PROCEPT BioRobotics Corporation
- Open
- 22.45
- Day high
- 22.73
- Day low
- 21.74
- Prev close
- 22.58
- Volume
- 1.3M
- Mkt cap
- $1.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.7
- P/S
- 4.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$28K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
PROCEPT BioRobotics Corporation (PRCT) is a Healthcare company listed on NASDAQ. The stock is down 61% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 1 published research article covering PRCT.
PROCEPT BioRobotics Corporation (PRCT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRCT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $-0.55 | $-0.56 | -1.8% | $83M | +3.2% |
| Feb 25, 2026 | $-0.32 | $-0.53 | -65.6% | $76M | -18.5% |
| Aug 6, 2025 | $-0.41 | $-0.35 | +14.6% | $79M | -6.1% |
| Apr 24, 2025 | $-0.49 | $-0.45 | +8.2% | $69M | +5.7% |
| Feb 25, 2025 | $-0.34 | $-0.35 | -2.9% | $68M | -10.2% |
| Aug 1, 2024 | $-0.52 | $-0.50 | +3.8% | $53M | +6.4% |
| May 1, 2024 | $-0.55 | $-0.51 | +7.3% | $45M | +7.1% |
| Feb 27, 2024 | $-0.44 | $-0.54 | -22.7% | $44M | +3.6% |
| Nov 1, 2023 | $-0.53 | $-0.51 | +3.8% | $35M | -14.2% |
| Jul 27, 2023 | $-0.57 | $-0.56 | +1.8% | $33M | +0.3% |
| Apr 27, 2023 | $-0.59 | $-0.63 | -6.8% | $24M | +0.2% |
| Feb 28, 2023 | $-0.53 | $-0.56 | -5.7% | $24M | -2.4% |
PRCT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | Harris Taylor C.director | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | Little Elisabeth Sandovaldirector | Grant | 3,315 | — |
| Jun 10, 2026 | Little Elisabeth Sandovaldirector | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | MOLL FREDERIC Hdirector | Grant | 3,315 | — |
| Jun 10, 2026 | MOLL FREDERIC Hdirector | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | PRESCOTT THOMAS Mdirector | Grant | 3,315 | — |
| Jun 10, 2026 | PRESCOTT THOMAS Mdirector | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | PUCKETT DANdirector | Grant | 3,315 | — |
| Jun 10, 2026 | PUCKETT DANdirector | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | Nouri Alalehofficer: EVP, CLO, CORP. SEC. | Sell | 285 | $28.48 |
| Jun 10, 2026 | Waters Kevinofficer: EVP, CFO | Sell | 357 | $28.48 |
| Jun 10, 2026 | Templin Barry Lofficer: EVP, Chief Technology Officer | Sell | 358 | $28.48 |
| Jun 10, 2026 | Desai Antal Rohitdirector | Grant | 3,315 | — |
| Jun 10, 2026 | Desai Antal Rohitdirector | Grant | 5,853 | $28.78 |
| Jun 10, 2026 | Dodrill Amy M.director | Grant | 3,315 | — |
Source: PRCT SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full PRCT insider & 13F page →PROCEPT BioRobotics Corporation company profile
Overview
PROCEPT BioRobotics Corporation (NASDAQ:PRCT) is a surgical robotics company founded in 2007 and headquartered in Redwood City, California. The company went public in September 2021 and has established itself as a pioneer in robotic-assisted urological surgery. PROCEPT develops and commercializes the AquaBeam and HYDROS robotic systems, which utilize proprietary Aquablation therapy - a minimally invasive surgical technique that uses high-velocity saline to precisely remove prostate tissue for treating benign prostatic hyperplasia (BPH). The company has grown rapidly since its IPO, expanding its installed base from 130 systems worldwide in 2021 to over 500 systems by 2024, with strong presence in the United States and growing international operations.
