance
Management updated 2026 guidance to total revenue of $390–$410 million (≈27%–33% growth vs. 2025), with international revenue of ~$50–51 million and total U.S. procedures of 60,000–64,000 (≈39%–48% growth); U.S. handpiece ASP is expected to be ~$3,500 (≈9% improvement vs. 2025) with handpiece units modeled roughly 1:1 to procedures, full‑year gross margin about 65% (including $5–6M of tariffs, a ~100 bps headwind), operating expenses of ~$350M (≈17% increase vs. 2025) and an adjusted EBITDA loss of ~$30M to $17M (company expects EBITDA positivity in Q4 2026 at both ends of the range). For Q1 2026 they guide 12,000–12,800 U.S. procedures (≈29%–37% growth), revenue of $79–82M (≈14%–19% growth) including ~ $20M of U.S. system revenue and ~$10M international, and expect a Q1 EBITDA loss on the order of ~$20M.PROCEPT BioRobotics Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
34
Negative
| 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
Negative
23.87
Price Trends
26.71
Negative
29.39
Negative
36.17
Negative
Market Momentum
-0.77
Positive
41.49
Neutral
8.43
Positive
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 23.87 is below the 20-day moving average (MA) of 25.67, below the 50-day MA of 26.71, and below the 200-day MA of 36.17, indicating a bearish trend. The MACD of -0.77 indicates Positive momentum. The RSI at 41.49 is Neutral, neither overbought nor oversold. The STOCH value of 8.43 is Positive, 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $3.54B | -13.83 | -21.49% | ― | 8.97% | -1024.86% | |
66 Neutral | $1.53B | 18.63 | 21.07% | ― | 16.81% | 34.90% | |
59 Neutral | $1.73B | 211.68 | 2.44% | ― | 9.81% | -1067.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.76B | -22.02 | -1760.45% | ― | 27.11% | 17.66% | |
49 Neutral | $861.00M | -88.99 | -30.23% | ― | 159.43% | 67.42% | |
47 Neutral | $1.35B | -18.34 | -25.13% | ― | 50.07% | 21.22% |
* Healthcare Sector Average
PRCT
PROCEPT BioRobotics
23.87
-30.81
-56.35%
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PROCEPT BioRobotics Corporate Events
Business Operations and StrategyExecutive/Board Changes
PROCEPT BioRobotics Adds Independent Director to Audit Committee
Positive
Mar 6, 2026
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 mee...
Business Operations and Strategy
PROCEPT BioRobotics Highlights Growth Strategy at Investor Day
Positive
Feb 26, 2026
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. r...
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.