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PROCEPT BioRobotics Corporation (Nasdaq: PRCT) is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. News about PROCEPT BioRobotics frequently centers on its AQUABEAM and HYDROS Robotic Systems, which deliver Aquablation therapy for benign prostatic hyperplasia (BPH) and are being evaluated in clinical studies for localized prostate cancer.
Investors and clinicians following PRCT news can expect regular updates on quarterly financial results, revenue guidance, and operating metrics such as U.S. system placements, handpiece and consumable revenue, and international performance. The company issues detailed earnings press releases and hosts conference calls and webcasts to discuss its results and outlook.
Company news also covers clinical and regulatory milestones. Examples include progress in the WATER IV Prostate Cancer Trial, which compares Aquablation therapy with radical prostatectomy, and developments related to reimbursement, such as the assignment of a Category I CPT code for Aquablation therapy in the Medicare Proposed Physician Fee Schedule. These items provide insight into how the therapy is being integrated into clinical practice and payment systems.
Additional PRCT headlines highlight participation in healthcare and investor conferences, executive leadership updates, and commentary on the growing body of peer-reviewed publications supporting Aquablation therapy. For anyone tracking the evolution of robotic urology treatments, the PROCEPT BioRobotics news feed offers a centralized view of financial performance, clinical research, reimbursement changes, and corporate events related to Aquablation therapy and the company’s robotic platforms.
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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.