Business
PROCEPT operates in the medical robotics industry, specifically focusing on urological surgical procedures. The company's core business revolves around treating benign prostatic hyperplasia (BPH), a common condition where the prostate gland enlarges and causes urinary problems in aging men. BPH affects millions of men worldwide and traditionally requires invasive surgical procedures. The company's flagship products are robotic surgical systems that perform Aquablation therapy. This innovative procedure uses image-guided robotics to deliver high-velocity saline jets that precisely remove excess prostate tissue while preserving surrounding healthy tissue and critical structures. The technology represents a significant advancement over traditional surgical methods like transurethral resection of the prostate (TURP), which can cause complications such as bleeding, sexual dysfunction, and incontinence. PROCEPT's product portfolio includes two main robotic platforms: 1. The original AquaBeam Robotic System, which established the company's market presence and clinical foundation. 2. The newer HYDROS Robotic System, launched in 2024 with FDA clearance, featuring enhanced capabilities including FirstAssist AI technology, integrated ultrasound, and digital cystoscope functionality. The company's revenue streams are divided into two primary segments: System sales account for approximately 40-45% of total revenue, involving the sale of robotic systems to hospitals at average selling prices around $460,000 for the newer HYDROS systems. Handpiece and consumables sales represent 55-60% of revenue, providing recurring income as hospitals perform procedures using proprietary single-use handpieces and related consumables. PROCEPT is also expanding beyond BPH treatment into prostate cancer applications. The company has received FDA breakthrough device designation and is conducting clinical trials to evaluate Aquablation therapy as a potential first-line treatment for localized prostate cancer, which could significantly expand its addressable market from the current BPH focus to include cancer treatment.
Revenue model
PROCEPT generates revenue through a two-pronged business model combining capital equipment sales with recurring consumables revenue. The company sells robotic systems to hospitals and surgical centers, typically priced between $400,000-$460,000 per unit, representing a significant capital investment for healthcare institutions. These system sales provide substantial upfront revenue but are inherently lumpy and dependent on hospital capital spending cycles. The more predictable revenue stream comes from handpiece and consumables sales, which generate recurring income as hospitals perform Aquablation procedures. Each procedure requires proprietary single-use handpieces and related consumables, creating a razor-and-blade business model. With average monthly utilization of approximately 6-7 handpieces per installed system, this recurring revenue has grown consistently as the installed base expands. The company's paying customers are primarily hospitals and ambulatory surgical centers, with particular focus on high-volume BPH treatment facilities. PROCEPT has successfully penetrated integrated delivery networks (IDNs) and large health systems, with approximately 45% of recent system sales associated with bulk IDN purchases. The company has also secured favorable reimbursement coverage, with an estimated 95% patient access through major insurance providers including Medicare and United Healthcare. Several factors influence PROCEPT's margins and profitability. Positive margin drivers include the company's strong pricing power due to limited direct competition in robotic BPH treatment, growing procedure volumes that improve manufacturing scale economies, and expanding international markets with potentially higher margins. The recurring consumables business provides predictable cash flows with attractive gross margins exceeding 60%. Margin pressures come from significant research and development investments required to maintain technological leadership, substantial sales and marketing expenses needed to educate urologists and drive adoption, and competitive pricing pressure from traditional BPH treatments. The company also faces potential margin compression from hospital consolidation and IDN negotiating power, supply chain disruptions affecting manufacturing costs, and the need for continued clinical studies to support market expansion into prostate cancer treatment.
