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PROCEPT BioRobotics
(NASDAQ:PRCT)
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Rating:48Neutral
Price Target:
$19.50
▼(-22.43% Downside)
Action:Reiterated
Date:06/16/26
The score is held down primarily by persistent losses and substantial cash burn despite strong revenue growth and improving gross margins. Technicals also indicate a weak trend (below major moving averages). Offsetting these, management reiterated robust FY2026 growth and margin guidance with an expected Q4 adjusted EBITDA inflection, but execution and cost/tariff headwinds remain key risks.
Positive Factors
Recurring consumable revenue stream
A high‑value, per‑procedure consumable (handpiece ASP ≈ $3,500) tied to each case creates a durable recurring revenue stream anchored to installed systems and procedure growth. This improves revenue visibility, drives high incremental margins per case, and underpins long‑term unit economics as procedures scale.
Negative Factors
Persistent negative operating and free cash flow
Ongoing sizable negative operating and free cash flows mean the business remains dependent on external financing or existing cash to fund growth and trials. Persistent cash burn limits flexibility, raises refinancing risk if markets tighten, and delays self‑funded scaling despite improving trends.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable revenue stream
A high‑value, per‑procedure consumable (handpiece ASP ≈ $3,500) tied to each case creates a durable recurring revenue stream anchored to installed systems and procedure growth. This improves revenue visibility, drives high incremental margins per case, and underpins long‑term unit economics as procedures scale.
Read all positive factors
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.
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The Fly
The FlyPROCEPT BioRobotics (PRCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.19B
Dividend YieldN/A
Average Volume (3M)1.57M
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth29.26%
EPS Growth-7.59%
CountryUS
Employees756
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.82
Shares Outstanding56,918,842
10 Day Avg. Volume1,458,815
30 Day Avg. Volume1,572,801
Financial Highlights & Ratios
PEG Ratio10.67
Price to Book (P/B)4.78
Price to Sales (P/S)5.67
P/FCF Ratio-29.95
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue3.09
Enterprise Value/Gross Profit4.91
Enterprise Value/Ebitda-10.82
Forecast
1Y Price Target
$29.38Price Target Upside16.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-1.54
Revenue Forecast (FY)$397.46M
PROCEPT BioRobotics Business Overview & Revenue Model
Company Description
PROCEPT BioRobotics Corporation specializes in pioneering surgical robotic technologies, offering innovative solutions within the field of urology. Its flagship product is the AquaBeam Robotic System, a sophisticated, image-guided surgical robot d...
How the Company Makes Money
PROCEPT BioRobotics primarily makes money by selling and placing its AQUABEAM Robotic System into hospitals and surgical centers and then generating recurring revenue from the installed base through procedure-related disposable and consumable prod...
PROCEPT BioRobotics Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and commercial trajectory: robust top‑line growth (20% revenue; ~30% procedure growth), margin expansion to management targets (65% gross margin), pricing discipline and meaningful clinical/regulatory wins (EAU guideline upgrade, FDA clearance). These positives are balanced against higher operating expenses, larger GAAP and adjusted EBITDA losses in Q1, tariff headwinds and short‑term disruption from a commercial realignment that push some benefits into the back half of 2026. Management reaffirmed full‑year guidance while taking a prudent near‑term stance, expecting improved leverage and positive EBITDA in Q4.Positive Updates
Revenue Growth
Total revenue of $83.1 million in Q1 2026, representing 20% year‑over‑year growth and setting a strong start to the year.
Negative Updates
GAAP Losses and EBITDA Pressure
Net loss of $31.6 million in Q1 2026 compared to $24.7 million in Q1 2025; adjusted EBITDA loss of $18.1 million vs a loss of $15.8 million a year ago — indicating larger absolute losses despite revenue growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total revenue of $83.1 million in Q1 2026, representing 20% year‑over‑year growth and setting a strong start to the year.
