Procept Biorobotics Corp Stock Price, News & Analysis

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported strong financial results for Q1 2023, with total revenue of $24.4 million, up 72% year-over-year. U.S. handpiece and consumables revenue surged 165% to $11.8 million, while system and rental revenue increased 13% to $8.8 million. The company raised its 2023 revenue guidance to $128 million, a 71% growth from the previous year. PROCEPT also received a positive coverage policy from United Healthcare and signed a national sales contract with a significant U.S. integrated delivery network.

Despite these gains, the net loss widened to $28.5 million from $17.2 million in the prior year. Operating expenses rose to $40.9 million, reflecting increased sales and marketing investments. Gross margin decreased to 51% from 54%.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced it will report its financial results for Q1 2023 on April 27, 2023, before market open. A conference call is scheduled for the same day at 8:00 a.m. Eastern Time. The company is focused on innovations in urology and has developed the AquaBeam Robotic System for minimally invasive surgeries to treat benign prostatic hyperplasia (BPH), affecting about 40 million men in the U.S. PROCEPT BioRobotics emphasizes the effectiveness and safety of its Aquablation therapy, supported by a substantial clinical evidence base, including nine studies and over 150 peer-reviewed publications. Additionally, management will present at the Bank of America 2023 Health Care Conference on May 10, 2023.

PROCEPT BioRobotics Corporation (PRCT) announced that United Healthcare updated its Prostate Surgeries and Interventions Policy Bulletin, confirming Aquablation therapy as medically necessary for treating lower urinary tract symptoms (LUTS) due to benign prostatic hyperplasia (BPH). Effective June 1, 2023, this policy enhances accessibility for patients, potentially providing access to approximately 95% of men in the U.S. The Aquablation therapy employs an automated robotic system that uses heat-free waterjet technology, backed by successful FDA trials demonstrating its safety and efficacy.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced an in-person investor event on April 28, 2023, during the American Urological Association Annual Meeting in Chicago. This event will feature remarks from key executives and a surgeon panel discussing the benefits of Aquablation therapy, which addresses benign prostatic hyperplasia (BPH). Attendees include CEO Reza Zadno and other senior executives. A live webcast of the event will be available on the company's website for at least 90 days. PROCEPT BioRobotics is focused on developing robotic systems for minimally invasive urologic surgery, with significant clinical evidence supporting its Aquablation therapy.

PROCEPT BioRobotics Corporation announced that its Aquablation Therapy for benign prostate hyperplasia (BPH) has received a MedTech Innovation Briefing (MIB) from the National Institute for Health Care Excellence (NICE) in the UK. The therapy is recognized as equally effective as traditional TURP, with clinical experts noting its innovative nature, ability to preserve sexual function, and potential to replace TURP. Aquablation is the first robotic surgical system to obtain a MIB, validating its safety and durability compared to TURP. PROCEPT BioRobotics emphasizes its commitment to advancing patient care through transformative urological solutions.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT), a leader in surgical robotics focused on urology, announced management will present at the Virtual Key Bank Life Sciences & MedTech Investor Forum on March 21, 2023, at 12:45 p.m. Eastern Time. A live webcast will be available, with an archived recording for replay for 90 days. PROCEPT is renowned for its AquaBeam Robotic System, designed for minimally invasive urologic surgery, specifically targeting benign prostatic hyperplasia (BPH), which affects 40 million men in the U.S. The company boasts extensive clinical evidence supporting its Aquablation therapy.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported significant financial growth for 2022, with total revenue reaching $75.0 million, a 118% increase from 2021. In Q4 2022 alone, revenue was $23.8 million, marking a 135% rise year-over-year. System and rental revenue for the U.S. hit $10.4 million, up 109%, while handpiece and consumable revenue soared by 202%. Despite a net loss of $28.2 million for the quarter, the company projects $125 million in revenue for 2023, reflecting a 67% growth forecast. Key factors driving growth include expansion in the sales team and increased market interest.