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 (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.
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.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has announced that its management will present at the 43rd Annual Cowen Health Care Conference in Boston on March 7, 2023, at 12:50 p.m. Eastern Time. Interested parties can access a live webcast and an archived recording on the company’s website for at least 90 days following the event.
PROCEPT is recognized for its AquaBeam Robotic System, aimed at enhancing minimally invasive surgery for benign prostatic hyperplasia (BPH). Currently, BPH affects around 40 million men in the U.S., and PROCEPT's innovative Aquablation therapy is supported by extensive clinical evidence, including nine studies and over 100 peer-reviewed publications.
PROCEPT BioRobotics plans to report its fourth quarter and fiscal year 2022 financial results on February 28, 2023. Preliminary unaudited revenue for Q4 2022 is projected between $23.6 million and $23.8 million, significantly up from $10.1 million in Q4 2021. Total revenue for fiscal year 2022 is expected to be around $74.8 million to $75 million, reflecting a 117% growth year-over-year. The company emphasizes its commitment to advancing patient care in urology through innovative surgical solutions.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced its participation in the 41st Annual J.P. Morgan Healthcare Conference, scheduled for January 10, 2023, at 9:45 a.m. Pacific Time. The event will feature a presentation by the company's management team. Interested parties can access a live webcast and an archived recording through the company’s website.
PROCEPT BioRobotics focuses on innovating surgical robotics for urology, specifically addressing benign prostatic hyperplasia (BPH) through its AquaBeam Robotic System, which is backed by extensive clinical evidence.
PROCEPT BioRobotics (Nasdaq: PRCT) reported a 135% increase in total revenue for Q3 2022, totaling $20.3 million compared to the same period last year. U.S. system revenue rose 95% to $9.8 million, while handpiece revenue surged 267% to $8.0 million. The company raised its 2022 revenue guidance to approximately $72.5 million, a 110% growth over 2021. However, net loss widened to $22.6 million and operating expenses increased to $32.3 million.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will release its third quarter financial results on November 3, 2022, after the market closes. A conference call with management will follow at 1:30 p.m. Pacific Time. Investors can join via webcast or phone. The company is focused on surgical robotics, specifically addressing benign prostatic hyperplasia (BPH) through the AquaBeam Robotic System, which has shown significant clinical evidence in improving patient outcomes. Information on the event will be accessible on their website and archived recordings will be available for 90 days.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced a new five-year $52 million loan agreement with CIBC Innovation Banking to enhance its financial position. This loan will refinance an existing $50 million debt, allowing for an interest-only payment period of up to 48 months and reducing annual interest expenses by approximately $2.8 million. CFO Kevin Waters emphasized that this arrangement supports the company’s long-term growth strategy and provides financial flexibility. PROCEPT specializes in surgical robotics, focusing on treating benign prostatic hyperplasia.
PROCEPT BioRobotics (Nasdaq: PRCT) and Providence have formed a multi-system national contract for the acquisition of AquaBeam Robotic Systems, enhancing patient care in urology. As of June 30, 2022, Providence had seven AquaBeam systems installed in California and Texas. Doctor Richard Shapiro emphasized that Aquablation therapy offers long-term symptom relief for men with benign prostatic hyperplasia. PROCEPT aims to accelerate adoption of Aquablation therapy, prioritizing patient safety and effectiveness by using advanced robotic technology for precise prostate treatment.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has announced its participation in the 2022 Wells Fargo healthcare conference, with management scheduled to present on September 7 at 9:10 a.m. Eastern Time. The event will be available via live webcast on the company’s website, offering an archived recording for at least 90 days post-event. PROCEPT focuses on advancing patient care through innovative surgical robotics, particularly with its AquaBeam Robotic System aimed at treating benign prostatic hyperplasia, impacting about 40 million men in the U.S.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported Q2 2022 results showing a 97% year-over-year revenue increase to $16.7 million, driven by strong U.S. sales. System revenue reached $8.5 million (+79%), while handpiece sales surged 246% to $5.7 million. The company raised its 2022 revenue guidance to $66-$68 million (91%-97% growth). However, net loss grew to $19.2 million from $14.6 million in the prior year. Operating expenses increased to $26.4 million, reflecting expansion efforts. Cash reserves stand at $269.8 million.