Read all positive updates
Company Guidance
Management reiterated full-year 2026 guidance of total revenue of approximately $390–$410 million (growth ~27–33% vs. 2025), including international revenue of $50–$51 million, total U.S. procedures of 60,000–64,000 (growth ~39–48%), and a full-year gross margin of ~65% (which assumes $5–$6M of tariff expense vs. $1.3M in FY2025 and excludes potential tariff-refund upside). They now expect new U.S. system pricing of $450,000–$460,000 for the remainder of the year (implying a full-year system ASP toward ~$460,000), a full-year adjusted EBITDA loss of $30M to $17M with positive adjusted EBITDA in Q4 at both ends of the revenue range, and Q2 revenue of $91–$95M (growth ~15–20%); management also reiterated a ~1:1 handpiece-to-procedure ratio for the year with handpiece ASP ≈ $3,500. For context, Q1 results that inform the guide included revenue of $83.1M (20% YoY), U.S. revenue $72M (19% YoY), ~12,200 U.S. procedures (≈30% YoY), 49 Hydros systems sold (ASP ≈ $485,000), U.S. handpiece/consumable revenue $43M, Q1 gross margin 65%, adjusted EBITDA loss $18.1M, net loss $31.6M, and cash/reserves of $249M as of March 31, 2026.PROCEPT BioRobotics Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
66
Positive
Cash Flow
37
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 322.02M | 308.05M | 224.50M | 136.19M | 75.01M | 34.47M |
| Gross Profit | 202.81M | 196.23M | 137.10M | 71.05M | 37.09M | 15.87M |
| EBITDA | -92.11M | -85.41M | -82.00M | -98.09M | -79.13M | -50.72M |
| Net Income | -102.47M | -95.57M | -91.41M | -105.90M | -87.15M | -59.85M |
Balance Sheet | ||||||
| Total Assets | 487.06M | 508.08M | 534.02M | 404.72M | 309.33M | 337.02M |
| Cash, Cash Equivalents and Short-Term Investments | 245.64M | 286.50M | 333.73M | 257.22M | 222.64M | 304.32M |
| Total Debt | 51.66M | 51.62M | 80.25M | 79.20M | 77.32M | 54.10M |
| Total Liabilities | 139.40M | 142.21M | 131.80M | 123.97M | 112.26M | 69.93M |
| Stockholders Equity | 347.67M | 365.87M | 402.22M | 280.75M | 197.07M | 267.09M |
Cash Flow | ||||||
| Free Cash Flow | -80.57M | -58.34M | -103.62M | -133.21M | -83.03M | -57.93M |
| Operating Cash Flow | -70.13M | -48.98M | -99.21M | -108.00M | -80.38M | -57.33M |
| Investing Cash Flow | -10.43M | -9.36M | -4.41M | -25.21M | -2.65M | -592.00K |
| Financing Cash Flow | 10.12M | 11.19M | 180.13M | 167.79M | 3.61M | 262.12M |
PROCEPT BioRobotics Technical Analysis
Negative
25.14
Price Trends
24.74
Negative
25.08
Negative
28.82
Negative
Market Momentum
-1.33
Positive
40.89
Neutral
11.63
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 25.14 is above the 20-day moving average (MA) of 22.01, above the 50-day MA of 24.74, and below the 200-day MA of 28.82, indicating a bearish trend. The MACD of -1.33 indicates Positive momentum. The RSI at 40.89 is Neutral, neither overbought nor oversold. The STOCH value of 11.63 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $4.54B | 41.91 | 9.13% | ― | 12.40% | ― | |
61 Neutral | $1.49B | 11.43 | 17.98% | ― | 8.94% | 102.92% | |
54 Neutral | $1.17B | 96.09 | 2.66% | ― | 17.59% | ― | |
53 Neutral | $1.47B | -11.54 | -443.09% | ― | 22.55% | 27.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $1.19B | -11.48 | -27.70% | ― | 29.26% | -7.59% | |
46 Neutral | $758.50M | ― | -23.00% | ― | 119.23% | 40.14% |
* Healthcare Sector Average
PRCT
PROCEPT BioRobotics
20.89
-37.28
-64.09%
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INSP
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51.76
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SSII
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3.79
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-20.21%
PROCEPT BioRobotics Corporate Events
Executive/Board ChangesShareholder Meetings
PROCEPT BioRobotics Shareholders Back Board, Pay and Auditor
Positive
Jun 10, 2026
At PROCEPT BioRobotics Corporation’s annual meeting of stockholders held on June 9, 2026, all director nominees listed in the company’s April 22, 2026 proxy statement were elected to the board to serve until the 2029 annual meeting or ...
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.