Competitive moat
PROCEPT possesses a moderate to strong competitive moat built primarily on technological differentiation and clinical superiority. The company's Aquablation therapy represents a unique approach to prostate treatment that combines precision robotics with water-jet ablation technology, creating a differentiated clinical profile with superior outcomes compared to traditional surgical methods. Clinical studies demonstrate zero transfusion rates, lower complication rates, and better preservation of sexual function compared to conventional treatments like TURP. The company's moat is strengthened by several factors: Regulatory barriers create significant entry costs for potential competitors, as developing and obtaining FDA approval for surgical robotics requires substantial time and capital investment. Clinical evidence and physician adoption provide switching costs, as urologists must be trained on the specific technique and hospitals must justify replacing proven systems. The company maintains over 90% surgeon retention rates, indicating strong user loyalty. Intellectual property protection through patents covering the Aquablation technology and robotic system design provides some defensive positioning, though the durability of these patents over time remains to be tested. The company's growing clinical database and real-world evidence create informational advantages that are difficult for competitors to replicate quickly. However, PROCEPT's moat faces several potential threats. Large medical device companies like Intuitive Surgical, Boston Scientific, and Medtronic possess significantly greater resources and could develop competing technologies. Intuitive has already received FDA approval for robotic BPH treatment using their da Vinci system, though PROCEPT management views this as market validation rather than direct competition. Alternative treatment modalities including prostate artery embolization, newer laser technologies, and pharmaceutical treatments could potentially reduce demand for surgical intervention. The company's moat is also limited by the relatively narrow market focus on BPH treatment, making it vulnerable to technological disruption or changes in treatment paradigms. While the expansion into prostate cancer treatment could broaden the moat, this remains unproven and faces competition from established cancer treatment modalities.
Risks & safety
PROCEPT demonstrates a strong financial safety profile with substantial cash reserves and manageable debt levels, though the company remains unprofitable and cash-flow negative. **Cash and Liquidity Position:** - Cash and short-term investments: $316.2 million as of Q1 2025 - Current ratio: 8.95x indicating excellent short-term liquidity - Quick ratio: 7.75x showing strong ability to meet immediate obligations - Minimal debt burden with debt-to-equity ratio of only 0.21x **Burn Rate and Solvency:** - Free cash flow burn: $18.8 million in Q1 2025, improved from $33.6 million in Q4 2024 - Operating cash flow: -$17.0 million in Q1 2025 - At current burn rates, cash runway extends approximately 4-5 years - Revenue growth of 55% in Q1 2025 suggests improving trajectory toward profitability **Valuation Considerations:** - Price-to-book ratio: 8.22x indicating premium valuation - EV/EBITDA: Not meaningful due to negative EBITDA - Trading at significant premium to book value, reflecting growth expectations - Market cap of approximately $3.5 billion against $224.5 million in 2024 revenue **Other Risk Factors:** - Dependence on continued capital equipment sales in uncertain healthcare spending environment - Regulatory risks associated with medical device industry - Competition from larger, better-funded medical device companies - Single-product focus creates concentration risk
Recent development
PROCEPT has executed several strategic initiatives over the past few years that position the company for expanded market opportunities and accelerated growth. The most significant development was the launch of the HYDROS Robotic System in 2024, which received FDA 510(k) clearance and represents a major technological advancement over the original AquaBeam platform. The HYDROS system features FirstAssist AI technology that provides real-time surgical guidance, integrated ultrasound capabilities, and a digital cystoscope, all designed to improve surgical efficiency and outcomes. The company has made substantial progress in expanding beyond BPH into prostate cancer treatment. PROCEPT successfully demonstrated that Aquablation therapy does not spread cancer cells, leading the FDA to lift previous contraindications for BPH patients with concurrent prostate cancer. The company received FDA breakthrough device designation for prostate cancer applications and initiated the WATER IV PCa pivotal trial, comparing Aquablation therapy to radical prostatectomy for localized prostate cancer treatment. This represents a potentially transformative expansion of the addressable market from BPH to include cancer treatment. International expansion has accelerated significantly, with international revenue growing 104% in Q1 2025. The company has established strong momentum in the United Kingdom following NICE endorsement and is building presence in Japan after securing reimbursement approval. These international markets provide substantial growth opportunities as the company expands beyond its U.S. base. The company has also achieved important reimbursement and coverage improvements. Medicare administrative contractors updated local coverage determinations, removing age restrictions and prostate size measurement requirements that previously limited patient access. This streamlined approach is expected to broaden the eligible patient population and simplify the pre-procedure workflow for physicians. PROCEPT's commercial strategy has evolved to focus increasingly on integrated delivery networks (IDNs) and health system partnerships, with 45% of recent system sales associated with bulk IDN purchases. This approach provides more predictable revenue streams and leverages the company's clinical outcomes data to drive broader adoption across health system networks.
PRCT company profile · for informational purposes only — not investment advice.
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