Welcome to our dedicated page for Procept Biorobotics news (Ticker: PRCT), a resource for investors and traders seeking the latest updates and insights on Procept Biorobotics stock.
PROCEPT BioRobotics Corporation reports developments in surgical robotics for urology, centered on its AQUABEAM and HYDROS Robotic Systems and Aquablation therapy for lower urinary tract symptoms caused by benign prostatic hyperplasia. Company news commonly covers financial results, system sales and procedure trends, commercial execution, pricing and inventory commentary, and investment in its BPH platform technology.
Updates also include product clearances such as FirstAssist AI software, international launch activity for HYDROS, clinical evidence and guideline recognition for Aquablation therapy, investor presentations, and research activity including the WATER IV prostate cancer trial.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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%.